Question 1 (i) Ireland is a Small Open Economy (SOE) and as such we are vulnerable to external economic shocks that may greatly impact overseas demand for our exports of goods and services. What policies should SOE governments pursue to achieve sustainable growth. Describe these policy aims for Ireland. Include discussion on measures of performance of an economy. Be analytical and critical in your answer. (40 marks) (ii) In your opinion, briefly explain what sort of recovery will the post pandemic world most likely experience and how is Ireland positioned, to cope or to change tact. (10 marks) Question 2 (i) Discuss the Irish Healthcare sector, detail its structure and features and how it compares Internationally. In your answer, describe the issues arising in the health insurance sector. Be critical and analytical in your answer and seek to draw supported conclusions. (40 marks) (ii) In your opinion, why have successive governments failed to adequately tackle the inefficiencies operating in the Healthcare system at home? Does Covid present an opportunity to act ? (10 marks) OR (i) The Irish Education sector can be characterized by different measures, including PISA scores, Feeder school tables and our standing in global University league tables. Analyze Irish education standing internationally and compare learning in Ireland to other recognized, leaders in the sector, which provide very robust but different avenues to education. Be critical and analytical in your answer and seek to draw supported conclusions. (40 marks) (ii) In your opinion, what are the likely long-lasting opportunities to change the delivery and experience of learning in a post pandemic Ireland and should they be implemented. Will there be a lasting legacy to online learning of the Covid years. (10 marks) Question 3 (i) The International Bond Market is an avenue Governments often take to raise funds to assist in the day to day running of the economy. Describe the workings of this government product with particular focus on the mix of risk inherent in the area for lenders as they seek to match risk and return targets. Further discuss 4 other different types of bonds, giving examples of each. (40 marks) (ii) In your opinion, what are the dangers for a nation pursuing a negative rate of interest for savings accounts and for bond issuance? (10 marks) OR (i) Adam Smiths ‘Wealth of Nations’ has had lasting impact on collective thinking on how Governments impose and collect tax from its citizens. Consider how the Irish tax regime functions, how we implement direct and indirect taxes and how the system compares to our neighbors. (40 marks) (ii) In your opinion, what tax avenue changes could the Irish authorities consider to help revive the post pandemic economy and what are the likely impact of these measures? (10 marks) Question 4 (i) The Irish experience within Europe can be traced back to 1973’s membership of the EEC. Detail this long experience of how the economy and society was impacted by membership from the early days right up to full Economic and Monetary Union and beyond. In your answer, include discussion on the Common Agricultural Policy (CAP) and how swiftly Irish society was transformed from a largely agricultural based economy to a hi-tech economy and the CAPs fundamental role in putting this in place. (40 marks) (ii) In your opinion, briefly consider the call for a future border poll by certain political parties on this island, and what a possible future united Ireland may mean for the economy north and south. (10 marks) OR (i) The path to Economic and Monetary Union has not always been a smooth one. The early days of the European Monetary System (EMS) produced a mechanism to reduce exchange rate fluctuations of member states local currencies called the Exchange Rate Mechanism (ERM). Discuss the ERM, what it was for and how well it functioned. Include particular emphasis on the experience of Sterling within the ERM and how in Sept 1992 the then British Government were forced into an embarrassing U-turn in policy and exit the mechanism. (40 marks) (ii) In your opinion, what measures must Ireland take to ensure we continue on a path of robust economic growth post Brexit and well beyond. (10 marks) Question 5 (i) Ireland, in the years 1994-2006 can been characterized as a period of high growth, near full employment and net immigration. These Celtic Tiger years came at a price as the economy then endured periods of economic contraction, bank guarantees and rescue bailouts. Discuss this period in Irish economic history. Be critical in the buildup years of policy that continued to ignite the construction sector and detail the mistakes that lead to the statewide bank deposit guarantee. Finally, focus on the process that lead to our loss of sovereignty as the European bailout ushered in a series of austerity budgets. (40 marks) (ii) In your opinion, will a return to blended style work week post Covid lead to a long term switch out of city living for a certain minority ? And what will the likely impact be on property, residential and commercial, wages and employers OR (i) The emergence of a new tradable Asset Backed Security (ABS) class in the US paved the way to the 2008 Crisis of Credit in which the global financial system almost faltered and lending between financial institutions, businesses and individuals ceased. Detail the circumstances that enabled this, paying particular reference to the causes and events that produced Mortgage Backed Securities (MBS) as a tradable product and how the emergence of the sub-prime mortgage product ultimately led to the 2008 worldwide financial turmoil. (ii) In your opinion, has the banking sector changed their processes and regulations sufficiently to minimize the risks when another financial crisis consumes the financial world.