Module Details

Module Code: ECON C1318
Module Title: Macroeconomics
Title: Macroeconomics
Module Level:: 6
Credits:: 5
Module Coordinator: Myles Kelly
Module Author:: Enda Cassin
Domains: Business
Module Description: This module is designed to enable students to acquire a knowledge and understanding of the fundamental macroeconomic concepts necessary for the work of a business professional. Students are introduced to the core areas of macroeconomic theory providing them with a toolkit for analysing economic and business questions.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the macroeconomic environment within which Irish firms and managers operate
LO2 Illustrate and explain key models of macroeconomics
LO3 Apply basic macroeconomic analysis to explain economic and business issues
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
 
Indicative Content
Measurement of macroeconomic activity
National income statistics (G.D.P. and G.N.P.); The circular flow model of economic activity; The three methods for measuring economic activity; The Irish National Accounts Limitations of using G.D.P. and G.N.P. as measures of economic activity
The Determination of National Income
The Keynesian approach; Aggregate Demand: Consumption, savings, investment, government; expenditure, exports and imports; The multiplier and accelerator; Paradox of Thrift
Government & the Economy
Role of government within an economy; Economic Policy Objectives; Attributes of a good tax system; Direct and Indirect taxation; Public sector borrowing; The Budget; National Debt; Fiscal Policy
Money and Banking
The nature and functions of money; The demand for and supply of money; Interest rate determination; The role of a central bank; The European Central Bank; Ireland and the Euro; Monetary Policy
Inflation and Unemployment
Measuring inflation; Demand pull and cost push theories of inflation; The Philip's curve; Effects of inflation; Policies to reduce high inflation; The Irish experience with inflation; Deflation; Theories of unemployment; Costs of unemployment; Policies to reduce unemployment; The Irish experience with unemployment
International Trade and Finance
What is Globalisation?; Introduction to the theories of international trade; Barriers to trade and Government intervention in international trade; Free trade and the World Trade Organisation (W.T.O); Single European Market; Balance of payments; Introduction to exchange rate regimes.
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment40.00%
End of Module Formal Examination60.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Other % of Total Mark 40
Timing Week 7 Learning Outcomes 1,2,3
Non-marked No
Assessment Description
Learners will be required to demonstrate the achievement of the learning outcomes through continuous assessment work. This work may take the form of an essay, class test, project, MCQ test, but is not limited to these formats.
No Project
No Practical
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 60
Timing End-of-Semester Learning Outcomes 1,2,3
Non-marked No
Assessment Description
Learners will be required to demonstrate the achievement of the learning outcomes through continuous assessment work. This work may take the form of an essay, class test, project, MCQ test, but is not limited to these formats.
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

SETU Carlow Campus reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Class based instruction Every Week 3.00 3
Independent Learning Time Non Contact No Description Every Week 6.00 6
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Class based instruction Every Week 1.50 1.5
Independent Learning Non Contact No Description Every Week 7.50 7.5
Total Weekly Contact Hours 1.50
 
Module Resources
Recommended Book Resources
  • Turely G and Maloney M. (2011), Principles of Economics an Irish Textbook, 4th Ed.. Gill and Macmillan.
Supplementary Book Resources
  • Begg D. Vernasca G. Fischer S. and Dornbusch R. 2020, Economics, 12th. Ed., McGraw-Hill. (2020), Economics, 12th Ed.. McGraw-Hill.
  • Sloman J. Guest J. Garratt D.. (2018), Economics, 10th Ed.. Pearson.
Recommended Article/Paper Resources
  • The Irish Times.
  • The Economist.
Other Resources
  • , www.cso.ie.
  • , www.esri.ie.
  • , www.data.worldbank.org.
Discussion Note: