Economics
AIMS OF SUBJECT:
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To understand the economy within which people act locally, nationally and globally.
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To appreciate the ethical, historical, social and environmental dimensions of economics, and reflect on how economics contributes to the social and political development of society.
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To develop skills in critical and creative thinking around contemporary economic, political and social issues, while appreciating different perspectives, and providing informed solutions to a problem.
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To research and analyse qualitative and quantitative economic information and data from various sources, present and justify conclusions and make informed decisions.
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To build student’s knowledge and understanding of economic terminology, concepts and principles, and develop the skills needed to apply this knowledge and understanding to familiar and unfamiliar situations.
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To discuss, explain and communicate the outcomes of their analysis and activities in verbal, graphical and other forms, using technology where appropriate.
RATIONALE FOR SUBJECT:
Young people are growing up in a dynamic economy which is constantly changing at local, national and global levels. Increasingly, their lives are being shaped by social, political and economic decisions and policies made by the Irish government as well as European and international governments and institutions. The Leaving Certificate Economics course gives students the opportunity to,
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Develop a set of skills, knowledge, understanding and values to understand the economic forces which affect their everyday lives, their society and their economy at local, national and global levels, making them more informed as decision-makers.
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Negotiate these rapid changes in order for them to participate fully and effectively in society.
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Stimulate their curiosity and interest in the economic environment and how they interact with it.
SUBJECT TOPICS/ SYLLABUS CONTENT:
STRAND 1: WHAT IS ECONOMICS ABOUT?
o Economics as a way of thinking
o 1.2 The economic concepts of scarcity and choice
o 1.3 Economic, social and environmental sustainability
STRAND 2: HOW ARE ECONOMIC DECISIONS MADE?
• 2.1 The market economy
• 2.2 The consumer
• 2.3 The firm
• 2.4 Government intervention in the market
STRAND 3: WHAT CAN MARKETS DO?
o 3.1 Market structures
o 3.2 The labour market
o 3.3 Market failure
STRAND 4: WHAT IS THE RELATIONSHIP BETWEEN POLICY AND ECONOMIC PERFORMANCE?
• 4.1 National income
• 4.2 Fiscal policy and the budget framework
• 4.3 Employment and unemployment
• 4.4 Monetary policy and the price level
• 4.5 Financial sector
STRAND 5: HOW IS THE ECONOMY INFLUENCED BY INTERNATIONAL ECONOMICS?
o 5.1 Economic growth and development
o 5.2 Globalisation
o 5.3 International trade and competitiveness
ASSESSMENT:
There are two assessment components at both Higher and Ordinary Levels:
- written examination (80%)
- research study (20%).
Both components of assessment reflect the relationship between the application of skills and the theoretical content of the specification.
The research study requires students to demonstrate that they can:
- Research and process information and data that is relevant and meaningful to understanding a particular economic issue.
- Apply concepts and theories in the evaluation of information and data in order to make an informed conclusion.
POSSIBLE CAREER OPTIONS:
Economics can lead to many exciting and rewarding careers, from being an accountant, policy developer, financial advisor, analyst or journalist, to being employed by the government, industry, financial institutions, statutory and voluntary organisations, and working in various sectors such as IT and education.
ADDITIONAL INFORMATION:
http://www.economicsleavingcert.com
AIMS OF SUBJECT:
- To understand the economy within which people act locally, nationally and globally.
- To appreciate the ethical, historical, social and environmental dimensions of economics, and reflect on how economics contributes to the social and political development of society.
- To develop skills in critical and creative thinking around contemporary economic, political and social issues, while appreciating different perspectives, and providing informed solutions to a problem.
- To research and analyse qualitative and quantitative economic information and data from various sources, present and justify conclusions and make informed decisions.
- To build student’s knowledge and understanding of economic terminology, concepts and principles, and develop the skills needed to apply this knowledge and understanding to familiar and unfamiliar situations.
- To discuss, explain and communicate the outcomes of their analysis and activities in verbal, graphical and other forms, using technology where appropriate.
RATIONALE FOR SUBJECT:
Young people are growing up in a dynamic economy which is constantly changing at local, national and global levels. Increasingly, their lives are being shaped by social, political and economic decisions and policies made by the Irish government as well as European and international governments and institutions. The Leaving Certificate Economics course gives students the opportunity to,
- Develop a set of skills, knowledge, understanding and values to understand the economic forces which affect their everyday lives, their society and their economy at local, national and global levels, making them more informed as decision-makers.
- Negotiate these rapid changes in order for them to participate fully and effectively in society.
- Stimulate their curiosity and interest in the economic environment and how they interact with it.
SUBJECT TOPICS/ SYLLABUS CONTENT:
STRAND 1: WHAT IS ECONOMICS ABOUT?
o Economics as a way of thinking
o 1.2 The economic concepts of scarcity and choice
o 1.3 Economic, social and environmental sustainability
STRAND 2: HOW ARE ECONOMIC DECISIONS MADE?
• 2.1 The market economy
• 2.2 The consumer
• 2.3 The firm
• 2.4 Government intervention in the market
STRAND 3: WHAT CAN MARKETS DO?
o 3.1 Market structures
o 3.2 The labour market
o 3.3 Market failure
STRAND 4: WHAT IS THE RELATIONSHIP BETWEEN POLICY AND ECONOMIC PERFORMANCE?
• 4.1 National income
• 4.2 Fiscal policy and the budget framework
• 4.3 Employment and unemployment
• 4.4 Monetary policy and the price level
• 4.5 Financial sector
STRAND 5: HOW IS THE ECONOMY INFLUENCED BY INTERNATIONAL ECONOMICS?
o 5.1 Economic growth and development
o 5.2 Globalisation
o 5.3 International trade and competitiveness
ASSESSMENT:
There are two assessment components at both Higher and Ordinary Levels:
- written examination (80%)
- research study (20%).
Both components of assessment reflect the relationship between the application of skills and the theoretical content of the specification.
The research study requires students to demonstrate that they can:
- Research and process information and data that is relevant and meaningful to understanding a particular economic issue.
- Apply concepts and theories in the evaluation of information and data in order to make an informed conclusion.
POSSIBLE CAREER OPTIONS:
Economics can lead to many exciting and rewarding careers, from being an accountant, policy developer, financial advisor, analyst or journalist, to being employed by the government, industry, financial institutions, statutory and voluntary organisations, and working in various sectors such as IT and education.
ADDITIONAL INFORMATION:
http://www.economicsleavingcert.com