ECON06017 2022 Introductory Macroeconomics for Business

General Details

Full Title

Introductory Macroeconomics for Business

Transcript Title

Macroeconomics for Business

Code

ECON06017

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)

Louise Walsh, Clodagh Caslin, Kerry Dolan, Aileen Brennan

Programme Membership

SG_BBUSI_C06 202200 Higher Certificate in Business in Business Studies SG_BBUSS_B07 202200 Bachelor of Business in General Business SG_BBUSM_C06 202200 Higher Certificate in Business in Business Studies SG_BBUSG_B07 202300 Bachelor of Business in General Business

Description

This module will provide students with an introductory understanding of the Macroeconomy. It will help the student to understand the main macroeconomic indicators and the challenges that they present for the Irish Economy. The module will also address the policy options available to meet those challenges.

Learning Outcomes

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

Idebtify and explain the main macroeconomic indicators such as GDP, GNI*, unemployment and inflation.

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

Assess the long run performance of the Irish economy.

Examine the impact of inflation and unemployment on an economy.

Teaching and Learning Strategies

This module will be delivered using a combination of lectures and tutorials.

Module Assessment Strategies

Continuous Assessment will account for 30% of the overall mark and the final exam will account for 70%.

The continuous assessment will consist of one of the following:

Group project
Written Assessment
Multiple choice assessment
Essay
Report

Repeat Assessments

Exam and/or CA depending on results.

Indicative Syllabus

Measuring the Macroeconomy:

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

Inflation:

Define and measure inflation,
Consequences of inflation,
Explanations of inflation,
The Irish experience of inflation.

Unemployment:

Defining and measuring unemployment,
Effects of unemployment,
Theories of unemployment,
The Irish experience of unemployment.

Fiscal Policy and the Budget:

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

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	Coursework Assessment	Assessment	30 %	Any	1,2

End of Semester / Year Assessment

	Title	Type	Form	Percent	Week	Learning Outcomes Assessed
1	Final Exam will comsist 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
Tutorial	Flat Classroom	Tutorial	1	Weekly	1.00
Lecture	Tiered Classroom	Lecture	3	Weekly	3.00

Total Full Time Average Weekly Learner Contact Time 4.00 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

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

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.economist.com

www.cso.ie

www.finance.gov.ie

Irishtimes.ie

guardian.com

Other Resources

None

Additional Information

None