Economics -


Economics is part of everyday life – each time we open a newspaper or watch a news bulletin, we are exposed to practical examples of the subject. The Leaving Certificate programme is divided into two sections: Micro Economics and Macro Economics.
Micro Economics deals with the economy on a small scale. It studies the producer and how he/she decides what to produce, what price to charge and what quantity to supply. It explores consumer behaviour and the factors that affect the demand for goods and services. It also deals with the factors of production i.e. land, labour, capital and enterprise.
Macro Economics deals with economic issues at a national or international level. It deals with money and banking, national income, the role of the Government, inflation, international trade, EU and comparing first to third world economies.
Economics is studied at third level as part of Business courses or as an Arts subject and in Engineering, Construction, Management, Journalism and many more courses.

Year 5
Text Book: Positive Economics – Susan Hayes, Trudie Murray and
Brian O’Connor – Edco

Term 1
Introduction to Economics
Producer, Consumer, Markets
Demand
Supply
Market Equilibrium
Elasticity
Costs, Revenues and Profits
Perfect Competition

Terms 2 and 3
Imperfect Competition
Monopoly
Price Discrimination
Oligopoly
Markets for Factors of Production
Banking

Leaving Certificate Curriculum Summary 46

Year 6
Text Book: Understanding Economics – Richard Delaney – Edco

Term 1
National Income
Inflation
Employment
Government Budget and Finances
Government Economic and Social Aims/Objectives/Policies
Economic Development and Growth

Terms 2 and 3
Population
International Trade
Balance of Payments and Foreign Exchange
The Global Economic System
Schools of Economic Thought

Assessment
Both the Higher and Ordinary Level exam is 2½ hours and follows the same format. Section A has nine short questions, of which six are attempted. Section B has eight questions examining a mix of both Macro Economics and Micro Economics; students attempt any four.