During his talk, Argandoña gave a simple, informal breakdown of the keys to understanding the economic crisis, including how it began, how it evolved and how it can be overcome.

He guided the students through stand-out issues such as the rate of economic growth, balance of accounts, household income, exports, capital goods and savings before going on to examine the 2012 reforms in the areas of employment and public debt.

“Economics is easy. You need a grasp of maths and economic models in order to understand it, but economics is not difficult”, Argandoña said. “Understanding human behaviour is also important, as it cannot be explained through economic models alone”, he added.

About the PEA

The UIC’s Academic Excellence Programme (PEA), which goes by the specific title of “Bridging University and Business”, is a seminar for the most outstanding students in the second to fourth years of the UIC Business Administration programme. It is run by the Faculty of Economic and Social Sciences and is currently in its inaugural edition.

The programme comprises two modules, divided between the two semesters of the academic year. Each module has five sessions dedicated to different areas of management and features distinguished guest speakers from the world of business. Additionally, during each semester the students take part in the Consulting Competition, in which they have to form a consultancy group and prepare a response to a specific business-related challenge. At the end of the two modules, the students present their proposals to a panel of experts.