ECON08005 2016 Macroeconomics 1 for Bachelor of Business L8
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_BMARK_H08 202000 Bachelor of Business (Honours) in Marketing
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)
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.