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Module Specifications

Archived Version 2016 - 2017

Module Title
Module Code

Online Module Resources

NFQ level 8 Credit Rating 5
Pre-requisite None
Co-requisite None
Compatibles None
Incompatibles None

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). This module is delivered through a combination of lectures and tutorials and supported by sets of on-line activities.

Learning Outcomes

1. define key concepts used in 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. discuss and and assess the role of the government and central bank in the economy.

Workload Full-time hours per semester
Type Hours Description
Lecture24Formal Lecture outlining key concepts and ideas
Tutorial6Tutorials centred on weekly exercises
Independent Study20Preparation for in-class MCQ test
Independent Study70Textbook study, exam preparation, problems, LOOP quizzes and exercises
Total Workload: 120

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

Indicative Content and Learning Activities

Macroeconomic objectives and policies
This section provides a broad introduction to the context of macroeconomic policy: a simple model of the national economy is presented and differing views as to its operation are explored and the policy trade-offs that follow.

National income accounting & determination
A formal model of the determination of national income in the short run is derived. Using this model, the measurement of national income and welfare is assessed, followed by an in-depth examination of the implications for the management of the national economy of this model.

Role of money in the economy
The role and functions of money, credit creation, and the central bank in the money supply process are examined. In turn, the role of money and monetary policy in the determination of national income are assessed.

Unemployment and inflation
The topics of inflation and unemployment in modern economies are examined. In particular the policy dilemma in targeting one or other of these problems is explored.

The open economy
In this section, the performance of the macroeconomy and the influences of the international economy is assessed. What are the impacts of international trade and exchange rate regimes on economic performance?

Macroeconomic schools of thought
Competing macroeconomic schools of thought, such as Classical, Keynesian, and Monetarist economic theory, are discussed. Their origins are placed in historical context and their enduring policy relevance is explored.

Assessment Breakdown
Continuous Assessment% Examination Weight%
Course Work Breakdown
TypeDescription% of totalAssessment Date
Reassessment Requirement
Resit arrangements are explained by the following categories;
1 = A resit is available for all components of the module
2 = No resit is available for 100% continuous assessment module
3 = No resit is available for the continuous assessment component
Indicative Reading List

  • John Sloman: 2009, Economics, 7th Edition, Financial Times Press,
  • Gregory Mankiw: 2012, Macroeconomics, 8th edition, MacMillan,
Other Resources

Programme or List of Programmes