Introduction to Economics I
Code: 106186 ECTS Credits: 6| Degree | Type | Year | Semester |
|---|---|---|---|
| 2504216 Contemporary History, Politics and Economics | FB | 1 | 1 |
Contact
- Name:
- Francesc Trillas Jané
- Email:
- Francesc.Trillas@uab.cat
Use of Languages
- Principal working language:
- english (eng)
- Some groups entirely in English:
- Yes
- Some groups entirely in Catalan:
- No
- Some groups entirely in Spanish:
- No
Prerequisites
-
Most of the subjects are taught in English. A B2 level of English of the Common European Framework of Reference for Languages is required, although no specific test of English proficiency level is held to access the degree.
No prior knowledge of Economics is assumed.It should be noted, however, that Economics intensely uses numerical, graphical, and algebraic languages, in addition to verbal language, to identify and represent quantitative relationships and dependence and causality between variables.
Objectives and Contextualisation
The objective of the course is to provide the basic tools developed so far by economics, especially microeconomics, and that allow us to analyze and understand much of the current social reality, as well as issues of persistent economic organization in all human society.
Some of the questions that arise are: Since when, and why, are there markets and money, and what is their function? Why and when do companies grow or, on the contrary, close? Where do corporate profits come from? What is productivity, and why is it important? What are emissions rights markets and how can they help the planet's sustainability? What issues does Climate Change raise? How can the degree of inequality within a country be measured? What are the causes of inequality and poverty in a society? What are the implications of gender inequalities? Which public interventions improve collective well-being, and which do not? Which interventions decrease inequality and which do not?
Despite the complexity of the questions posed, the aim is that students, at the end of the course, have learned to use the basic tools we currently have to begin to address these issues taking into account history rigorously, and know how to look for information about the facts, how to analyze them and how to distinguish between analysis, assessment and opinion. This effort must allow the well-founded participation of students as part of the citizenry in debates on public policies both locally and globally, as well as facilitate the monitoring of economic matters throughout the degree.
Competences
- Assess the social, economic and environmental impact when acting in this field of knowledge.
- Explain and summarise knowledge acquired in English language at an advanced level.
- Manage and apply data to solve problems.
- Recognise the basic foundations of economic analysis from both a microeconomic and macroeconomic perspective.
- Students must be capable of applying their knowledge to their work or vocation in a professional way and they should have building arguments and problem resolution skills within their area of study.
- Students must be capable of collecting and interpreting relevant data (usually within their area of study) in order to make statements that reflect social, scientific or ethical relevant issues.
- Students must have and understand knowledge of an area of study built on the basis of general secondary education, and while it relies on some advanced textbooks it also includes some aspects coming from the forefront of its field of study.
- Work cooperatively in multidisciplinary and multicultural teams implementing new projects.
Learning Outcomes
- Analyse the strategic interactions between participants and the effects of their actions on third-party decisions.
- Apply descriptive and causal quantitative techniques which allow analysis of the economic and social situation.
- Apply game theory to the analysis of economic decisions.
- Demonstrate motivation regarding the quality of the work performed and sensitivity regarding the consequences on the society.
- Describe the determinants of economic growth and the international differences in income per capita.
- Differentiate between different market structures and analyze their effects on sales and corporate profits and consumer welfare.
- Examine the effect of economic policies on macroeconomic variables.
- Identify the characteristics of the process of economic development and their causes and consequences.
- Identify the constituting elements of technology and costs.
- Identify the economic aspects that determine demand and supply.
- Identify the price determiners and exchange quantities in all kinds of markets.
- Innovate in the methods and processes of this area of knowledge in response to the needs and wishes of society.
- Recognise the causes of economic crises and their impact on different sectors of activity and national economies.
- Recognise the conditions under which public intervention in the economy is necessary.
- Students must be capable of applying their knowledge to their work or vocation in a professional way and they should have building arguments and problem resolution skills within their area of study.
- Students must be capable of collecting and interpreting relevant data (usually within their area of study) in order to make statements that reflect social, scientific or ethical relevant issues.
- Students must have and understand knowledge of an area of study built on the basis of general secondary education, and while it relies on some advanced textbooks it also includes some aspects coming from the forefront of its field of study.
- Work as part of a team and be able to argue own proposals and validate or refuse the arguments of others in a reasonable manner.
