Transcript ECON 20060 The Irish Economy

ECON 20060
The Irish Economy
Or
How F@$&ked Are We?
Lecturer
• Vincent Hogan
• D205
• Office Hours: Tuesday 11–12 and by
appointment
Objective
• This course will use macro and micro
economic theory to explain Irish economic
performance over the last 30 years. We
will also analyse some current economic
issues and assess the responses of policy
makers to those issues.
• Special attention will be paid to the origins
of the current crisis
Reading Material
• Notes will be posted on Blackboard
• Main Text
– The Macroeconomy of the Eurozone: An Irish
Perspective by Leddin, Anthony J, and Walsh,
Brendan M. (Gill and Macmillan) 2003
• Some “pop economics” books are also very
useful
– The Return of Depression Economics and the Crisis of
2008 by Paul Krugman
– Irrational Exuberance - by Robert J. Shiller
– Extraordinary Popular Delusions and the Madness of
Crowds by Charles Mackay
– Available on Amazon or audible
• I will add other papers on specific topics as we
progress through the course
Websites
• There are a couple of useful blogs
– www.irisheconomy.ie (hi quality debate)
– www.ronanlyons.ie (great on property)
• The following web sites are useful for data:
– http:/www.cso.ie
– http:/www.finance.gov.ie
– http:/www.centralbank.ie
– http:/www.ecb.org
Outline
To be amended as necessary
• Topic 1. A Review of basic macro:
– The model of everything
– Solow growth model
– A review of Irish economy
• Topic 2. Fiscal, Monetary and Exchange rate
Policy and the Irish Experience
• Topic 3. The Rise of the Celtic Tiger
• Topic 4. Bubbles in Stock and House Prices
• Topic 5. Banks, Credit Crunches and NAMAology
• Topic 6. The Future Performance of the Irish
Economy
Assessment
• The main Exam in December will be worth
70%
• There will be a mid-term assessment
(MCQ) on 10th October which will count for
30%