Question 1

Economists understand growth as the aggregate production of an economy, but models of growth include a variety of factors. The following essay discuss the transforming effects of both technology and demographics on the nature of growth within an economy. Discuss how government policies tackle these issues.

Question 2

• Explain and evaluate the imposition of taxation upon the forces of supply and demand and the effects this has on welfare.
• Critically analyse the current Irish income tax system with at least one other OECD country and critically assess the system in terms of marginal tax rates, the tax wedge and replacement rates.

Question 3

‘Climate change and environmental degradation are an existential threat to Europe and the world. To overcome these challenges, the European Green Deal will transform the EU into a modern, resource-efficient and competitive economy, ensuring:

• no net emissions of greenhouse gases by 2050
• economic growth decoupled from resource use
• no person and no place left behind’.

European Commission (2022)

Using the supporting material on the Moodle page discuss and critique the European Green New deal and the transition into a circular economy. Discuss how the three elements of the green new deal would affect Ireland’s economy.