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Econ King
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Introduction to Economics

In this section you will learn your first key concepts in Economics: Demand, Supply and Scarcity. When we bring these elements together we begin to see how you can't always get what you want and why.

Urban Skyline
Introduction to Economics
Happy Puppy
The Consumer and Utility

To make economics work we have to make some agreements on how we view the world. These are known as assumptions. One of the assumptions is that we would all like to be as happy as this puppy.

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Demand, Supply and Equilibrium

This topic is fundamental to the study of economics. It underpins the core values of the subject exploring the theories that lie at the heart of the subject itself - Demand and Supply.

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Elasticity

This topic takes the core ideas learned in the previous topic and expands them further. We know that changes in prices will causes changes in quantity demanded and quantity supplied of goods and services but elasticity asks the question - by how much do they change?  

Antique Cash Register
National Income

This is our first foray into the world of Macroeconomics. (All Macroeconomic topics have blue "read more" buttons.) We will consider income not on an individual level but on a national level to find out how much people in Ireland produce, earn and spend. This will help us analyse a country's economic growth. 

Beauty of Flight
Inflation

In this topic we will explore the measures, causes, effects and solutions of inflation. Inflation is not as strict as concept as a lot of people think. It doesn't mean that the price of everything is increasing. What it means is that the general price level of the most important goods and services is increasing. 

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Employment/
Unemployment

In this topic we will explore another key macroeconomic indicator: employment/unemployment. It will consider the measures, causes, effects and solutions of unemployment. Employment is essential for the long run stable growth of an economy.

Donation Jar
Money and Banking/ Monetary Policy

Economics works with or without money but it is hard to imagine how a modern economy would function without it. This topic considers money's origin and its development into its current format. This topic also considers our second macroeconomic policy instrument: monetary policy which is controlled on our behalf by the ECB.

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Government Objectives

This topic considers the various aims and objectives of the Irish government. Some of these we will already be familiar with as we have already encountered them as economic indicators namely: economic growth, inflation and unemployment. 

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Economics Thinkers

This is no longer a key focus on the new specification

Much like the Marvel movie franchise has done with all its superheroes this topic gives the origin story for our economic concepts by linking them back to the economists who created them.

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Fiscal Policy

In the previous topic we considered the main economic aims and objectives of the government. In this topic we will go one step further and consider the policy instruments that are available to the government if they hope to achieve these objectives.

Factory Floor with Two Workers
Cost of Production

Back to microeconomics. This topic explores the cost of production of firms and the factors which in theory cause them to increase and decrease over time. This topic area is essential knowledge as it forms the basis for the next four topics we will consider.

Potatoes
Perfect Competition

This is the first of our four market structures: Perfect Competition. In this market structure we will analyse how firms compete with one another if they are operating in an industry where all firms produce identical goods in insignificant quantities.

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Monopoly

Our second market structure: Monopoly. In this market structure we will analyse an industry where only one firm is in operation and there are high barriers to entry.

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Monopolistic Competition/Imperfect Competition

Our third market structure: Imperfect Competition. In this market structure we will analyse how firms which are not identical but very similar compete with each other.

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Oligopoly (+HHI)

Our fourth and final market structure: Oligopoly. In this market structure we will analyse how firms operate in an industry that is dominated by a few large firms.

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Market Failure

If a market when left to it's own devices creates the misallocation of resources this is known as market failure. This topic looks at how market failure is created and can potentially be fixed.

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Factors of Production

In this section you will learn about the four Factors of Production: Land, Labour, Capital and Enterprise. These factors of production are essential parts of the wealth generation of a nation.

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Economic Growth and Development/Sustainability

In this section we will consider the impact which changes in the size and structure of a country's population can have on its economy. We will also consider the plight of the world's Least Developed Countries and how they can be improved externally and internally.

Green Energy Turbines
Sustainability

Sustainability is a key focus in life and on the new economics specification. If we live in an unsustainable way we can damage the economy, the environment or the people of the planet present and future.

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International Trade

In this our last section we will explore how and why countries trade with one another, the benefits there are to be gained from doing so and the reasons why some countries would prefer not to trade.

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Hot Topics

This is a hub for the most topical items of the year which students should be aware of in order to be able to link their answers to real life.

Stock Market Down
Tradingeconomics.com 

tradingeconomics.com is your go to website for the most up to date economics statistics. This should be the last website you see before entering your exam. Make sure you know the most up-to-date figures for Economic Growth, Inflation, Unemployment, Debt-to-GDP Ratio and our interest rate.

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