| Title: | Economics of Global Markets |
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| Long Title: | Economics of Global Markets |
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| Field of Study: |
Economics
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| Valid From: |
Semester 1 - 2022/23 ( September 2022 ) |
| Module Coordinator: |
CAROLINE O REILLY |
| Module Description: |
This module aims to provide students with the tools of analysis necessary to examine the international economy and to explore the key issues that are shaping our global economy. |
| Learning Outcomes |
| On successful completion of this module the learner will be able to: |
| LO1 |
Analyse the Economic Problem and assess international trade theory and policies. |
| LO2 |
Evaluate and interpret macroeconomic concepts for the Irish and international environment. |
| LO3 |
Critically appraise exchange rate determination models. |
| LO4 |
Evaluate and apply theoretical concepts to the analysis of contemporary economic phenomena. |
| Pre-requisite learning |
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).
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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
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| 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.
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| No requirements listed |
Module Content & Assessment
| Indicative Content |
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Introduction to Economics
Economic Problem, Opportunity Cost.
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Macroeconomic Indicators
GDP, GNP, Inflation, Unemployment, Balance of Payments.
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International Trade Theory
Law of Absolute & Comparative Advantage, Trade agreements.
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Foreign Exchange Market
Exchange rate determination through demand and supply, mitigating against exchange rate risk.
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Interpreting and evaluating Economic Data
Evaluating economic analysis presented in academic journal papers and by Economic institutions. Examples chosen may be linked to historical or current national and global events.
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| Assessment Breakdown | % |
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| Course Work | 40.00% |
| End of Module Formal Examination | 60.00% |
| Course Work |
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| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Essay |
For Example: “Compare and assess the macro performance of the Irish economy with another country” |
1,2,3 |
40.0 |
Week 8 |
| End of Module Formal Examination |
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| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Formal Exam |
End-of-Semester Final Examination |
1,2,3,4 |
60.0 |
End-of-Semester |
| 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.
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The institute reserves the right to alter the nature and timings of assessment
Module Workload
| Workload: Full Time |
| Workload Type |
Workload Description |
Hours |
Frequency |
Average Weekly Learner Workload |
| Lecture |
Class based instruction and discussion |
2.0 |
Every Week |
2.00 |
| Independent Learning |
Independent reading and research |
5.0 |
Every Week |
5.00 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
2.00 |
| Workload: Part Time |
| Workload Type |
Workload Description |
Hours |
Frequency |
Average Weekly Learner Workload |
| Lecture |
Class based instruction and discussion |
2.0 |
Every Week |
2.00 |
| Independent Learning |
Independent reading and research |
5.0 |
Every Week |
5.00 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
2.00 |
Module Resources
| Recommended Book Resources |
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- Begg, Fischer & Dornbusch 2020, Economics, 12th Ed., McGraw-Hill [ISBN: 9781526847393]
- Mankiw, G.N. & Taylor, M.P. 2020, Economics, 5th Ed., Cengage Learning EMEA United Kingdom [ISBN: 9781473768543]
| | Supplementary Book Resources |
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- Krugman, P.R., Obstfeld, M., Melitz, M. 2022, International Economics: Theory and Policy, 12th Ed., Pearson Education [ISBN: 9781292409719]
- Husted, S., Melvin, M. 2013, International Economics [ISBN: 9780321783868]
| | This module does not have any article/paper resources |
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| Other Resources |
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- Website: The Economist
- Website: Central Statistics Office
- Website: Eurostat
- Website: Economic and Social Research Institute
- Website: OECD World Economic Outlook
- Website: IMF Economic Outlook
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Module Delivered in
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