The EURO made a topical appearance on yesterday's higher-level economics paper, while ordinary-level students pondered the functions of money itself. TUI subject representative Mr Dermot McCarthy said that higher-level students, and, indeed, teachers, should have been quite pleased with yesterday's paper.

"Revision via past exam questions is a teaching technique used as a final preparation for exams," he said. "If this strategy was used, all concerned should have been happy. The questions on elasticity, enterprise, EMU and national income would have brought them, in racing parlance, `home and hosed'."

But, part (b)(i) of question 3 may have caused some difficulties. Most students should have been able to choose six good questions from the nine in the short-answer section. "The people involved in putting this paper together should be very satisfied with their efforts," said Mr McCarthy. "All we need now is for the NCCA to snap out of their complacency and give use the new syllabus which has been with them so long."

ASTI subject representative Mr Michael Corly said that both sections of the higher-level paper were acceptable. But, he was somewhat concerned that questions 5 and 8 both dealt with one area of the course, while no questions asked about areas such as money and banking or economic development.

He noted that the number of higher-level economics students has been dropping. Meanwhile, the syllabus keeps growing and growing in an attempt to encompass new developments such as the Maastricht Treaty and the Euro. "The quality and ability of students who sit the higher-level paper is very high," said Mr Corley. "I genuinely don't believe that the grades awarded are an accurate reflection of their ability."

Ms Mary Power, spokesperson for the Business Studies Teachers Association of Ireland, was "delighted to report that the girls of Scoil Mhuire in Carrick-on-Suir were very happy with both the higher-level and ordinary-level papers. They finished on a high . . . it was so gratifying to see smiles all round as they bade farewell to their alma mater."

The papers had become much more manageable in recent years and this should encourage students to choose economics, she added. "Yesterday's papers were very well laid out and the questions were very topical and ranged over the whole course."

Ms Power added that she hoped that grades would be higher than last year, to reflect the quality of the students' work.

At ordinary-level, Mr Corley said the paper was very good. Mr McCarthy described section A, which contained the short-answer questions, as "student-friendly." The first question in the long-answer section, on imperfect competition, would have proved popular with students, he said, and the diagram format suited the ordinary-level student.

Some of the questions were over-wordy for ordinary-level students. In particular, he pointed to question 2 which contained almost 170 words. Some economy of words would be welcome, he said, although the content and format of the paper was excellent.