School of Economics and Business
BACHELOR´S DEGREE IN BUSINESS ADMINISTRATION Course
Introduction to Economics
Code
802261
Module
Basic Education
Area
Economics
Character
Basic
Attendance
2,7
Non Attendance
3,3
Semester
1
Credits
6
Year
First
DEPARTMENT OF PRINCIPLES OF ECONOMIC ANALYSIS II Coordinators: Gisela Di Meglio and Iñigo Herguera
Department
Professor
e-mail
Alfredo García Hiernaux
[email protected]
SYNOPSIS BRIEF DESCRIPTION Economic analysis. Micro and macroeconomics
PRE-REQUISITES Background in Mathematics
OBJETIVES To communicate quite complex ideas and theories in a clear manner, undertake numerical calculations, and interpret data presented in a variety of forms.
School of Economics and Business
To analyze and evaluate economic problems and solutions, interpret and use figures and tables, and employ oral and written skills.
COMPETENCES General: CG1, CG2 Cross-sectional: CT1, CT2 Specific: CE3, CE4, CE6 y CE8
LEARNING METHODOLOGY A mixed methodology of teaching and learning will be used in all educational activities with the aim of encouraging students to develop a collaborative and cooperative attitude in the pursuit of knowledge.
TOPICS COVERED (Syllabus) 1. INTRODUCTION: TOPIC 0. Mathematical and graphical review. Functions, linear and non-linear functions, graphical representation of functions, slope of a function, continuous and discontinuous functions, maxima and minima of a function, concavity and convexity, functions of two variables, useful derivatives. 2. MICROECONOMICS: TOPIC 1. Basic fundamentals and economic models. The aim of economics, individual choice: scarcity and resources, opportunity cost. Possibilities, production possibility frontier (PPF), gains from trade. Technology: Pareto efficiency. TOPIC 2. Demand and supply. Competitive markets. The demand curve, shifts of and movements along the demand curve. The supply curve and business profits. Shifts of and movements along the supply curve. TOPIC 3. Equilibrium in a competitive market. Market equilibrium, changes in demand and supply and its consequences. Consumer surplus and demand curve, producer surplus and supply curve. TOPIC 4. Behind the curve demand: the consumer’s choice. The budget constraint and the preferences, the maximization problem, derivation of the demand curve, price elasticity of the demand. TOPIC 5. cost.
Externalities and public goods. Private cost and social
School of Economics and Business
3. MACROECONOMICS: TOPIC 7. Gross Domestic Product and national accounts. Production, added value and expenditure approaches. TOPIC 8.
Inflation. Concept, effects, measurements and deflation.
TOPIC 9.
Labor market. Labor market indicators, measurements.
TOPIC 10. Economic growth. Sources of the long-term economic growth, physical and human capital, technological improvements, cycles and fluctuations, Okun’s law.
% OF TOTAL CREDITS
ATTENDANCE
Lectures
20%
100%
Classes
20%
75%
Tutorials
6%
100%
Assessment activities
4%
100%
Homeworks and class assignments
20%
0%
Time to study
30%
0%
TEACHING ACTIVITIES
ASSESSMENT Exams
% Share of Final Grade
60 %
% Share of Final Grade
40%
Final Exam 60% Other Activities 3 Tests 40% EVALUATION CRITERIA In the ordinary call, the student may qualify for the score ‘Not Presented’ if he/she stops attending classes or performing practical activities of the subject during the first month and a half of teaching. After this period, it is understood that for all purposes the student will be examined by the system of continuous assessment. In the extraordinary call, if the student does not sit for the exam, the rating will be NP (not evaluated), regardless whether he/she followed the continuous assessment. In the case the student sits for the exam, the grade will be the result of applying the evaluation criteria set in the course tab.
School of Economics and Business
Continuous assessment in the extraordinary examination: in case one student has failed the ordinary examination, having attended the final exam and participated in the continuous assessment, the mark to be considered as continuous assessment for that extraordinary examination will be the final mark obtained in the ordinary examination.
School of Economics and Business
TIMETABLE WEEK
CONTENT
CLASSWORK
HOMEWORK
1
TOPIC 0 TOPIC 1
•
2
I. MICROECONOMÍCS
• • • • •
Study slides Topic 0 Study slides Topic 1 Practice Sheet 1 Study slides Topic 2 Practice Sheet 2
• • • • • •
Study slides Topic 3 Practice Sheet 3 Study slides Topic 3 Practice Sheet 3 Study slides Topic 4 Practice Sheet 4
Presentation
TOPIC 2 3
TOPIC 3
4
TOPIC 3
5
TOPIC 4
6
TOPIC 5
• •
Study slides Topic 5 Practice Sheet 5
7
TOPIC 5
• •
Study slides Topic 5 Practice Sheet 5
8
TOPIC 6
• •
Study slides Topic 6 Practice Sheet 6
•
•
Test 1
Test 2
School of Economics and Business
9
II. MACROECONOMICS
10
TOPIC 7 TOPIC 7
11
TOPIC 8
12
TOPIC 8
13
TOPIC 9
14
TOPIC 10
15
TOPIC 10
•
Test 3
•
Test 4
• • • • • • • • • • • •
Study slides Topic 7 Practice Sheet 7 Study slides Topic 7 Practice Sheet 7 Study slides Topic 8 Practice Sheet 8 Study slides Topic 8 Practice Sheet 8 Study slides Topic 9 Practice Sheet 9 Study slides Topic 10 Practice Sheet 10
• •
Study slides Topic 11 Practice Sheet 11
School of Economics and Business
RESOURCES BOOK LIST Krugman, Paul, Wells, Robin y Olney, Martha L. Essential of Economics, 3rd, Worth Publishers. Mankiw, N. Gregory, Principles of Economics, Thomson South-Western. COMPLEMENTARY BIBLIOGRAPHY Study slides The CORE project OTHER RESOURCES Teachers’ webpages
