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Economic Policy

Code: 102468 ECTS Credits: 6
2024/2025
Degree Type Year
2501572 Business Administration and Management OT 4
2501573 Economics OB 3
2504216 Contemporary History, Politics and Economics OT 3
2504216 Contemporary History, Politics and Economics OT 4

Contact

Name:
Emilio Padilla Rosa
Email:
emilio.padilla@uab.cat

Teachers

Jordi Perdiguero Garcia
Rosa García Hernández

Teaching groups languages

You can view this information at the end of this document.


Prerequisites

The knowledge resulting from having completed the courses Microeconomics I and Macroeconomics I.


Objectives and Contextualisation

  • To identify the agents participating in the elaboration of the different economic policies
  • To recognize the different macroeconomic disequilibria, as well as the objectives of economic policy and their measurement
  • To analyze the economic policy objectives taking into account the gender perspective
  • To know the main instruments of economic policy and understand its functioning
  • To understand the transmission mechanisms between economic policy instruments and objectives
  • To identify the possible trade-offs and complementarities between economic policy objectives
  • To favor the access to relevant information about the objectives and instruments of the economic policy
  • To interpret the economic policy making of governments through the analysis of public budgets
  • To understand the constraints and opportunities that that internationalization processes involve in economic policy

Competences

    Business Administration and Management
  • Act with ethical responsibility and respect for fundamental rights and duties, diversity and democratic values.
  • Capacity for adapting to changing environments.
  • Capacity for independent learning in the future, gaining more profound knowledge of previous areas or learning new topics.
  • Capacity for oral and written communication in Catalan, Spanish and English, which enables synthesis and oral and written presentation of the work carried out.
  • Demonstrate initiative and work individually when the situation requires it.
  • Demonstrate knowledge of the structure of institutions and the state, their evolution and the consequences of possible changes, to be able to make a positive contribution to the debate about the role they play in current society.
  • Identify the economic agents that make up an economy, understanding how they have been interrelated to date, how they are currently interrelated and forecast futures according to new circumstances and their influence on a specific company.
  • Organise the work in terms of good time management, organisation and planning.
  • Select and generate the information necessary for each problem, analyse it and take decisions based on that information.
  • Take account of social, economic and environmental impacts when operating within one's own area of knowledge.
  • Work well in a team, being able to argue proposals and validate or reject the arguments of others in a reasoned manner.
    Economics
  • Capacity for adapting to changing environments.
  • Capacity for independent learning in the future, gaining more profound knowledge of previous areas or learning new topics.
  • Demonstrate a thorough understanding of the concepts related to the objectives and instruments of economic policy.
  • Demonstrate initiative and work individually when the situation requires it.
  • Identify the processes that govern the operation of markets in different competition systems, different scenarios of interrelationship and different timescales.
  • Select and generate the information necessary for each problem, analyse it and take decisions based on that information.
  • 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 be capable of communicating information, ideas, problems and solutions to both specialised and non-specialised audiences.
  • Students must develop the necessary learning skills in order to undertake further training with a high degree of autonomy.
  • 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.
  • Take account of social, economic and environmental impacts when operating within one's own area of knowledge.
  • Take decisions in situations of uncertainty, demonstrating an entrepreneurial and innovative attitude.
  • Work well in a team, being able to argue proposals and validate or reject the arguments of others in a reasoned manner.
    Contemporary History, Politics and Economics
  • 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.
  • Innovate in the methods and processes of this area of knowledge in response to the needs and wishes of society.
  • Recognise institutional and regulatory design and the main economic policies implemented in current economies on different scales to manage economic growth and its cyclical oscillations.
  • Recognise the basic foundations of economic analysis from both a microeconomic and macroeconomic perspective.
  • 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 be capable of communicating information, ideas, problems and solutions to both specialised and non-specialised audiences.
  • Students must develop the necessary learning skills to undertake further training with a high degree of autonomy.
  • Work cooperatively in multidisciplinary and multicultural teams implementing new projects.

