LEAVING CERTIFICATE ECONOMICS

WHY STUDY ECONOMICS? Economics is a social science which studies how scarce resources are allocated to satisfy our infinite needs and wants.

WHY STUDY ECONOMICS? Everyday our newspapers, magazines, radio and television programmes keep us in touch with a wide range of economic issues. Issues such as unemployment, inflation, taxation, interest-rates, privatization, currency exchange-rates, E.U. Structural Funds, Third World issues and so on.

WHY STUDY ECONOMICS? When you study Economics, you will gain a good understanding of current affairs both nationally and internationally, and you will be well prepared to form reasoned opinions on a wide range of economic matters.

WHY STUDY ECONOMICS? Economics gives you a superb training for a wide range of jobs. The subject teaches you how to collect and analyse information, to think clearly, and logically. These are invaluable skills from an employer’s point of view.

WHY STUDY ECONOMICS? At Third level education, Economics is a module contained in a wide range of courses (not just Business courses) and to have studied it at second level is of tremendous benefit.

ASPECTS OF THE COURSE Consumer Theory Government and National Budget Foreign Trade and Exchange rates National Income/ GNP Measurement

WHO SHOULD STUDY ECONOMICS? STUDENTS WITH A GOOD STANDARD OF ENGLISH Students must be able to read and understand economic theories and ideas from text books, newspapers and reference materials. Students who are unable or not prepared to do this would fall behind and perform poorly in this subject at higher level.

STUDENTS WITH AN ABILITY TO FOLLOW A LINE OF ARGUMENT. THE STUDY OF ECONOMICS REQUIRES THE USE OF STUDENTS IMAGINATION TO FOLLOW AND PUT FORWARD IDEAS AND LINES OF ARGUMENT. YOU SHOULD BE INTERESTED IN CURRENT AFFAIRS.

STUDENTS WITH A REASONABLE STANDARD OF MATHS If you have studied maths to foundation level you will struggle.

EXAMPLES OF ECONOMICS TOPICS DEMAND SUPPLY CONSUMER PRODUCER COSTS PROFIT FACTORS OF PRODUCTION COMPETITION

EXAMPLES OF ECONOMICS TOPICS EMPLOYMENT INTERNATIONAL TRADE EXCHANGE RATES NATIONAL INCOME INFLATION MONEY AND BANKING INTEREST RATES

USEFUL FOR CAREERS JournalismTaxation Actuary Social Work Banking Accounting Law & PoliticsResearch for TV Administration Stock-Broking Quantity SurveyingInvestment Banking Advertising Auctioneering Insurance Trade Unions Hotel ManagementEducation Marketing Management Consultant Market ResearchCivil Service Engineering Not-for-profit organisations

THE EXAM THERE ARE 2 SECTIONS: 1.SECTION A : 100 MARKS. This section consists of 9 short questions, you answer ANY SECTION B: 300 MARKS. This section consists of 8 long questions, you answer any 4.

KEY POINTS TO CONSIDER Economics complements a student’s study of other Leaving Cert subjects including Accounting, Business, Geography and History to name but a few.

KEY POINTS TO CONSIDER When students start studying Economics in 5th year they must understand that it is like learning a new language and it’s about putting the pieces of a jigsaw together bit by bit. At first they may feel confused but it “clicks” finally. This takes patience.

KEY POINTS TO CONSIDER While it is not a course requirement for entry to 3rd level business courses it is of major benefit to students to have taken Economics at LC. This is an observation from experience and feedback from former students.

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