Samoa Year 13 Curriculum - Economics

This curriculum focuses on the New Zealand economy and utilizes the external assessment system used by the New Zealand education system. It covers three main strands: Production, Consumption, and Market.

Strand 1: Production

This strand covers economic concepts such as the relationship between average cost of production and monthly output, economies of scale, derived demand, and the importance of markets. It also explores production possibilities using the Production Possibilities Curve (PPC) and delves into the basis of trade and gains from trade using absolute and comparative advantage. Additionally, it touches on income inequality and government intervention policies aimed at achieving fair distribution of income and wealth.

Strand 2: Consumption

This strand focuses on the government budget, including revenue sources (direct and indirect taxation, other revenue), expenditure categories (social security and welfare, education, health, core government services, law and order, defense, transport and communication, economic and industrial services, finance costs), and budget balances (surplus, deficit). It also covers consumption possibilities, budget lines, and consumer choices.

Strand 3: The Market

This strand explores market demand and supply, equilibrium price, market interventions (minimum price, maximum price), and the concept of black markets. It also covers money supply (M1, M3), inflation (demand-pull, cost-push), exchange rates (appreciation, depreciation), free trade and trade agreements, foreign investment, and economic development, including the role of international aid agencies.

The Samoa Year 13 Economics curriculum also includes a section on the economy of Samoa, covering its overview, GDP, composition by sector, population below poverty line, household income, inflation rate, labor force, unemployment rate, budget, industries, industrial production growth rate, electricity production and consumption, oil production and consumption, agricultural products, exports and imports, external debt, economic aid, currency, exchange rates, and fiscal year.