
Introduction to Economics
Code: 102277Credits: 6
| Degree programme | Type | Course |
|---|---|---|
| Law | FB | 1 |
Contact lecturer
- Name :
- Javier Asensio Ruiz De Alda
- Email :
- javier.asensio@uab.cat
Teaching staff
- Alessio Ferdinando Federico Romarri
- Víctor Fernández Modrego
- Esther Mañe Borras
- Angel Hermosilla Pérez
- Pau Costa Capdevila
Teaching staff (external to UAB)
- per determinar
- per determinar
Group languages
You can consult this information at the end of the document.
Prerequisites
None.
Teaching of the subject will be taught taking into account the perspective of the Objectives of Sustainable Development
Objectives
This is a first-year, first semester subject. The course content may be considered as basic and fundamental. It will provide the main tools of economic analysis needed to understand and analyze the socio-economic performance of a society. Within this framework, this course aims at enabling students to use the basic concepts and analytical graphs developed by current economic analysis to understand the main facts that characterize an economy.
The training objectives of the subject can be summarized as follows:
1. Acquiring the basic conceptual knowledge of microeconomics and macroeconomics
2. Knowledge of the fundamental economic institutions
3. Ability to produce a reasoned, autonomous and critical analysis of current economic facts
4. Demonstrate the acquisition of knowledge through written and oral expression, both individually and in groups
The content of the course will explicitly consider issues related to gender.
Learning outcomes
- Efficiently managing information, being capable of assimilating a considerable volume of data in a limited amount of time.
- Managing bibliographic and documentary resources: databases, browsing, etc.
- Use different information and communication technologies.
- Identifying and solving problems.
- Students must be capable of learning autonomously and having an entrepreneurial spirit.
- Working in multidisciplinary and interdisciplinary fields.
- Students must be capable of perceiving the impact and implications of the decisions taken.
- Knowing the nature of the conflicts underlying in a market economy.
- Knowing the ways of assessing conflicts that might inform the legal standards.
- Possessing basic economic knowledge.
- Relating the role of regulations in the functioning of the economic activity.
Contents
Topic 1. Introduction. Basic principles of economics. Use of graphs and economic models. Microeconomics and macroeconomics. GDP and national accounting. The circular flow model of income. Economic growth and productivity.
Topic 2. The market. Supply and demand. Elasticities. Welfare. Consumer and producer surplus. Efficiency and market failures.
Topic 3. Production and costs. The production function. The cost function. Fixed, variable, average, and marginal costs.
Topic 4. Market equilibrium in perfect competition and monopoly. Introduction to competition policy.
Topic 5. The role of the public sector. Market regulation: prices and quantities. Public goods and externalities.
Topic 6. Public finance. The role of taxes and public sector financing. The public budget. Public deficit and debt.
Topic 7. The labor market. Supply and demand for labor. Wages and labor costs. Collective bargaining. The labor market model with unemployment. Labor policies: unemployment benefits and minimum wage.
Topic 8. Introduction to business economics. The role of the firm. Business accounting: the balance sheet and income statement. Firm size and productivity.
Learning activities and methodology
| Title | Hours | ECTS | Learning outcomes |
|---|---|---|---|
| Individual study, solving problems, preparation of essays and other recommended activities | 104 | 4.16 | 1, 2, 3, 4, 7, 8, 9, 10, 11 |
| Tutorials | 2 | 0.08 | 1, 10 |
| Seminar sessions, problem solving and case studies | 22 | 0.88 | 2, 4, 5, 6, 7, 8, 9, 10, 11 |
| Lectures | 22 | 0.88 | 6, 8, 9, 10, 11 |
| Assessment | 0 | 0 | 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 |
Important Note: Teaching and assessment methods may be subject to change in case health authorities impose restrictions to the access to the Campus.
The course will consist of the following activities:
Lectures: The lecturer introduces and explains the basic concepts and graphs corresponding to each topic. Student attendance is essential.
Seminar sessions: these in-class sessions, of compulsory attendance, will be dedicated to concept development, problem solving, case studies and/or debates about current issues. They include class presentations by students.
Evaluation activities: There will be four activities (minimum) for that purpose. At least two of them will consist of written tests (a mid-term and a final exam).
Complementary activities: Lecturers may recommend attendance to conferences or other seminars.
