ECON08005 2016 Macroeconomics 1 for Bachelor of Business L8

General Details

Full Title
Macroeconomics 1 for Bachelor of Business L8
Transcript Title
Macroeconomics 1
Code
ECON08005
Attendance
N/A %
Subject Area
ECON - Economics
Department
BUS - Business
Level
08 - NFQ Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Carol Moran
Programme Membership
SG_BFINA_H08 201600 Bachelor of Business (Honours) in Finance and Investment SG_BINTE_H08 201600 Bachelor of Business (Honours) in International Marketing and Languages SG_BGENE_K08 201600 Bachelor of Business (Honours) in General Stream (Add-on) SG_BHRMS_K08 201600 Bachelor of Business (Honours) in HRM Stream (Add-on) SG_BFINV_K08 201700 Bachelor of Business (Honours) in Finance and Investment Stream(Add-on) SG_BFINA_K08 201600 Bachelor of Business (Honours) in Finance Stream (Add-on) SG_BTOUR_H08 201900 Bachelor of Business (Honours) in Business in Tourism with Event Management 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_BBMTS_K08 201900 Bachelor of Business (Honours) in Business L8 (Add-on) DoMTS SG_BSPOR_H08 201900 Bachelor of Business (Honours) in Sport with Business
Description

This module will explore the management of the macroeconomy and how policy decisions can be made to achieve desirable economic goals.  A review of introductory macroeconomic theory and the principles of economics will give the student an understanding of the context in which the policy issues arise.  Students will develop an understanding of national and international macroeconomic issues and how they are managed and/or mismanaged. 

Learning Outcomes

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

1.

Understand the principles of economics and their relevance to macroeconomic policy.

2.

Classify economies according to their type of economic systems and construct an argument as to what type of economic system is most socially and economically desirable.

3.

Measure and analyse economic growth and decline cycles and determine the causes of booms and recessions.

4.

Evaluate the benefits of international trade and analyse the effect of protectionism on the international trading system.

5.

Interpret fiscal policy and examine the effect that taxation and government expenditure have on the public finances. 

Teaching and Learning Strategies

Students will attend formal lectures and tutorials, in addition to self directed learning from relevant sources. 

Module Assessment Strategies

The student will be required to write an essay demonstrating their understanding of key macroeconomic issues.

The final examination will assess the student's level of macroeconomic knowledge, their ability to apply it to the real work and their ability to understand the uses and limitations of macroeconomic policies. 

Repeat Assessments

Examination. 

Indicative Syllabus

Topic 1: Introduction to Macroeconomics

  • Ten principles of economics
  • Topics of interest to macroeconomists
  • How macroeconomists think

Topic 2: Economic Systems

  • Capitalism, command and mixed economic systems
  • Classifying economic systems
  • Transition economies
  • Role and limitations of government in macroeconomic management

Topic 3: Economic Growth & Recession

  • Measuring economic performance (real Vs nominal measures)
  • Exploring trends in economic performance
  • Causes and consequences of recession
  • Fiscal stimulus Vs Laissez-faire economics

Topic 4: International Trade

  • Absolute and comparative advantage
  • Protectionist policies and their impact
  • Free trade areas, customs unions, economic and monetary union
  • Impact of international trade on global development
  • Anti-international trade arguments

Topic 5: Fiscal Policy

  • Nature and tools of fiscal policy
  • Public finances and budgetary decisions
  • Uses and limitations of fiscal policy
  • Implementing Irish fiscal policies within and EU framework

 

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 Project Students will be required to construct an essay either on an individual or group basis. Continuous Assessment Essay 30 % Week 8 1,2,3
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam written examination Final Exam Closed Book Exam 70 % End of Term 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre Lecture 2 Weekly 2.00
Tutorial Not Specified Tutorial 1 Weekly 1.00
Independent Learning UNKNOWN Independent Learning 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Module Resources

Non ISBN Literary Resources

Cleaver, T. (2013) Understanding the World Economy 4th Edition New York: Routledge

McDowell, M. et al Principles of Economics European Edition Berkshire: McGraw Hill Education

URL Resources

www.finfacts.ie

www.economist.ie

www.imf.org

www.worldbank.org

 

Other Resources

None.

Additional Information

None.