Active learning ideas
This topic introduces the 'big picture' of how the Irish government manages the economy. Students examine the four primary macroeconomic objectives: sustainable economic growth, full employment, price stability (low inflation), and a balanced balance of payments. For 5th Years, the challenge is understanding that these goals often conflict, for example, rapid growth can lead to high inflation.
Activity 01
Students represent different ministers (Health, Education, Enterprise). They must argue for their share of the budget while the 'Taoiseach' and 'Minister for Finance' try to meet national economic aims like reducing debt.
What are the primary economic aims of the government?
Activity 02
Groups are assigned a pair of economic aims (e.g., Growth vs. Environment). They must find examples of how pursuing one might hurt the other and present their findings using a 'balancing scale' visual.
How do these aims sometimes conflict with one another?
Activity 03
Students discuss whether GDP is the best way to measure Ireland's success. They brainstorm alternative measures (like happiness or housing availability) and share why the government might prefer one over the other.
How is economic success measured?
A few notes on teaching this unit
Watch Out for These Misconceptions
The government can achieve all economic aims at once.
Economic policy involves trade-offs (e.g., the Phillips Curve suggests a trade-off between inflation and unemployment). Using 'priority ranking' exercises helps students see that policy is about choosing the 'least bad' compromise.
Economic growth is always good for everyone.
Growth can lead to inequality or environmental damage if not managed. Peer-led debates on 'quality of life' vs. 'GDP' help students understand the nuances of sustainable growth.
Methods used in this brief
Taxation and Government Expenditure
An overview of fiscal policy, focusing on the types of taxation in Ireland and how government revenue is allocated.
8 methodologies
Market Failure and Government Intervention
Investigation into situations where free markets fail to allocate resources efficiently, such as public goods and externalities, and the methods of government intervention.
8 methodologies