Learning Outcomes

  1. A capacity of oral and written communication in Catalan, Spanish and English, which allows them to summarise and present the work conducted both orally and in writing.
  2. Analyse economic facts and decisions about efficiency and equity.
  3. Analyse public policies.
  4. Analyse the elaboration process of economic policy and the strategies of its agents.
  5. Analyse the indicators of sustainability of academic and professional activities in the areas of knowledge, integrating social, economic and environmental dimensions.
  6. Analyse the problems underlying the coordination of economic policies.
  7. Analyse the role of international institutions in the economy.
  8. Analyse the underlying problems in the coordination of economic policies.
  9. Assess economic policy decisions in its different spheres.
  10. Capacity to adapt to changing environments.
  11. Capacity to continue future learning independently, acquiring further knowledge and exploring new areas of knowledge.
  12. Communicating in oral and written form in Catalan, Spanish and English, in order to be able to summarise and present the carried out project in both forms.
  13. Define the concepts relating to the objectives and instruments of economic policy.
  14. Demonstrate capacity to adapt to changing environments.
  15. Demonstrate initiative and work independently when required.
  16. Demonstrate motivation regarding the quality of the work performed and sensitivity regarding the consequences on the environment and society.
  17. Demonstrating a comprehension of the analysis of social phenomena presented in English, as well as observing their strengths and weaknesses.
  18. Describe the main economic agents making up the Spanish and Catalan economy.
  19. Develop strategies for autonomous learning.
  20. Examine the influence and the role of Spanish public institutions in the economy.
  21. Generating innovative and competitive proposals in research and professional activity.
  22. Identify the functions of the public sector as regulator of the economy, and the principles on which it is based.
  23. Identify the institutions and organisms through which public intervention and regulation of the economy take place.
  24. Identify the role of the public sector in the Spanish economy.
  25. Identify the social, economic and environmental implications of academic and professional activities within the area of your own knowledge.
  26. Lead multidisciplinary and multicultural teams, implement new projects, coordinate, negotiate and manage conflicts.
  27. Make decisions in situations of uncertainty and show an enterprising and innovative spirit.
  28. Organise work in relation to good time management and planning.
  29. Organise work, in terms of good time management and organisation and planning.
  30. Propose way of evaluating projects and actions to improve sustainability.
  31. Recognise the institutions and organisms through which public intervention and regulation of the economy take place.
  32. Respect the diversity and plurality of ideas, people and situations.
  33. Searching for documentary sources starting from concepts.
  34. Select and generate the information necessary for each problem, analyse it and take decisions based on that information.
  35. Select and generate the information needed for each problem, analyse it and make decisions based on this information.
  36. 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.
  37. Students must be capable of assessing the quality of their own work.
  38. 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.
  39. Students must be capable of communicating information, ideas, problems and solutions to both specialised and non-specialised audiences.
  40. Students must be capable of managing their own time, planning their own study, managing the relationship with their tutor or adviser, as well as setting and meeting deadlines for a work project.
  41. Students must develop the necessary learning skills in order to undertake further training with a high degree of autonomy.
  42. 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.
  43. Use of the available information technology and adaptation to new technological environments.
  44. Value ethical commitment in professional practice.
  45. Weigh up the impact of any long- or short-term difficulty, harm or discrimination that could be caused to certain persons or groups by the actions or projects.
  46. 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

Contents

The course presents the basic elements required to analyze and understand economic policy. The course reviews the various government interventions in the economy and discusses their implications. General aspects, objectives and policy instruments are discussed.

