MGMT7017 - Economic Data and Principles

Module Details

Module Code: MGMT7017
Title: Economic Data and Principles
Long Title: Economic Data and Principles
NFQ Level: Fundamental
Valid From: Semester 1 - 2016/17 ( September 2016 )
Duration: 1 Semester
Credits: 5
Field of Study: 3450 - Business & Management
Module Delivered in: 1 programme(s)
Module Description: This module will introduce the student to the principles of economics. It will provide them with the tools of analysis necessary to examine concepts of microeconomics, macroeconomics and the economic way of thinking.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Explain the basic economic concepts such as opportunity cost, scarcity and choice.
LO2 Explain the operation of the economy as a total system and examine the market using demand and supply analysis.
LO3 Analyse the use of economic theory in labour economics.
LO4 Describe the various methods used to measure economic activity and economic performance.
LO5 Discuss the role of government through monetary and fiscal policy.
LO6 Explain the significance of inflation, unemployment, interest and exchange rates for the economy and business organisations.
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.
No requirements listed
 
Indicative Content
Introduction to Microeconomics
Concepts of scarcity, choice, efficiency, opportunity cost and the economic problem.
Demand and Supply Analysis
Analyse different markets using the consumer and demand, producer and supply, market equilibrium, the price mechanism and price controls.
Labour Economics
Demand and supply of labour, labour market equilibrium, minimum wage analysis, marginal physical product and marginal revenue product.
Measuring Economic Activity
Gross Domestic Product (GDP), Gross National Product (GNP), National Income and statistics from the Irish economy.
Role of the Government
The budget, fiscal policy, general government borrowing and debt, monetary policy and the European System of the Central Bank.
Economic Data
Inflation, unemployment, interest rates, exchange rates and statistics from the Irish economy.
Module Content & Assessment
Assessment Breakdown%
Coursework40.00%
End of Module Formal Examination60.00%

Assessments

Coursework
Assessment Type Multiple Choice Questions % of Total Mark 40
Timing Week 7 Learning Outcomes 1,2,3,4
Assessment Description
In-class multiple choice and short questions on microeconomics and macroeconomics
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 60
Timing End-of-Semester Learning Outcomes 1,2,3,4,5,6
Assessment Description
End-of-Semester Final 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 Classic Lecture Every Week 3.00 3
Lecturer Supervised Learning (Non-contact) Non Contact Reading, Research and Private Study Every Week 4.00 4
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Classic Lecture Every Week 2.00 2
Independent & Directed Learning (Non-contact) Non Contact Directed Learning, Research, Work-based Learning and Private 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
  • Turley, Maloney and O'Toole. (2011), Principles of Economics - An Irish Text, 4th Edition. Gill & Macmillan, Dublin, [ISBN: 9780717149889].
Supplementary Book Resources
  • David Begg, Stanley Fischer, Rudiger Dornbusch. (2011), Economics, 9th Edition. [ISBN: 9780077154516].
  • John Sloman, Alison Wride, Dean Garratt. (2012), Economics, 8th Edition. [ISBN: 9780273763246].
  • Leddin, Anthony J, and Walsh, Brendan M.. (2013), Macroeconomics - An Irish and European Perspective, Gill & Macmillan, [ISBN: 9780717156313].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BHRMN_7 Bachelor of Arts in Human Resource Management 4 Mandatory