This is a classic A-line dress, with shaped shoulders. I have used the same method as contiguous, except that the dress is knit from the bottom up.
The yarn is 2 threads of thin wool in two contrasting colors, except for the facing of the hem, where only 1 thread is used.
The top part has a simple and quick knit pattern with small cables and bobbles, and is very elastic. Even if it has cables, no cable needle is necessary.
Pattern is available on Ravelry: http://www.ravelry.com/patterns/library/17-dublin-dress.
More pictures on the project page: http://www.ravelry.com/projects/MarianneSkatten/the-dublin-dress