Syllabus

  1. Introduction to economic policy
  2. Public intervention and economic regulation
  3. Objectives, instruments and policies
  4. The elaboration of economic policy
  5. Employment
  6. Prices stability
  7. Economic growth
  8. Quality of life and the environment
  9. Income redistribution
  10. Monetary policy
  11. Fiscal policy
  12. Incomes policy
  13. Foreign policy and international coordination of economic policy

Activities and Methodology

Title Hours ECTS Learning Outcomes
Type: Directed      
Lectures 32.5 1.3 7, 4, 5, 8, 9, 11, 13, 17, 18, 25, 30, 42, 41, 36, 38, 31, 32, 45
Workshop and case studies 17 0.68 8, 37, 9, 33, 10, 1, 11, 15, 17, 19, 40, 16, 28, 29, 42, 39, 36, 38, 31, 35, 34, 12, 46, 43, 44
Type: Supervised      
Tutorials and monitoring 8 0.32 33, 10, 1, 11, 15, 17, 19, 40, 26, 16, 28, 29, 27, 39, 36, 38, 32, 35, 34, 12, 46, 43, 44, 45
Type: Autonomous      
Information collection and case studies preparation 44.5 1.78 7, 4, 5, 8, 37, 9, 33, 10, 1, 11, 13, 14, 15, 17, 18, 19, 21, 40, 25, 26, 16, 28, 29, 27, 41, 39, 36, 38, 31, 32, 35, 34, 12, 46, 43, 44
Reading and studying the course materials 44.5 1.78 7, 4, 5, 8, 9, 11, 13, 15, 17, 18, 19, 25, 28, 29, 30, 42, 41, 36, 31, 45

The lectures highlight the most important contents of each subject. When slides or PowerPoint presentations are used, these do not substitute class notes and the examination of the compulsory bibliography.

Workshop and case studies will follow the guidelines given by the teacher. These guidelines and other material will be available at “Campus Virtual”

“Campus Virutal” will support the teaching tasks and the interaction between students and teachers.

The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses.

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.


Assessment

Continous Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Coursework 20% 0 0 7, 4, 2, 5, 8, 6, 37, 9, 3, 33, 10, 11, 13, 14, 15, 17, 19, 21, 40, 22, 25, 23, 26, 16, 28, 29, 27, 41, 39, 36, 38, 31, 32, 35, 34, 12, 46, 43, 44, 45
Exercises delivered in class 10% 0 0 7, 4, 2, 5, 8, 6, 37, 9, 3, 33, 10, 1, 13, 14, 15, 20, 40, 24, 22, 25, 23, 16, 28, 29, 27, 36, 38, 31, 32, 35, 34, 12, 43
Final exam (second partial exam) 35% 2 0.08 7, 4, 2, 5, 8, 6, 9, 3, 1, 13, 18, 19, 20, 24, 25, 23, 15, 27, 30, 42, 41, 31, 35, 34, 12
First partial exam 35% 1.5 0.06 7, 4, 2, 5, 8, 6, 9, 3, 1, 13, 18, 19, 20, 24, 22, 25, 23, 15, 27, 42, 41, 31, 35, 34, 12

The course will be evaluated according to three types of activities:

  • First partial exam (35%) and final exam (second partial exam) (35%)

There will be two exams, which will evaluate half of the course each. Each exam weights 35% of the total grade. The first exam will be scheduled after the first half of the course in a date indicated by the teacher at the beginning of the course and the second at the end of the course, in the dates established by the Faculty. They will be written exams and their characteristics (open answer or test, number of questions, etc.) will be previously explained by the teacher.

  • Coursework (20%):

There coursework will weight 20% of the final grade. The guideline of the work (or works) will be available in the “Campus Virtual” and will be explained in class by the teacher. The teacher will indicate at the beginning of the course the deadline to deliver the work. The assessment will take into account a strict attachment to the guidelines, the quality of the ideas exposed, presentation and writing, teamwork and oral presentation.

  • Exercises delivered in class (10%):

Different exercises will be delivered in class following the guidelines provided by the teacher. These exercises account for 10% of the final grade and may be used to evaluate attendance and participation.

The final grade will be the weighed result of the different assessment activities of the course. If the student's grade is 5 or higher, the student passes the course and cannot be subject to further evaluation. If the student grade is less than 3.5, the student will have to repeat the course the following year.

