91401 Micro-economic Concepts - Home Use

91401 Micro-economic Concepts - Home Use

LearnWell Digital

This version of the resource is for home use. Students work independently through the resource. If you are a teacher, you should purchase the school use version.

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What you'll learn

In this course you'll learn what you need to know to meet NCEA Level 3 Economics Achievement Standard 91401 (Economics 3.3) 'Demonstrate understanding of micro-economic concepts' (5 credits, version 2).

This course is divided into 2 sections:

1. Economic concepts and models

In this module you'll learn about micro-economic concepts including: marginal utility and demand, diminishing returns and supply, elasticity of demand, elasticity of supply, market structures, and the role of prices and profits in determining resources allocation. You'll also revisit two micro-economic models: demand and supply and the production possibility frontier.

2. Develop and practise your skills

In this module you'll look at the economic and social implications of the models and concepts you studied in module 1. You'll also have the opportunity to practise and further develop your economic analysis skills.

Talk to your teacher about the internal assessment you'll need to do after completing this course.

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