ECON08006 2016 Macroeconomics 2

General Details

Full Title
Macroeconomics 2
Transcript Title
Macroeconomics 2
Code
ECON08006
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
Description

Building on the material from Macroeconomics 1 for Bachelor of Business L8, the student will explore the macroeconomic challenges that economies face and learn how best these challenges can be overcome.  The student will use the theoretical framework to apply economic theory to modern economies with which they are familiar. 

Learning Outcomes

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

1.

Discuss the causes, consequences and potential solutions to inflation.

2.

Full understand the labour market and the challenge unemployment poses for the macroeconomy.

3.

Analyse monetary policy and demonstrate an understanding on how interest rates are determined.

4.

Apply, through the use of case study analysis, a knowledge of macroeconomic challenges posed for individuals, governments and society. 

5.

Discuss the concept of sustainability and socially responsible economic policies.

Teaching and Learning Strategies

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

Module Assessment Strategies

Students will be assessed through a group project which will involve applying the macroeconomic theory to a global economy and identifying ways in which economic policies can be implemented to overcome threats and exploit opportunities for the country. 

A final examination will assess the student's understanding of macroeconomic theory and their ability to apply it to real world economies. 

Repeat Assessments

Examination.

Indicative Syllabus

Topic 1: Inflation

  • Measurements of inflation, CPI, HICP, Household Budget Survey
  • Causes of inflation
  • Effect of inflation
  • Methods of ensuring stable low inflation is achieved

Topic 2: Labour Market Challenges

  • Defining and measuring the labour market
  • Unemployment, causes, consequences and impediments to full employment
  • Impact of unemployment on the individual, economy and society
  • The Phillips Curve

Topic 3: Monetary Policy & Interest Rate Determination

  • Defining money and monetary policy
  • The role and monetary instruments of Central Banks
  • Loanable and liquidity preference funds theory of interest rate determination
  • Uses and limitations of monetary policy, especially in small open economies

Topic 4: Case Studies in Macroeconomic Management

  • The Irish Economy
  • Global Economic Superpowers
  • Emerging Economies
  • Least Developed Economies

Topic 5: Responsible Macroeconomics

  • Ethical considerations for the macroeconomist
  • Sustainable development
  • Environmental impact of economic activity
  • Role of international organisations such as WTO and OECD

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 apply macroeconomic theory to an economy. Continuous Assessment Group Project 30 % Week 8 1,2,3,5
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam written examination Final Exam UNKNOWN 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 4rd Edition New York: Routledge

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

URL Resources

www.wto.org

www.oecd.org

www.weforum.com

www.economist.com

Other Resources

Students will be required to access Moodle and/or S:Drive to review materials posted by the lecturer.

Additional Information

None.