TASC Economics Level 3 case studies
TASC Economics Level 3 · Put your knowledge to work in context.
TASC Economics Level 3 is a secondary-completion assessment for candidates who want to show they can handle economics at a level beyond the introductory survey. It suits adults finishing a high school equivalency pathway, students who have already taken a first economics course and want a stronger record, and career changers who need evidence of quantitative social-science reasoning for further study or entry-level work. The TASC Economics Level 3 case studies are 5 cases and about 2,907 words.
1The Harbor Town Ferry Subsidy
A coastal town of 40,000 residents runs a publicly owned ferry linking its downtown to a job-rich island. The ferry carries 2,000 commuters daily at a fare of 4.00; operating cost is 6.50 per rider, and the town covers the 5,000 daily gap from its general fund.
606 words, about 3 min2The Price Cap on Winter Heating
A regional market for home heating fuel has demand that is highly inelastic in winter: at 2.00 per liter, households buy 10 million liters per month; at 2.60, they still buy 9.4 million liters. Supply is more responsive: at 2.00, suppliers offer 10 million liters; at 2.60, they offer 12 million liters.
596 words, about 3 min3The Bakery's Second Oven
A small bakery currently produces 400 loaves a day with one oven and four bakers. Fixed costs (rent, oven lease, insurance) are 600 per day; each baker costs 150 per day; ingredients run 0.80 per loaf.
580 words, about 3 min4The Central Bank's Dilemma
An economy is growing at 1.2% annually, unemployment is 7.4%, and inflation has run at 5.8% for six months, driven mainly by energy and food. The central bank's mandate is price stability with a secondary objective of supporting employment.
553 words, about 3 min5The Apparel Exporter's Exchange-Rate Squeeze
A mid-sized apparel exporter in a small open economy sells 60% of its output abroad, priced in US dollars, and imports 40% of its fabric, also priced in dollars. Last year the exchange rate was 100 units of local currency per dollar; this year it is 125.
572 words, about 3 min