Module Title:Macroeconomics
Language of Instruction:English
Credits: 5
NFQ Level:6
Module Delivered In 7 programme(s)
Teaching & Learning Strategies: Lectures - communication of knowledge and ideas from the lecturer to the student. Problem Solving Exercises - student will work as part of a team and will work together to resolve various business scenarios. Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. E-Learning - It is envisaged that the module will be supported with on-line learning materials. Self-Direct Independent Learning - the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim: This module is designed to enable students to acquire a knowledge and understanding of the fundamental macroeconomic concepts necessary for the work of a business professional. Students are introduced to the core areas of macroeconomic theory providing them with a toolkit for analysing economic and business questions.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Explain the macroeconomic environment within which Irish firms and managers operate
LO2 Illustrate and explain key models of macroeconomics
LO3 Apply basic macroeconomic analysis to explain economic and business issues
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
Requirements
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
Measurement of macroeconomic activity
National income statistics (G.D.P. and G.N.P.); The circular flow model of economic activity; The three methods for measuring economic activity; The Irish National Accounts Limitations of using G.D.P. and G.N.P. as measures of economic activity
The Determination of National Income
The Keynesian approach; Aggregate Demand: Consumption, savings, investment, government; expenditure, exports and imports; The multiplier and accelerator; Paradox of Thrift
Government & the Economy
Role of government within an economy; Economic Policy Objectives; Attributes of a good tax system; Direct and Indirect taxation; Public sector borrowing; The Budget; National Debt; Fiscal Policy
Money and Banking
The nature and functions of money; The demand for and supply of money; Interest rate determination; The role of a central bank; The European Central Bank; Ireland and the Euro; Monetary Policy
Inflation and Unemployment
Measuring inflation; Demand pull and cost push theories of inflation; The Philip's curve; Effects of inflation; Policies to reduce high inflation; The Irish experience with inflation; Deflation; Theories of unemployment; Costs of unemployment; Policies to reduce unemployment; The Irish experience with unemployment
International Trade and Finance
What is Globalisation?; Introduction to the theories of international trade; Barriers to trade and Government intervention in international trade; Free trade and the World Trade Organisation (W.T.O); Single European Market; Balance of payments; Introduction to exchange rate regimes.
Assessment Breakdown%
Continuous Assessment100.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Other Learners will be required to demonstrate the achievement of the learning outcomes through continuous assessment work. This work may take the form of an essay, class test, project, MCQ test, but is not limited to these formats. 1,2,3 50.00 Week 7
Other Learners will be required to demonstrate the achievement of the learning outcomes through continuous assessment work. This work may take the form of an essay, class test, project, MCQ test, but is not limited to these formats. 1,2,3 50.00 Week 12
No Project
No Practical
No End of Module Formal Examination

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 Every Week 3.00
Independent Learning Time Every Week 6.00
Total Hours 9.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 1.50
Independent Learning Every Week 7.50
Total Hours 9.00
 

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBBBM_B Bachelor of Business (Honours) in Management 2 Mandatory
CW_BBOPT_B (BAKB) Bachelor of Business (Honours) in Marketing 2 Mandatory
CW_BBHRM_D Bachelor of Business in Human Resource Management 2 Mandatory
CW_BBINB_D Bachelor of Business in International Business incorporating Double Degree 2 Mandatory
CW_BBOPT_D (BAKD) Bachelor of Business in Marketing 2 Mandatory
CW_BBSCM_D Bachelor of Business in Supply Chain Management 2 Mandatory
CW_BBBUS_C Higher Certificate in Business 2 Mandatory