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.
Introduction to Macroeconomics
Economic concepts and economic models; the relationship between micro and macro models
Measuring the Macroeconomy
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. Fiscal Policy. Government Accounts.
Money and Banking
Money, the fractional reserve banking system, the European Central Bank, interest rates and monetary policy.
Open Economy Macroeconomics
International trade theory, balance of payments, exchange rate determination, exchange rate regimes. Economic and Monetary Union, the Irish experience.
Current Macroeconomic Issues
Current Macroeconomic Issues such as unemployment, inflation, booms and crisis in the international (financial) economy and in the Irish economy, Brexit and other issues as they arise.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Other Assessment(s) | 30 |
| Formal Examination | 70 |