Full Title Macroeconomics 2

Short Title Macroeconomics 2

Code ECON08006
Level 08
Credit 05

Author Moran, Carol
Department Business

Subject Area Economics
Attendence N/A%
Fee

Description
Building on the material from Macroeconomics 1 for Bachelor of Business L8, the student will explore the macroeconomic challenges that economies face and learn how best these challenges can be overcome. The student will use the theoretical framework to apply economic theory to modern economies with which they are familiar.

Indicative Syllabus
Topic 1: Inflation
  • Measurements of inflation, CPI, HICP, Household Budget Survey
  • Causes of inflation
  • Effect of inflation
  • Methods of ensuring stable low inflation is achieved


Topic 2: Labour Market Challenges
  • Defining and measuring the labour market
  • Unemployment, causes, consequences and impediments to full employment
  • Impact of unemployment on the individual, economy and society
  • The Phillips Curve


Topic 3: Monetary Policy & Interest Rate Determination
  • Defining money and monetary policy
  • The role and monetary instruments of Central Banks
  • Loanable and liquidity preference funds theory of interest rate determination
  • Uses and limitations of monetary policy, especially in small open economies


Topic 4: Case Studies in Macroeconomic Management
  • The Irish Economy
  • Global Economic Superpowers
  • Emerging Economies
  • Least Developed Economies


Topic 5: Responsible Macroeconomics
  • Ethical considerations for the macroeconomist
  • Sustainable development
  • Environmental impact of economic activity
  • Role of international organisations such as WTO and OECD

Learning Outcomes
On completion of this module the learner will/should be able to
  1. Discuss the causes, consequences and potential solutions to inflation.

  2. Full understand the labour market and the challenge unemployment poses for the macroeconomy.

  3. Analyse monetary policy and demonstrate an understanding on how interest rates are determined.

  4. Apply, through the use of case study analysis, a knowledge of macroeconomic challenges posed for individuals, governments and society. 

  5. Discuss the concept of sustainability and socially responsible economic policies.


Assessment Strategies
Students will be assessed through a group project which will involve applying the macroeconomic theory to a global economy and identifying ways in which economic policies can be implemented to overcome threats and exploit opportunities for the country.

A final examination will assess the student's understanding of macroeconomic theory and their ability to apply it to real world economies.

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 apply macroeconomic theory to an economy. 1,2,3,5 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 4rd Edition New York: Routledge

McDowell, M. et al Principles of Economics European Edition Berkshire: McGraw Hill Education
Other Resources
Students will be required to access Moodle and/or S:Drive to review materials posted by the lecturer.
Url Resources
www.wto.org

www.oecd.org

www.weforum.com

www.economist.com
Additional Info