TecnoCampus Foundation
eCampus
University Business
eCampus

What are you looking for?

General information

Subject type: Basic

Coordinator: Alex Araujo Batlle

Trimester: First term

Credits: 6

Teaching staff: 

Ivette Fuentes Molina

Teaching languages

Spanish (80%), English (20%)

Skills

Basic skills

  • CB1. That students have demonstrated knowledge and understanding in a field of study that is based on general secondary education, and is usually found at a level that, while supported by advanced textbooks, also includes some aspects. involving knowledge from the forefront of their field of study.

  • CB4. That students can convey information, ideas, problems and solutions to both specialized and non-specialized audiences.

  • CB5. That students have developed those learning skills necessary to undertake further studies with a high degree of autonomy.

Specific skills

  • CE1. Interpret basic economic concepts and economic reasoning, as well as microeconomic and macroeconomic functioning.

  • CE2. Define company policy in international environments and instill a global and international dimension in business.

  • CE3. Analyze and evaluate the financial statements, evaluate the economic performance and prepare financial reports.

  • CE4. Evaluate and define the personnel policies of a company or business organization, select work teams, define profiles and establish staffing needs.

  • CE5. Analyze business contexts, identify markets and customers, and establish marketing strategies through the use of advanced and innovative techniques.

  • CE6. Interpret legal regulations and institutional organization and manage business information.

  • CE7. Develop projects and proposals for innovative companies.

  • CE8. Organize the productive operations of the company.

  • CE9. Use mathematical tools and advanced statistical tools for decision making.

  • CE10. Recognize and understand the mechanisms of innovation and entrepreneurship and develop a business idea.

  • CE11. Analyze and evaluate the scientific-technological and economic environment, to look for innovative opportunities and establish necessary processes to adapt the organization.

  • CE12. Generate strategic skills considering the environment as a project.

  • CE13. Create connections between people, collaborators, and companies by connecting people who under normal circumstances would not match.

  • CE14. Identify emerging sectors and business innovation strategies.

  • CE15. Gather and interpret data to make judgments that include reflection on relevant business issues.

  • CE16. Communicate properly orally and in writing in at least one third foreign language.

  • CE2. Analyze the impacts generated by tourism in its economic, social and environmental aspects and provide innovative solutions.

  • CE3. Analyze the main political-administrative structures of tourism and interpret the legal framework that regulates tourism activities.

  • CE4. Turn an "empirical" problem into a research project and draw conclusions.

  • CE5. Apply a strong customer service orientation and handle communication techniques.

  • CE6. Evaluate the tourism potential and the prospective analysis of its exploitation through innovative management models.

  • CE7. Analyze, synthesize and critically summarize the economic-patrimonial information of the tourist organizations.

  • CE8. Direct different types of tourism entities defining objectives, strategies, commercial policies and managing financial resources.

  • CE9. Work in different cultural media, providing solutions to the different problems that arise.

  • CE10. Gather and interpret significant data to make judgments that include a reflection on relevant business issues and be able to prepare a document that allows the transmission of information or an innovative business proposal in the field of tourism.

  • CE11. Manage tourist tourist areas in accordance with the principles of sustainability.

  • CE12. Master the operating procedures of accommodation, catering and tourism intermediation companies.

  • CE13. Interpret the strategy, objectives and public instruments of tourism planning.

  • CE14. Recognize and apply information and communication technologies (ICT) in the different areas of the tourism sector.

  • CE15. Interpret a public plan in the field of tourism and the opportunities that arise for the private sector.

  • CE16. Plan and manage the human resources of tourism organizations.

  • CE17. Recognize details of the operation of destinations, tourist structures and their business sectors worldwide.

  • CE18. Understand the characteristics of cultural heritage management and be able to develop innovative initiatives for its enhancement as a tourist attraction.

  • CE19. Detect the needs for the technical planning of tourist infrastructures and facilities.

