Economics for Banking & Finance - BFIPO25

 


Economics for Banking and Finance                                    BFIP025

Semester

Autumn

Level

11

Credit value

10

Module Co-ordinator

Dr. Maria Grydaki

Lecturers

Dr. Maria Grydaki / Dr Siobhan Lucey

Contact hours

12 lectures + 5 workshops

Assessment

100% assessment (resubmission available) involving 2 class tests

Objectives

  • To introduce students to economics as a discipline.
  • To focus on aspects of economics most relevant to later modules and for a career in banking and finance or business.

Learning outcomes

Knowledge and understanding of:

  • the factors which influence demand for and supply of goods and services
  • the relationship between price and revenue
  • conditions that determine the level of output produced by a profit maximising firm
  • the features of different market structures
  • the households’ labour supply decision and how wages are determined
  • causes of market failures and government policies to address them
  • the main macroeconomic goals of governments
  • macroeconomic instability, the circular flow of income and the equivalence between national income, national output and national expenditure
  • the distinction between equilibrium and potential output, and the role of the income multiplier in fiscal policy demand management
  • the business cycle, determination of the level of investment and the reasons for instability in the aggregate demand for investment
  • the determinants of short and long term economic growth
  • the demand for money, the supply of money, the determination of the interest rate, and monetary policy demand management

Indicative reading

Mishkin, F. S. (2012), The Economics of Money, Banking and Financial Markets, 10th ed., Pearson Education.

 

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