ECON06011 2016 Introductory Macroeconomics for Marketing

General Details

Full Title
Introductory Macroeconomics for Marketing
Transcript Title
Macroeconomics for Marketing
Code
ECON06011
Attendance
N/A %
Subject Area
ECON - Economics
Department
MRKT - Marketing, Tourism and Leisure
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Louise Walsh
Programme Membership
SG_BINTE_H08 201600 Bachelor of Business (Honours) in International Marketing and Languages SG_BMARK_C06 201600 Higher Certificate in Business in Marketing SG_BIMFR_H08 201900 Bachelor of Business (Honours) in Business in International Marketing with French SG_BIMGE_H08 201900 Bachelor of Business (Honours) in Business in International Marketing with German SG_BIMSP_H08 201900 Bachelor of Business (Honours) in Business in International Marketing with Spanish SG_BDIGI_B07 201900 Bachelor of Business in Digital Marketing SG_BSALE_B07 201900 Bachelor of Business in Business in Marketing and Sales
Description

This module will provide students with a basic understanding of the macroeconomy.  It will help the student to understand the main macroeconomic challenges that exist and the policy options available.

Learning Outcomes

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

1.

Draw and explain the circular flow diagram

2.

Measure national income using the output, income or expenditure methods

3.

Define both inflation and deflation and understand the consequences of both

4.

Define and measure unemployment

5.

Describe the effect of unemployment on the individual and on the economy

6.

Define fiscal policy and understand how it is used in order  to manage the business cycle

7.

Give an overview of Keynesian economic theory and be able to contrast it with the Classical approach

8.

Show how money is created in the modern economy

9.

Define the role of the Central Bank and the uses/limitations of monetary policy

10.

Apply the knowledge of inflation, unemployment, fiscal and monetary policy to the Irish economy

11.

Understand the challenges and prospects for the Irish Economy

Teaching and Learning Strategies

Lectures supported by tutorials

Module Assessment Strategies

Continuous assessment will account for 30% of the overall mark and a final examination will account for 70% of the final mark. 

Repeat Assessments

Repeat exam and/or continuous assessment

Indicative Syllabus

Topic 1: Measuring the Macroeconomy

  • Circular flow
  • National income accounting
  • Three methods of measuring economic activity
  • The Irish Experience

Topic 2: Inflation

  • Define inflation and deflation
  • Consequences of inflation and deflation for the economy and for the individual
  • Explanations of inflation
  • The Irish experience of inflation

Topic 3: Unemployment

  • Defining and measuring unemployment
  • Effects of unemployment
  • Theories of unemployment
  • The Irish experience of unemployment
  • The Phillips Curve

Topic 4: Fiscal Policy and the Budget

  • Defining fiscal policy
  • The budget
  • An introduction to Keynesian economics
  • The Irish experience of fiscal policy

Topic 5: Money and Banking

  • Money, money supply and money creation
  • Interest rate determination
  • The role of a central bank
  • Monetary policy
  • The Irish experience of money and banking

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment will consist of one of the following: group project, written assessment, multiple choice exam, essay or report Continuous Assessment Closed Book Exam 30 % Week 9 1,2,3,4,5,6
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam will comsist of multiple choice questions and/or long questions Final Exam UNKNOWN 70 % End of Term 1,2,3,4,5,6,7,8,9,10,11
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Tiered Classroom Lecture 3 Weekly 3.00
Tutorial Flat Classroom Tutorial 1 Weekly 1.00
Independent Learning UNKNOWN Self Study 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Module Resources

Non ISBN Literary Resources

Turley, Maloney & O'Toole (2011) Principles of Economics An Irish Textbook 4th Edition Dublin: Gill & Macmillan

URL Resources

www.irisheconomy.ie

www.cso.ie

www.ecb.eu

Other Resources

None

Additional Information

None