Leaving Certificate Economics students smile with relief after they finished their last exam (Economics!) in June 2019
L to R Evan Forde, Sinead Kennedy & Ronan Mitchell
An exciting new specification for Leaving Certificate Economics has been implemented since September 2019.
Young people are growing up in a dynamic economywhich 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. Students need to be equipped with the skills, knowledge, understanding and values to negotiate these rapid changes in order for them to participate fully and effectively in society.
Leaving Certificate Economics is relevant to the lives of students today and it is hoped that, in the future, they will develop an interest and curiosity about economic issues. Many senior cycle subjects have close links with economics including Business, Politics and Society, Geography, History, Mathematics, and Home Economics—scientific and social.The knowledge and understanding gained in economics can be used in conjunction with that developed in these other subjects to enrich overall learning.
Further study
Economics can lead to many exciting and rewarding careers, from being a policy developer, financial advisor, analyst or journalist, to being employed by the government, industry, financial institutions, statutory and voluntary organisations, and working in sectors such as IT and education.
Course structure
The Leaving Certificate Economics specification is presented in five strandsthat reflect five fundamental economic questions.
STRAND 1: WHAT IS ECONOMICS ABOUT?
1.1 Economics as a way of thinking
1.2 The economic concepts of scarcity and choice
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?
3.1 Market structures
3.2 The labour market
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?
5.1 Economic growth and development
5.2 Globalisation
5.3 International trade and competitiveness
Exam and Assessment structure 2021
There are two assessment components at each level:
- 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.
Written examination 80%
- Section A Choice of short answer questions 20%
- Section B Choice of extended response questions 60%
Research study Report 20%
Total 100% 100%