Content
Methodology
15 minutes of class will be reserved for students to complete the end of term survey.
The teaching methodology and the evaluation proposed in the guide may undergo some modification subject to the onsite teaching restrictions imposed by health authorities.
Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Master Classe | 45 | 1.8 | 1, 3, 2, 6, 10, 11, 9, 17, 15, 16, 14 |
| Practice classes | 8 | 0.32 | 6, 11, 9, 15, 16, 14 |
| Type: Supervised | |||
| Tutorials | 12 | 0.48 | 17, 15, 16 |
| Type: Autonomous | |||
| Problem sets | 30 | 1.2 | 1, 3, 2, 11, 4, 17, 15, 16, 18 |
| Reading and studying of textbook and class material | 35 | 1.4 | 1, 3, 2, 6, 10, 11, 9, 4, 17, 15, 16, 14 |
| Web information search | 10 | 0.4 | 17, 15 |
Assessment
There will be 3 assessment activities designed to complement the necessary regular class attendance.
Activity 1: problem solving or written questions / discussion about texts by the student in the classroom. It will weigh 25%.
Activity 2: choose from the following options: group videos; group work; individual resolution of exercises commissioned by the teacher-a; individual commentary on a book agreed with the teacher-a. For each modality, the teacher-a will publish in advance a rubric where the criteria of evaluation will be explained. Each of these activities will weigh 25%.
Activity 3: individual tests or exams of comprehension and ability to apply the set of concepts and topics covered. It will weigh 50%. In order to average the rest of the activities, it will be necessary to obtain a minimum grade of 3.5 in these tests.
The teacher-a will be able to condition the evaluation of the activities to the assistance and participation in class. In the event that the average indicated gives rise to a FAILED grade, it will be possible to carry out a compensatory evaluation session (provided that the average is not less than 3). Those students who take the compensatory test will be able to obtain a maximum grade of 5.
Approximate schedule of evaluations
Activity 1: Last week October or First week November (date set by the teacher).
Activity 2: Complementary activity - to be carried out from September and delivered in the first-second week of December (date set by the teacher).
Activity 3: Written test (date, time and classroom set at the beginning of the course) in January.
Students will obtain a “Not assessed/Not submitted” course grade unless they have submitted more than 1/· of the assessment items.
On carrying out each evaluation activity, lecturers will inform students (on Moodle) of the procedures to be followed for reviewing all grades awarded, and the date on which such a review will take place.
In the event of a student committing any irregularity that may lead to a significant variation in the grade awarded to an assessment activity, the student will be given a zero for this activity, regardless of any disciplinary process that may take place. In the event of several irregularities in assessment activities of the same subject, the student will be given a zero as the final grade for this subject.
In the event that tests or exams cannot be taken onsite, they will be adapted to anonline format made available through theUAB’s virtual tools (original weighting willbe maintained). Homework, activities and class participation will be carried outthrough forums, wikis and/or discussion on Teams, etc. Lecturers will ensure thatstudentsareabletoaccessthesevirtualtools,orwillofferthemfeasiblealternatives.
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| Essay | 25% | 6 | 0.24 | 5, 7, 12, 17, 15, 16, 13, 18 |
| Exam | 50% | 2 | 0.08 | 1, 3, 2, 6, 10, 11, 9, 4, 17, 15, 16, 14 |
| Problem sets | 25% | 2 | 0.08 | 3, 6, 10, 11, 9, 8, 4, 17, 15, 16 |
Bibliography
Main Material: Project CORE (https://www.core-econ.org/), e-book The Economy: https://www.core-econ.org/the-economy (it can be accessed or downloaded freely)
Other recommended books:
Mankiw, G.N., Principles of Economics, 6th ed., 2012.
Samuelson, P., Nordhaus, W., Economics. Ed. McGraw-Hill, 19th ed., 2010
Mochón, F., Economía. Teoría y Política. Ed. McGraw-Hill, 6ª ed., 2009.
Robinson, J., Eatwell, J., Introduction to Modern Economics, 2nd ed., 1982.
Ostrom, E., El Gobierno de los bienes comunes : la evolución de las instituciones de acción colectiva, Fondo de Cultura Económica, 2ª ed., 2011.
PERDICES DE BLAS, L.; GALLEGO ABAROA, E., Mujeres economistas. Editorial del Economista. Madrid, 2007.
Software
The software R, freely available, will be introduced and used.