leaving cert economics research study

Economics Leaving Certificate

Myleavingcert provides detailed notes, key fact summaries and quizzes for each strand of the Economics course. In addition, we have included all available past paper questions and answers by topic for both higher and ordinary level. With everything needed for success in one place, this resource is ideal for independent learning, revision and homework.

Research study

• Research study information and guidance.

Strand 1: What is economics about?

• 1.1 Economics as a way of thinking
• 1.2 Concepts of scarcity and choice
• 1.3 Economic, social and environmental sustainability

Strand 2: How are economic decisions made?

• 2.1 The market economy (demand/supply)
• 2.2 The consumer
• 2.3 The firm (costs/revenues)
• 2.4 Government intervention in the market

Strand 3: What can markets do?

• 3.1 Market structures
• 3.2a The labour market
• 3.2b Factors - land, capital and enterprise
• 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
• 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.

My Revision

• The big quiz - all topics in economics
• Exam questions by strand.
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Senior Cycle Economics - Curriculum

The brief for the research study for 2022/2023 has been issued by the State Examinations Commission and is available on the SEC's website at the following link  https://www.examinations.ie/docs/viewer.php?q=3652ab46dfa221ff60643461081cb5e363da7e1d  

The National Council for Curriculum and Assessment have published updated Guidelines to Support the Research Study. The updated document can be accessed here https://www.curriculumonline.ie/getmedia/bb757072-78d6-46a2-bb06-ee8d66dc7ed8/LCEconomics_GL_1119.pdf

Tá Treoirlínte nuashonraithe chun tacú leis an Staidéar Taighde foilsithe ag an gComhairle Náisiúnta Curaclaim agus Measúnachta. Is féidir teacht ar an doiciméad nuashonraithe anseo https://www.curriculumonline.ie/getmedia/a4fe800f-7098-47a9-a349-320b3a13d7e8/LCEconomics_GL_1119_GA.pdf

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The new Leaving Certificate Economics specification is now available

• Subject Development

 The current Leaving Certificate Economics syllabus is available at the link below. It is assessed at Higher and Ordinary levels.  A new Leaving Certificate Economics specification will be implemented from September 2019 and is also available to be viewed here:

• Curriculum Online: Leaving Certificate Economics

The development of a new Leaving Certificate Economics specification began in November 2014.

The background paper and consultation report for Leaving Certificate Economics explores the development of the subject at senior cycle; highlights good practice at home and abroad; and to uses evidence-based research to inform the revision of the specification.

• Background Paper and Brief for Leaving Certificate Economics
• Consultation report on background paper for Leaving Certificate Economics

The Economics Development Group consists of the nominees from a range of education stakeholders including teacher and management bodies, Department of Education and Skills, and the State Examinations Commission. Reports of development group meetings can be accessed here.

• Economics development group meeting - May 2015
• Economics development group meeting - March 2015
• Report from EDG Oct 2015
• Economics development group meeting - September 2015
• Report from EDG 12 Jan 2016

A draft Leaving Certificate Economics specification was developed from November 2014 - February 2017. The draft specification is available here.

• Draft Specification for Leaving Certificate Economics

The new Leaving Certificate Economics specification is due to be implemented from September 2019. More information is available here:

Subject Choice

Leaving certificate, career zone.

Leaving Certificate economics provides students with the knowledge and skills necessary for understanding how the Irish and global economy functions. The learning experiences in economics develop students’ critical thinking, problem solving, decision-making and numeracy skills. Economics provides students with a learning foundation for a wide range of careers in business, economics, finance, enterprise and management.

Why Study Economics

Economics deals with the real world business obstacles such as demand and supply, production and consumption, money and banking as well as economic policies, problems and conflicts.  With inflation and international trade and payments constantly making headlines, economics requires its students to keep track of real world situations.

It helps students to develop a clear understanding of the role of economics, to encourage the development of appropriate learning skills, and to generate in students a positive and ethical attitude to economics in personal, business and public life

What kind of student might Economics suit? 

• Anyone considering a future career in any area of business, journalism, communications or finance
• Students who enjoyed Junior Cert Business.
• Students who take an interest in politics, current affairs, or psychology.

Recommendations/Tips

This subject is suited to students who are willing to work hard and caters for all abilities. It is not necessary to have studied business at Junior Certificate to study Economics but it would be helpful. Ideally, students should have a general interest in how the economy works and be interested in current affairs.  It would be important to be listening to the news and reading the daily papers.

Students show a distinct preference for questions about micro-economics, such as household budgets, rather than macroeconomics, which deals with broader issues, like inflation and growth.

To perform well in the macro-economic questions at higher level, candidates need a good knowledge of contemporary economic issues in the Irish economy and an ability to apply the relevant economic theories to particular issues.

Subject Group: Business

These subjects teach the skills and knowledge needed to understand how business works.

• Career Sectors

This subject builds skills and knowledge that are particularly useful for careers in the following Career Sectors:

• Construction, Architecture & Property
• Business Management & Human Resources
• Public Administration, Politics & EU
• Banking & Financial Services
• Physics, Mathematics & Space Science
• Sales, Retail & Purchasing
• Transport & Logistics
• Accountancy & Taxation

Grades Awarded

Explore marks distribution for all subjects:.

