ECON06013 2022 Introductory Macroeconomics for Business

General Details

Full Title
Introductory Macroeconomics for Business
Transcript Title
Macroeconomics for Business
Code
ECON06013
Attendance
N/A %
Subject Area
ECON - Economics
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
David O'Halloran, Louise Walsh, Clodagh Caslin, Marie Moran, Kerry Dolan
Programme Membership
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business SG_BFINA_H08 202200 Bachelor of Business (Honours) in Finance and Investment
Description

This module should provide students with an introductory understanding of the macro economy.  It will help the student to discuss the main macroeconomic challenges that exist. 

Learning Outcomes

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

1.

Examine the main macroeconomic indicators such as GDP, unemployment and inflation.

2.

Define Fiscal and Monetary Policy and explain the effects of both on national income. 

3.

Assess the performance of the Irish economy.

4.

Examine the impact of inflation and unemployment on an economy.

Teaching and Learning Strategies

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

Module Assessment Strategies

Continuous assessment will account for 30% of the overall mark and a final examination will account for 70% of the final mark. 

Repeat Assessments

Examination and/or CA.

Indicative Syllabus

Topic 1: Measuring the Macroeconomy

  • Circular flow
  • National income accounting
  • Three methods of measuring economic activity
  • Limitations of GDP

Topic 2: Inflation

  • Define and measure inflation
  • Consequences of inflation
  • Explanations of inflation
  • The Irish experience of inflation

Topic 3: Unemployment

  • Defining and measuring unemployment
  • Effects of unemployment
  • Theories of unemployment
  • The Irish experience of unemployment

Topic 4: Fiscal Policy and the Budget

  • Defining fiscal policy
  • The budget
  • An introduction to Keynesian economics
  • The Irish experience of fiscal policy

Topic 5: Money and Banking

  • Money, money supply and money creation
  • Interest rate determination
  • The role of a central bank
  • Monetary policy
  • The Irish experience of money and banking

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 Continuous Assessment will consist of any of the following: group project, written assessment, multiple choice exam, essay or report Continuous Assessment Assessment 30 % Any 4
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam will consist of multiple choice questions and/or long questions Final Exam Closed Book Exam 70 % End of Term 1,2,3,4
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Tiered Classroom Lecture 3 Weekly 3.00
Tutorial Flat Classroom Tutorial 1 Weekly 1.00
Independent Learning Not Specified Independent learning 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2021-12-15 Sloman, Garratt & Guest Economics 11e epdf Pearson Higher Ed
ISBN 9781292405391 ISBN-13 1292405392

For students taking introductory courses in the Principles of Economics. Discover the exciting world of economics and learn to think like an economist, applying key economic concepts and data to understand and analyse solutions to real-world problems from global issues to a range of everyday problems that affect us all. Economics, 11th edition by Sloman, Garratt and Guest is an essential resource for students of economics, providing a thorough grounding in economic theory and practice, as well as an insight into the constantly-changing and often complex issues and problems faced by economists today. Comprehensive, yet accessible, the 11th edition of this best-selling student text has been extensively revised and rewritten to reflect the latest events and developments that have impacted the global economy in the 2020s, including the effects of the Covid-19 pandemic and its aftermath, globalisation, the climate emergency facing our planet, the rise in populism and the large-scale migration of people across and within continents, presenting both economic problems and opportunities. Personalise learning with MyLab Economics. By combining trusted author content with digital tools and a flexible platform, MyLab Economics personalises the learning experience and improves results for each student. 9781292405421 Sloman, Garratt & Guest, Economics, 11th edition PLUS MyLab Economics with eText access card Pack consists of: 9781292405339 Economics, 11e (print book) 9781292405377 MyLab Economics Instant Access Card 9781292405384 MyLab Economics eText Pearson, the worlds learning company. NOTE: Before purchasing, check with your instructor to confirm the correct ISBN. Several versions of the MyLabTM platforms exist for each title, and registrations are not transferable. To register for and use MyLab Economics, you may also need a Course ID, which your instructor will provide. Used books, rentals, and purchases made outside of Pearson: If purchasing or renting from companies other than Pearson, the access codes for the MyLab platform may not be included, may be incorrect, or may be previously redeemed. Check with the seller before completing your purchase.

Module Resources

Non ISBN Literary Resources
Journal Resources
URL Resources

www.wto.org

www.oced.org

www.economist.com

www.finance.gov.ie

www.cso.ie

 

Other Resources

None

Additional Information

None