Course guide of Political Economy (2351115)

Curso 2023/2024
Approval date: 23/06/2023

Grado (bachelor's degree)

Bachelor'S Degree in Business Administration and Management

Branch

Social and Legal Sciences

Module

Formación Básica

Subject

Economía

Year of study

1

Semester

1

ECTS Credits

6

Course type

Core course

Teaching staff

Theory

  • Soledad Barrios Martínez. Grupos: A y B
  • David Mark Epstein . Grupo: Z
  • Carmen Fernández Aguilar. Grupo: C
  • Jesús Molina Belmonte. Grupo: D
  • María Dolores Moreno Herrero. Grupo: C

Practice

  • Soledad Barrios Martínez Grupos: 1, 2, 3 y 4
  • Carmen Fernández Aguilar Grupos: 5 y 6
  • Jesús Molina Belmonte Grupos: 7 y 8
  • María Dolores Moreno Herrero Grupos: 5 y 6

Timetable for tutorials

Soledad Barrios Martínez

Ver email
  • First semester
    • Monday de 10:30 a 12:30 (C-118 F.Empresariales)
    • Tuesday de 08:30 a 10:30 (C-118 F.Empresariales)
    • Wednesday de 12:30 a 14:30 (C-118 F.Empresariales)
  • Second semester
    • Tuesday de 09:30 a 11:30 (Ets Ing. Caminos Desp. 31)
    • Wednesday de 08:30 a 12:30 (C-118 F.Empresariales)

David Mark Epstein

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  • Monday de 10:30 a 12:30 (C115 - F.CC.Ee.)
  • Tuesday de 10:30 a 12:30 (C115 - F.CC.Ee.)

Carmen Fernández Aguilar

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  • Monday de 13:00 a 15:00 (C-128 Fac. Empresariales)
  • Wednesday de 17:00 a 18:00 (C-128 Fac. Empresariales)
  • Thursday de 15:30 a 17:30 (C-128 Fac. Empresariales)

Jesús Molina Belmonte

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  • First semester
    • Monday de 15:30 a 17:30 (C-123 F. Empresariales)
    • Tuesday de 15:30 a 19:30 (C-123 F. Empresariales)
  • Second semester
    • Tuesday
      • 12:30 a 14:30 (C-123 F. Empresariales)
      • 15:30 a 17:30 (C-123 F. Empresariales)
    • Wednesday de 12:30 a 14:30 (C-123 F. Empresariales)

María Dolores Moreno Herrero

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  • First semester
    • Monday de 10:30 a 12:30 (C-121 F. Empresariales)
    • Tuesday de 10:30 a 12:30 (C-121 F. Empresariales)
    • Wednesday de 08:30 a 10:30 (C-121 F. Empresariales)
  • Second semester
    • Wednesday de 08:30 a 14:30 (C-121 F. Empresariales)

Prerequisites of recommendations

Students are recommended to have prior knowledge of graphical representation and elemental mathematical analysis, and to have a level of English equivalent to B2, and not less than B1 (Common European Framework of Reference for Languages).

Brief description of content (According to official validation report)

  • Basic principles of Economics
  • Supply and demand. Elasticity. Surplus.
  • Market failure and State intervention.
  • Overview of the Macro-economy (the economic cycle, inflation and unemployment).
  • Measurement of GDP.
  • Aggregate supply and demand. Fiscal policy and monetary policy

General and specific competences

General competences

  • CG01. Ability to learn and work autonomously.
  • CG02. Ability to analyse and search for information from a variety of sources applicable to the field of study.
  • CG04. Ability to work in a team.
  • CG06. Ability to analyse and summarise.
  • CG08. Problem-solving skills in economic and business contexts.
  • CG14. Ability to convey information, ideas and solutions to problems raised.
  • CG16. Sensitivity towards environmental and social issues
  • CG19. Oral and written communication skills in Spanish.
  • CG23. Cognitive comprehension ability
  • CG25. Habilidad en las relaciones interpersonales 
  • CG26. Capacidad crítica y autocrítica 

Specific competences

  • CE28. Conocer y aplicar los conceptos básicos de Economía.  
  • CE29. Adquirir los conocimientos básicos de los fundamentos del análisis microeconómico y macroeconómico 
  • CE30. Conocer los criterios de elección económica de los agentes, el papel económico del Estado y cómo se determina el precio en los mercados de productos y en los mercados de factores.  
  • CE31. Conocer la determinación de la renta de equilibrio en los mercados reales y financieros (en una economía cerrada y en una economía abierta), el modelo de oferta y demanda agregadas, y la eficacia de la política fiscal y de la política monetaria. 
  • CE32. Understand the different economic policies and their application to a variety of real-world problems.
  • CE33. Poder transmitir información, ideas y soluciones sobre problemas planteados. 