Course Overview

This subject teach the skills and knowledge needed to understand how business works.

Economics is regarded as the most practical business subject and is the study of how people manage limited resources such as money to meet their goals. By understanding the reasons why people spend their money in certain ways, economists can try to introduce incentives to change their behaviours. As a discipline, economics is divided into two broad categories:

Microeconomics considers how individual people decide what goods they are willing to buy or not buy based on maximising their personal 'utility' (getting as much benefit as possible from their money), and how firms and businesses will try to take advantage of consumers' habits to maximise profit. It also examines how multiple businesses in a market will price their goods based on their competitors and their various costs.

Macroeconomics  considers how governments handle the economy as a whole - how they select policies which meet their goals, such as stable economic growth (avoiding recessions), minimising the national debt, and encouraging employment. How the government handles issues such as fiscal policy (how much money flows in the economy), international trade, and banking all have implications for economics stability and growth.

You will be required to complete a research project worth 20% of your overall grade.

Course Content

Click here for Curriculum Specification

The subject is concerned with understanding the workings of a modern economy from both Macro and Micro level. Leaving Cert economics consists of eight main examination question areas:

Subject content

• Demand, supply, equilibrium, utility and elasticity
• Costs and market structures
• Factors of production (including economists)
• National income and the multiplier
• Inflation, money, banking and monetary policy
• International trade, balance of payments and the euro
• Fiscal policy and taxation
• The Government in the economy (including economic development and growth, population and emigration)
• Separate questions on elasticity and costs are also possible, and questions on broader topics such as the national income, Government policy - the list above is just a general guide
• A Research Study will also be required (20% of total grade)
• There is a common syllabus covering Higher and Ordinary level, which will fulfil the aims and objectives.

Exam Structure

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.

Career Possibilities

The Leaving Cert economics programme can be an advantage for students considering third level courses with an economics element to course content. It is also useful for careers in Banking, Insurance, Finance, Marketing, Politics, Journalism, current affairs and all aspects of business.

3rd Level Requirements

Required for 3rd level.

This subject is not an essential requirement for any courses in the CAO system.

Guide to Subject Choice

Exam papers, marking schemes, full curriculum, career articles.

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Support for Leaving Cert Business, Accounting and Economics

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Positive Economics is a modern, engaging, insightful and exam-focused package embracing the new specification. It includes:

• Student Textbook
• Research Study Booklet
• Free Student e-Book
• Teacher’s Resource Book
• Free Digital Resources
• Free Positive Economics Blog & Bi-monthly Newsletters

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LC 2023 - Economics Important Information

Important information in relation to the assessment arrangements for Leaving Cert 2023 for ECONOMICS.

The Research Study has now been published on the SEC Website and is available  here  and also attached below.

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Positive Economics

Positive Economics for the new Leaving Certificate specification has been written by our best-selling and highly accomplished author team of teachers, exam correctors and a practising economist.

Positive Economics is a modern, engaging, insightful and exam-focused package embracing the new specification. It includes:

• Student Textbook
• Research Study Booklet
• Free Student e-Book 
• Teacher’s Resource Book
• Free Digital Resources
• Free Positive Economics Blog & Bi-monthly Newsletters

Further Information

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• Dec 20, 2022

Ace Your Economics Leaving Cert with These Study Tips

Updated: Mar 27, 2023

1. Introduction to the Economics Leaving Cert

The Economics Leaving Cert is an important exam for students in Ireland who are looking to pursue higher education or enter the workforce. The exam covers a wide range of topics in economics, including microeconomics, macroeconomics, and international economics. It's no secret that economics can be a challenging subject, but with the right approach and study habits, you can feel confident and prepared for the exam.

2. Start Early and Review Regularly

One of the most important things you can do to prepare for the Economics Leaving Cert is to start studying early and review the material regularly. This will give you plenty of time to digest the material and identify any areas that you need to spend more time on. It's also a good idea to review the material on a regular basis, rather than trying to cram it all in at the last minute. This will help you retain the information and feel more confident on exam day.

3. Understand the Exam Format and Practice with Past Papers

Familiarizing yourself with the exam format and practicing with past papers is another key to success on the Economics Leaving Cert. The exam consists of two papers, both of which are three hours long. Paper 1 is worth 60% of the total grade and covers topics such as microeconomics, while Paper 2 is worth 40% of the total grade and covers topics such as macroeconomics and international economics.

By practicing with past papers, you'll get a feel for the types of questions that are asked on the exam and how to approach them. You'll also get a sense of the time pressure, which can be helpful on exam day.

4. Utilize Online Resources and Seek Help When Needed

There are many online resources available to help you study for the Economics Leaving Cert, including videos, interactive quizzes, and practice exams. Utilizing these resources can be a great way to supplement your traditional studying methods and help you better understand the material.

If you're struggling to understand a particular concept or are feeling overwhelmed, don't be afraid to seek help from your teacher or a tutor. It's better to ask for help early on than to fall behind and struggle to catch up.

