ECON08006 2022 Macroeconomics 2

General Details

Full Title
Macroeconomics 2
Transcript Title
Macroeconomics 2
Code
ECON08006
Attendance
N/A %
Subject Area
ECON - 0311 Economics
Department
BUS - Business
Level
08 - Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Kerry Dolan, Aileen Brennan, Carol Moran
Programme Membership
SG_BMARK_H08 202200 Bachelor of Business (Honours) in Marketing SG_BTEVM_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BHRMS_K08 202200 Bachelor of Business (Honours) in Business with Human Resource Managment (Add-on) SG_BGENE_K08 202200 Bachelor of Business (Honours) in General Business (Add-on) SG_BFINV_K08 202200 Bachelor of Business (Honours) in Business with Finance and Investment (Add-on) SG_BFINA_H08 202200 Bachelor of Business (Honours) in Finance and Investment SG_BTOUR_K08 202200 Bachelor of Business (Honours) in Tourism with Event Management (Add-on) SG_BTOUR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BINTE_H08 202200 Bachelor of Business (Honours) in International Marketing and Languages SG_BBMTS_K08 202200 Bachelor of Business (Honours) in Business with Marketing (Add on) SG_BTOUR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BTOTR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management
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.

Analyse the labour market and the challenge unemployment poses for the macro-economy.

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. Students will gather longitudinal economic data from a country of their choice and determine the factors affecting the main economic indicators of that country in the past century.  Based on their analysis, the students will offer suggestions as to how the country can optimise future economic growth and minimise any threats to the economy.  

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

LO 1: Inflation

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

LO 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

LO 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

LO 4: Case Studies in Macroeconomic Management

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

LO 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
40 %
End of Semester / Year Formal Exam
60 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Project. Students will be required to apply macroeconomic theory to an economy. Coursework Assessment Group Project 40 % 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 Closed Book Exam 60 % 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
Tutorial Flat Classroom Co-creation of assessment tutorial 1 Weekly 1.00
Independent Learning UNKNOWN Independent Learning 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2018-09-17 Macroeconomics Worth Publishers
ISBN 1319105998 ISBN-13 9781319105990

Mankiw's Macroeconomics has been the number one book for the intermediate macro course since the publication of the first edition. It maintains that bestselling status by continually bringing the leading edge of macroeconomics theory, research, and policy to the classroom, explaining complex concepts with exceptional clarity. This new edition is no exception, with Greg Mankiw streamlining his hallmark approach and adding powerful new digital learning options while improving the book's already exemplary focus on teaching students to apply the analytical tools of macroeconomics to current events and policies.

Required Reading
2016-08-11 Contemporary Economics
ISBN 1138652199 ISBN-13 9781138652194

The 8th Edition of Contemporary Economics continues to offer a clear, concise presentation of basic micro- and macroeconomic theory. Emphasising how the discipline of economics connects to the world, the book takes a friendly and accessible tone, illustrating theory with applications. This new edition comes with updated applications and data to reflect the changing world events since the previous edition was published. With a vast range of updated applications, the handbook uses real world, globally relevant examples that make the subject easy to understand. New and updated topics include: Energy and oil Economic sanctions on Russia and Iran The Eurozone Crisis The Trans-Pacific Partnership China and the world currency market Including a Companion Website complete with instructor s manual, lecture slides and test bank, as well as an online study guide and multiple choice questions for students, Contemporary Economics is suitable for both economics students and non-majors studying economics and economic issues at the introductory level. "

Required Reading
2010 When Money Dies PublicAffairs
ISBN 9781586489946 ISBN-13 1586489941

Presents a history of the 1923 German economic crisis that made the currency worthless, reduced the country to a barter economy, and left severe social unrest in its wake.

Module Resources

URL Resources

www.wto.org

www.oecd.org

www.weforum.com

www.economist.com

Other Resources

Students will be required to access Moodle to review materials posted by the lecturer related to global macroeconomic events.

Additional Information

None.