5N1350: Analyse The Role Of The Key Players In The Irish Economy: Applied Economics Assignment, UCD, Ireland

Instructions:

You are required to produce a typed study of the macroeconomic topics identified in sections 1, 2 & 3 in the context of the Irish Economy.

Section 1: Analyse the role of the key players in the Irish economy:

1. The government. Investigate methods/ways of government intervention and the advantages and disadvantages of intervention.

2. The firm

3. The ECB

4. The consumer

 Section 2: Fiscal and Monetary Policy. Research major economic policy in Ireland

1. Explain what fiscal policy is and use diagrams to aid your explanation. Identify one major fiscal policy implemented in Ireland and discuss why the government would have implemented this policy i.e. the macroeconomic aim of this policy.

2. Explain what monetary policy is and use diagrams to aid your explanation. Identify a major monetary policy implemented in Ireland and discuss why you think this monetary policy would have been implemented i.e. the macroeconomic aim of this policy.

Section 3: International Trade. Explore the impact of being a small, open economy on Ireland’s balance of trade and balance of payments

 1. Briefly define an open economy and Ireland’s position within the EU

2. What is the balance of payments?

3. What is the balance of trade?

4. Identify Ireland’s major trading partners

5. Which goods or services are mainly involved?

6. Identify the importance and implications of international trade

7. What is the value of the trade (2017, 2018, or 2019)?

8. What are the risks involved in trading in general?

9. Identify a range of barriers to free trade