Courses offered may change from time to time owing to staff availability.

Visiting students should make contact with the

Departmental Office or their programme co-ordinator before making their final course choice.

These courses are open to visiting students and to students participating in the Erasmus exchanges directly negotiated by
the Department of Economics or by the Departments of Business Studies, or Political Science, or Sociology. Students
participating in other Erasmus programmes will only exceptionally be permitted to take these courses, and then only by
agreement with the Head of the Department of Economics.

EC1030 Mathematics - Statistics

Duration: Academic year
Contact hours p/w: 3 lectures; 1 class
Assessment: 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The course covers descriptive and inferential statistics, statistical data sources, index
numbers, moethods of descriptive statistics and elementary probability. The principles of linear algebra will also be
covered, together with linear programming.

EC1040 Introduction to Economic Policy

Duration: Academic year
Contact hours: 2 x 1 hour lectures per week
Assessment: 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: Professor Antoin Murphy is teaching the first module and Professor Kevin O'Rourke is
teaching the second module. Details of the course can be found on
http://www.tcd.ie/bess/downloads/FullBooklet2008.091.pdf on page 53.

EC2010 Intermediate Economics

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: This course comprises two separate modules of 22 lectures each dealing with the theories
of macroeconomics and microeconomics in that order. Macroeconomics: The aim will be to develop an
understanding of how the economy as a whole operates, the forces which affect its performance and the
consequences of pursuing various economic policies. Microeconomics: develops the theories of consumer
behaviour, production and costs and market structures and examines how factors of production are priced in
competitive and non-competitive markets. Students are introduced to the elements of welfare economics, which
provide the vital link between positive economic analysis and economic policy making.

EC2020 The Economy of Ireland

Duration: Academic year
Contact hours p/w: 2 lectures; occasional classes
Assessment: 1 term tests; 1 project, 1 x 3 hour exam
Weighting: 10 ECTS
Description: The purpose of the course is to familiarise the student with some of the problems which
arise in the running of any economy. Most of the actual case studies in the lectures will be based on the Irish
experience, an economy which faces the general problems both of advanced and less advanced market economies.

EC2030 Economics of Public Policy

Duration: Academic year
Contact hours p/w: 2 lectures; occasional classes
Assessment: 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The purpose of the course is to develop the analytical framework for the examination of
the output of government as an economic entity both in the areas of resource allocation and income distribution.
The course will cover the economic aspects of government interventions over a wide area including housing, health,
income distribution, education, labour markets, transport, etc.
EC2040 Mathematical and Statistical Methods
Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: Class exercises; 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The course is divided into two sections Mathematics and Statistics. Mathematics deals
with such topics as classical optimisation as applied to economics and business and dynamic problems involving
integration. Statistics covers such topics as probability and inference, random variables, sampling distributions,
estimation, hypothesis testing; selected topics with business and economic applications: regression/correlation,
contingency tables and goodness of fit, analysis of variance, nonparametric tests, decision theory.

EC3010 Economic Analysis

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 2 assessments; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The first half of the course - microeconomics - builds on the second-year course and
topics covered include general equilibrium and welfare, consumer surplus analysis, intertemporal problems,
uncertainty, insurance, portfolio analysis. The second half of the course will be in macroeconomics and covers
consumption, investment, money demand, inflation, monetary policy, fiscal policy and the labour market.

EC3021 Money and Banking

Duration: Academic year
Contact hours p/w: 2 lectures; occasional classes
Assessment: 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The first module analyzes the behaviour of banks and other financial intermediaries such
as insurance companies. An introduction to the microeconomic theories of banking and insurance will be
complemented by a description of recent trends in the operations and governance of intermediaries. The second
module covers monetary theory and its relevance to macroeconomic policy. It examines the nature of money,
Keynesianism, monetarism and the new classical macroeconomics, and finishes with a look at EMU, the Euro, and
the ECB.

EC3030 European Economy

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 test; 1 essay; 1 x 3 hour exam
Weighting: 10 ECTS
Description: This course provides the theoretical and historical background to post-war economic
integration in Europe and thereby equips students with an advanced understanding of the issues at the forefront of
current public debate. The relevant strands of modern economic theory are examined in the context of the
european experience. Particular attention is devoted to policy areas in which EU co-ordination has progressed most:
monetary integration, internal market, external trade policy, regional policy, factor mobility, agriculture and
competition policy.

