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_K08 201600 Bachelor of Business (Honours) in Business in Finance Stream (Add-on) 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_BSPOR_H08 201900 Bachelor of Business (Honours) in Sport with Business SG_BINTE_H08 201900 Bachelor of Business (Honours) in International Marketing and Languages SG_BTOUR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BMARK_H08 202000 Bachelor of Business (Honours) in Marketing SG_BTOUR_K08 202100 Level 8 Honours Degree Add-on in Tourism with Event Management SG_BSPOR_K08 202100 Level 8 Honours Degree Add-on in Sport with Business SG_BBUSI_K08 202100 Bachelor of Business (Honours) in Business L8 (Add-on) DoMTS SG_BFINA_H08 202100 Bachelor of Business (Honours) in Business in Finance and Investment SG_BTOUR_H08 202100 Bachelor of Business (Honours) in Business in Tourism with Event Management SG_BINTE_H08 202100 Bachelor of Business (Honours) in International Marketing and Languages SG_BBMTS_K08 202100 Bachelor of Business (Honours) in Business L8 (Add-on) DoMTS SG_BFINA_K08 202100 Bachelor of Business (Honours) in Finance Stream (Add-on) SG_BFINV_K08 202100 Bachelor of Business (Honours) in Business in Finance and Investment Stream(Add-on) SG_BGENE_K08 202100 Bachelor of Business (Honours) in Business in General Stream (Add-on) SG_BHRMS_K08 202100 Bachelor of Business (Honours) in Business in HRM Stream (Add-on) SG_BSPOR_H08 202100 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;

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

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.

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

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

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.