This module aims to introduce students to macroeconomic concepts, the macroeconomic forces affecting
the Irish Economy, and the role of macroeconomics in business. The concepts introduced in this module
can be applied in their business career and provides a foundation for future modules.
See above
Introduction to Macroeconomics
Economic concepts and economic models; from microeconomic to macroeconomic models.
Measuring the Macroeconomy and Understanding Economic Activity
Measuring and calculating national income, national income accounts, limitations of GDP as a measure of economic activity.
Framework for Macroeconomic Analysis
The circular flow of income, the business cycle, the multiplier and income determination and the limitations of the the Keynesian approach to managing the level of output and employment.
Explaining the Macroeconomy
Aggregate Demand, Aggregate Supply, Classical and Keynesian views and the policy debate. The role of Government and Fiscal Policy.
Money and Banking (Monetary Policy)
Money, the fractional reserve banking system, the European Central Bank, interest rates, exchange rates and monetary policy.
Open Economy Macroeconomics
International trade theory, absolute and comparative advantage, terms of trade, balance of payments.
Current Macroeconomic Issues
Current Macroeconomic Issues such as unemployment, inflation, Brexit and other issues affecting the Irish economy.
Economics is introduced in year 1 and developed further in semester 3 of year 2. Finance is introduced in semester 4 in year 2 with the module Personal Finance. This progresses on to Financial Management in year 3 culminates in year 4 with International Corporate Finance, Banking & Financial Services and Sustainable Finance. The teaching strategy for the Economics and Finance modules is one which emphasises the need for the student to be actively engaged in the learning process, both in class and when they are studying in their own time. In order to achieve this, students are encouraged to ask and answer questions during class, to participate in class discussions, to do examples in class as well as following worked solutions prepared by the lecturer. Students are required to engage with the financial press to support the development of their understanding.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |