TecnoCampus Foundation
eCampus
University Business
eCampus

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General information

Subject type: Mandatory

Coordinator: Jesus Ezequiel Martínez Marín

Trimester: Second term

Credits: 4

Teaching staff: 

Ivette Fuentes Molina

Teaching languages

  • Spanish
  • English

Spanish (80%), English (20%)

Skills

Specific skills

  • Identify the basic economic concepts, as well as the microeconomic and macroeconomic functioning of the markets

  • Select and use quantitative instruments for decision making and contrasting economic hypotheses

Description

The subject Analysis of the Economic and Social Environment is part of the introduction to the fundamentals of macroeconomic analysis. The aim of the subject is to offer a view of the functioning of the economy in the markets of goods and services and in the financial markets. The purpose is for the student to acquire a rigorous and up-to-date view of the main problems and perspectives of macroeconomics.

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

  • Policy changes derived from expectations
  • Expected inflation, expected productivity, expected taxes etc

Item 6. The labor market (medium term)

  • The determination of wages
  • The determination of prices
  • 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

Percentage

Continuous evaluation

30% (non-refundable): Oral presentation of the final work, activities, exercises, case studies, etc.

Final group work

10% (recoverable)

Final exam

60% (recoverable)

Students will be required to pass each part of the course separately to pass the entire course (taking more than a 5 out of 10).

 

Recoveries

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

A student who has not applied for the first call CANNOT apply for recovery.

  • Competence in the Acquisition of Knowledge will be assessed through a written examination of test-type questions.
  • The competence related to the Application of Knowledge will be evaluated by means of presentations of the exercises and / or works that allow to observe directly the realization of the task entrusted or of the degree of ease of the student.
  • Competence in Research will be assessed through individual assignments, commentary on readings, presentation of exercises and practice notebooks.
  • Competence in Communication and Competence in Autonomy will be assessed through individual assignments, commentary on readings, presentation of exercises and practice notebooks.

 

REFERENCES

Basic

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

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

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.