Subject Overview Economics focuses on “the ordinary business of life”. It explains how we get our incomes, how we use them, the supply of resources and the production and exchange of goods and services.
Decisions relating to these have social consequences, intended and unintended, which are also analysed in Economics. Content The syllabus for Leaving Certificate Economics offers students a broad introduction to economics. It introduces students to the nature of economics and to basic economic concepts.
Following this introduction, the units of study undertaken are
- Production and consumption
- Economic systems and economic thought
- Demand and supply
- Price and output
- Factor incomes
- Determination of national income and its fluctuations
- Money and banking
- The Government in the economy
- Inflation
- International trade and payments
- Terms of trade
- Economics of population
- Economic growth and development
- Economic policies, problems and conflicts
Assessment – The syllabus is assessed by means of a terminal examination paper at two levels, Ordinary level and Higher level. 80%Terminal Exam 20%Project.