Midas Group

Applied Economics (FETAC Level 5)


This Economics course aims to provide a learner with the relevant knowledge, skills and competence to understand a range of economic concepts and gain theoretical understanding and practice knowledge of applied economics. It will support the learner to apply economic analysis to the current economic problems happening in the world today.


  • To help the learner understand and be able to hold discussion using economic terminology, as well as the principles, concepts & fundamentals of economic theory & strategy
  • To work with learner in the exploration of global economic systems & market structures though gaining a comprehensive knowledge of macro economics
  • To work with the learner to understand the crucial importance of international trade, and the implications for all nations/ markets
  • To assist the learner explore the Irish economy in particular and become familiar with the role of the government & other key stakeholders (i.e. nations, organisations, industry, consumers) in the economy
  • To help the learner appreciate the impact of supply & demand on price, production & market equilibrium
  • Understand the role that money and financial institutions play in economic development and policy
Course Content
  • Explore a range of global economic systems and their influence on government intervention and economic freedom.
  •  Examine the key factors determining supply and demand and their impact on market price and production.
  • Illustrate the impact of a variety of market structures on nations, organisations and consumers.
  • Explore fiscal and monetary policy.
  • Examine the economic importance and implications of international trade.
  • Analyse the role of the key players in the Irish economy, such as government, industry, consumers.
  • Examine the characteristics of the main economic systems, such as free enterprise, command and mixed.
  • Analyse the impact of a variety of changes in supply, demand and market equilibrium.
  • Investigate the methods, advantages and disadvantages of government intervention in an economy.
  • Identify a range of barriers to free trade.
  • Explore the impact of being a small, open economy on Ireland’s balance of trade and balance of payments.
  • Construct demand and supply curves.
  • Calculate marginal, average and total costs.
  • Critically evaluate a variety of market structures, such as perfect competition, imperfect competition, monopoly and oligopoly.
  • Calculate national income, from given data, using each of the main measures, to include income method, output method and expenditure method.
  • Illustrate the circular flow of income in an economy.
  • Analyse the fiscal and monetary policy of an economy.
  • Upon successful completion of this course participants will receive a Fetac Level 5 Minor Certificate in Applied Economics (5N1350)
Further Information/Booking

For further information, fill in a course enquiry form, call us on +353 (046) 9249618 or e-mail info@midasgroup.ie – To register for this course, download the attached Booking Form and post / fax or book online by choosing Book Online option below.

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