Economics: Micro & Macro Pack

The Economics Leaving Cert Notes Pack is a comprehensive resource designed to help students excel in their Economics exams. It contains detailed notes, practice questions, and sample answers for all key topics in the Leaving Cert Economics syllabus. With clear explanations, examples, and real-world applications, this pack is an invaluable tool for revision and exam preparation.

This set of notes covers all the following topics and chapter in detail. 

MICROECONOMICS

What is Economics About 

• Economics as a way of thinking 
• The economic concepts of scarcity and choice 
• Economic, social and environmental sustainability

Demand, Supply and Market Equilibrium

• Demand and Consumers
• Supply and Producers
• Shifts in Demand and Supply Curves
• The Determinants of Equilibrium Price and Quantity
• Demand and Supply Applications
• Price Controls and Quotas: Government Actions in Markets

Elasticity

• The Responsiveness of Demand and Supply
• Cross Price Elasticity of Demand
• Effect of Income on Demand
• Relationship between Elasticity, Total Revenue and Price
• Applications of Elasticity

Costs and Production

• The Firm’s Supply Decision and Cost Behaviour
• Long Run, Short Run, Marginal and Average Costs
• Diminishing Marginal Returns
• Economies of Scale

Market Structures

• Perfect Competition
• Monopoly
• Monopolistic Competition
• Oligopoly

Wages and the Distribution of Income

• Wage Determination
• Transfer Earnings and Economic Rent
• Causes of Inequality

MACROECONOMICS

Introduction to Macroeconomics

• Objectives of Macroeconomic Policy
• Circular flow of income
• Measuring National Income
• Economic Growth and Business Cycle  
• Aggregate Demand and Supply

The Determination of National Income and the Role of Fiscal Policy

• Equilibrium Level of National Income
• Keynesian Theory and the Multiplier
• The Role and Effectiveness of Fiscal Policy
• Public Finances and the National Debt

Money and Banking

• How Banks Create Money
• Money Multiplier
• Measures of Money and the Money Supply

Monetary Policy

• Instruments of Monetary Policy
• The Role of the Central Bank and The European Central Bank
• Effectiveness of Monetary Policy

Unemployment and Inflation

• The Labour Market
• Types of Unemployment
• Causes and Consequences of Inflation
• Balance of Payments and Trade

International Trade

• Gains from Trade
• Comparative Advantage
• Restrictions on Trade
• Challenges of Sustainability