EC3040 Economics of Less Developed Countries

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 term test; 1 essay; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The course looks at the problems of economic development in the countries of the Third
World. It aims to acquaint students with the recent economic and social performance of developing countries, to
provide an understanding of the main factors contributing to development and underdevelopment; and to introduce
students to the contribution of economics and different schools of thought with economics to the study of
development. A particular goal of the course is to create an awareness of the position of the developing countries in
the world economy, and to ask how policies and structures in the developed countries (the North) impact on the
developing countries (the South).
EC3050 Investment Analysis
Special requirements: Previous finance course
Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 test; 1 essay; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The purpose of this course is to introduce students to financial markets and to an
awareness of the theoretical underpinnings of portfolio selection. The initial approach explores how markets
operate and how securities are bought or sold. The nature of risk and return is discussed and methods of reducing
risk for a required return are presented. Individual sections deal with interest bearing securities, equities and
derivative markets. The major forms of analysis used by the financial community to value these instruments are
examined using current information from the financial services and press. Methods of valuation are compared with
the results and expectations that would be achieved in an efficient market.

EC3060 Economics of Policy Issues

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 test; 1 essay; 1 x 3 hour exam
Weighting: 10 ECTS
Description: This course provides an analysis of public finance and public policy, with a special focus
on the responsibilities and limitations of government and social justice. The first module focuses on the analysis of
property rights, the rule of law, and the role of government in financing public goods. The second module draws on
aspects of votong and electoral participation, political behaviour, rent seeking behaviour, and electoral cycles.

EC3071 Industrial Economics: Competition, Strategy and Policy

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: Class work; 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The course introduces and provides an overview of the content of modern industrial
economics, covering theory, empirical research and competition policy analysis. The analysis, when linked to welfare
economics, provides the basis for competition policy and market regulation. A good foundation in microeconomics is
required.

EC3080 Mathematical Economics

Special requirements: Knowledge of quantitative methods
Duration: Academic year
Contact hours p/w: 2 lectures; weekly classes
Assessment: 2 term tests; 1 x 3 hour exam
Weighting: 10 ECTS
Description: The main objective of this course is to present economic theory with mathematical rigour.
The great advantage of a mathematical exposition of theory, as opposed to a literary one, is that the logical
structure of the theory is revealed so much more clearly, and that the implications of any given assumption may be
clearly seen. One section of the course will be concerned with pure mathematics, mainly linear algebra.

EC3090 Econometrics
Special requirements: Knowledge of quantitative methods
Duration: Academic year
Contact hours p/w: 2 lectures; weekly classes
Assessment: 1 project; 1 term test; 1 x 3 hour exam
Weighting: 10 ECTS
Description: This is a course for economists - for those who should understand and may want to use
modern econometric techniques. Therefore, it is not designed to make excessive mathematical demands of the
student. An essential part of the course is a project done during Christmas and Easter vacations. This project
involves the collection of data and the use of regression packages on the computer.
EC4010 Economic Theory
Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 project; 1 essay; 1 x 3 hour exam
Weighting: 15 ECTS
Description: This course covers recent research in core areas of microeconomic and macroeconomic
theory. The first part of the course introduces modern analytic tools. The remainder of the course deals with recent
advances in the areas of microeconomic theory and macroeconomic theory. The emphasis will be on simple
exposition of the basic models with applications to policy areas.

EC4020 The World Economy

Duration: Academic year
Contact hours p/w: 2 lectures
Assessment: 1 project; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The course looks at the links between trade and the Industrial Revolution; at the first
globalization boom of the late 19 th century, and the political backlash which this provoked; at the de-globalization of
the interwar period; and at post-1945 liberalization. The links between international institutions such as the GATT,
EPU and EEC, and the European growth miracle of the 1950-73 will be explored. The course also examines a range
of current policy issues. This section of the course will be continually revised, reflecting developments in the rapidly
changing world economy of today. Topics to be covered may include the East Asian growth miracle and the East
Asian financial crisis; debates about the future role of the IMF; and the links between globalization and inequality in
rich and poor nations.

