Economics is part of everyday life – each time we open a newspaper or watch a news bulletin, we are exposed to practical examples of the subject. The Leaving Certificate programme is divided into two sections: Micro Economics and Macro Economics.
Micro Economics deals with the economy on a small scale. It studies the producer and how he/she decides what to produce, what price to charge and what quantity to supply. It explores consumer behaviour and the factors that affect the demand for goods and services. It also deals with the factors of production i.e. land, labour, capital and enterprise.
Macro Economics deals with economic issues at a national or international level. It deals with money and banking, national income, the role of the Government, inflation, international trade, EU and comparing first to third world economies.