TecnoCampus Foundation
eCampus
University Business
eCampus

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General information

Subject type: Mandatory

Coordinator: Núria Masferrer Llabinés

Trimester: First term

Credits: 4

Teaching staff: 

Alexander Kucel
Eloi Serrano Robles 
Ivette Fuentes Molina 
Maria Del Roser Alvarez Klee 

Teaching languages

  • Catalan
  • Spanish
  • English

Classes in Spanish: Spanish (80%), English (20%)

Check the schedules of the different groups to know the language of teaching classes. Although the material can be in any of the three languages.

 

Skills

Basic skills

  • B3_Students have the ability to gather and interpret relevant data (usually within their area of ​​study), to make judgments that include reflection on relevant social, scientific or ethical issues

     

  • B5_That students have developed those learning skills necessary to undertake further studies with a high degree of autonomy

Specific skills

  • E1_Interpret basic economic concepts and economic reasoning, as well as microeconomic and macroeconomic functioning

     

  • E9_Use mathematical tools and advanced statistical tools for decision making and contrasting various economic assumptions

     

General competencies

  • G2_Be able to innovate by developing an open attitude to change and be willing to re-evaluate old mental models that limit thinking

Transversal competences

  • T3_Show entrepreneurial leadership and leadership skills that build personal confidence and reduce fear of risk

     

  • T5_Develop tasks applying, with flexibility and creativity, the knowledge acquired and adapting it to new contexts and situations

     

Description

The subject Analysis of the Macroeconomic Environment is part of the introduction to the fundamentals of macroeconomic analysis. The aim of the course is to provide an insight into the functioning of the economy in the markets for goods and services and in the financial markets. The aim is for the student to acquire a rigorous and up-to-date view of the main problems and perspectives of macroeconomics.

The macroeconomic analysis is emphasized by analyzing the fundamental variables that affect modern economies: sustainable growth of the economy and respect for the environment, inflation and deflation, employment and unemployment, public finances and external balance, as well as the analysis of economic policies, especially demand and supply policies necessary for the stability and development of countries.

The classroom (physical or virtual) is a safe space, free of sexist, racist, homophobic, transphobic and discriminatory attitudes, either towards students or teachers. We trust that together we can create a safe space to learn without having to suffer prejudices from others.

Contents

Topic 1. Introduction

  • The importance of macroeconomics.
  • Macroeconomic aggregates (GDP, unemployment, inflation, etc.).
  • Classification of macroeconomic models.

Subject 2. Market of goods and services (IS)

  • The demand for goods.
  • The determination of production in equilibrium.
  • Investment equal to savings.
  • Fiscal policies.

Topic 3. Financial markets (LM)

  • The demand for money.
  • The determination of the interest rate.
  • Two ways to examine macroeconomic balance.

Subject 4. The markets of goods and services and financial together: The model IS-LM

  • The IS curve.
  • The LM curve.
  • Joint analysis of the IS and LM curves.
  • Fiscal policy and monetary policy.
  • The IS-LM model and the liquid trap.

Topic 5. Expectations

  • Changes in economic policies derived from expectations.
  • Expected inflation, expected productivity, expected taxes, etc.

Item 6. The labor market (medium term)

  • The determination of wages.
  • Pricing.
  • The natural unemployment rate.
  • Women in the labor market

Item 7. Aggregate analysis: the OA-DA model

  • The aggregate offer.
  • Aggregate demand.
  • The balance in the short and medium term.
  • The effects of monetary policy.
  • The effects of fiscal policy.

Item 8. Solow model.

  • The consumption function.
  • The accumulation of capital.
  • Population growth.
  • The Carbon Fund for a Sustainable Economy (FES-CO2)

Evaluation system

Evaluation system and percentages

  • Continuous assessment: 40% (group work; oral presentation, activities, exercises, case studies and portfolio). 
  • Final exam 60% (recoverable)

Students must pass each part of the course separately to pass the entire course (score more than 5 out of 10 in each item).

Recoveries

Students who have failed the subject will have the right to retake the final exam. It is necessary to have a 5/10 in the make-up exam so that it is weighted with the rest of the assessment marks.

A student who has not appeared in the first call CANNOT appear in the recovery.

REFERENCES

Basic

MANKIW, Gregory N. (2020), “Macroeconomics”. Published by Antoni Bosch; Tenth Edition, Barcelona.

BLANCHARD, O., A. Amighini, & F. Giavazzi (2017) “Macroeconomics”. Publisher: Pearson Education; Seventh Edition, Madrid. 

Complementary

DORNBUSCH, R., Fischer, S., & Startz, R. (2018). Macroeconomics. McGraw Hill. 13th Edition.

Azmat, G., & Petrongolo, B. (2014). Gender and the labor market: What have we learned from field and lab experiments ?. Labor Economics, 30, 32-40.