ECON06023 2021 Introductory Microeconomics

General Details

Full Title
Introductory Microeconomics
Transcript Title
Introductory Microeconomics
Code
ECON06023
Attendance
N/A %
Subject Area
ECON - Economics
Department
MKTS - Marketing, Tourism & Sport
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2021 - Full Academic Year 2021-22
End Term
9999 - The End of Time
Author(s)
Mr. John Kelleher, Louise Walsh
Programme Membership
SG_BTOUR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BINTE_B07 202200 Bachelor of Business in International Tourism with Event Management SG_BMKTG_B07 202000 Bachelor of Business in Marketing SG_BMARK_H08 202000 Bachelor of Business (Honours) in Marketing
Description

This module introduces the student to the basic concepts of microeconomics and to provide them with the ability to understand the behaviour of firms and markets. 

Learning Outcomes

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

1.

Understand the discipline of economics and why it is relevant to business

2.

Analyse and calculate how changes to prices, income and substitutes affect demand

3.

Explain how the firm decides how much to produce 

4.

List and explain the various forms of market structures

Teaching and Learning Strategies

Lectures supported by tutorials

Module Assessment Strategies

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

The continuous assessment will consist of one of the following:

  • Group project
  • Written assessment
  • Multiple choice assessment
  • Essay
  • Report

Repeat Assessments

Exam and / or continuous assessment

Indicative Syllabus

Topic 1: Introduction to Economics

  • Define economics
  • Role of economics
  • Factors of production
  • Choice
  • Scarcity
  • Opportunity cost
  • Different economic systems

Topic 2: Demand and Supply

  • Define market, demand and supply
  • Define the factors affecting demand and supply
  • Determine the prices and output levels within the market
  • Market equilibrium
  • Price controls
  • Market failure

Topic 3: Elasticity

  • Define elasticity
  • Types of elasticity
  • Calculating elasticity
  • Use of elasticity

Topic 4: Production, Cost and the Firm

  • Production function
  • Law of diminishing returns
  • The costs of the firm
  • Economies/diseconomies of scale
  • Revenue
  • Profit maximisation

Topic 5: Market Structures

  • Perfect competition
  • Monopoly
  • Imperfect competition

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 One of the following: Group project, Written exam, Multiple choice exam, Essay or Report Continuous Assessment UNKNOWN 30 % Week 8 1,4
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam comprising multiple choice and/or long questions Final Exam UNKNOWN 70 % End of Term 1,2,3,4
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Tiered Classroom Lecture 2 Weekly 2.00
Tutorial Flat Classroom Tutorial 1 Weekly 1.00
Independent Learning Not Specified Self Study 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Required & Recommended Book List

Required Reading
2017-02-14 Economics
ISBN 147372533X ISBN-13 9781473725331

Now firmly established as one of the leading economics principles texts in the UK and Europe, this exciting new fourth edition of Economics by N. Gregory Mankiw (Harvard University) and Mark P. Taylor (Washington University), has been fully updated. New topics have been added in including theories on, for example, Marxist and Feminist theories on labour giving wider context to economic issues. A new chapter on Issues in Financial markets has been added covering the financial crisis and its causes and the final chapter has been updated to reflect the post-crisis world and how theories of the crisis have emerged.

Module Resources

Non ISBN Literary Resources

Turley, Maloney & O'Toole (20011) Principles of Economics An Irish Textbook 4th Edition Dublin: Gill & Macmillan

Journal Resources

 

 

 

 

URL Resources

www.economist.com

www.irishtimes.com

 

 

Other Resources

None

Additional Information

None