Department of Economics
Trinity College Dublin
Senior Freshman 2015/16
EC2020 ECONOMY OF IRELAND
Prof. John O’Hagan (johagan@tcd.ie, and www.tcd.ie/economics/staff/johagan/ec2020/ )
Room 3004, Arts Building)
ECTS Value = 10 or 5 for each module
Rationale and 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 the early 2010s. 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 and early 21st century. 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.
Module Content/Outline
Module I: Michaelmas Term (MT) (J. O’Hagan)
(i)
Historical Background. The evolution of the Irish economy from the 19th century to the present day.
(ii)
Policy Objectives for a Regional Economy. Economic growth equity, employment, price stability and
competitiveness.
(iii)
Policy Implementation I. Role of government: rationale, levels and size.
(iv)
Policy Implementation II. Taxation.
(v)
Policy Implementation III. Regulation and competition
Module II: Hilary Term (HT) (J. O’Hagan)
(1)
Policy Performance I. Population, migration and employment.
(ii)
Policy Performance II. Growth in output and living standards.
(iii)
Policy Performance III. Social justice and distribution
(iv)
Sectoral Analysis I. Manufacturing and traded services
(v)
Sectoral Analysis II. Agri-food or energy sector
(vi)
Sectoral Analysis III. Education or health sector: funding and issues
Indicative Reading/Resources
(i)
(ii)
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The core book for both modules is J. O’Hagan, and C. Newman (editors), The Economy of Ireland:
National and Sectoral Policy Issues (12th edition), Gill and Macmillan, Dublin, 2014. For the 12th
edition all chapters bar one have been updated and in places totally revamped; as such earlier editions
are only of use as supplementary reading.
Students are encouraged to keep abreast of on-going, current economic developments through reading
the business/economics sections of Irish newspapers and international publications such as the
Economist and the Financial Times. Relevant articles from these sources will be notified to students
via email. As the last four years have shown, there can be quite dramatic changes in a few months.
Learning Outcomes
On successful completion of this course, student should be able to:
 Review and summarise relevant reading material on various key aspects of Irish economic policy (see
Course Outline above)
 Apply what they have learned to new data and situations
 Explain the importance and relevance of the information contained in this reading
 Understand the application of some 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.
Contact Hours/Methods of Teaching and Student Learning
The main mode of teaching is the use of standard lectures, running for 50 minutes twice a week, throughout both
terms. The lectures will be used primarily to stimulate interest in the subject, provide introductions to some of
the more difficult material in the core textbook, and to supplement the book where relevant and possible. As the
numbers taking the course normally exceed 300 questions during lectures cannot be accommodated.
There are no lecture notes, just bullet points to provide a context and focus for students during lectures. The
slides for these (not more than three per lecture) will be placed on the dedicated web site for the course so that
students can if they wish print them out in advance of the lectures and use the headings to structure their notes.
Attendance at lectures is vital if you wish to get a good grade, for two reasons. First, much material covered in
lectures is not in the book or as mentioned only ‘prompts’ are provided on the slides. Second, there is no
substitute for hearing things in person, either before or after reading material, and taking individual notes that
suit your circumstances.
Weekly discussion classes will take place in Teaching Weeks 3, 4, 5, 6 and 11 of MT and Teaching Weeks 3, 4,
5, 6 and 11 of HT. The classes will focus on preparation for the tests and the exam.
The lecturer and Teaching Assistants will also be readily contactable by email to answer queries in relation to
the course and to make face-to-face appointments when required. Students will be asked to evaluate both
modules of the course and any overall suggestions for improvement will be taken on board where possible.
Methods of Assessment
The allocation of assessment marks will be as follows.
 25 per cent for test in Week 8, MT.
 25 per cent for test in Week 8, HT.
 50 per cent for summer examination (starting around early May)
For students taking only Module I, they will have to submit two essays (details to follow later) due first week
HT, the test and essay each accounting for 50 cent of the marks. For students taking only Module 2, 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 relating only to HT. Special assessment arrangements apply in the case of Social Studies
students.
At the end of the break after MT there is a special College-wide examination referred to as ‘Schol’. Students are
encouraged to sit these examinations as success (an overall First) brings substantial rewards, pecuniary and nonpecuniary.
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