Westlake Girls’ High School

Level 3 Economics

Course Description

Teacher in Charge:

Recommended Prior Learning

Subject	Level	Recommendations
9 Financial Capabilities	9	Open entry.
10 Business, Finance and Enterprise	10	Open entry.
Level 1 Economics	1	Open entry.
Level 2 Economics	2	Open entry.
Level 3 Economics	3	10 credits in Level 2 Economics. For students new to the subject: 8 credits of Level 2 English and Level 1 Numeracy. Students may also gain entry at the discretion of the HoD.

At Year 13, students use more complex microeconomic models to gain an understanding of the efficiency of markets. Students will see that perfectly competitive markets are allocatively efficient. However, in the real world firms don’t meet the conditions for perfect competition, meaning government intervention in markets may be required to improve efficiency and/or equality. Analysis at this level also involves an investigation of cost, revenue and profit for perfect competitors and monopolies.

The standards offered in this course may be altered at the discretion of the Head of Department.

Course Overview

Term 1
Economics 3.3 - Demonstrate understanding of micro-economic concepts (Internal)

Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium (External)

Term 2
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium (External)

Economics 3.4 - Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes (Internal)

Term 3
Economics 3.2 - Demonstrate understanding of the efficiency of different market structures using marginal analysis (External)

Departments:

Business Studies, Social Science

Level 3 Economics

Course Overview

Disclaimer