Universidad Pública de Navarra - Nafarroako Univertsitate Publikoa

Module/Subject matter

Applied Economics.

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General proficiencies

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.

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Specific proficiencies

The specific proficiencies to be working throughout Introduction to Economics are the ability to:

Express fluently by speaking and writing in social and economic contexts, and participate in team work.

Make use of information and communication technologies in their future professional careers.

SP01 Understand economic institutions are as a result and application of theoretical or formal representations about how the economy works.

SP04 Use professional criteria for economic analysis, preferably those based on the handling of technical instruments.

SP08 Identify and anticipate relevant economic problems in relation to the allocation of resources.

SP09 Contribute rationality to the analysis and description of any aspect of economic reality.

SP10 Evaluate the consequences of different action alternatives and select the best ones given the objectives.

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Learning outcomes

R_EC_01. Define resource scarcity and describe the most relevant resource allocation models in economics.
R_EC_02. Define and interpret prices in a market economy.
R_EC_03. Use the fundamentals of production theory to represent and interpret short-term supply in a market for a good or service
concrete.
R_EC_04. Define efficiency and optimality in economics and apply these concepts to different market structures.
R_EC_05. Analyze economic stabilization policies: monetary, fiscal and supply.

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Methodology

The learning and teaching methodology is based on student-centred and enquiry-based techniques that would combine lecturing on students with the creation of small and cooperative learning environments. We would exploit showcase empirical questions (called "evidence-based economics features"), data analysis, experiments, poster sessions and model design. The contents would be structured around a single textbook.

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Languages

English.

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Evaluation

This final grade can be increased up to 5% depending on active participation during the course. 

*Reassessment opportunity: A person that fails to demonstrate a good attainment of the learning outcomes on the basis of the above summative assessments would have the opportunity to demonstrate the attainment of the learning outcomes and the reassessment would consist on a resist written exam only.

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Agenda

Topic 1: Introduction

Topic 2: Demand, Supply and Equilibrium

Topic 3: Elasticities and Surplus

Topic 4: Perfect Competition and the Invisible Hand

Topic 5: Externalities

Topic 6: The Government in the Economy: Taxation and Regulation

Topic 7: The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates

Topic 8: Employment and Unemployment

Topic 9: The Monetary System

Topic 10: Short-run Fluctuations and Macroeconomic Policy

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Bibliography

Access the bibliography that your professor has requested from the Library.

Acemoglu D., D. Laibson and J. A. List. 2017. Economics 2^nd Ed. Pearson.

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