ECON06010 2016 Introduction to Economics

General Details

Full Title
Introduction to Economics
Transcript Title
Introduction to Economics
Code
ECON06010
Attendance
N/A %
Subject Area
ECON - Economics
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
10 - 10 Credits
Duration
Semester
Fee
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Marie Moran, Carol Moran
Programme Membership
SG_BBUSO_C06 201600 Higher Certificate in Business
Description

This module introduces students to the fundamental principles of microeconomics and macroeconomics. It is intended to provide the learner with a clear understanding of the key issues that must be considered in macroeconomic management and economic development. It will also introduce the learner to different economic systems, as well as resource utilisation and demand and supply.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Explain the general principles of economics.

2.

Describe the forces of demand and supply and explain market equilibrium.

3.

Describe the factors of production and explain the principles of scarcity and resource utilisation.

4.

Explain the circular flow of income and the calculation of GDP.

5.

State the causes and consequences of inflation.

6.

Demonstrate an understanding of fiscal policy and monetary policy.

Teaching and Learning Strategies

This module will be taught using lectures/online lectures.

Module Assessment Strategies

Exam and Continuous Assessment

Repeat Assessments

Exam and or Continuous Assessment, depending on results

Indicative Syllabus

Introduction to economics

  • Define Economics
  • Role of Economics
  • Factors of Production
  • Choice
  • Scarcity
  • Opportunity Cost
  • Economic systems

Demand and Supply

  • Define market, demand and supply
  • Define factors affecting demand and supply
  • Determine price and output levels within the market
  • Market equilibrium
  • Situations of market disequilibrium

National Income Accounting

  • Circular flow of income
  • Determination of GDP 

Inflation

  • Definition of inflation
  • Types of inflation
  • Causes of inflation
  • Consquences of inflation
  • Measuring inflation

Fiscal & Monetary Policy

  • Macro-economic objectives of the Government
  • Fiscal and monetary policy

 

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment Continuous Assessment Assessment 40 % Any 2,3,4
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Written exam Final Exam Closed Book Exam 60 % End of Term 1,2,3,4,5,6
             
             

Part Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Not Specified Lecture 2 Weekly 2.00
Independent Learning Not Specified Independent Learning 5 Weekly 5.00
Total Part Time Average Weekly Learner Contact Time 2.00 Hours

Required & Recommended Book List

Recommended Reading
2011-09-01 Principles of Economics. by Gerard Turley, Maureen Maloney, Francis O'Toole Gill & MacMillan
ISBN 0717149889 ISBN-13 9780717149889

Updated edition of this successful textbook, which introduces the theory andpractice of economics within an Irish and European context, with particular reference to both recent and current economic conditions. m Includes a CD-ROM with interactive graphs, self-test multiple choice questions and interactive lessons/tutorials. New to this edition: * New material reflecting the changed economic conditions of the Irish economy resulting from the banking and fiscal crises that began in 2007 * Revised chapter on economic growth and the Irish economy, which includesthe banking crisis and the property crash * Reflections on the Celtic Tiger era, including causes and consequences * New section on the eurozone and sovereign debt crisis * New case studies and questions, with answers now available online * Continues to provide the reader with a solid theoretical grounding in bothmicroeconomics and macroeconomics Includes a CD-ROM with interactive graphs, self-test,multiple choice questions and interactive lessons/tutorials. SUITABLE FOR: Students taking economics at degree, diploma or certificate level. Updated edition of this successful textbook, which introduces the theory and practice of economics within an Irish and European context, with particular reference to both recent and current economic conditions. New to this edition: _ New material reflecting the changed economic conditions of the Irish economy resulting from the banking and fiscal crises that began in 2007 _ Revised chapter on economic growth and the Irish economy, which includes the banking crisis and the property crash _ Reflections on the Celtic Tiger era, including causes and consequences _ New section on the eurozone and sovereign debt crisis _ New case studies and questions, with answers now available online _ Continues to provide the reader with a solid theoretical grounding in both

Module Resources

URL Resources

www.finance.gov.ie

www.oecd.org

www.cso.ie

www.economist.com

Additional Information

None