Module Specifications..
Current Academic Year 2023 - 2024
Please note that this information is subject to change.
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Description The purpose of this module is to introduce students to macroeconomic economic theory and policy. Economic concepts and models will be evaluated as explanations of the workings and outcomes of the macroeconomy. In turn, the conclusions from this analysis will point to macroeconomic policy proposals (and their evaluation). The module also to introduce students to microeconomic theory, principles, policy and practice. Economic concepts and models will be assessed and evaluated as explanations of the workings and outcomes of the micro economy including consumers, enterprises and markets. In addition, the conclusions from the above will inform microeconomic policy issues and their evaluation. This module is delivered through a combination of lectures and tutorials and supported by sets of on-line activities. | |||||||||||||||||||||||||||||||||||||||||
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Learning Outcomes 1. define key concepts used in micro and macroeconomics 2. present elementary models and theories describing economic processes in a market economy 3. apply these economic concepts and theories to analyse numerical data and real world situations 4. Present and evaluate microeconomic theories and models 5. Discuss and assess the form and consequences of Government microeconomic policy and market intervention | |||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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Indicative Content and Learning Activities
Macroeconomic objectives and policiesIntroduction to macroeconomics; relationship to microeconomics; introduction of main variables of focus; recent macroeconomic history; macroeconomic debates; measuring national income; short term growth and the business cycle; long run growth and its determinantsMacroeconomic theoryAggregate demand and national income - the circular flow model; the multiplier effect; Keynesian analysis of unemployment and inflation; rational expectations and the New Classical alternative.Demand and supply theory and applicationsDemand curves and functions, utility theory and indifference curves, supply curves and functions, application of s/d theory, market price, shifts in curves, maximum and minimum price intervention, tax incidence, critique of s/d model as explanation of actual worldTheory of firm and market structureTypes of profit and their roles, profit maximising rule of MC=MR, revenue maximising objective, other objectives of firm, characteristics of perfect competition, monopolistic competition and advertising, oligopoly and monopoly, perfect competition model and PC short-run and long-run equilibrium positions, monopoly model and equilibrium, use of models to compare and contrast competition and monopoly, application to actual worldRole of money in the economyRole and function of money; demand for money; supply of money and the operations of the Central Bank; the financial sector and its relationship to monetary policy; | |||||||||||||||||||||||||||||||||||||||||
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Indicative Reading List | |||||||||||||||||||||||||||||||||||||||||
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Other Resources None | |||||||||||||||||||||||||||||||||||||||||
Programme or List of Programmes
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