
Introduction to Economics
Code: 101577Credits: 6
| Degree programme | Type | Course |
|---|---|---|
| East Asian Studies | FB | 1 |
Contact lecturer
- Name :
- Oriol Roca Sagales
- Email :
- oriol.roca@uab.cat
Group languages
You can consult this information at the end of the document.
Prerequisites
The student does not need any previous knowledge on Economics. It is required a minimal level of English in order to read texts in this language and a minimal knowledge of Arithmetics and Graphical Analysis at the level of Secondary School.
Objectives
It is a first-semester and first-course subject, therefore it is a basic formation subject. This subject will provide the student with the basic tools of economic analysis that will let him or her to analyse and understand the historical and social facts of East Asia. These tools have also to let the student to follow properly the contents of the second-course subject Applied Economics of East Asia.
The educational goals of the subject can be summarised in the following points:
1. To acquire the basics of both micro and macroeconomics.
2. To get to know the basic international economic institutions.
3. To be able to do a critical analysis of the current economic situation.
4. To prove the acquisition of this knowledge through written essays and exams.
The course content will be sensitive to issues related to gender perspective and the use of inclusive language.
Learning outcomes
- KM16 (Identify the economic agents, institutions and organisations that shape economic processes in relation to East Asia.) Identify the economic agents, institutions and organisations that shape economic processes in relation to East Asia.
- SM17 (Apply the key concepts and theoretical framework of the fields of economics and business in the analysis of the region.) Apply the key concepts and theoretical framework of the fields of economics and business in the analysis of the region.
- SM18 (Evaluate the economic circumstances of East Asian countries and their insertion in the global economy, incorporating the gender perspective.) Evaluate the economic circumstances of East Asian countries and their insertion in the global economy, incorporating the gender perspective.
Contents
Part 1: Microeconomics
Topic 1. Economics and Economic Science. What economics studies. Microeconomics and macroeconomics. Positive and normative economics. The fundamental economic problems. Production and the factors of production. The globalization of the world economy.
Topic 2. The Market Economy and the Basic Theory of Supply and Demand. How the market economy functions. Demand analysis: determining factors and elasticity. Supply analysis: determining factors. Market equilibrium.
Topic 3. Perfectly Competitive Markets. Perfect competition: characteristics. Market failures in perfectly competitive markets. Do perfectly competitive markets exist today?
Topic 4. Imperfectly Competitive Markets. Monopoly. Oligopoly and strategic behavior: collusion versus price wars. Product differentiation: monopolistic competition. Price discrimination.
Topic 5. The Limits of the Market Economy. Public goods. Externalities. Efficiency versus equity: public intervention.
Topic 6. Factor Markets and Income Distribution. The remuneration of production factors. The remuneration of natural resources, capital, and labor. Income inequality.
Part 2: Macroeconomics
Topic 7. Macroeconomic Relationships and Indicators. The macroeconomic perspective. Measuring macroeconomic flows. Basic macroeconomic indicators. Adjusting economic variables for the effects of inflation. Inflation and its costs.
Topic 8. Aggregate Demand and Aggregate Supply. Macroeconomic equilibrium and disequilibrium. Unemployment and inflation. Instruments of macroeconomic policy.
Topic 9. Fiscal Policy. The public sector and the economy. Fiscal policy and aggregate demand. Public sector revenue and expenditure: the level and structure of taxation.
Topic 10. Money and Monetary Policy. Money and the financial system. Commercial banks and the creation of bank money. The central bank and the money market. Monetary policy.
Topic 11. Foreign Trade and International Development. International trade. Trade policy: tariffs and non-tariff barriers. Economic integration. International finance: foreign exchange and international payments. The challenges of international development.
Learning activities and methodology
| Title | Hours | ECTS | Learning outcomes |
|---|---|---|---|
| Supervision of the essay and tutorials | 50 | 2 | |
| Lectures | 48 | 1.92 | |
| Autonomous study of the provided materials | 48 | 1.92 |
In-class 33% | Lectures |
| Tutorials |
Supervised 33% | Essay |
Non-supervised 33% | Study of provided materials |
Assessment
Continuous assessment activities
| Title | Weight | Hours | ECTS | Learning outcomes |
|---|---|---|---|---|
| Essays | 20% | 0 | 0 | KM16, SM17, SM18 |
| Exam II | 40% | 2 | 0.08 | KM16, SM17, SM18 |
| Exam I | 40% | 2 | 0.08 | KM16, SM17, SM18 |
The assessment will be continous during the course, taking into account these items:
1. A written exam on the contents of the first part of the syllabus (date to be announced) (40%)
2. A written exam on the contents of the second part of the syllabus (date to be announced) (40%)
3. Essays done by the students under the supervision of the teacher (20%)
The exact weihght of the different items will be provided by the teachers during the course and the final mark will be an average of the marks obtained in these three items, with the corresponding weights.
