"Economics is the study of how we make the best possible use of scarce resources in order to satisfy the requirements of as many people as possible"
(Delaney 2010, p.125)
This website is based around 'The Economic Framework' which is Section II of the Junior Cert Business Studies Syllabus (The National Council for Curriculum and Assessment, p.1). I hope that it will be useful for both students and teachers alike as we try to learn more about the topic of economics within the subject of Junior Certificate Business Studies.
Rationale for learning about Economics at Junior Certificate level according The National Council for Curriculum and Assessment (p. 9-11)
- To develop an awareness of the important role of the state in economic affairs and how that role might be manifested
- To appreciate the importance of acquiring basic economic literacy in order to make informed political choices
- To encourage in students to have an interest and a positive attitude towards the business world and to enable them to acquire a knowledge and an understanding of commercial activities.
- To provide students with an introduction to the structures and functions of business institutions and their inter-relationships.
- To enable students to apply oral and written communication skills to business activities and to develop the vocabulary necessary for further progress in the business world.
- To enable students to integrate knowledge and skills in a practical and useful way and in particular in applying them to realistic business/personal situations.
- To encourage students to apply business knowledge and skills to the commercial aspects of their own lives and that of their households.
"Without a basic level of economic awareness citizens cannot fully participate in the democratic process. Every day individuals make economic decisions, as do business firms and governments. It is becoming increasingly difficult to make political choices without some knowledge of economics. Business Studies aims to make some contribution to economic literacy among students in order to enable them to make an informed contribution to the democratic process" (The National Council for Curriculum and Assessment, p.1)
An awareness and understanding of business studies subject areas of economics, the economy and the government and foreign trade will be beneficial to students throughout life and will help students to have a greater understanding of what is going on around them in the political and commercial world whether they are aware of this or not. It is also important for students to have a good understanding of economics as it is available to study as a separate topic for the Leaving Certificate and students may be able to see if this is something they would like to further study after the Junior Certificate from what they learn and how engaged they are with this topic area within the Junior Certificate Business Studies Syllabus.