What I may already know: • Economic growth should not be at the expense of the environment.
Learning Intentions
In this chapter, I will learn: • The economic cycle. • A brief history of the most recent economic crisis in Ireland. • How economic growth impacts on society and the environment. • The importance of promoting sustainable development.
Key Words: Economic cycle Boom
Recession Slump
Recovery Celtic Tiger
Sustainable development
WHAT IS THE ECONOMIC CYCLE?
In chapter 32, we learned that the rate of economic growth is a good indicator of the health of an economy.
In general, as an economy grows it moves through four stages. This is known as the economic cycle: 1. Boom
