At the end of this unit I will:

2. Learning Intentions At the end of this unit I will: • Know how to discuss the Irish economy • Apply information to different situations • Understand the importance of researching information

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4. BEFORE WE BEGIN #04AFEF Do this exercise individually or in pairs. Tick whether you agree or disagree with the statements. Revisit it after the unit to see if you have changed your mind about any of them.

5. Websites Wonderful Worthwhile Websites www.businesseducation.ie www.revenue.ie www.finfacts.ie 5

6. Our Economy 1995 – 2007 Celtic Tiger – a period of record growth in the Irish economy. 2000 2010 2020 1990 2008 – 2013 Economic downturn - an enormous economic collapse and recession. 6

7. Our Economy Ireland went from boom (Celtic Tiger) to bust (economic collapse and recession)! The Irish government had to apply for financial help from the: The Irish economy has started to recover. EU measures have been put in place to encourage growth in our economy. • European Commission • European Central Bank (ECB) • International Monetary Fund (IMF) Collectively known as troika. 7

8. Economic Issues The following are important economic issues: • Unemployment • Housing shortage It is important to understand these issues through: Research Evaluation This helps us make informed judgments and recommendations. • Emigration • National debt • Inflation • Exchange rates • Education costs • Healthcare 8

9. Sourcing Information Information is all around us and available in many different formats. We have access to: • TV With so much information available it is important to be able to evaluate and interpret it correctly. Don’t accept information at face value! • Radio • Web pages • Social media (Facebook, Twitter, Instagram, etc) • Videos • Photographs 9

10. WORKING WITH OTHERS #04AFEF Let’s look at the issue of obesity as an example of an economic issue. Read the instructions on page 509. Research the topic using different sources: • Websites • Newspapers • Radio • TV Page 509

11. Top Tip: Debating Read the debating tips on page 509: • Set the correct tone • Look at lots of different perspectives • Use different sources for your research • Consider the way you use language when discussing an issue • Be confident • Have evidence to back up your opinion • Practice arguing for both sides of the debate

12. CASE STUDY OBESITY Read the case study on obesity on page 509. This case study is an example of problem-solving. You must choose the best solution for the problem, taking into account the cost of the various options and what is achievable within existing constraints.

13. WORKING WITH OTHERS #04AFEF • How might Gateway School of Education fundraise for a new gymnasium? • Are there other inexpensive strategies the school could employ to tackle lack of fitness and weight issues among students? • How might the school encourage students to become more active? • What are the costs to the government of an increase in obesity? Page 510

14. Evaluating Information Seven questions you should consider when evaluating information: • Who is sending this message/information? • Why are they sending the message? • What methods are used to attract attention, to create interest and desire, and to encourage action? • What points of view are represented? • Could the message be understood in different ways? • What is missing from the message? • What is the date of the information? 14

15. Economic Policies An economic policy is a plan/rule/decision made by our government to make changes to our economy. It is important to understand and value economic issues and the policies used to tackle them. Different policies can conflict with each other. The government needs to be decisive. 15

16. Evaluating Government Policies 1. Define the issue. 2. What policy did the government introduce to solve this issues? 3. Be the government. What might I do to solve the issue? 4. Is this a new issue? 5. Do any other countries experience the same issue? 6. Has the issue been successfully resolved in another country? 7. How much money will the issue cost? 8. Who benefits from this policy? 9. Who might bear the cost? 10. How is the policy operated and what happens if it doesn’t work? 16

17. CHECKING IN • List five questions you should ask yourself when evaluating information. • List five questions you should ask yourself when evaluating government policy.

18. 3.10 ECONOMIC ISSUES • What is the name of the Irish economic boom that took place between 1995 and 2007? Quick Quiz Celtic Phoenix Celtic Tiger Celtic Thunder

19. 3.10 ECONOMIC ISSUES • What is the name of the Irish economic boom that took place between 1995 and 2007? Quick Quiz Celtic Phoenix Celtic Tiger Celtic Thunder

20. 3.10 ECONOMIC ISSUES • What is the name of the Irish economic boom that took place between 1995 and 2007? Quick Quiz Celtic Phoenix Celtic Tiger Celtic Thunder

21. 3.10 ECONOMIC ISSUES • What is the name of the Irish economic boom that took place between 1995 and 2007? Quick Quiz Celtic Phoenix Celtic Tiger Celtic Thunder

22. 3.10 ECONOMIC ISSUES • The Celtic Tiger was a period of record growth in the Irish economy, from the mid-1990s to the mid-2000s. Quick Quiz: Review • Celtic Thunder is a name the name of an Irish singing group. • Celtic Phoenix is a name occasionally given to the economic upturn since 2014. 22

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24. Celtic Tiger • Recession • Troika