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.
‘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:
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.
“Since 2015, there is evidence of a widening gap between measured GDP, in the official National Accounts published by the CSO, and what could be considered as underlying domestic economic activity – i.e. economic activity conducted in Ireland that affects the employment and incomes of Irish residents. In 2021, GDP is likely to overstate the underlying rate of growth in the Irish economy by around threefold.”
Byrne, Conefrey, O’Grady, (2021) Quarterly Bullitin – Q4 2021, Central Bank of Ireland.
Discuss and Critique the ESA (2010) modified methods of economic measurement set out within Europen policy, making sure to highlight the importance of intagible activities in the new measurements.