  • CE20. Communicate properly orally and in writing in at least one foreign language.

General competencies

  • CG1. Be able to work in a team, actively participate in tasks and negotiate in the face of dissenting opinions until reaching consensus positions, thus acquiring the ability to learn together with other team members and create new knowledge.

  • CG2. Be able to innovate by developing an open attitude towards change and be willing to re-evaluate old mental models that limit thinking.

  • CG3. Integrate the values ​​of social justice, equality between men and women, equal opportunities for all and especially for people with disabilities, so that the studies of Business Administration and Innovation Management contribute to to train citizens for a just, democratic society based on a culture of dialogue and peace.

  • CG2. Be able to generate ideas and solve problems, both individually and collectively.

  • CG3. Be able to generate ideas and solve problems, both individually and collectively.

Transversal competences

  • CT1. Communicate properly orally and in writing in the two official languages ​​of Catalonia.

  • CT2. Show willingness to learn about new cultures, experiment with new methodologies and encourage international exchange.

  • CT3. Show willingness to learn about new cultures, experiment with new methodologies and encourage international exchange.

  • CT4. Master computer tools and their main applications for ordinary academic and professional activity.

  • CT5. Develop tasks applying the acquired knowledge with flexibility and creativity and adapting them to new contexts and situations.

  • CT4. Demonstrate entrepreneurial leadership and leadership skills that build personal confidence and reduce risk aversion.

Description

Basic concepts of economic science, its fundamental principles and the operating guidelines that derive from it.

The aim of this class is to familiarize students with basic microeconomic concepts such as market, consumers, costs and benefits, supply and demand, among others.
Basic microeconomic mechanisms such as profit maximization, market equilibrium, and profit optimization within the course will be discussed and developed. The focus is on the role of government in the market economy with concepts such as taxes, price regulation and externalities.

This subject has methodological and digital resources to make possible its continuity in non-contact mode in the case of being necessary for reasons related to the Covid-19. In this way, the achievement of the same knowledge and skills that are specified in this teaching plan will be ensured. The Tecnocampus will make available to teachers and students the digital tools needed to carry out the course, as well as guides and recommendations that facilitate adaptation to the non-contact mode.

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.

 

Learning outcomes

  • Know and understand the basic concepts and principles of the functioning of contemporary economies -with special reference to the tourism sector- emphasizing the study of markets and their agents: companies, consumers, public administrations, and the interrelationships that exist between them.
  • Differentiate the various economic structures of the market and analyze their competitive strategy.
  • Analyze the microeconomic environment and evaluate the strategies of companies under their environment. Understand and apply the fundamental concepts and laws that govern the market economy: market demand and supply, equilibrium prices and quantities, elasticities, etc.
  • Master the mathematical aspects of economic and / or business problems for decision making.
  • Identify and interpret simple mathematical models applicable to economics.

Working methodology

Theoretical sessions MD1.

Lectures: Lectures based on the teacher's explanation in which all students enrolled in the subject attend.

MD5 directed learning.

Seminars: Face-to-face format in small work groups (between 14 and 40). These are sessions linked to the face-to-face sessions of the subject that allow to offer a practical perspective of the subject and in which the participation of the student is key.

Autonomous learning MD9.

Exercise and problem solving: Non-contact activity dedicated to solving practical exercises based on the data provided by the teacher.

MD11. Non-contact tutorials.

Students will have telematic resources such as e-mail and ESCSET intranet resources.

 

Contents

1. The concept and method in economics

1.1. What is economics.

1.2. Methodology of economics.

1.3. Normative economy and positive economy.

1.4. Applications.

1.5. Scarcity, choice and productive factors.

1.6. The frontier of production possibilities (FPP).

1.7. Opportunity cost.

1.8. Law of decreasing returns.

1.9. Microeconomics and macroeconomics.

1.10. Graphic representations in economics.

2. Specialization, exchange and money

2.1. Specialization and exchange. Market efficiency.

2.2. Absolute and comparative advantage.

2.3. Economies of scale.

2.4. Exchange and monetary economy: the functions of money.

3. Market mechanisms: supply and demand

3.1. The determinants of demand and its displacements.

3.2. The determinants of supply and their displacements.

3.3. The balance of the market.

3.4. The laws of supply and demand.

3.5. Applications of supply and demand analysis.

4. The elasticity of supply and demand

4.1. The elasticity of demand: price, substitution and income.

4.2. The elasticity of supply.

4.3. The elasticity of producers' income and consumer spending.

5. The theory of consumer choice.

5.1. The budget constraint.

5.2. Consumer preferences. The gender perspective in consumer behavior

5.3. Optimization in consumer choice.

5.4. Obtaining the demand curve.

6. The role of the state in the economy

6.1. The diversity of economic activities and economic agents.

6.2. Maximum and minimum prices (effective and ineffective).

6.3. Externalities (usually). Carbon markets

7. The company in a perfectly competitive market

7.1. Maximizing profits in a competitive company. 

7.2. Demand and marginal income of the company.

7.3. Optimal production and supply curve of the company in the short and long term.

7.4. Company response to variations in factor costs.

7.5. Answerable markets: entry and exit of companies; externalities.

8. Market power and pricing

8.1. The monopoly: inefficiency and social cost of the monopoly.

8.2. Price discrimination.

8.3. Bilateral monopolies and monopsons.

8.4. Vertical integration and transfer pricing.

8.5. Regulation of monopolies.

8.6. Absence of strategic behaviors (simultaneity of actions): Cournot's solution and Bertrand's solution.

8.7. Strategic behaviors (sequential actions): Stackelberg solution.

8.8. Joint profit maximization: collusion and cartel.

8.9. Barriers to entry.

9. Game theory and competitive strategy

9.1. Cooperation and conflict.

9.2. Alternative coordination mechanisms.

9.3. The institutional framework: property rights.

9.4. Nash equilibrium and Pareto optimums.

9.5. Nash's perfect balance in subplots.

 

Learning activities

Classes combine economic theory with empirical examples.

Attendance at all sessions is essential to understand the material of the subject. Attendance means active participation in face-to-face sessions and independent study outside the classroom.

During the term students will develop empirical work related to the microeconomic situation of the environment, simulating a real situation where theoretical knowledge will serve to meet the challenges of the work. 

The seminars are taught in person. These are sessions linked to the face-to-face sessions of the subject that allow to offer a practical application of the economic reality and in which the participation of the student is key to weigh the capacity to apply the theoretical concepts to the current economic frame.

Evaluation system

The final mark of this course will consist of the following compulsory elements:

Final exam: 50% (RECOVERABLE ONLY IF THE FINAL EXAM IS PRESENTED)

Group work (50%) divided into:

  • Written work of maximum 10 pages: 20% (RECOVERABLE)
  • Presentation of the written work at the end of the course: 10% (NOT RECOVERABLE)
  • Delivery of a set of exercises and participation: 20% (NOT RECOVERABLE)

It is essential to pass all parts of the course with a grade of 5 to pass the course. The final cut-off mark to pass the course will be a 5/10.

Students who do not take the final exam will not be able to take the resit exam.

The student will only be able to retake the final exam and not the parts of the continuous assessment.

REFERENCES

Basic

MANKIW, G. (2017) “Principles of Economics”. Published by CENGAGE Learning; 8th Edition, Boston.

Complementary

PARKIN, M. (2018) “Economics” Publisher: Pearson; 12ª Edition, Mexico. 

SAMUELSON, PA, NORDHAUS WD (2010). “Economy. With applications to Latin America ”. Published by McGraw Hill; Nineteenth Edition, Mexico.

Wang, W., & Kim, S. (2019). Lady first? The gender difference in the influence of service quality on online consumer behavior. Nankai International Business Review.