The Economy of Ireland

Module Code: EC2020

Module Title: Economy of Ireland

• ECTS Weighting: 10
• Semester/Term Taught: Michaelmas + Hilary Term
• Contact Hours: 44 hours of lectures and 10 hours of tutorials
• Module Personnel: Lecturer - Professor John O'Hagan

Learning Outcomes

On successful completion of this module you will be able to:

• Review and summarise relevant reading material on various key aspects of Irish economic policy and apply what you have learned to new data and situations;
• Explain the importance and relevance of the information contained in reading material on Irish economic policy;
• Apply basic economic thinking to issues of Irish economic policy;
• Compare and contrast different aspects of the policy debate surrounding Irish economic policy;
• Formulate a balanced, critical judgment on the status of each of these debates.

Module Learning Aims

The aim of course is to provide an account of the main features, performance and associated policy issues of the Economy of Ireland. In pursuit of this aim, the course begins with a brief overview of the evolution of the Irish economy in the 19th and 20th centuries. The objectives of Irish economic policy are then defined and evaluated in terms of their desirability. The role of the government in achieving these objectives is then examined in detail. The rest of the course attempts to undertake a detailed appraisal of the extent to which the objectives of Irish economic policy are met and also deals with the policy issues to which their attainment gives rise. The course concludes with an analysis of some of the main sectors of the economy and their associated policy issues.

Students taking this course need a knowledge of basic economic concepts such as national income, efficiency, economic growth and so on. Students without any previous training in economics have successfully completed this course but in each case the student in question allocated considerable extra time to making up the deficiency in his/her knowledge and have a prior interest, or a willingness to develop an interest, in current economic and political affairs. The course is also taken by many visiting students.

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Module Content

Michaelmas Term:

1. Historical Background. The evolution of the Irish economy from the 19th century to the present day.
2. Policy Objectives for a Regional Economy. Economic growth and equality, employment, price stability and competitiveness.
3. Policy Implementation I. Role of government: rationale, levels and size.
4. Policy Implementation II. Taxation.
5. Policy Implementation III: Regulation and Competition Policy.
6. Policy Performance I. Population, employment and unemployment.

Hilary Term::

1. Policy Performance II. Growth in output and living standards.
2. Policy Performance III. Social Justice and Equity.
3. Sectoral Analysis I. Manufacturing and traded services.
4. Sectoral Analysis I. Manufacturing and traded services.
5. Sectoral Analysis IV: Physical infrastructure and energy sector.
6. Sectoral Analysis III. Health or education sector: funding and issues.

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Recommended Reading List

O'Hagan, John and Carol Newman (eds): The Economy of Ireland : National and Sectoral Policy Issues, (11th edition), Gill and Macmillan, Dublin August 2011.

Students are encouraged to keep abreast of on-going current economic development events through reading the business/economics sections of Irish newspapers and international publications such as the Economist and the Financial Times.

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Assessment Details

The allocation of assessment marks will be as follows:

• 20% test due to be taken in teaching Week 8, MT.
• 20% for test to be taken in teaching week 8, HT.
• 60% for summer examination (starting around mid May)

For students here for Michaelmas Term only, they will have to submit extra essays (details to follow later) due first week HT: the test in this case will account for 50 per cent of the total grade, and the essays for the other 50 per cent. For students here for Hilary Term only, the test will account for 50 per cent and the examination for 50 per cent. Such students will have to answer test and examination questions only relating to HT.

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Module Website

http://www.tcd.ie/Economics/staff/johagan/ec2020/

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