ECON06010 2016 Introduction to Economics
Full Title
Introduction to Economics
Transcript Title
Introduction to Economics
Code
ECON06010
Attendance
N/A %
Subject Area
ECON - 0311 Economics
Department
BUS - Business
Level
06 - Level 6
Credit
10 - 10 Credits
Duration
Semester
Fee
€
Start Term
2016 - Full Academic Year 2016-17
End Term
2022 - Full Academic Year 2022-23
Author(s)
Marie Moran, Carol Moran
Programme Membership
SG_BBUSO_C06 201600 Higher Certificate in Business in Business in Business
SG_BBSOL_C06 202000 Higher Certificate in Business
Description
This module introduces students to the fundamental principles of microeconomics and macroeconomics. It is intended to provide the learner with a clear understanding of the key issues that must be considered in macroeconomic management and economic development. It will also introduce the learner to different economic systems, as well as resource utilisation and demand and supply.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Explain the general principles of economics.
2.
Describe the forces of demand and supply and explain market equilibrium.
3.
Describe the factors of production and explain the principles of scarcity and resource utilisation.
4.
Explain the circular flow of income and the calculation of GDP.
5.
State the causes and consequences of inflation.
6.
Demonstrate an understanding of fiscal policy and monetary policy.
Teaching and Learning Strategies
This module will be taught using lectures/online lectures.
Module Assessment Strategies
Exam and Continuous Assessment
Repeat Assessments
Exam and or Continuous Assessment, depending on results
Indicative Syllabus
Introduction to economics
- Define Economics
- Role of Economics
- Factors of Production
- Choice
- Scarcity
- Opportunity Cost
- Economic systems
Demand and Supply
- Define market, demand and supply
- Define factors affecting demand and supply
- Determine price and output levels within the market
- Market equilibrium
- Situations of market disequilibrium
National Income Accounting
- Circular flow of income
- Determination of GDP
Inflation
- Definition of inflation
- Types of inflation
- Causes of inflation
- Consquences of inflation
- Measuring inflation
Fiscal & Monetary Policy
- Macro-economic objectives of the Government
- Fiscal and monetary policy
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Continuous Assessment | Coursework Assessment | Assessment | 40 % | Any | 2,3,4 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final Exam Written exam | Final Exam | Closed Book Exam | 60 % | End of Term | 1,2,3,4,5,6 |
Part Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Not Specified | Lecture | 2 | Weekly | 2.00 |
| Independent Learning | Not Specified | Independent Learning | 5 | Weekly | 5.00 |
Total Part Time Average Weekly Learner Contact Time 2.00 Hours
Required & Recommended Book List
Recommended Reading
2011-09-01 Principles of Economics. by Gerard Turley, Maureen Maloney, Francis O'Toole Gill & MacMillan
ISBN 0717149889 ISBN-13 9780717149889
2011-09-01 Principles of Economics. by Gerard Turley, Maureen Maloney, Francis O'Toole Gill & MacMillan
ISBN 0717149889 ISBN-13 9780717149889
Updated edition of this successful textbook, which introduces the theory andpractice of economics within an Irish and European context, with particular reference to both recent and current economic conditions. m Includes a CD-ROM with interactive graphs, self-test multiple choice questions and interactive lessons/tutorials. New to this edition: * New material reflecting the changed economic conditions of the Irish economy resulting from the banking and fiscal crises that began in 2007 * Revised chapter on economic growth and the Irish economy, which includesthe banking crisis and the property crash * Reflections on the Celtic Tiger era, including causes and consequences * New section on the eurozone and sovereign debt crisis * New case studies and questions, with answers now available online * Continues to provide the reader with a solid theoretical grounding in bothmicroeconomics and macroeconomics Includes a CD-ROM with interactive graphs, self-test,multiple choice questions and interactive lessons/tutorials. SUITABLE FOR: Students taking economics at degree, diploma or certificate level. Updated edition of this successful textbook, which introduces the theory and practice of economics within an Irish and European context, with particular reference to both recent and current economic conditions. New to this edition: _ New material reflecting the changed economic conditions of the Irish economy resulting from the banking and fiscal crises that began in 2007 _ Revised chapter on economic growth and the Irish economy, which includes the banking crisis and the property crash _ Reflections on the Celtic Tiger era, including causes and consequences _ New section on the eurozone and sovereign debt crisis _ New case studies and questions, with answers now available online _ Continues to provide the reader with a solid theoretical grounding in both
Module Resources
URL Resources
www.finance.gov.ie
www.oecd.org
www.cso.ie
www.economist.com
Additional Information
None