Leaving Certificate Economics provides a very strong basis for further study in Business related courses at third level.
- The course comprises of two parts: Micro Economics and Macro Economics.
Micro Economics is that branch of economics that analyses the market behaviour of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular, microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets.
Macro Economics deals with the broader economic environment. Pupils learn about areas such as how the Banking system works, how our Government’s policies influence the economy, National Income, Foreign Exchange, International Trade, Unemployment, Population and the other features which shape the world we live in.
This subject requires a motivated pupil who is willing to keep up to date with current economic affairs, for example, the Irish economic situation at present, learn key definitions, diagrams and keeps in touch with what is going on in the news.
Ideally, pupils should have done Higher Level Junior Certificate Business if thinking about choosing this subject. There is a common syllabus at Higher and Ordinary level. Higher level Economics requires a deep understanding and independent learning.