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Economics & Accounting

Economics

Subject Overview

Economics is a way of thinking about how people make decisions and interact with each other. As such it is one of the cognitive and social sciences, such as psychology, sociology and philosophy. Economics focuses on “the ordinary business of life” as the economist Alfred Marshall stated. It explains how we get our incomes, how we use them, the supply of resources and the production and exchange of goods and services. Decisions relating to these have social consequences, intended and unintended, which are also analysed in Economics.

Students who have studied Junior Certificate Business Studies will have received a basic introduction to economics but this is not essential for study of Leaving Certificate Economics.

Content

The syllabus for Leaving Certificate Economics offers students a broad introduction to economics. It introduces students to the nature of economics and to basic economic concepts. Following this introduction, the units of study undertaken are

  • Production and consumption
  • Economic systems and economic thought
  • Demand and supply
  • Price and output
  • Factor incomes
  • Determination of national income and its fluctuations
  • Money and banking
  • The Government in the economy
  • Inflation
  • International trade and payments
  • Terms of trade
  • Economics of population
  • Economic growth and development
  • Economic policies, problems and conflicts

Assessment

The syllabus is assessed by means of a terminal examination paper at two levels, Ordinary level and Higher level in ascending order of difficulty.

Documentation

PDFLeaving Certificate Economics syllabus (Ordinary level and Higher level)

Related links

State Examinations Commission
Department of Education and Science
Business Studies Teachers Association of Ireland (BSTAI)
Scoilnet

Accounting

Subject Overview

  • To contribute to a balanced an appropriate general education, leading to the personal and social development of each student together with a fostering of the concept of accountability
  • To create awareness of the business environment and to to provide each student with the knowledge, understanding and skills leading to a personal competence and responsible participation in this changing and challenging environment.
  • To encourage the development of self-reliance, mental organisation and agility, clear and logical thinking, planning habits, methods of investigation and processes whereby accuracy can be ensured
  • To enhance numeracy skills and promote awareness of the use of figures computations and statistics in the world of business and enterprise
  • To expose students to aspects of business and enterprise with a view to career and working life, additional studies in accounting or as a basis for further education.

Content

The course is divided into eleven main sections:

  1. The Conceptual framework of Accounting
  2. The Regulatory Framework of Accounting (Higher Level only)
  3. Accounting Records
    1. Double-entry bookkeeping
    2. Bank reconciliation statement
    3. Control Accounts
    4. Suspense Accounts
  4. Sole Traders
  5. Company Accounting
    1. Share Capital, Reserves and Loan Capital
    2. Financial Statements of Limited Companies
    3. Appreciation of Annual Reports of Public Limited Companies (Higher Level only)
  6. Specialised Accounts
    1. Manufacturing Accounts
    2. Stock
    3. Club Accounts and the Accounts of Servicefirms
    4. Departmental Accounts
    5. Farm Accounts
  7. Incomplete Records
  8. Cash Flow Statements
  9. Analysis and Interpretation of Financial Statements
  10. Management Accounting
  11. Information Technology and Computer Applications in Accounting

Assessment

The syllabus is assessed by means of an examination paper at two levels, Ordinary level and Higher level in ascending order of difficulty.

Documentation

PDFLeaving Certificate Accounting Syllabus (Ordinary level and Higher level)

Related links

State Examinations Commission
Department of Education and Science
Business Studies Teachers Association of Ireland (BSTAI)
Scoilnet