A student is considered “non-evaluable” in final grade, whenever he/she did not participate to any evaluation activity. Therefore, a student participating to one or more single activities will be graded in accordance to the results of those activities evenif he/she does not show up at the exams.

 

Comprehensive evaluation

By requesting the comprehensive evaluation the student waives the option of continuous evaluation.

The comprehensive  evaluation must be requested at the Academic Management (Gestió acadèmica) of the Campus where the degree is taught. The request must be filed according to the procedure and the deadline  established by the administrative calendar of the Faculty of Economics and Business.

Student  attendance is mandatory on the day of the comprehensive assessment. The date will be the same as that of the final exam of the semester as per the evaluation calendar published by the Faculty of Economics and Business and approved by the Faculty's Teaching and Academic Affairs Committee.

The comprehensive evaluation will consist in a written exam (100% of weight in the final assessment), which should be carried out in person. The duration of the activity will be 90 minutes.

 

Calendar of evaluation activities

The dates of the evaluation activities (midterm exams, exercises in the classroom, assignments, ...) will be announced well in advance during the semester.

The date of the final exam is scheduled in the assessment calendar of the Faculty.

"The dates of evaluation activities cannot be modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity." Section 1 of Article 264. Calendar of evaluation activities (Academic Regulations UAB). 

Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule: e-Formulari per a la reprogramació de proves.

Grade revision process

After all grading activities have ended, students will be informed of the date and way in which the course grades will be published. Students will be also be informed of the procedure, place, date and time of grade revision following University regulations.

Retake Process

"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject." Section 2 of Article 261. The recovery (UAB Academic Regulations). Additionally, it is required that the student to have achieved an average grade of the subject greater than or equal to 3.5 and less than 5.

The date of the retake exam will be posted in the calendar of evaluation activities of the Faculty. Students who take this exam and pass, will get a grade of 5 for the subject. If the student does not pass the retake, the grade will remain unchanged, and hence, student will fail the course.

Irregularities in evaluation activities

In spite of other disciplinary measures deemed appropriate, and in accordance with current academic regulations, "in the case that the student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of various irregularities occur in the evaluation of the same subject, the final grade of this subject will be 0". Section 11 of Article 266. Results of the evaluation. (UAB Academic Regulations).

 


Bibliography

Basic references:

Bénassy-Quéré, Agnès, Coeuré, B., Jacquet, P. and Pisani-Ferry, J. (2018), Economic Policy. Theory and Practice. Oxford University Press, New York (Second edition).

 

Complementary references:

Bacaria, J., Brunet, F. (2012) "Regulatory quality and competitiveness in Europe" in González Fajardo, F., Benítez Rochel, J.J. and Pérez Moreno S. (Coords.) Propuestas de Política Económica ante los Desafíos Actuales, Madrid: Delta Publicaciones, pp. 89-123.

Baldwin, R., Weder di Mauro, Beatrice (2020) Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes. CEPR Press, London.

Cuadrado, J.R. (dir) (2023): Política Económica. Elaboración, Objetivos e Instrumentos, McGraw-Hill, Madrid (7ª edición).

ECB (2020) Annual Report 2019, ECB, Frankfurt am Main. Available at: https://www.ecb.europa.eu/pub/pdf/annrep/ar2019~c199d3633e.en.pdf  

ECB (2021) Annual Report 2020. ECB. Frankfurt am Main. Available at: https://www.ecb.europa.eu/pub/pdf/annrep/ar2020~4960fb81ae.en.pdf

ECB (2022) Annual Report 2021. ECB Frankfurt am Main. Available at: https://www.ecb.europa.eu/pub/pdf/annrep/ecb.ar2021~14d7439b2d.en.pdf

ECB (2023) Annual Report 2022. ECB Frankfurt am Main. Available at: https://www.ecb.europa.eu/pub/pdf/annrep/ecb.ar2022~8ae51d163b.es.pdf

