• ECON1003
  • Economics

  • Credits (ECTS): 10
  • Accounting and Finance

Modules are delivered
as part of a programme.
To apply for the
see the DIT website

Module Description

This module represents an introduction to the economic way of thinking with an emphasis on the principles of microeconomics and macroeconomics which will provide a basis for further study and progression.

Indicative Syllabus

Introduction to Economics as a social science. Economic systems. Concepts of scarcity, choice and opportunity cost.
Demand, supply and the determination of equilibrium price. Elasticity. Maximum and minimum prices.
Consumer theory.
Costs of production in the short and long run. Profit maximisation.
Models of market structure.
The market for factors of production.
Market failure and externalities. Government intervention. Redistribution.
Introduction to macro-economics
Methods of measuring economic activity
Circular Flow and National Accounts.
Income determination. Multiplier. Business Cycle. Unemployment,
Objectives of macroeconomic policy. Fiscal Policy.
Aggregate Demand /Aggregate Supply. Inflation
Money. Money Creation. Central Banks. Money Supply. Interest Rates. Monetary Policy. International Trade. Balance of Payments. Exchange Rate Systems.

Total Contact Teaching Hours:72

Please note that the catalogue is provided as a guide to modules in DIT. Not all modules listed will necessarily be offered every year and new modules may also be added. Information subject to change. For detail on specific programmes/modules please contact the relevant School directly.