Universitat Internacional de Catalunya
Economics
Teaching staff
Introduction
- It will help you understand the world in which you live. There are many questions about the economy that might spark your curiosity. Why do airlines charge less for a round-trip ticket if the traveler stays over a Saturday night? Why are living standards so meager in many African countries? Why do some countries have high rates of inflation while others have stable prices?
- It will make you a more astute participant in the economy. As you go about your life, you make many economic decisions. While you are a student, you decide how many years to stay in school. Once you take a job, you decide how much of your income to spend, how much to save, and how to invest your savings. Someday you may find yourself running a small business or a large corporation, and you will decide what prices to charge for your products. The insights developed in the coming chapters will give you a new perspective on how best to make these decisions.
- It will give you a better understanding of both the potential and the limits of economic policy. Economic questions are always on the minds of policymakers in mayors’ offices, regional presidents’ mansions, and the "Moncloa Palace". What are the burdens associated with alternative forms of taxation? What are the effects of free trade with other countries? What is the best way to protect the environment? How does a government budget deficit affect the economy? As a voter, you help choose the policies that guide the allocation of society’s resources. An understanding of economics will help you carry out that responsibility.
Pre-course requirements
It is indeed a complex subject. Still, it is our view (and experience) that with patience and work everyone can gain the necessary command over it.
•The purpose of this subject guide is to assist you in your endeavor and to guide you through the labyrinth of material, levels of knowledge and examination standards. There are numerous textbooks at the introductory level.
•I would therefore strongly advise against picking a single textbook and concentrating one’s effort on it. Instead, you should conduct your study along the lines and recommendations of this subject guide.
Objectives
• Introduce students to an understanding of the domain of economics as a social theory
• Introduce students to the main analytical tools which are used in economic analysis
• Introduce students to the main conclusions derived from economic analysis and to develop students’ understanding of their organizational and policy implications for companies especially in audiovisual communication
• Enable students to participate in debates on economic matters.
Competences/Learning outcomes of the degree programme
- 70 - Knowledge and mastery of economic data, statistics and graphs
- 71 - Knowledge and mastery of principle economic concepts.
- 77 - The ability and capacity to take responsibility for the communication area of an organisation
- 78 - The ability and capacity to establish a plan of communication
Learning outcomes of the subject
At the end of this course and having completed the Essential reading and activities, you should be able to:
• define the main concepts and describe the models and methods used in economic analysis
• formulate problems described in everyday language in the language of economic modelling
• apply and use the main economic models used in economic analysis to solve these problems in companies related to advertising sector
• assess the potential and limitations of the models and methods used in economic analysis.
Syllabus
•To know about economics it is indeed sufficient to read about the various economic concepts. Then, whenever you encounter them you will understand what is meant by these concepts.
•To know what the concepts are one must not only acquaint one’s self with the meaning of these concepts but also able to use them. This means that after learning about the concept, ONE MUST DO AS MANY EXERCICES AS POSSIBLE.
The syllabus is divided into two parts:
- The first part is dedicated to Microeconomics (1 ->5): this is the study of how households and firms make decisions and how they interact in specific markets.
- The second part is dedicated to Macroeconomics (6 -> 8): this is the study of economywide phenomena such as inflation, unemployment rate etc ...
SYLLABUS:
- INTRODUCTION
- HOW MARKETS WORK
- MARKETS AND WELFARE
- THE ECONOMICS OF THE PUBLIC SECTOR
- FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY
- THE DATA OF MACROECONOMICS
- THE REAL ECONOMY IN THE LONG RUN
- MONEY AND PRICES IN THE LONG RUN
Teaching and learning activities
In person
All the activities or exercises is focused to work in groups.
Working with others:
Group work is an important element of effective learning. Of course, you can study the material on your own, but discussing problems and insights with others is important for two reasons. First, it exposes you to different ways of thinking about the same problem. Second, it forces you to convince others about your own line of argument. The process of trying to convince others will enable you to gain a much deeper understanding of the material you are studying
| TRAINING ACTIVITY | ECTS CREDITS |
| Coaching. Monitoring how students learn the content of the subject, either individually or in groups. In the coaching sessions, mistakes will be corrected, queries answered, and exercises and activities to achieve the established objectives will be suggested. | 0.6 |
| Lectures. In lectures, lecturers/professors not only transmit content or knowledge, but also, and above all else, attitudes, motivation, skills and values, etc. They also ensure that participants can express their opinions and arguments to the other students. | 2.2 |
| Seminar. This activity will consist of taking an in-depth look at specific up-to-date topics in a monographic manner-in some cases these topics will have been debated socially-, via active work in small groups. | 1.0 |
| Meeting Point. Meetings will be organised with notable people from the professional and scientific fields or the international field, and students. These sessions will take the form of conferences, work sessions, discussions, or interviews, etc. | 0.6 |
| Practical workshop. A highly practical working activity, where students can acquire skills that are practical or also theoretical (intellectual skills, logical skills, critical skills, intellectual learning skills, study skills, quoting skills, etc). | 1.0 |
| Lab. Working groups that combine theory and practice. The aim of these is not to undertake already known techniques, but instead to make progress that is both theoretical and technical. These Lab sessions will culminate in the creation of a professional or semi-professional product. | 0.6 |
Evaluation systems and criteria
In person
Attendance. It is not compulsory (attendance won’t be recorded). However, it will be considered for the final grades.
Course grading:•Attendance + attitude + participation in class: 10%.
•2 Assignments: 15% in total.
•First exam: 37.5%. •Secondl exam: 37.5%.Assignments will be brief essays on topics discussed in class.
•Late submissions (even by one second only): They will be capped to 7.0 maximum (out of 10). •Assignments which did not undergo Turnitin scrutiniy won’t be accepted.Exams: Two written exams in class. 37.5% each exams.
The course grades will be the weighted average of all the above. However, for the weihthed average to be computed it is a sine qua non condition to pass both exams (5.0 at least each, never averaged).
To those students who passed the first exam, the second exam will feature only the second part of the course. To those students who did not pass the first exam, the second one will feature the complete course and itsrelative weight will be 75% of the total grades.
Exams will never be compensated, hey must be passed on a stand-alone basis. Students who passed the first exam but fail the second one will have to go to the second oficial call (segunda convocatoria oficial). Students who did not pass the first exam and don't pass the second exam (100% of the contents) wll have to take the second call (segunda convocatoria oficial).
GRADING EXAMPLES
•General pattern.
Attendance*10% + Assignments*15% + Midterm exam*37.5% + Final Exam (only second half of the contents)*37.5%
•A student fails the midterm exam.
Attendance*10% + Assignments*15% + Final Exam (all the contents)* 75%
Bibliography and resources
Economics. Lipsey and Chrystal 12th Ed.