This course aims to encourage students for the understanding and expression of central ideas related to the functioning of the economic system in a complex society. The final aim is that this course enables students to: (i) READ news and reports on economic issues of growing interest in the social, economic and political environments; (ii) WRITE on these topics, using the economic method (including terminology, mathematical models and analysis); (iii) EXPRESS interpretation and opinion on economic issues by speaking in front of an audience.
The learning activities and methodology will include:
Master classes, oriented to the acquisition of theoretical knowledge. It is required that students have already read the corresponding chapter from any of the two reference books.
Seminar classes, oriented to the discussion and analysis of issues related to the theoretical topics in the course.
Problem solving classes, oriented to auto-evaluation of theoretical knowledge and to acquire additional abilities and skills.
Relationship between formative activities and proficiencies/learning outcomes
The master classes will consist on an exposition of the course topics by the instructor. The seminar and problem solving classes will require the active participation by the students.
Marks correspond to the outcome in a written final test with a weight of 100%. Nevertheless, when instructor considers it to be adequate, the weight of the written final test might decrease and, in that case, the remaining share will reflect the student’s behavior during the course.
This introductory course to Economics presents the main economic notions related to the functioning of the economic system in a complex society. After beginning with the definition of Economics due to Lionel Robins (namely, “Economics is the science which studies human behaviour as a relationship between ends and scarce means that have alternative uses”), we go on to examine individual (including persons and firms) and social decisions in various economic contexts, and from micro and macroeconomic perspectives.
Chapter 1. Introduction Chapter 2. On rational choice Chapter 3. Equilibrium notion Chapter 4. Negotiation and cooperation Chapter 5. Firms’ organization production Chapter 6. Equilibrium in competitive markets Chapter 7. Market failure and government Chapter 8. General equilibrium model Chapter 9. Price level in product market Chapter 10. Job market and involuntary unemployment Chapter 11. Monitoring macroeconomics trends and fluctuations Chapter 12. Classical doctrine of equilibrium Chapter 13. The Keynesian macroeconomic model Chapter 14. Political Economics and Economic Policy