Faculty 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 Coordinator: Simón Sosvilla-Rivero
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.
Faculty 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. TOPIC 1. Introduction to economic analysis. Economics, economic models, Microeconomics and Macroeconomics, positive versus normative economics.
2. MICROECONOMICS: TOPIC 2. Possibilities. Resources, technology, possibilities, short and long run, production functions, comparative statics, production function movements. TOPIC 3. Competitive firm in the short-run. Marginal production function, profit function, profit maximization, comparative statics. TOPIC 4. Consumer’s preferences: Preferences over alternatives of consumption, indifference curves and maps, marginal rate of substitution. TOPIC 5. Competitive consumer: The consumer demanding goods and services, the consumer as a worker. TOPIC 6.
Markets in perfect competition. Goods and services
Faculty of Economics and Business
market, labor market.
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.
Economic growth and economic cycles.
TOPIC 10.
Labor market. Labor market indicators, measurements.
TOPIC 11. Money and prices in the long-run. Concept, functions, demand and supply of money, equilibrium in the money market. % OF TOTAL TEACHING ACTIVITIES ATTENDANCE CREDITS Lectures
20%
100%
Classes
20%
75%
Tutorials
6%
100%
Assessment activities
4%
100%
Homeworks and class assignments
20%
0%
Time to study
30%
0%
ASSESSMENT Exams
% Share of Final Grade
60 %
% Share of Final Grade
30%
Final Exam 60% Other Activities 3 Tests 30% Other activities
& Share of Final Grade 10%
Active participation in the classroom: 5% Individual oral presentations: 5% 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
Faculty of Economics and Business
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. 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.
Faculty 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
Faculty 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 11
•
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
Faculty of Economics and Business
RESOURCES BOOK LIST Krugman, Paul, Wells, Robin y Olney, Martha L. Essential of Economics, Worth Publishers. COMPLEMENTARY BIBLIOGRAPHY Mankiw, N. Gregory, Principles of Economics, Thomson South-Western. OTHER RESOURCES
