5th Year Resources
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.
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.
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.
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.
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.