91401 Micro-economic Concepts - Home Use

What you'll learn

This course covers the things you'll need to know and be able to do for 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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