EC4041 Development Economics

Duration: Academic year
Contact hours p/w: 2 lectures; weekly classes
Assessment: 2 essays; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The course builds on the third-year course in Economics of Less Developed Countries. One
module will analyze, theoretically and empirically, the functioning of informal markets in developing countries. The
other will examine how hunger and malnutrition is measured, and explore the role of agriculture in development. It
discusses the challenges of meeting global food demand while simultaneously conserving natural resources.

EC4051 Economics of Financial Markets

Special requirements: Previous finance course
Duration: Academic year
Contact hours p/w: 2 lectures; weekly class
Assessment: 1 essay; 1 project; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The course begins by analysing the relationship between the financial markets and the
allocation of resources in the real economy. It then focuses on the questions of how risk is priced, how it may be
diversified, and how it may be transferred. Next, the focus is broadened to include elements of international
finance. Some informational problems are addressed. The second module of the course is designed to apply the
study of investment analysis and portfolio theory through the construction of a sample portfolio by members of the
class.

EC4060 Transport Economics

Duration: Academic year
Contact hours p/w: 2 lectures; occasional classes
Assessment: 2 essays; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The areas to be covered in the course include road, rail, air and sea transport. Within
these areas the following topics will be studied: regulation, deregulation, contestability and public policy; the social
and private costs of transport; modal choice in public transport, the costs of bus and rail travel, the rail problem,
road track cost and economies of scale in bus operation; the cost of road freight and the social impact of heavy
vehicles; the economics of airline and airport operation; port and shipping costs etc.
EC4080 Economics of Human Resources (Not running in 2009-10)
Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 project; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The Economics of Human Resources is a course in which a comprehensive range of
employment-related topics is analysed. Under the heading ‘labour supply’, questions are asked about why some
people work while others do not. Under ‘labour demand’, the firm’s determination of its employment level is
explored at a point in time and over time. Other topics include investment in human capital, pay discrimination, the
distribution of earnings and migration. While most of the course is microeconomic in orientation, the
macroeconomic topic of unemployment will also be looked at. For all topics, the modern theories will be presented,
along with discussions of empirical tests and applications to Ireland.

EC4090 Quantitative Methods

Special requirements: Mathematical economics and econometrics
Duration: Academic year
Contact hours p/w: 2 lectures; weekly classes
Assessment: 2 projects; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The purpose of this course is to cover more advanced material on econometrics and
mathematical economics. The course is divided into two sections: the first will deal with selected topics from the
theoretical areas of regression, maximum likelihood, model testing and selection, dynamic and simultaneous
equation models, time-series analysis and co-integration, as well as some topics from the area of applied
econometrics. The second section will begin with general equilibrium, building on the material of the Junior
Sophister course, and go on to focus on dynamic problems; the principal new mathematical techniques will comprise
integral calculus, and differential and difference equations.

EC4100 International Economics

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 2 essays; 1 x 3 hour exam
Weighting: 15 ECTS
Description: The course provides students with an understanding of theories of international trade and
the balance of payments. Attempts at empirical verification of these theories will be discussed. Among the policy
issues covered in this course are the economics of protection, the evolving pattern of comparative advantage,
methods of rectifying a balance of payments deficit, exchange rate policy, international economic cooperation.

EC4110 Monetary Thought and Policy (Not running in 2009-10)

Duration: Academic year
Contact hours p/w: 2 lectures; fortnightly classes
Assessment: 1 project; 1 term test; 1 x 3 hour exam
Weighting: 15 ECTS
Description: This course analyses the evolution of monetary theory from seventeenth century
mercantilism to new classical macroeconomics. A sub-heading for the course is money, entrepreneurs and the
macroeconomy. In tracing the Evolution of monetary theory and policy from mercantilism to new classical
macroeconomics the student will be asked to analyse some leading historical events and the major achievements in
this area.

EC4120 Economic and Legal Aspects of Competition Policy

Duration: Academic year
Contact hours p/w: 2 lectures; regular classes
Assessment: 1 project; 1 x 3 hour exam
Weighting: 15 ECTS
Description: This course is run jointly by the Economics Department and the Law School. The subject
matter concerns the interpretation and implications of competition law (Ireland, European Union and United States)
together with an economic analysis of competition policy and regulation.