Module Title:Agricultural Economics 2
Language of Instruction:English
Credits: 5
NFQ Level:7
Module Delivered In 2 programme(s)
Teaching & Learning Strategies: Lecture based teaching, and group discussion on relevant macro-economic issues Focus on Class interaction and discussion through the use of current/relevant examples from media sources. Use of CATs (Classroom Assessment Techniques) to support formative learning (examples include class debates, quizzes etc.) Use of multi-media – analysis of relevant documentaries, Government discussion etc.
Module Aim: The aims of this module are to familiarise learners with the principles of macro-economics that relate to the farming and agricultural sector and to provide learners with an in-depth understanding of the role that economics play in the macro and micro agri-sector, both domestically and globally. Its further aim is to equip learners with the tools to critically evaluate key economic policy decisions taken at national and international level.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Demonstrate a knowledge of the principles of macro-economics and its applications to agricultural problems;
LO2 Apply the principles of economics to the Macro agricultural sector;
LO3 Evaluate and critically analyse national and global economic policies in relation to the farming sector;
LO4 Interpret the impact of economic policies on the agricultural sector.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed

Module Content & Assessment

Indicative Content
• Macro-economic analysis of the global farming and food industries. • History of Farming In Ireland; Importance of Farming and the Agri-Sector to the Irish Economy; • The Food Industry; Export Sector;
Measuring the Macro-economy and the Determination of National Income
• Circular flow • Three methods of measuring economic activity • National • Accounts/ • Limitations of GDP • Model for determination of National Income • IS/LM model.
Money, Banking, Interest Rates and Monetary Policy
• Role of money in the economy • Functions of money • Credit creation • Central bank/interest rates
The Open Economy and International Trade
• Theories of International Trade • Balance of payments deficit and surplus • Exchange rates • European Integration and the Eurozone • International Trade and Agricultural Policy – WTO issues;
Current Macro Economic Issues
• Inflation • Unemployment • The Irish Economy • Economic Growth
• History of the CAP • The CAP and the European Agricultural Sector – rationale, effects and implications
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Examination Class Test: Short questions in a class test – to reinforce key concepts 1,2,3 10.00 n/a
Written Report Economic Analysis 4 10.00 n/a
Essay Essay 2,3,4 10.00 n/a
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam Terminal Examination 1,2,3,4 70.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment


Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture 30 Weeks per Stage 1.50
Independent Learning 24 Weeks per Stage 4.58
Total Hours 155.00

Module Delivered In

Programme Code Programme Semester Delivery
CW_SWSFM_B Bachelor of Science (Honours) in Sustainable Farm Management and Agribusiness 3 Mandatory
CW_SWSFM_D Bachelor of Science in Sustainable Farm Management and Agribusiness 3 Mandatory