Economics and Analytical Tools for Studying Law (20610)

• Year: 1st
• Term: 2nd and 3rd
• Number of ECTS credits: 10
• Student hours: 250 h.

 

Syllabus

"Economics and Analytical Tools for Studying Law" is one of the basic courses on the Law Degree curriculum. The course is taught during the second and third terms of the first year and the content is divided into four sections.

The course has two main objectives. In the second term students familiarise themselves with the main issues which affect economies as a whole, such as the basic behaviour of economic agents. Throughout the third term they study the main tools for dealing with statistics and the bases of game theory reasoning. The course is therefore an indispensable supplement to law students' training with regard to introductory aspects of economic theory and statistics, as it provides students with the basic economic and analytical tools for assessing social and economic phenomena which are regulated by law.

The first section (Introduction to Microeconomics) helps students to understand how families and companies make decisions and interact in the market, while the second (Introduction to Macroeconomics) enables them to understand how the outcome of all the interactions between the agents make up economic aggregates, how these aggregates are shaped and are related and how they simultaneously affect the group made up of families, companies and markets in one country or a group of countries.

The third section (Introduction to Game Theory) centres on the study of multi-person decision-making and how economic agents adopt different strategies when they interact. Finally, the fourth section (Introduction to a Statistics) aims to provide students with the main mechanisms for describing data analysis.  

SECTION BLOC 1: INTRODUCTION TO MICROECONOMICS

TOPIC 1. BASIC PRINCIPLES OF MICROECONOMICS

TOPIC 2. MARKET FORCES: SUPPLY AND DEMAND

TOPIC 3. MARKET EFFICIENCY  

TOPIC 4. THE FIRM: PRODUCTION AND COSTS

TOPIC 5. THE FIRM IN COMPETITIVE MARKETS

TOPIC 6. IMPERFECT COMPETITION  

SECTION BLOC 2: INTRODUCTION TO MACROECONOMICS

TOPIC 7. INTRODUCTION TO MACRO-ECONOMICS. ECONOMIC AGGREGATES. GROWTH

TOPIC 8. MONETARY POLICY

TOPIC 9. FISCAL POLICY

TOPIC 10. THE AGGREGATE SUPPLY AND DEMAND MODEL

SECTION 3: INTRODUCTION TO DECISION THEORY

TOPIC 1. STATIC GAMES OF COMPLETE AND PERFECT INFORMATION

TOPIC 2. DYNAMIC GAMES OF COMPLETE INFORMATION

TOPIC 3. REPEATED GAMES

SECTION BLOC 4: INTRODUCTION TO STATISTICS

TOPIC 4. DATA DESCRIPTION AND ITS RELATIONS

TOPIC 5. CORRELATIONS AND REGRESSIONS

TOPIC 6. DISTRIBUTIONS AND PROBABILITY

TOPIC 7.  STATISTICAL INFERENCE AND BASICS CONCEPTS, ESTIMATION AND HYPOTHESIS CONTRAST