ECON06020 2022 Introduction to Economics
Full Title
Introduction to Economics
Transcript Title
Introduction to Economics
Code
ECON06020
Attendance
N/A %
Subject Area
ECON - Economics
Department
MKTS - Marketing, Tourism & Sport
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, Aileen Brennan, David O'Halloran
Programme Membership
SG_BSPOR_H08 202200 Bachelor of Business (Honours) in Sport with Business
SG_BAPPL_B07 202200 Bachelor of Business in Applied Sport with Business
Description
This module introduces the learner to Micro and Macro Economics and aims to instil an understanding and appreciation of how the economy operates. The module will provide the learner with the skills and vocabulary necessary to analyse and research the economics issues which arise in an ever changing economic environment. The learner will be given the basic tools needed to understand the issues and the confidence to develop his own thoughts independently
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Introduce students to the world of economics, its main economic systems and the role of the government.
2.
Investigate the forces of demand and supply and their ability to set market equilibrium and dis equilibrium.
3.
Examine how national income, money, inflation and elasticity effect the effect the economy.
4.
Review Ireland's economic situation and evaluate the Irish economic policies past and present, with special attention to the sports sector.
Teaching and Learning Strategies
The student will engage with the content of the module through lectures and case studies
Module Assessment Strategies
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Repeat Assessments
As stated in marks and standards
Indicative Syllabus
Introduction to economics
- Define Economics
- Role of Economics
- Factors of Production
- Choice /Scarcity /Opportunity Cost
- Economics systems
- Principles of Economics
Role of the Government
- Macro‑economic objectives of the Government
- Fiscal and monetary policy
- Budgetary considerations
- Government manipulation of the business cycle
Demand and Supply
- Define market, demand and supply
- Define factors affecting demand and supply
- Determine the price and output levels with the market
- Market equilibrium
- Market disequilibrium
National Income
- Define National Income, GDP, GNP, NFIA
- Circular Flow of Income
- Methods of Calculating NI, Income, Output & Value Added
- Failures of traditional national income calculation
Money
- Define money
- Define money's main role and characteristics
- History of money
- Credit creation
Inflation
- Define Inflation
- Types of inflation
- Causes of inflation
- Consequences of inflation
- Calculating inflation
Elasticity
- Define Elasticity
- Types of Elasticity
- Determining Elasticity
- Calculating Elasticity and Interpreting the results
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
50 %
End of Semester / Year Formal Exam
50 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Continuous Assessment | Coursework Assessment | Assessment | 25 % | Week 4 | 1 |
| 2 | Continuous Assessment | Coursework Assessment | Assessment | 25 % | Week 8 | 2 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final written | Final Exam | Closed Book Exam | 50 % | End of Semester | 1,2,3,4 |
Full Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Not Specified | Formal lecturer | 4 | Weekly | 4.00 |
| Independent Learning | Not Specified | Self directed learning | 4 | Weekly | 4.00 |
Total Full Time Average Weekly Learner Contact Time 4.00 Hours
Module Resources
Non ISBN Literary Resources
Turley, G. Maloney, M. Principles of Economics. Gill & MacMillan, Any Year
- ISBN‑10 0717149889
- ISBN‑13 9780717149889
Krugman,P. Wells, Robin. Economics, Worth Publishers; Sixth edition, 2021
- ISBN-10 : 1319383521
- ISBN-13 : 978-1319383527
Updated Literary Resources
Journal Resources
URL Resources
Tutor2U ..... YouTube
Khan Academy .... YouTube
Economist .....YouTube
RTE.IE
www.CSO.IE
www.finance.gov.ie
www.oecd.org
Other Resources
Additional Information