What is economics about?
Economics examines the choices people make about the use of limited resources to satisfy unlimited wants.
Economics helps to explain and predict how goods and services will be produced and consumed. It will tell you who gets what, how, and why.
Economics explores issues of:
- sustainability (efficient use of scarce resources)
- enterprise (identifying profit-maximising levels of output)
- citizenship (economic decisions affecting New Zealand society)
- globalisation (the benefits of international trade).
Economists are interested in the factors that influence the well being of people and aim to find solutions to improve people’s standard of living.
What is accounting?
- Accounting gives students the tools to make real life financial decisions in a constantly changing and uncertain world.
- Accounting is the process of preparing and communicating financial information to a wide range of users.
- Accounting enhances financial literacy.
- Accounting helps individuals and organizations to be accountable to stakeholders for their actions.
Why study accounting?
'The price of anything is the amount of life you exchange for it.' - Henry David Thoreau
Accounting enables students to develop the knowledge and skills to manage the financial affairs of individuals, communities, and businesses.
Students will develop the knowledge and skills necessary to:
- Prepare and maintain financial records: These could include the management of credit, understanding the concept of compound interest, establishing and monitoring Kiwisaver, maintaining a household or small business budget, and a basic understanding of the New Zealand tax system.
- Manage financial affairs: An example would be communicating with a bank manger when applying for an overdraft facility. Effective financial management requires systematic planning to ensure deadlines are adhered to. Examples include claiming a tax rebate, meeting tax deadlines, payment of routine expenses, and loan repayments.
- Act with integrity: Integrity involves being honest, responsible, and accountable. It requires individuals to act ethically at all times. Students will learn to justify and take responsibility for actions and decisions, obey the law, and keep accurate and confidential records. Examples include accurately claiming for contract hours worked and using business credit cards responsibly.
- Contribute to the wider community: This involves sharing their accounting knowledge and using their skills to contribute to their families, whānau, and communities. For example, becoming the treasurer of a local club or managing the family budget.
Why study business?
Studying business enables students to appreciate the issues that challenge businesses and stakeholders. In a rapidly changing world, it is important that citizens are able to make informed and rational decisions about business matters.
Business contributes to the development of a culture of enterprise in New Zealand and supports our efforts to improve economic and community well-being. Business studies creates opportunities for students to:
- understand the integral role of business in society and the economy
- explore enterprise culture
- develop the key competencies of The New Zealand Curriculum and ngā uara me ngā waiaro/values and attitudes of Te Marautanga o Aotearoa through the fostering of such qualities as initiative, resilience, and resourcefulness and the skills of problem solving, co-operation, decision making, negotiation, and communicating
- gain knowledge and understanding of good business practice and of business as a productive activity
- acquire greater financial capability.
Evidence of an enterprising spirit abounds in New Zealand’s history and is an aspect of our multicultural national identity. Enterprise and business entrepreneurship are essential to New Zealand’s economic future.
Subjects in this Department