5. Take Care of Your Physical and Mental Health

Finally, it's important to take care of your physical and mental health as you prepare for the Economics Leaving Cert. Make sure to get enough sleep, eat well, and exercise regularly. It's also important to manage your stress levels and find healthy ways to cope with any anxiety or frustration you may be feeling.

6. Conclusion

The Economics Leaving Cert can be a challenging exam, but with the right approach and study habits, you can feel confident and prepared on exam day. Start studying early, understand the exam format, utilize online resources

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If you studied JC Business and like current affairs, this might be the subject for you. 

Leaving Cert Economics is concerned with understanding the workings of a modern economy from both a Macro and Micro level. The course looks at how we get our incomes, how we use them, the supply of resources and the production and exchange of goods and services. 

Higher Level Course Content:

• 1.1 Economic Concepts
• 1.2 Sustainability
• 2.1 The Market Economy
• 2.2 Elasticity
• 2.3 Costs of Production, Revenue + Profit
• 2.4 Government Intervention
• 3.1 Market Structures
• 3.2 The Labour Market
• 3.3 Market Failure
• 4.1 National Income
• 4.2 Fiscal Policy and the Budget Framework
• 4.3 Employment
• 4.4 Monetary Policy and Price Level
• 4.5 The Financial Sector
• 5.1 Economic Growth and Development
• 5.2 Globalisation
• 5.3 International Trade and Competitiveness
• 6.1 Topical Questions and Statistics

Ordinary Level Course Content:

• 1.1 Economics as a way of thinking
• 1.2 The Economic Concepts of Scarcity and Choice
• 1.3 Sustainability
• 2.3 Costs of Production, Revenue and Profit
• 4.1 National income
• 4.2 Fiscal Policy & the Budget Framework
• 4.4 Monetary Policy & the Price Level
• 5.1 Economic Growth & Development
• 5.3 International Trade & Competitiveness
• Research Project

Both Higher and Ordinary levels have two components:

• written examination (80%)
• research study (20%)

Both levels have a two-and-a-half hour, one-paper exam. This paper consists of Sections A and B. Section A requires students to answer short answer questions. Section B is made up of long questions.

Research Study

This will be based on a brief released by the SEC, which will outline numerous topics from which students can pick one for their research study. This will be completed in 6th year. Students will research a particular economic issue and apply concepts and theories to make an informed conclusion.

Future Careers with Leaving Certificate Economics

Banking, Finance, Economist, Business, Accountant

Download the Economics Curriculum Specification

Download the Leaving Cert Economics Chief Examiner's Report  (2013) 

Past Papers

Community activity.

Leaving Cert home economics: ‘Students left the exam hall happy’

Higher level paper described by teachers as fair, but challenging in parts.

Leaving Cert students Daniel Sidorkin, Logan Mallon and Alex Raynor discuss their exams at Trinity Comprehensive School, Ballymun, Dublin. Photograph: Dara Mac Dónaill

The higher-level home Leaving Cert economics paper was connected to the real and lived experiences of people in contemporary society, teachers have said.

“It was a fair reflection of a living subject,” said Sandra Cleary, a teacher at the Institute of Education. “Students leaving the exam hall today will likely be happy, satisfied that whatever work they did will have been fairly represented. The paper rewarded those with a forensic engagement with past papers and the curriculum.”

Linda Dolan, Studyclix.ie subject expert and a home economics teacher at Mercy College, Sligo, said that the paper was fair, but challenging in parts.

“The anticipated topic of carbohydrates hadn’t reared its head since 2017, but appeared in question one, which would have left teachers and students relieved.

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“The manufacture of food products was a common trend in this year’s paper as the manufacture of yoghurt came up in question three, and the stages in the production of oil was seen in the core question four. This focus on food production and technology was also popular in last year’s short questions.”

On the short questions, Ms Cleary said that unlike last year, they were not overly focused. “This year’s group started this exam with a comprehensive selection that spanned awide variety of different topics. This rewarded those who paid attention to the entirety of the course while not unfairly penalising those who struggled with the full scale of the curriculum. The questions were clear, reasonable and unambiguous.”

Ms Cleary said that students who were alert to the relevance of the subject will have found “great opportunities to fuse their studies and lives in questions that prompted consideration beyond the textbook examples.”

Leaving Cert home economics (higher level) section A

Leaving Cert home economics (higher level) section B and C

On the ordinary level paper, Ms Dolan said that it was straightforward.

“A nice question on fruit and vegetables appeared in Q2 which required designing a three-course menu for a vegetarian.

“Question four on the family was also very doable. Overall, this paper would have put a smile on the faces of teachers and students alike.”

Try this one at home: Leaving Cert home economics, higher level

Q5: ‘The family is a dynamic, fluid, resilient and ever-changing fundamental institution of society.’ (Kristy Hawthorn)

(a) Discuss the role of the family in meeting the physical and psychological needs of young

children so that they will become well-adjusted adults in society. (20 marks)

(b) Analyse the impact of social, economic and technological changes on contemporary family structures. (18 marks)

(c) Describe two supports available to older family members and state how these supports help them to maintain their independence. (12 marks)

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