Year 2010-11

  

Introduction to Economics (21286)

  

  

Qualification: Degree in Political and Administration Sciences

Year: 1st

Term: 3^rd  

Number of ECTS credits: 6 credits

Hours of student dedication: 150 hours

Teaching language: Spanish

 

 

 

1. Introduction to the course

 

Introduction to economics I is an introductory course that will allow students to acquire basic knowledge of micro and macro economics in contemporary economies.  This course sets out the fundamental elements needed to be able to situate the importance of economic factors within the context of Political Science and the other courses in this degree.  No previous knowledge is necessary for this course.

 

2. Competencies to be achieved

 

Generic competences:

 

Instrumental

•-          Ability to analyse (economic problems using simple economic models)

•-          Problem solving (applying simple economic models).

 

Interpersonal

•-          Social interaction by participating in small group seminars (ability to contribute to discussions, to listen, etc.)

 

Systemic

•-          Understanding media reports that analyse economic realities

•-          Ability to work alone (solving exercises, researching the media, etc.)

 

Specific competences:

 

•-          Identifying micro and macro-economic decisions and problems.

•-          Ability to understand and use very simple economic models.

•-          Ability to make relationships between the analysis of economic problems and the objective and tools of economic policy.

•-          Knowledge of the main micro and macro-economic variables, and of some of the main data bases where they can be found.

  

3. Contents

 

Topic 1. The main principles in economics.

Basic reading: Mankiw, Chpt. 1 and 2

Topic 2. Supply and demand.

Basic reading: Mankiw, Chpt. 4, 6(part) and 7

Topic 3. The businesses of competitive markets.

Basic reading: Mankiw, Chpt.14 and 18

Topic 4. Monopolies and other non-competitive markets

Basic reading: Mankiw, Chpt. 15 and part of 16

Topic 5. Macroeconomic data

Basic reading: Mankiw, Chpt. 23, 24 and 30 (p409-412)

Topic 6.  Savings, investment and the financial system

Basic reading: Mankiw, Chpt. 26

Topic 7. The monetary system

Basic reading: Mankiw, Chpt. 29

Topic 8. Aggregate supply and demand. Economic fluctuations.

Basic reading: Mankiw, Chpt. 33

 

4. Assessment

 

The final qualification for this course will be made up of two marks: the average from 4 "mini tests" and the final exam mark.

 

The "mini tests" will be taken every two weeks in the seminars.  They will either be a series of multiple answer test questions or a problem.  The tests will be 15 or 20 minutes long and held at the end of each seminar. The tests are compulsory. Students who fail to take a test without a valid cause will be awarded a 0 for it.

 

The final mark will be a weighted average. The 4 "mini tests" have a value of 30% of the final mark.  The final exam will account for 70% of the final mark.

 

5. Readings and resources

  

5.1. Basic reading

 

MANKIW, G. Principios de Economía. McGraw-Hill, 200X, latest edition.

KRUGMAN, P and WELLS, R. Introducción a la economía. Macroeconomía. Worth

Publishers. 2006.

 

5.2. Additional Reading

  

HALL,R.E. Y LIEBERMAN, M. Economía. Principios y aplicaciones. Thomson. 2003

FRANK, R. and B. BERNANKE. Principios de economía. McGraw-Hill, 200X.

MOCHÓN, F. Principios de Economía. McGraw-Hill, 200X, latest edition.

  

6. Methodology

 

This is a 10 week long course.  Each week there will be a two hour class for all students given by the teacher responsible for the course (lecture) where economic theory will be covered.  At the same time, during the 8 weeks, there will be two hour long practical sessions taught in 2 smaller groups. These practical sessions will be used to develop and explore the topics introduced in the lectures and will be based on completing applied exercises.

 

The working dynamics of this course will be: 1) theoretical sessions, where students' active participation is expected (before the start of each topic, the material to be covered in class will be available in the Aula Global), 2) resolution of exercise lists (this is compulsory).

 

The course web page will be used throughout the term and all course material will be available on it.  This includes class lists, solutions to exercises set and additional material such as readings, data, other exercises, etc.

 

All actualisations made to materials on the web will be advertised beforehand in class and on the web page itself.

 

 

7. Programme of activities

  

Week 1: topic 1

 

Week 2: topic 1, list 1

 

Week 3: topic 2, list 2

 

Week 4: topic 3, list 3

 

Week 5: topic 4, list 4

 

Week 6: topic 5, list 5

 

Week 7: topic 6, list 6

 

Week 8: topic 7, list 7

 

Week 9: topic 8, list 8

 

Week 10: Revision of theory