Business Studies
ACCOUNTANCY, ECONOMICS, BUSINESS
These are the three subjects which make up the business studies section of the Leaving Certificate Syllabus.

ECONOMICS:

Higher and Ordinary Level
Topics:

Production and consumption, economic systems and economic thought, demand and supply, price and output, factor incomes, notional income, money and banking, government’s economic role, inflation, international trade and exchange rates, and economic growth and development.

Economics is the more analytical of the three business subjects. The course is designed to deal with the basic concepts and principles of Economics on a national and international basis. Although a more abstract subject than the other two, Economics has great practical application in that it helps students to understand the working of the economy around them. The theory on the course is closely related to current topical issues such as inflation, balance of payments problems and national wage negotiations. In nearly every newspaper one picks up today there are extensive articles on some aspect of the economy. Current political issues today largely the economic issues of today. A study of economics is probably a study of one of the most topical subjects on the course. If you are interested in current affairs and politics, economics is a good subject to study, it is also a useful base for most administrative, clerical and management jobs. It is useful for Social Science courses and careers, for Business Studies; Commerce or Economic courses for Management Marketing and Advertising; for Civil Service and Local Government jobs. Many professional bodies - e.g. Accountants, Banking, Insurance have Economics as a subject in their examinations and it is useful to have studied it in school.


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ACCOUNTANCY:

Is a more specialised subject and is difficult to take up in FifthYear without having done Business Studies in Second and Third Year, but nevertheless, some students have taken it up in Fifth Year and have done well.
The aim of the course is to develop a general understanding of accounts and finance. For example it deals with the Accounts of Clubs and voluntary bodies as well as Sole Traders and Limited Companies. If you want to follow a course in Commerce or Business Studies in a Third Level College, it is not strictly necessary to have done accountancy in school, however please pay attention to the “note” below. The Honours course covers most of the Accounting course for the first exam of the Professional Accountancy bodies.

Note: It is important that students are aware that Accountancy is an important module of any business course, at Third Level, and that students can find that it is extremely difficult for them and that they are at a huge disadvantage when doing a Business Course, if they have not done at least Ordinary Level Accounting in the Leaving Certificate. I would recommend that students who have any queries on this matter should speak to Mr. Lawlor who has direct experience of lecturing in Business at Third Level.


Business:

Business gives and excellent general knowledge of the whole business, commercial area. No matter what area you choose to work in after school, the knowledge that Business Organisation gives you can only be of help. Accountancy and Economics are specialised areas within the commercial area, and some topics may overlap with topics in Business which gives insight into the commercial world and shows the relationship between various aspects of business:

Section A: People in Business
Introduction to people in business; people and their relationships in business; conflicting interests and how they are resolved.

Section B: Enterprise
(Unit 2) Enterprise

Introduction and definition of enterprise, entrepreneurs and enterprise skill.

(Unit 3) Managing 1

Introduction and definition of management, managers and management skills and management activities.

(Unit 4) Managing 2

Household and business manager, human resource management, changing role of management, and monitoring the business.

(Unit 5) Business in Action

Identifying opportunities, marketing, getting started and expansion.

SECTION C: ENVIRONMENT

(Unit 6) Domestic environment, categories of industry, types of business organisation, community development, business and responsibilities of business.

(Unit 7) International environment, introduction to the international trading environment, European Union, and international business.

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