Module Details

Module Code: ECON C4302
Module Title: The Global Economy 1
Title: The Global Economy 1
Module Level:: 8
Credits:: 5
Module Coordinator: Martin Meagher
Module Author:: Dominic Burke
Domains: Business
Module Description: The aim of this module is to equip the student with an in-depth understanding of the Global Economy and the International Economic environment, by offering a range of areas that explore issues surrounding international trade theory and policy, economic development, and economic regional integration. This module aims to develop students’ knowledge and awareness of the Global Economy and the factors from the International Economic Environment that impact on all areas of an economy.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Understand, analyse and evaluate international trade theory and policy;
LO2 Discuss and critically evaluate the benefits and costs accruing from regional integration;
LO3 Understand, analyse and evaluate economic development;
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
The Theory of International Trade
An overview of trade theory; Mercantilism; Absolute advantage; Comparative Advantage; Heckscher-Ohlin Model; The product life cycle theory; The first mover theory; National competitive advantage; Location theory; Implications for business.
International Trade Policy
The World Trade Organisation; Instruments of trade policy; Tariffs & subsidies; Import quotas and voluntary export restraints; Anti- dumping policies; The case for government intervention; The case for free trade; Trade barriers and firm strategy.
Regional Integration
Types of regional integration; Free trade area; Customs union; Common market;Economic union; The benefits of integration; Case studies on economic integration; The European Union; The North American free trade agreement; Asia pacific economic cooperation.
Economic Development
Characterisitics of less developed countries; Less developed countries and debt; Theories of economic development.
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment100.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Essay % of Total Mark 50
Timing Week 6 Learning Outcomes 1,2
Non-marked No
Assessment Description
Academic Essay
Assessment Type Essay % of Total Mark 50
Timing Week 11 Learning Outcomes 3
Non-marked No
Assessment Description
Academic Essay
No Project
No Practical
No End of Module Formal Examination
Reassessment Requirement
Exam Board
It is at the discretion of the Examination Board as to what the qualifying criteria are.

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 No Description 12 Weeks per Stage 3.00 36
Independent Learning Time Non Contact No Description 15 Weeks per Stage 5.93 89
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 No Description Every Week 1.50 1.5
Independent Learning Time Non Contact No Description Every Week 7.50 7.5
Total Weekly Contact Hours 1.50
 
Module Resources
Recommended Book Resources
  • NYU Stern. (2017), The Global Economy, NYU Stern Department of Economics, New York.
Supplementary Book Resources
  • Thomas Pugel. (2020), International Economics, 17th. McGraw-Hill.
  • Michael P. Todaro,Stephen C. Smith. (2021), Economic Development, 12th. Pearson Education, p.860, [ISBN: 1292002972].
  • Charles Hill. (2021), International Business: Competing in a Global Marketplace, 13th. McGraw-Hill.
  • Paul R. Krugman Maurice Obstfeld Marc J. Melitz. (2018), International Economics: Theory and Policy, 11th. Pearson.
  • Dennis R Appleyard,Alfred J Field. (2017), International Economics, 9th. McGraw-Hill Education, p.832, [ISBN: 125929062X].
  • Peter Dicken. (2015), Global Shift, 7th. SAGE Publications Limited, p.648, [ISBN: 9781446282106].
This module does not have any article/paper resources
Other Resources
Discussion Note: