TecnoCampus Foundation
eCampus
University Business
eCampus

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General information

Subject type: Mandatory

Coordinator: Maria Dolors Celma Benaiges

Trimester: Second term

Credits: 4

Teaching staff: 

Ivette Fuentes Molina

Academic year: 2025

Teaching course: 1

Languages ​​of instruction

  • Spanish
  • English

Spanish (80%), English (20%).

Check the schedules of the different groups to find out the language of instruction, although the material can be in any of the three official languages ​​of the UPF.

Competencies / Learning Outcomes

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

Presentation of the subject

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 where we can make mistakes and learn without having to suffer the prejudices of 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)

 

Activities and evaluation system

Evaluation system  

Percentage

Seminars

Seminar 1: 5%. Seminar 2: 5%. Seminar 3: 15% (The evaluation of the seminars is not recoverable). Total 25%.

Final work  

 Final project 25% (recoverable). Within the evaluation of the final project, 10% of the grade will be considered through the evaluation of global citizenship competence (CCT3). 

Final exam

 50% (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).

Any form of academic fraud will be sanctioned in accordance with the center's assessment regulations. If signs of fraud are detected, including the improper use of generative artificial intelligence tools, the subject's teaching staff may call the student for an individual interview with the aim of verifying their authorship.

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.

Bibliography

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

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

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