ECON06017 2016 Introductory Macroeconomics for Business

General Details

Full Title
Introductory Macroeconomics for Business
Transcript Title
Macroeconomics for Business
Code
ECON06017
Attendance
N/A %
Subject Area
ECON - Economics
Department
BUS - Business
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)
Clodagh Caslin, Marie Moran
Programme Membership
SG_BBUSI_C06 201600 Higher Certificate in Business SG_BBUSS_B07 201600 Bachelor of Business in Business L7 SG_HJOIN_H08 201700 Bachelor of Arts (Honours) in Humanities in Joint Majors: Sociology and Politics SG_HJOIN_H08 201900 Bachelor of Arts (Honours) in Humanities in Joint Majors: Sociology and Politics SG_BBUSI_C06 201900 Higher Certificate in Business SG_BBUSS_B07 201900 Bachelor of Business in Business L7
Description

This module will provide students with an introductory understanding of the macroeconomy, and the challenges associated with macroeconomic management.

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.

Determine the limitations of Gross Domestic Product

4.

Define and measure inflation

5.

Define and measure unemployment

6.

Explain the effects of unemployment on the individual, the economy and society

7.

Define fiscal policy and understand the national budget

8.

Give an overview of Keynesian economic theory

9.

Explain how money is created and controlled

10.

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

11.

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

Teaching and Learning Strategies

This module will be delivered using a combination of lectures and 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

Exam and/or CA depending on results.

Indicative Syllabus

Topic 1: Measuring the Macroeconomy

  • Circular flow
  • National income accounting
  • Three methods of measuring economic activity
  • Limitations of GDP

Topic 2: Inflation

  • Define and measure inflation
  • Consequences of inflation
  • 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

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 any of the following: group project, written assessment, multiple choice exam, essay or report Continuous Assessment Assessment 30 % Any 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 Closed Book Exam 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 2 Weekly 2.00
Tutorial Flat Classroom Tutorial 2 Weekly 2.00
Total Full Time Average Weekly Learner Contact Time 4.00 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.economist.com

www.cso.ie

www.finance.gov.ie

Other Resources

None

Additional Information

None