The aim of this module is to build upon the principles learned in Economics One and to provide the learner with a strong economics foundation through understanding the key principles of how the macro economy functions and how it relates to the Tourism and Hospitality Industry. The concepts introduced in this module provide students with skills which can be applied in their career.
Measuring the Macroeconomy
Measuring economic activity, national income accounts, the circular flow of income, the multiplier, limitations of GDP as a measure of economic activity.
Fiscal Policy and Taxation
The role of Taxation, Types of Fiscal policy, The Budget
Money and Banking
Money, interest rates, the European Central Bank, Monetary policy, Fiscal versus Monetary policy
Macroeconomic Issues
Unemployment, Inflation, International trade theory and Environmental Externalities
The Government & The Economy
The Economic Role of the Government, The main aims of government policy. Understanding the arguments for and against State Enterprise.
Ireland & The EU
The Role of the European Union, Current Economic Issues
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |