Faculty of Economics and Business
BACHELOR IN ECONOMICS SECOND YEAR Course
Methods for Applied Economics
Code
802356
Module
Spanish, international and sectoral economics
Area
Spanish and sectoral economics
Nature
Compulsory
Credits
Attendance
3.6
6
Non Attendance
2.4
Year
2
Semester
4
COORDINATION DEPARTMENT Economía Aplicada II
COORDINATOR AND CONTACT José Carlos Fariñas;
[email protected]
SYNOPSIS BRIEF DESCRIPTION This subject introduces the techniques and tools related to the System of National Accounts (SNA), which allows students to analyse the economic activity from an aggregate, institutional and sectoral perspective.
PRE-REQUISITES "Non applicable".
OBJECTIVES The aim of this subject is to develop an understanding of the tools related to the European system of national and regional accounts (ESA). It includes aggregate, institutional and financial accounts, as well as the input-output framework. It also covers other related areas, such as the labour market, the economic activity related to foreign markets and the environmental satellite accounts. The Spanish and European economies are the main points of reference in which these techniques and tools are applied.
Faculty of Economics and Business
COMPETENCES General: CG1, CG2 y CG4. Transversal: CT1, CT2 y CT3. Specific: CE1, CE4, CE5 y CE7.
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) Economic growth: Basic techniques of analysis The economic activity and the System of National Accounts The productive structure: industrial relationships International economics: the external equilibrium The financial structure of the economy The labour market Income distribution Environmental sustainability: concept and indicators
TEACHING ACTIVITIES DISTRIBUTION Theory lessons
% of Total Credits
30%
Practical lessons
% of Total Credits
10%
Other Activities
% of Total Credits
60%
ASSESSMENT Exams
% Share of Final Grade
50%
% Share of Final Grade
20%
Final exam
Other Activities
Active participation in the classroom or in seminars and Presentation of individual or group projects
Other activities
& Share of Final Grade
30%
Exercises
EVALUATION CRITERIA In the “convocatoria ordinaria” it will be considered that the student has taken the course (and graded accordingly) if he/she participates in the course up to a date that the professor will
Faculty of Economics and Business establish. In the “convocatoria extraordinaria” it will be considered that the student has taken the course (and graded accordingly) if he/she takes the final exam.
Faculty of Economics and Business
TIMETABLE Week
Lecture
Work in class /in the Seminar
Work at home
LECTURE 1: Economic growth: Basic Tools for its analysis 1st and 2nd
3rd and 4th
1. The measurement of welfare and economic development 2. The Spanish economy and the Human Development Index 3. Stages in the long-run growth of the Spanish economy 4. Short-run fluctuations in the Spanish economy 5. Foundations of the long-run growth in the Spanish economy 6. Appendix: Basic analytical tools 1st Task LECTURE 2: Economic activity and the National Accounts System 1. The European System of Accounts and the Spanish National Accounts 2. GDP: demand, supply and income 3. The structure of the European System Accounts 4. Sequence of accounts 5. Valuation criteria 6. Time comparisons 7. Volume and price chain indexes in the National Accounts
Work in class: • Introducing the subject • Main statistical sources • Explanation of the 1st Task
•
Continuing 1st Task.
•
Finishing and handing in the 1ªst Task.
Work in the seminar (1 per month): • Downloading and work with the data for the the 1st Task
Work in the seminar: • Downloading and work with the data for the the 1st Task Work in class: • Explanation of the contents of the lecture. • Use of statistical sources.
Faculty of Economics and Business
th
5 , 6th (and 7th in April)
8th and 9th
LECTURE 3: The industrial structure : Input-Output analysis 1. The industrial structure and the National Accounts 2. The Input-Output Tables 3. The demand model 4. Understanding the inverse of the Leontief matrix: backward and forward linkages 5. An example: labor requirements for the export activity in Spain 2nd Task Midterm EXAM LECTURE 4: Foreign economic relationships and external equilibrium 1. The Rest of the World Accounts in the System of National Accounts 2. The balance of payments 3. Foreign equilibrium and how to correct deficits 4. The foreign exchange rate and the purchasing power parity 5. Foreign competitiveness: price measures and structural indicators 6. Firms and foreign markets LECTURE 5: The financial system
10th
Work in class: • •
Introduction to the Input-Output methodology. Use of statistical sources.
• •
Continuing 2nd Task. Finishing and handing in the 2nd Task.
•
Study
•
Study.
Work in the seminar: • Downloading and work with the data for the 2nd Task. • Explanation of the 2nd Task. Work in class: • •
Explanation of the contents of the lecture. Use of statistical sources.
Work in class: 1. Finance in the economy: markets, intermediaries and financial instruments 2. Financial accounts of the Spanish economy 3. The restructuration of the Spanish financial system 4. The financial crisis and the regulatory changes
• •
Explanation of the contents of the lecture. Use of statistical sources.
Work in the seminar: • Downloading and work with the data for the 2nd Task. • Explanation of the 2nd Task.
Faculty of Economics and Business LECTURE 6: The labour market 11th and12th
Work in class: 1. The population 2. Classification of the population according to their economic activity: La Encuesta de población activa (EPA) 3. Growth and employment 4. Wages, productivity and labour costs 5. Reflecting on the Spanish pension system
• • •
Explanation of the contents of the lecture. Use of statistical sources. Explanation of the 3rd Task
• •
Continuing 3rd Task. Finishing and handing in the 3rd Task.
•
Study.
•
Study.
3rd Task LECTURE 7: Income Distribution 13th
14th
Work in the seminar: 1. Introduction 2. Income distribution between factors of production 3. Distribution of income between persons 4. Differences in income distribution across regions LECTURE 8: Environmental sustainability: Concepts and indicators 1. Definition of sustainability. 2. Indicators of sustainable development. 3. Environment statistics in the National Accounts.
•
Use of statistical sources.
•
Explanation of the contents of the lecture.
Work in the seminar: •
Use of statistical sources.
NOTE: This is an approximation to the distribution of the lectures on a monthly basis since bank holidays and the Easter Week may make vary their exact allocation.
Faculty of Economics and Business
RESOURCES BASIC BIBLIOGRAPHY Giovannini, E. (2009) Understanding economic statistics: An OECD perspective, OECD publishing. Available in: http://www.oecd.org/dataoecd/33/39/41746710.pdf European Commission (1996): European system of national and regional accounts. Available in: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CONSLEG:1996R2223:20071230:EN:PDF Griffiths, A. and Wall, S. (2011) “Applied Economics”, 12/E, Pearson education.
COMPLEMENTARY BIBLIOGRAPHY
OTHER RESOURCES
