Value Models And Data In Economics

Distinguish Positive From Normative Statements

Discuss Differing Economic Perspectives

Link Historical Crises To Economic Thinking

Use Data To Evaluate Current Issues

Explain Scarcity And Its Consequences

Explain How Economic Agents Interact

Evaluate Opportunity Costs Of Decisions

Discuss Incentives And Conflicting Motives

Distinguish Microeconomics From Macroeconomics

Explain Specialisation And Efficiency

Apply Cost-Benefit Analysis To Decisions

Outline Sustainability And Its Dimensions

Identify And Relate Sustainability Indicators

Consider Sustainable Development's Implications For Choices

Graph Demand, Supply And The Price Mechanism

Show Effects Of Shifts In Demand And Supply

Examine Technology's Impact On Markets

Evaluate The Consumer's Economic Role

Critique The Rational Consumer Assumption

Calculate And Apply Elasticity Of Demand

Investigate Irish Consumer Expenditure Patterns

Evaluate The Firm's Economic Role

Graph Revenue And Cost Relationships

Apply Short-Run And Long-Run Distinctions

Explain Conditions For Profit Maximisation

Analyse Economies And Diseconomies Of Scale

Critique Non-Profit Objectives Of Firms

Evaluate Government's Role In A Mixed Economy

Evaluate Government Interventions In Markets

Evaluate Regulation's Effectiveness

Explain The Use Of Market-Structure Models

Describe Perfect Competition, Monopoly And Oligopoly

Analyse Equilibrium Shifts In Market Structures

Compare Equilibrium Across Market Structures

Compare Profit Maximisation Across Structures

Examine Effects Of Changing Market Power

Calculate And Interpret Market Concentration

Explain Why Concentrated Markets Are Regulated

Distinguish Product Markets From Factor Markets

Outline The Factors Of Production

Examine Determinants Of Labour Demand

Graph And Explain The Labour Demand Curve

Explain Marginal Productivity Of Labour

Examine Determinants Of Labour Supply

Graph And Explain The Labour Supply Curve

Graph Labour Market Equilibrium And Interventions

Discuss Causes Of Wage Differentials

Discuss Causes Of Market Failure

Debate Government Responses To Market Failure