Active learning ideas
International Trade and the Global Economy explores why Ireland, as a small island nation, is so dependent on trading with the rest of the world. Students examine the concepts of absolute and comparative advantage, and the benefits of specializing in certain industries like pharmaceuticals and software. This topic is a cornerstone of both the Business and Economics specifications.
Activity 01
Groups represent different countries with varying resources (paper, scissors, markers). They must trade resources to 'manufacture' specific shapes, while the teacher introduces 'shocks' like a sudden tariff or a currency devaluation.
Why is international trade vital for the Irish economy?
Activity 02
Students brainstorm three ways Brexit has made it harder for an Irish farmer to sell beef to the UK. They then pair up to propose one solution the farmer could use to find new markets in the EU or Asia.
How do exchange rate fluctuations affect exporters and importers?
Activity 03
Groups are assigned a major Irish export sector (e.g., Medical Devices, Dairy, Tech Services). They must find out which countries are the biggest buyers and present a 'Global Map' of their sector's trade routes.
What are the barriers to free trade?
A few notes on teaching this unit
Watch Out for These Misconceptions
Trade is only about physical goods.
Services (like software and financial services) make up a huge portion of Ireland's exports. A 'Gallery Walk' of Irish service companies helps students recognize the 'invisible' side of international trade.
A strong Euro is always good for Ireland.
A strong Euro makes Irish exports more expensive for countries outside the Eurozone (like the US or UK), which can hurt sales. Using an exchange rate calculator in a simulation helps students see the 'double-edged sword' of currency strength.
Methods used in this brief
The Domestic Economy and Government Policy
Students analyze the role of the Irish government in regulating and supporting business. They explore how fiscal and monetary policies influence the domestic economic climate.
8 methodologies
The European Union and Irish Business
Students evaluate the impact of European Union membership on Irish businesses, focusing on the Single Market and EU policies. They analyze the opportunities and challenges presented by EU integration.
8 methodologies
Business Ethics and Social Responsibility
Students critically examine the ethical responsibilities of businesses towards society and the environment. They explore the concept of corporate social responsibility (CSR) and its impact on brand reputation.
8 methodologies