ECB (2024) Annual Report 2023. ECB Frankfurt am Main. Available at: https://www.ecb.europa.eu/press/annual-reports-financial-statements/annual/html/ecb.ar2023~d033c21ac2.en.html

Euromemo Group (2020) EuroMemorandum 2020. A Green New Deal for Europe – Opportunities and Challenges. Disponible en: https://euromemo.eu/wp-content/uploads/pdfs/uploads/euromemorandum_2020.pdf

Euromemo Group (2021) EuroMemorandum 2021. A post-Covid 19 global-local agenda for a socio-ecological transformation in Europe. Disponible en: https://euromemo.eu/wp-content/uploads/pdfs/uploads/euromemorandum_2021_updated.pdf

Euromemo Group (2022) EuroMemorandum 2022. Caught between the Covid-19 crisis and the war in Ukraine: the EU in 2022. Disponible en: https://euromemo.eu/wp-content/uploads/pdfs/uploads/euromemorandum2022_final_draft_28march_2022.pdf

Euromemo Group (2023) EuroMemorandum 2023. Europe in Polycrisis: Struggles for Survival, Climate and Energy Justice. Disponible en: https://euromemo.eu/wp-content/uploads/pdfs/uploads/euromemorandum_2023.pdf

Euromemo Group (2024) EuroMemorandum 2024. How should we cope with the polycrisis? Disponible en:  https://euromemo.eu/wp-content/uploads/2024/03/EuroMemorandum-2024.pdf 

Fernández Díaz, A., Parejo Gámir, J.A.y Rodríguez Saiz, L. (2011) Política Económica, Cuarta Edición, McGraw Hill (4ª edition rev.)

Fernández Díaz, A. (dir.) (1999) Fundamentos y Papel Actual de la Política Económica, Pirámide, Madrid.

Ochando Claramunt, C. (coord.) (2021) Políticas Económicas Coyunturales. Ojetivos e Instrumentos. Tirant lo Blanch, Valencia (2ª edición)

Padilla Rosa, E., Ramos-Martín, J. (Eds.) (2023) Elgar Encyclopedia of Ecological Economics, Edward Elgar Publishing, Cheltenham, UK and Northampton, Massachusetts, USA

Sánchez Andrés, A. (2021) Introducción a la Política EconómicaConcepto, Estructura y Formación. Tirant lo Blanch, Valencia.

Sánchez Andrés, A. (coord.) (2022) Políticas Económicas Estructurales. Tirant lo Blanch, Valencia.

  

Web links:

European Central Bank: http://www.ecb.int/home/html/index.en.html

Banco de España: http://www.bde.es

World Banc: http://www.worldbank.org/

European Commission: Economy and Finance: http://ec.europa.eu/dgs/economy_finance/index_en.htm

Departamentd'Economia i Hisenda (Generalitat de Catalunya): http://economia.gencat.cat/ca/inici/

International Monetary Fund: http://www.imf.org/external/spanish/index.htm

Instituto Nacional de Estadística: http://www.ine.es/

Ministerio de Hacienda: https://www.hacienda.gob.es/

Ministerio de Asuntos Económicosy Transición Digital: https://portal.mineco.gob.es/

Servicio público de empleo estatal: http://www.sepe.es/


Software

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Language list

Name Group Language Semester Turn
(PAUL) Classroom practices 1 Spanish first semester morning-mixed
(PAUL) Classroom practices 8 English first semester morning-mixed
(PAUL) Classroom practices 51 Catalan first semester afternoon
(PLAB) Practical laboratories 1 Spanish first semester morning-mixed
(PLAB) Practical laboratories 8 English first semester morning-mixed
(PLAB) Practical laboratories 51 Catalan first semester afternoon
(TE) Theory 1 Spanish first semester morning-mixed
(TE) Theory 8 English first semester morning-mixed
(TE) Theory 51 Catalan first semester afternoon