Universitat Internacional de Catalunya
A Firm's Economic Environment
Other languages of instruction: English, Spanish
If the student is enrolled for the English track then classes for that subject will be taught in the same language.
Teaching staff
By appointment. In order to make an appointment, please request one by writing to: sourzay@uic.es
Introduction
In this course, we'll explore how goods, services, and productive resources move across borders, shaping our global economy. You'll learn how to evaluate the costs and benefits of economic integration and discover how these processes drive economic growth and convergence. Through real-world data and case studies, we will uncover the dynamic impacts these factors have on the economic landscape, equipping you with the tools to understand and influence today's interconnected world.
Pre-course requirements
It is advisable, but not necessary, to have studied Macroeconomics 1.
Objectives
The objectives of this course are to analyse how goods, services, and productive factors move across different markets, to conduct detailed cost-benefit analyses of various integration processes, and to examine how economic convergence occurs within growth models, supported by empirical evidence.
Competences/Learning outcomes of the degree programme
By competences we mean the personal abilities that lead to excellent performance of the work carried out in a work position in a specific organization. The different competences manifest themselves in normal daily activities, allowing the tasks to be carried out successfully. Given that we are not talking of theoretical knowledge but personal skills, competences are therefore something complementary to professional theory and knowledge. Typically, competences demand an active and consistent effort from the individuals.
- 21 - To be familiar with the main theories in the fields of microeconomics and macroeconomics.
- 23 - To be familiar with and know how to use microeconomic and macroeconomic analysis terminology.
- 27 - To be able to read and understand literature on economic and business issues.
- 34 - To develop the ability to predict situations and anticipate events, as well as be able to recognise and interpret an economic situation within a specific context.
- 56 - To be able to create arguments which are conducive to critical and self-critical thinking.
Learning outcomes of the subject
Understand and apply the concepts of economic integration and mobility of productive factors.
Analyse and interpret the effects of exchange rate adjustments and crises.
Evaluate the economic impact of European monetary integration and the euro.
Syllabus
Lesson 1: The Open Economy
Lesson 2: Mundell-Fleming Model
Lesson 3: Exchange rates: adjustments, crisis, and systems
Lesson 4: European economic and monetary integration
Lesson 5: The euro
Note: The content of this course may change based on the needs and pace of the class, subject to the instructor's discretion.
Teaching and learning activities
In person
As with any other discipline belonging to the field of economic theory, the study of Macroeconomics must be done gradually. In the learning process, comprehension and capacity of analysis are more important than memory. Experience leads us to conclude that students who work on a regular basis get the best results. In accordance with that, the evaluation method adopted here requires attending lectures and encourages continuous study.
Evaluation systems and criteria
In person
The evaluation of this course follows a “Continued Assessment” path, which includes various components contributing to the final grade. There are also specific attendance requirements and provisions for a second call exam.
1. Continued Assessment:
- 2 In-class tests: 20% of the final grade (10% each).
- Essay: 30% of the final grade.
- Final exam: 50% of the final grade.
2. Attendance Requirement:
- Students must attend at least 70% of the classes to be eligible for the continued assessment.
3. Failure to meet attendance requirement:
-
Students who do not attend at least 70% of the classes will not be eligible for continued assessment and will go directly to the second call exam. Additionally, students may be required to complete an extra activity to compensate for the lack of coursework completed during the semester, even if they pass the second call exam.
4. Second call exam:
- For students who fail the continued assessment or do not meet the attendance requirement.
- The second call exam accounts for 100% of the grade.
- The maximum grade obtainable in the second call exam is 6 out of 10.
In order to pass the subject, you must obtain a minimum grade of 5 out of 10.
Computers and cellphones are prohibited in the classroom. Students can either print the slides in advance and take notes on them, or bring a tablet to do so.
Bibliography and resources
Mankiw, N. G. (2013). Macroeconomics (8th ed.). Macmillan Learning.
Blanchard, O., Amighini, A., & Giavazzi, F. (2017). Macroeconomics (7th ed.). Pearson.