On the use of Artificial Intelligence resources: For this course, the use of Artificial Intelligence (AI) technologies is allowed in out-of-class assessed activities exclusively for support tasks, such as bibliographic or information searches, text correction, or translations. The use of AI for data collection, processing, and analysis is explicitly excluded. When instructors design activities involving the use of AI, specific instructions will be provided regarding its use in that particular activity.
Assessment
Continuous assessment activities
| Title | Weight | Hours | ECTS | Learning outcomes |
|---|---|---|---|---|
| End of term test | 35% | 0 | 0 | 1, 2, 3, 4, 5, 6, 7, 8, 10, 11 |
| Midterm test | 35% | 0 | 0 | 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 |
| Problem solving and cases | 30% | 0 | 0 | 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 |
Assessment will be on a continuous basis along the semester. It will consist of the following activities:
1. A midterm written test (35%)
2. An end of semestr written test (35%)
3. Problems, cases, practical exercises: 30%
Professors will provide the dates of each evaluation activities at the beginning of the semester.
To pass, a weighted average grade of 5 over 10 or higher is required, AND at least a grade of 3.5 in each written test.
Re-assessment: If the weighted mean of all assessment activities is equal or greater than 3.5 points but less than 5, the student may take an exam at the date determined by the Facultat.
Those not presented: Students who begin the continuous evaluation process will have a final grade of passing or failing the subject, in no case not being presented. The exception is if only one of the evaluable activities has been presented. In this case, the grade will be 'not evaluable'. Special cases: In cases where the students cannot attend the written tests, and duly justified, the teaching staff responsible for the group will establish the re-take mechanisms.
Misconduct: A student who cheats or tries to cheat an exam will have a 0 as a mark. A Student who submits a paper or practice in which there is evidence of plagiarism will have a 0 as a mark and will receive a warning. In case of repetition, the students will fail the subject.
Single assessment (for those students whose application has been accepted)
Theoretical exam (40%), Exercises (35%), and written review with possible oral exam of a book to be agreed with the instructor (25%).
The same re-assessment system will be applied as for the continuous assessment.
Bibliography
CORE Project: \"La Economía\", free open e-book in Spanish. Link: https://www.core-econ.org/project/la-economia/
-Krugman, Paul & Robin Wells (2022): Fundamentos de Economia, Editorial Reverté. 4th Edition (5th original)
free electronic version (access UAB): https://elibro.net/es/lc/uab/titulos/105547
-Acemoglu, Daron; David Laibson & John A. List (2017), \"Economía\", Antoni Bosch ed..
-Mankiw, Gregory N. (2012): Principios de economia, 6th ed., Ediciones Paraninfo, or later editions.
-Mochón, Francisco (2009): Economía. Teoría y Política. Ed. McGraw-Hill.
also available through UAB library: https://elibro.net/es/ereader/uab/50180
Other resources:
1) Economic Nobel Prizes (women scientists): 2009: Elinor Omstrom: https://es.wikipedia.org/wiki/Elinor_Ostrom; 2019: Esther Duflo: https://en.wikipedia.org/wiki/Esther_Duflo
Other women Nobel Prizes: https://en.wikipedia.org/wiki/List_of_female_Nobel_laureates
2) Data sources: INE www.ine.es; OCDE: www.oecd.org
Software
None is required
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 | Spanish | second semester | morning-mixed |
| (TE) Theory | 2 | Catalan | second semester | morning-mixed |
| (SEM30) Seminaris (30 estudiants per grup) | 11 | Catalan | second semester | morning-mixed |
| (SEM30) Seminaris (30 estudiants per grup) | 12 | Catalan | second semester | morning-mixed |
| (SEM30) Seminaris (30 estudiants per grup) | 13 | Spanish | second semester | morning-mixed |
| (SEM30) Seminaris (30 estudiants per grup) | 21 | Catalan | second semester | morning-mixed |
| (SEM30) Seminaris (30 estudiants per grup) | 22 | Catalan | second semester | morning-mixed |
| (SEM30) Seminaris (30 estudiants per grup) | 23 | Spanish | second semester | morning-mixed |
| (TE) Theory | 51 | Spanish | second semester | afternoon |
| (SEM30) Seminaris (30 estudiants per grup) | 511 | Catalan | second semester | afternoon |
| (SEM30) Seminaris (30 estudiants per grup) | 512 | Catalan | second semester | afternoon |
| (SEM30) Seminaris (30 estudiants per grup) | 513 | Spanish | second semester | afternoon |