YEOTY Senior Cycle Projects 2015

Luke Greham

Conor Walkin

Project Description: Do Subcription Fees Affect Demand for a Good or Service?

Our project determines how subscription fees affect the demand for a good or service. We also determined whether subscription fees appeal to the consumer for payment for a good or service. For research we used the results from a survey we compiled and referred to a professor in behavioural economics.

The primary merit in this entry was the collection of raw data from a survey and the attempt to interrogate this data using the key concept of individual consumer rationality. The conclusion reached is that people are generally irrational because they pay for subscriptions and yet consistently state that they do not really like them. The reality is that people’s decisions are context dependent and so this conclusion cannot necessarily be drawn. None the less this Prezi is highly innovative in linking data to economic concepts. 

Olive Chan

Kate Kinsella 

Lisa O’Carroll

Project Description: Tackling Ireland's Unemployment Crisis

Our video was created using SCRATCH and is a story reflecting the impact of unemployment . The main character Maria lost her job. However, with the support from the government and all the grants given to her, she is able to set up her own business again. 

This entry has two main merits. First off, it roots Ireland’s recent economic crisis in cyclical unemployment. Thereafter it looks at the complex social and economic effects of unemployment. To improve it the authors could think about evaluating whether it is right that people can be made unemployed in the first place given the effects on children etc. 

Project Feedback: 

This entry is extremely insightful in showing the need to ensure the right institutional framework for self-interested behaviour. During the World Cup in 1982 both participants in a match between West Germany and Austria knew that a win for the Germans by one goal would send both teams through to the knockout stages. Accordingly they played more or less co-operatively in order to both advance. The only problem with the video is that this is not an instance of a prisoner’s dilemma which actually shows the opposite case. Namely that by acting rationally and in a self-interested manner one can achieve an outcome that is not to their individual advantage. 

Project Feedback: 

This is a simple but innovative application of one of the central laws in economics. It shows how repeated consumption of any good or service (in this case a funny video) leads to a falling level of satisfaction or utility.

Megan Regan,

Dunshaughlin Community College,

Co. Meath.

1st Prize

Michael Conlon

Stephen Durkan

We examined the extent of brand loyalty and herd behaviour existing amongst teenage boys in Ballina. This involved carrying out market research to collate primary data. A thorough analysis of the results was then carried out to form our conclusions.

This entry uses primary survey data to confirm that people are susceptible to the branding and marketing. It uses concepts like conspicuous consumption to show that peoples preferences are actually (at least partly) socially determined. The project never drew this conclusion but if it was more widely confirmed this would be a major blow to consumer choice theory –very thought provoking work. 

Adam Hoare

Michael Kieran

Luke Burgoyne

Matthew Mc Court

A brief synopsis on what the black market is and what they deal in, our project entails a short summary of how this affects the Government and the people of Ireland.

Project Feedback: 

This is a timely piece of research into the economics of the black market. Clearly the authors have worked hard to find the various statistics. Two points to think about. One – is this an example of people making rational choices to sell and buy things more cheaply. Two – is it necessarily a bad thing that cigarettes in Ireland are expensive (here we also need to think about the negative effects on health and not just the cost to the consumer).

Project Feedback:  

This is both socially aware and focused on extremely well thought out solutions to our country’s obesity problem. Fat tax alongside education and a focus on physical activity is surely needed to stop the onslaught on obesity in Ireland.

Leanne Brosnan

Megan O' Brien

Niamh O' Donavan

Project Feedback:

Excellent piece of work that uses a variety of innovative methods to look at the relationship between working hours and productivity. The conclusion drawn is that working longer hours is detrimental to productivity and that perhaps we should think about reducing the working week by 5-10 hours.

Excellent analysis of Quantitative Easing. It takes the reader through the logic of QE and some of its history, including the long stagnation in Japan, the aggressive Fed policy after the crash of 2008 and the current programme initiated by the ECB last month. 

This project details the economic state of Germany following World War 1, and how the economic turmoil of the ‘20s and ‘30s helped aid the Nazi Party in their rise to power.

Project Feedback:

This is an extremely important topic given the rise of fascism in Europe at present. The authors have done more in this presentation than many mainstream historians by recognizing the links between economic collapse and rightwing extremism. The timeline is slightly confused and the link between deflation and hyperinflation debatable, but the project is very worthwhile nonetheless.

Project Description: Economics is Everywhere

Our project is called ‘Economics is Everywhere’. We decided to focus in how movies can subtly teach us about Economics, and that economics is everywhere!

Our project is about the effect the Olympics has on a country's economy. We analysed the London Olympics 2012 and researched how the British economy benefited from hosting this large event. We focused on the positive economic effects it had on the whole country.
 

Nicola O’Reilly 

St. Peters College Dunboyne, Station Road, Dunboyne, Co.Meath.

Project Description: 

In our project we discuss the economic concept of keeping a prisoner incarcerated and whether it is cost effective

Project Description: Adam Smith 

The Adam Smith FB page mixed good visuals economic knowledge, historical sense and a sense of humour.

The J.M Keynes entry had a good level of economic knowledge in the various posts

Project Description: David Ricardo

The FB on Ricardo again mixed humor and economic knowledge to good effect.

Co. West Meath.