Level 3 Economics (L3ECO)


This UE-approved Level 3 course covers various aspects of macro and microeconomics. You will learn about current economic issues facing New Zealand and why the Government gets involved in our economy.

What will I learn?

    • On a micro level -you will study the market, its efficiency, and the Government’s involvement in the market. You will investigate what happens when the market fails to deliver efficient or equitable outcomes. (AS 3.1, 3.3, 3.4)

    • On a macro level - You will study the working of the economy as a whole and the effects of Government policy on the economy are studied. (AS 3.5)

What should I have done already?

It will definitely be an advantage to have done either Level 1 or Level 2 Economics. The entire Level 2 course is the focus of the 3.5 macroeconomics paper. The Level 1 course will set you up well for the micro-economic standards. Individual students may make a case to study L3 Economics without having done Level 1 or 2 but they should have strong literacy and numeracy skills.

Assessment outline

AS 91400 will only be taught to students contemplating attempting Economics Scholarship.


Assessment regulations

The internal achievement standards will be assessed after the appropriate topics have been taught. There will be no reassessment opportunity for these standards. You will only be given the opportunity to improve on your efforts if you get small things wrong that you can be fixed with no further teaching or learning occurring (resubmission) that will bring your grade from a Not Achieved to Achieved. Because there is no reassessment, if you do not submit the assessment on the due date you have failed the standards.

The externally assessed achievement standards will be formatively assessed using tests and exams during the year. The results from these assessments will count towards class placings and any derived grade applications if you are unable to sit final examinations.

It is vital that you read and understand the rules relating to NCEA in the section on NZQA information.

Where does this course lead?

Level 3 Economics is a university-approved subject. It is a valuable foundation for any career in commerce, trade or politics. It provides basic knowledge to ensure you will be an informed member of New Zealand society.

Indicative costs

For all indicative course costs please see the course costs page.