Transversal competences

  • CT02. Assess, on the basis of the relevant information records, the situation and foreseeable evolution of a company, issue reports on specific company and market situations, and make decisions on the basis of the resulting information.

Objectives (Expressed as expected learning outcomes)

  • Understand and apply the basic concepts of Economics.
  • Understand and apply the basic concepts of Microeconomics.
  • Understand and apply the basic concepts of Macroeconomics.
  • Understand how the different economic agents interact.
  • Understand the different options faced by those charged with economic policy when applying economic models to real-world problems.

Detailed syllabus

Theory

TOPICS TAUGHT

  1. BASIC PRINCIPLES OF ECONOMICS
  2. DEMAND AND SUPPLY: THE MARKET
  3. THE FIRM AND PRODUCT MARKETS
  4. THE ROLE OF THE STATE
  5. MACROECONOMICS
  6. AGGREGATE DEMAND AND FISCAL POLICY
  7. MONEY, THE FINANCIAL SECTOR AND MONETARY POLICY
  8. INTERNATIONAL TRADE AND THE OPEN MARKET ECONOMY

Practice

SEMINARS

Students will be required to complete practical exercises and participate in seminar groups

Bibliography

Basic reading list

Samuel Bowles, Frank Roosevelt, Richard Edwards, and Mehrene Larudee. Understanding Capitalism, Competition, Command, and Change. Oxford University Press. ISBN: 9780190610937

Krugman, P., Wells, R. y Graddy, K. (2011): Essentials of economics, Worth publishers: New York

Complementary reading

The Economist (online newspaper). www.economist.com

The Bottom Line (podcasts on business and economics) https://www.bbc.co.uk/programmes/b006sz6t/episodes/player

50 things that made the modern economy (podcasts on economics) https://www.bbc.co.uk/programmes/w3csz2wl

Simon Evans goes to market (podcasts on economics) https://www.bbc.co.uk/programmes/m00051lf

Enron: the smartest guys in the room (documentary) https://youtu.be/H2f7FunDuTU

Milton Friedman. I, pencil (monologue) https://youtu.be/67tHtpac5ws

Recommended links

Teaching methods

  • MD01. Docencia presencial en el aula 
  • MD02. Estudio individualizado del alumno, búsqueda, consulta y tratamiento de información, resolución de problemas y casos prácticos, y realización de trabajos y exposiciones. 
  • MD03. Tutorías individuales y/o colectivas y evaluación  

Assessment methods (Instruments, criteria and percentages)

Ordinary assessment session

Continuous evaluation:

Examinations and tests – physical and/or online: - 60%

Other evaluable activities (attendance, participation, practical activities, coursework, tests, oral evaluation by GoogleMeet using an email account @go.ugr.es ) – physical and/or online –40%

Students are required to obtain at least 50% in the examination and 40% in other evaluable activities. The overall pass mark is 5/10.

Ordinary exam

The exam consists of multiple choice questions and short essays

Extraordinary assessment session

Extraordinary exam

The exam consists of multiple choice questions and short essays

Single final assessment

Students should apply in advance to the Director of the department.

Final exam (written and/or oral, either physical or online) 100%

Additional information

STUDENTS WITH DISABILITIES AND SPECIAL NEEDS:

The Department in accordance with the Regulations for the attention to students with disabilities and other specific educational support needs (approved by the Governing Board of the University of Granada on 20th September 2016) will promote the right to education under conditions of equal opportunities to students with disabilities and other specific educational support needs. The necessary assistance actions will be established to achieve their full and effective inclusion, guaranteeing their right to inclusive education, in accordance with the principles of non-discrimination, equal opportunities and universal accessibility, so that they can achieve the maximum possible development of their personal and , in any case, the objectives established in general for all students. Likewise, according to article 11 current Rules for Assessment of students at the University of Granada, the evaluation systems will be adapted to students with disabilities or other specific needs of educational support, guaranteeing in any case their rights and favouring their inclusion in university studies.