ECON06020 2016 Introduction to Economics

General Details

Full Title
Introduction to Economics
Transcript Title
Introduction to Economics
N/A %
Subject Area
ECON - Economics
BUS - Business
06 - NFQ Level 6
05 - 05 Credits
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
David O'Halloran
Programme Membership
SG_BAPPL_C06 201600 Higher Certificate in Business in Applied Sport SG_BAPPL_B07 201900 Bachelor of Business in Applied Sport with Business SG_BSPOR_H08 201900 Bachelor of Business (Honours) in Sport with Business SG_BSPOR_H08 202100 Bachelor of Business (Honours) in Sport with Business SG_BAPPL_B07 202100 Bachelor of Business in Applied Sport with Business

This module introduces the learner to Micro and Macro Economics and aims to instill an understanding and appreciation of how the economy operates. The module will provide the learner with the skills and vocabulary necessary to analyse and research the economics issues which arise in an ever changing economic environment. 

Learning Outcomes

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


Introduction to the basic thoughts and ideas associated with economics


Identify the Role of the Government in an economy


Understand how demand and supply interact to determine prices and output levels in a market


Explain approaches to National Income Accounting


Understand the role of money, banking and monetary policy in our economic system


Define and calculate Inflation


Make students aware of Ireland's economic history

Teaching and Learning Strategies

The student will engage with the content of the module through lectures and case studies

Module Assessment Strategies

This will consist of two 20% continous assessments and one final exam worth 60%.

Repeat Assessments

As stated in marks and standards

Indicative Syllabus

An Introduction to economics

  • Define Economics
  • Role of Economics
  • Factors of Production
  • Choice /Scarcity /Opportunity Cost
  • Different Economics systems and thought
  • Ten Pronciples of Economics

Role of the Government

  • Macro‑economic objectives of the Government
  • Fiscal and monetary policy
  • Budgetary considerations
  • Government manipulation of the business cycle
  • Role of the European Union

Demand and Supply 

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


National Income

  • Define National Incone, GDP, GNP, NFIA
  • Circular Flow of Income
  • Methods of Calculating NI, Income, Output & Value Added
  • Alternatives to calculating a countries wellbeing


  • Define money
  • Define money's main role and characteristics
  • History of money
  • Investigate the role of the Ireland's and the Euroopean Central Bank
  • Credit creation

5.0 Inflation



  • Types of inflation
  • Causes of inflation
  • Consquences of inflation
  • Measuring inflation
  • Deflation

Ireland's economice history

  • Ireland pre and post EU
  • Main economic shocks that have shaped Ireland
  • Nationalk ststistics

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 written Continuous Assessment Assessment 20 % Week 6 1,2,3
2 Continuous written Continuous Assessment Assessment 20 % Week 20 4,5,6,7

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final written Final Exam Closed Book Exam 60 % End of Semester 1,2,3,4,5,6,7

Full Time Mode Workload

Type Location Description Hours Frequency Avg Workload
Lecture Not Specified Formal lecturer 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Module Resources

Non ISBN Literary Resources

Gerard Turley 2011 Principles of Economics. by Gerard Turley, Maureen Maloney, Francis O'Toole Gill & MacMillan

ISBN‑10 0717149889 ISBN‑13 9780717149889


URL Resources

YouTube ... various channels

Khan Academy