TCE credit points
Course code
Course span
2016 — 2026
Reading and writing standard
Mathematics standard
Computers and internet standard
This course was delivered in 2023. Use A-Z Courses to find the current version (if available).

Economics investigates how individuals, groups and societies use scarce resources in the best possible way

Heightened media coverage of economic events and issues has created a growing perception of the relevance of studying economics and its implications for individual, business and government decision-making. By studying Economics Level 3, learners develop an understanding of how we organise ourselves to satisfy people's needs and wants. They learn how economic events and issues affect their lives and how they can use the knowledge and skills of economics to inform their participation in society. They become aware that economic decisions are not value free and have outcomes that may be inconsistent with social and ethical values. This course uses an inquiry model of learning. Through the processes of inquiry learners develop economic literacy, i.e. the economic knowledge and the skills required to participate effectively and responsibly in a changing social, legal, and economic environment. They develop skills to comprehend and analyse and evaluate economic data, use economic reasoning and communicate findings on a range of economic issues and propose possible and preferred responses and policy options. Economic literacy enables learners to actively participate as a citizen in decision-making which promotes individual and societal wealth and wellbeing. Economics Level 3 benefits learners when they pursue further education and training, employment and active participation as citizens.