Module Title:The Global Economy 1
Language of Instruction:English
Credits: 5
NFQ Level:8
Module Delivered In 4 programme(s)
Teaching & Learning Strategies: Lectures - communication of knowledge and ideas from the lecturer to the student. Problem Solving Exercises - student will work to resolve various international economic type 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: The aim of this module is to equip the student with an in-depth understanding of the Global Economy and the International Economic environment, by offering a range of areas that explore issues surrounding international trade theory and policy, economic development, and economic regional integration. This module aims to develop students’ knowledge and awareness of the Global Economy and the factors from the International Economic Environment that impact on all areas of an economy.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Understand, analyse and evaluate international trade theory and policy;
LO2 Discuss and critically evaluate the benefits and costs accruing from regional integration;
LO3 Understand, analyse and evaluate economic development;
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.
economics 1

Module Content & Assessment

Indicative Content
The Theory of International Trade
An overview of trade theory; Mercantilism; Absolute advantage; Comparative Advantage; Heckscher-Ohlin Model; The product life cycle theory; The first mover theory; National competitive advantage; Location theory; Implications for business.
International Trade Policy
The World Trade Organisation; Instruments of trade policy; Tariffs & subsidies; Import quotas and voluntary export restraints; Anti- dumping policies; The case for government intervention; The case for free trade; Trade barriers and firm strategy.
Regional Integration
Types of regional integration; Free trade area; Customs union; Common market;Economic union; The benefits of integration; Case studies on economic integration; The European Union; The North American free trade agreement; Asia pacific economic cooperation.
Economic Development
Characterisitics of less developed countries; Less developed countries and debt; Theories of economic development.
Assessment Breakdown%
Continuous Assessment100.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Essay Academic Essay 1,2 50.00 Week 6
Essay Academic Essay 3 50.00 Week 11
No Project
No Practical
No End of Module Formal Examination

SETU Carlow Campus reserves the right to alter the nature and timings of assessment


Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture 12 Weeks per Stage 3.00
Independent Learning Time 15 Weeks per Stage 5.93
Total Hours 125.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 1.50
Independent Learning Time Every Week 7.50
Total Hours 9.00

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBLAW_B Bachelor of Business (Honours) in Business with Law 7 Elective
CW_HHIBU_B Bachelor of Business (Honours) in International Business 7 Mandatory
CW_BBBBM_B Bachelor of Business (Honours) in Management 7 Mandatory
CW_BRLMB_B Bachelor of Business(Honours) in Management 4 Elective