Leaving Certificate Economics offers a dynamic and engaging exploration of how individuals, businesses, and governments make decisions about resources, markets, and economic policy. It suits students who enjoy understanding real‑world issues, analysing data, and thinking critically about how economies function. This guide outlines the structure of the course, the five core strands, and the details of the research project.
The Structure of the Course
The course is organised into five strands, each building your understanding of economic concepts and how they apply to everyday life. The assessment includes a final written exam and a research project completed during 6th year.
Strand 1: The Economic Landscape
This strand introduces the foundations of economics and helps students understand the world through an economic lens.
Key Elements
Scarcity and Choice: Why resources are limited and how choices must be made.
Opportunity Cost: Understanding trade‑offs in decision‑making.
Economic Systems: How different countries organise their economies.
Sustainability and Ethics: Considering long‑term impacts and responsible economic behaviour.
What You Will Learn
Students develop the ability to think like an economist, question assumptions, and understand how economic issues shape society.
Strand 2: Markets and Government
This strand explores how markets work, why they sometimes fail, and the role of government in the economy.
Key Elements
Demand and Supply: How prices are determined.
Elasticity: How sensitive consumers and producers are to price changes.
Market Failure: Pollution, inequality, and other issues that markets alone cannot fix.
Government Intervention: Taxes, subsidies, regulations, and public services.
What You Will Learn
Students gain insight into how policies affect people and businesses, and how governments balance efficiency with fairness.
Strand 3: Personal and Business Economics
This strand brings economics into everyday life, helping students make informed financial decisions.
Key Elements
Personal Finance: Saving, borrowing, budgeting, and managing risk.
Business Decisions: Costs, revenues, profit, and competition.
Entrepreneurship: Innovation, enterprise, and starting a business.
Labour Markets: Wages, employment, and workers’ rights.
What You Will Learn
Students gain practical financial skills and an understanding of how businesses operate and compete.
Strand 4: The National Economy
This strand focuses on the big picture—how the entire economy performs and how it is measured.
Key Elements
Economic Indicators: GDP, inflation, unemployment, national debt.
Fiscal and Monetary Policy: How governments and central banks influence the economy.
International Trade: Imports, exports, and global economic relationships.
Economic Growth and Development: What drives progress and prosperity.
What You Will Learn
Students develop the ability to interpret economic data, understand national budgets, and analyse Ireland’s economic performance.
Strand 5: International Economics
This strand examines Ireland’s place in the global economy.
Key Elements
Globalisation: How countries are interconnected.
Exchange Rates: How currency values affect trade.
EU Membership: The benefits and responsibilities of being part of the European Union.
Trade Agreements and Barriers: Tariffs, quotas, and free‑trade areas.
What You Will Learn
Students explore how international events—such as global recessions, trade disputes, or technological change—affect Ireland.
The Economics Research Project
The research project is a significant part of the final grade and allows students to investigate a real economic question that interests them.
What the Project Involves
- A written report based on an economic investigation.
- A stimulus (released by the State Examinations Commission) that guides the theme of the project.
- Independent research, including data collection, surveys, interviews, or analysis of published information.
- Application of economic concepts from the course.
- Length and Format
- The report is typically 1,200–1,500 words.
- It must follow the structure outlined by the SEC, including introduction, research methods, analysis, and conclusions.
When It Is Completed
- The project is completed in 6th year.
- The SEC releases the stimulus in early September.
- The project is usually submitted in December, with the exact date set annually by the SEC.
- Percentage of Final Grade
- The project is worth 20% of the overall Leaving Certificate Economics grade.
Skills You Will Develop
- Research and investigation
- Data analysis and interpretation
- Critical thinking
- Clear written communication
Why Choose Economics?
Economics is an excellent choice for students who:
Enjoy understanding how the world works
Like analysing real‑life issues
Want to develop strong problem‑solving and data skills
Are considering careers in business, finance, law, politics, marketing, or public policy
It complements subjects such as Business, Geography, Maths, and Politics & Society.
Final Thoughts
Choosing your Leaving Certificate subjects is an important decision. Economics offers a blend of practical skills, real‑world relevance, and academic challenge. Whether you’re curious about how prices are set, why governments make certain decisions, or how global events affect Ireland, Economics provides the tools to understand it.
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