Full Title Macroeconomics 1 for Bachelor of Business L8

Short Title Macroeconomics 1

Code ECON08005
Level 08
Credit 05

Author Moran, Carol
Department Business

Subject Area Economics
Attendence N/A%
Fee

Description
This module will explore the management of the macroeconomy and how policy decisions can be made to achieve desirable economic goals. A review of introductory macroeconomic theory and the principles of economics will give the student an understanding of the context in which the policy issues arise. Students will develop an understanding of national and international macroeconomic issues and how they are managed and/or mismanaged.

Indicative Syllabus
Topic 1: Introduction to Macroeconomics
  • Ten principles of economics
  • Topics of interest to macroeconomists
  • How macroeconomists think


Topic 2: Economic Systems
  • Capitalism, command and mixed economic systems
  • Classifying economic systems
  • Transition economies
  • Role and limitations of government in macroeconomic management


Topic 3: Economic Growth & Recession
  • Measuring economic performance (real Vs nominal measures)
  • Exploring trends in economic performance
  • Causes and consequences of recession
  • Fiscal stimulus Vs Laissez-faire economics


Topic 4: International Trade
  • Absolute and comparative advantage
  • Protectionist policies and their impact
  • Free trade areas, customs unions, economic and monetary union
  • Impact of international trade on global development
  • Anti-international trade arguments


Topic 5: Fiscal Policy
  • Nature and tools of fiscal policy
  • Public finances and budgetary decisions
  • Uses and limitations of fiscal policy
  • Implementing Irish fiscal policies within and EU framework



Learning Outcomes
On completion of this module the learner will/should be able to
  1. Understand the principles of economics and their relevance to macroeconomic policy.

  2. Classify economies according to their type of economic systems and construct an argument as to what type of economic system is most socially and economically desirable.

  3. Measure and analyse economic growth and decline cycles and determine the causes of booms and recessions.

  4. Evaluate the benefits of international trade and analyse the effect of protectionism on the international trading system.

  5. Interpret fiscal policy and examine the effect that taxation and government expenditure have on the public finances. 


Assessment Strategies
The student will be required to write an essay demonstrating their understanding of key macroeconomic issues.

The final examination will assess the student's level of macroeconomic knowledge, their ability to apply it to the real work and their ability to understand the uses and limitations of macroeconomic policies.

Assessment Facilitites
None.

Module Dependencies
Pre Requisite Modules
None
Co Requisite Modules
None
Incompatible Modules
None

Coursework Assessment Breakdown %
Course Work / Continuous Assessment 30 %
End of Semester / Year Formal Examination 70 %

Coursework Assessment Breakdown

Description Outcome Assessed % of Total Assessment Week
Project Students will be required to construct an essay either on an individual or group basis. 1,2,3 30 Week 8


End Exam Assessment Breakdown

Description Outcome Assessed % of Total Assessment Week
Final Exam written examination 1,2,3,4,5 70 End of Term


Distance Learning Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload

Total Average Weekly Learner Workload 0.00 Hours

Part Time Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload

Total Average Weekly Learner Workload 0.00 Hours

Full Time Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload
Lecture Lecture Theatre Lecture 2 Weekly 2.00
Tutorial Not Specified Tutorial 1 Weekly 1.00
Independent Learning UNKNOWN Independent Learning 4 Weekly 4.00

Total Average Weekly Learner Workload 3.00 Hours

Online Learning Mode Workload

Type Location Description Hours Frequency Avg Weekly Workload

Total Average Weekly Learner Workload 0.00 Hours

Resources
Book Resources
Cleaver, T. (2013) Understanding the World Economy 4th Edition New York: Routledge

McDowell, M. et al Principles of Economics European Edition Berkshire: McGraw Hill Education
Other Resources
None.
Url Resources
www.finfacts.ie

www.economist.ie

www.imf.org

www.worldbank.org

Additional Info