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Introduction to Economics

Code: 102277 ECTS Credits: 6
2025/2026
Degree Type Year
Law FB 1

Contact

Name:
Fco. Javier Asensio Ruiz De Alda
Email:
javier.asensio@uab.cat

Teachers

Ángel Hermosilla Pérez
Víctor Fernández Modrego
Pau Costa Capdevila
Esther Mañe Borras
(External) per determinar
(External) per determinar

Teaching groups languages

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


Prerequisites

None


Objectives and Contextualisation

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.


Competences

  • Efficiently managing information, being capable of assimilating a considerable volume of data in a limited amount of time.
  • Identifying and solving problems.
  • Identifying the underlying conflicts of interest in disputes and real cases.
  • Integrating the importance of Law as a regulatory system of social relations.
  • Managing bibliographic and documentary resources: databases, browsing, etc.
  • Students must be capable of learning autonomously and having an entrepreneurial spirit.
  • Students must be capable of perceiving the impact and implications of the decisions taken.
  • Use different information and communication technologies.
  • Working in multidisciplinary and interdisciplinary fields.

Learning Outcomes

  1. Efficiently managing information, being capable of assimilating a considerable volume of data in a limited amount of time.
  2. Identifying and solving problems.
  3. Knowing the nature of the conflicts underlying in a market economy.
  4. Knowing the ways of assessing conflicts that might inform the legal standards.
  5. Managing bibliographic and documentary resources: databases, browsing, etc.
  6. Possessing basic economic knowledge.
  7. Relating the role of regulations in the functioning of the economic activity.
  8. Students must be capable of learning autonomously and having an entrepreneurial spirit.
  9. Students must be capable of perceiving the impact and implications of the decisions taken.
  10. Use different information and communication technologies.
  11. Working in multidisciplinary and interdisciplinary fields.

Content

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.

 
 
 

Activities and Methodology

Title Hours ECTS Learning Outcomes
Type: Directed      
Lectures 22 0.88 3, 4, 7, 6, 11
Seminar sessions, problem solving and case studies 22 0.88 3, 4, 5, 2, 7, 8, 9, 6, 11
Type: Supervised      
Tutorials 2 0.08 1, 6
Type: Autonomous      
Assessment 0 0 3, 4, 1, 5, 2, 7, 8, 9, 6, 11, 10
Individual study, solving problems, preparation of essays and other recommended activities 104 4.16 3, 4, 1, 5, 2, 7, 9, 6, 10

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.

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
End of term test 35% 0 0 3, 1, 5, 2, 7, 8, 9, 6, 11, 10
Midterm test 35% 0 0 3, 4, 1, 5, 2, 7, 8, 9, 6, 11, 10
Problem solving and cases 30% 0 0 3, 4, 1, 5, 2, 7, 8, 9, 6, 11, 10

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


Groups and Languages

Please note that this information is provisional until 30 November 2025. You can check it through this link. To consult the language you will need to enter the CODE of the subject.

Name Group Language Semester Turn
(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
(SEM30) Seminaris (30 estudiants per grup) 511 Spanish 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
(TE) Theory 1 Spanish second semester morning-mixed
(TE) Theory 2 Catalan second semester morning-mixed
(TE) Theory 51 Spanish second semester afternoon