Related matters
The above information on assessment, assessment activities and their weighting is merely a guide. The subject's lecturer will provide full information when teaching begins.
Review
When publishing final marks prior to recording them on students' transcripts, the lecturer will provide written notification of a date and time for reviewing assessment activities. Students must arrange reviews in agreement with the lecturer.
Missed/failed assessment activities
Students may retake assessment activities they have failed or compensate for any they have missed, provided that those they have actually performed account for a minimum of 66.6% (two thirds) of the subject's final mark and that they have a weighted average mark of at least 3.5. Under no circumstances may an assessment activity worth 100% of the final mark be retaken or compensated for. In case of retaking, maximum grade will be 5.
The lecturer will inform students of the procedure involved, in writing, when publishing final marks prior to recording them on transcripts. The lecturer may set one assignment per failed or missed assessment activity or a single assignment to cover a number of such activities.
Classification as \"not assessable\"
In the event of the assessment activities a student has performed accounting for just 25% or less of the subject's final mark, their work will be classified as \"not assessable\" on their transcript.
Misconduct in assessment activities
Students who engage in misconduct (plagiarism, copying, personation, etc.) in an assessment activity will receive a mark of “0” for the activity in question. In the case of misconduct in more than one assessment activity, the students involved will be given a final mark of “0” for the subject.
Students may not retake assessment activities in which they are found to have engaged in misconduct. Plagiarism is considered to mean presenting all or part of an author's work, whether published in print or in digital format, as one's own, i.e. without citing it. Copying is considered to mean reproducing all or a substantial part of another student's work. In cases of copying in which it is impossible to determine which of two students has copied the work of the other, both will be penalised.
More information: http://www.uab.cat/web/study-abroad/undergraduate/academic-information/evaluation/what-is-it-about-1345670077352.html
Single assessment
This subject is not suitable for single assessment.
Artificial Intelligence
In this course, the use of Artificial Intelligence (AI) technologies is permitted as an integral part of assignment development, provided that the final outcome demonstrates a significant contribution from the student in terms of analysis and personal reflection. Students must clearly identify any content generated using AI, specify the tools employed, and include a critical reflection on how these technologies have influenced both the process and the final result of the assignment. Failure to disclose the use of AI in this assessed activity will be considered a breach of academic integrity and may result in a partial or total penalty to the assignment grade, or more serious sanctions in severe cases.
Bibliography
basic bibliography:
Duflo, Esther (2019). Good Economics for Hard Times. Publicaffairs
Krugman, P., Wells, R. and Graddy, K. (2015) Fundamentos de Economía, Ed. Reverté.
Mankiw, G. (2010): Principios de Economía. Ed. Paraninfo.
Mazzucato, Mariana (2022). Mission economy. Penguin
Mochón, F. (2009): Economía. Teoría y Política. Ed. McGraw-Hill.
Samuelson, P. i Nordhaus, W. (2010): Economía. Ed. McGraw-Hill.
E-Book del Proyecto CORE: https://www.core-econ.org/
BM Banc Mundial http://www.worldbank.org
NNUU Nacions Unides http://www.un.org
OMC Organització Mundial de Comerç http://www.wto.org
UNCTAD http://www.unctad.org
CIDOB Fundació CIDOB http://www.cidob.org/
CEIC (Centro Español de Investigaciones Coreanas) http://www.uclm.es/area/fae/ceicws/home.asp
INE Instituto Nacional de Estadística http://www.ine.es/
FMI Fons Monetari Internacional http://www.imf.org
Elcano Real Instituto Elcano http://www.realinstitutoelcano
Software
It is not necessary to use specific software for course tracking.
Course groups and languages
The information provided is provisional until November 30. After this date, you will be able to consult the language of each group through this link. To access the information, you will need to enter the course CODE
| Type of teaching | Group | Language | Semester | Shift |
|---|---|---|---|---|
| (TE) Theory | 1 | Catalan | second semester | morning-mixed |