Module Details

Module Code: ECON7003
Title: The Macroeconomy
Long Title: The Macroeconomy
NFQ Level: Intermediate
Valid From: Semester 1 - 2019/20 ( September 2019 )
Duration: 1 Semester
Credits: 5
Field of Study: 3140 - Economics
Module Delivered in: 3 programme(s)
Module Description: This module builds on the principles of macroeconomics, enhances analytical ability and further develops core Macroeconomics concepts.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the concepts of Aggregate Supply (AS) and Aggregate Demand (AD) and predict the effects of various shocks to the economy using the AS/AD model.
LO2 Describe the various theories of consumption and income.
LO3 Construct and manipulate the Investment-Saving/Liquidity Money Supply (IS/LM) model.
LO4 Analyse Economic & Monetary Union (EMU) membership for Ireland and assess recent economic phenomena in Ireland and the European Union.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
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. You may not enrol on this module if you have not acquired the learning specified in this section.
ECON6003, ECON6001
 
Indicative Content
Theory of Income Determination
Aggregate supply, aggregate demand, demand side and supply side policies, economic theories.
The Consumption Function
The multiplier, open and closed economy, equilibrium level of income and the Keynes model.
IS/LM Model
Equilibrium in the goods market, equilibrium in the money market, implications of monetary and fiscal policy.
The Open Economy
The European and Economic Monetary Union (EMU), costs and benefits of EMU, current economic climate in Ireland and the European Union.
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Short Answer Questions % of Total Mark 30
Timing Week 7 Learning Outcomes 1,2
Assessment Description
Mid-semester written examination on income determination and the consumption function.
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3,4
Assessment Description
End of Semester Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Formal classroom lecture Every Week 3.00 3
Tutorial Contact Discussion / problem solving Every Week 1.00 1
Directed Learning Non Contact Independent reading/study Every Week 3.00 3
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Formal Lecture Every Week 2.00 2
Independent Learning Non Contact Independent Reading/Study Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Anthony J. Leddin and Brendan M. Walsh. (2013), Macroeconomics - An Irish and European Perspective, Gill & Macmillan, Dublin, [ISBN: 9780717156313].
Supplementary Book Resources
  • N. Gregory Mankiw. (2012), Macroeconomics (ebook), 8th. Worth Publishers, New York, [ISBN: 978-142924002].
  • Gerard Turley, Maureen Moloney, Francis O'Toole. (2011), Principles of Economics - An Irish Text, 4th. Gill & Macmillan, Dublin, [ISBN: 9780717149889].
  • John O'Hagan and Carol Newman. (2011), Economy of Ireland, 11th. Gill & Macmillan, Dublin, [ISBN: 9780717149735].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BBUSS_7 Bachelor of Business 5 Elective
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 4 Elective
CR_BACCT_7 Bachelor of Business in Accounting 4 Elective