Economics II (Level 8)

Duration 12 weeks Full-time x 2.5 hours per week

Stage 2

NFQ Level Level 8

ECTS Credit 5

The Economics II module builds on foundational concepts introduced in Economics I, delving into macroeconomic principles and their impact on business and economic policy. Key topics include national income determination, inflation, unemployment, monetary and fiscal policy, and international trade. Students explore how economic indicators influence business decisions and analyse the role of government and central banks in managing economic stability.

Through real-world applications and case studies, this module equips students with the analytical tools needed to understand economic trends and their implications for businesses, preparing them for strategic decision-making in a global economic landscape.

Request Callback

Indicative Syllabus

Macroeconomic health of a country

Measuring an economy’s growth
Gross domestic product, gross national product, boom and bust cycle
Consumption, investment, government expenditure, imports and exports
Causes and consequences of inflation
Measuring inflation and purchasing power parity
Labour market measurement – unemployment and labour activation measures

Monetary and fiscal policies

Government responses to smooth the business cycle
Keynesianism – pro-cyclical and counter-cyclical policies
Money supply, quantitative easing, open market operations, reserve requirements, interest rates
Quantity theory of money, cost push and demand-pull inflation
Monetary and fiscal policy responses to inflation

Strategies for governments

Underreported unemployment, under-employment and discouraged workers
Impediments to full employment
The Phillips Curve, menu of choice
Fiscal and monetary policy responses to unemployment

Module Details

Minimum Intended Learning Outcomes (MIMLOS)

On completion of this module the learner will be able to:

Describe the operation of the economy and the part played by international trade;
Evaluate the economic health of a country using key indicators such as GDP, Unemployment and Inflation;
Appraise the concept of free trade and the role of the EU in economic policy making;
Describe the micro and macro economical business environment;
Examine various monetary and fiscal policies used to minimise the impact of the boom or bust cycle.

Assessments / Exams

MIMLOs
Assessment
Percentage

This module will be assessed via 50% Proctored exam and 50% Continuous Assessment.

Reassessment Opportunity

Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board Meeting and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Economics II (Level 8)

Expert Faculty

Learn from the best in your industry

Flexible Learning Options

Study your way, on your time

Career Focused Programmes

Programmes with purpose, aimed at your future

Student Support Services

Here for you, every step of the way

Get in touch

If you have any questions specific to this course, you can speak directly with one of our course lecturers. Please get in touch, we’re happy to help!