Economía I (GED60063)
General information
Type: |
BAS |
Curs: |
1 |
Period: |
S semester |
ECTS Credits: |
5 ECTS |
Teaching Staff:
| Group |
Teacher |
Department |
Language |
| |
Juan Pedro Aznar Alarcón |
Economía, Finanzas y Contabilidad |
ESP |
Workload distribution
-Classroom activities: 40% of credits
-Guided activities: 20% of credits
-Independent study: 40% of credits
COURSE CONTRIBUTION TO PROGRAM
This course contributes to the programme by teaching students the basic foundations for the economic analysis of Law, the foundations for analysis of microeconomics and how markets function. We will analyse the different market structures a well as incentive theory and the problems associated with assymmetrical information.
Course Learning Objectives
This class contributes to students' comprehensive training by providing them with an appreciation of the different aspects of economics included in relevant laws and rulings. The course focuses on the study of how markets function and the different types of market structures we can find, as well as the effects of different regulatory frameworks on efficiency and equity in these markets.
Competences
| 4. Conveying information and/or knowledge |
| 6. Strategic thought, systematic thought |
Relation between Activities and Competences
|
4 |
6 |
| Exercises and analyses |
|
|
| Mid-term exam |
|
|
| Final exam |
|
|
CONTENT
1. SUBJECT 1. ECONOMICS AND LAW 1.1 Economics as a science
1.2 Relationship between Economics and Law
1.3 The importance of economic incentives
1.4 Economists' tools: An introduction to Games Theory
|
2. SUBJECT 2. THE MARKET AS A RESOURCE-ALLOCATION MECHANISM 2.1. The market as an allocation system
2.2. Market demand and determining factors
2.3. Market supply and determining factors
2.4. Market balance and balance dynamics
2.5. Intervention policies in the market
2.6. The housing market: an example of intervention
2.7. The job market and the effects of the legally established minimum wage
2.8. European agricultural policy and the effects of interventionism
|
3. SUBJECT 3. PROPERTY LAW 3.1. The meaning of property rights
3.2. The Coase Theorem
3.3. Private versus communal property
3.4. Externalities and their internalization
3.5. An example: emissions trading
|
4. SUBJECT 4. NON-COMPETITIVE MARKET STRUCTURES 4.1. Monopolies: effects on the level of well-being
4.2. Natural monopolies
4.3. Oligopolies: competitive vs. competitive strategies
4.4. Competition Law
|
5. SUBJECT 5. ECONOMIC ANALYSIS OF LAW 5.1. Public goods
5.2. Industrial and intellectual property
5.3. Economic analysis of contracts
5.4. Economic analysis of damages
5.5. Economics and Criminal Law
|
6. SUBJECT 6. FINANCIAL MARKETS 6.1. Introduction to financial markets
6.2. Financial markets and business growth
6.3. Doubt and risk
6.4. Asymmetric information
6.5. Problems with information in markets: the subprime crisis
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Relation between Activities and Contents
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1 |
2 |
3 |
4 |
5 |
6 |
| Exercises and analyses |
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| Mid-term exam |
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|
|
|
|
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| Final exam |
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Methodology
1) Class activities. The class is divided into two parts. In the first part, faculty will present the content of the corresponding topic in a manner that seeks to use examples, allowing students to interrelate Economics and Law. In the second part theoretical concepts will be addressed through:
- The completion of analytical comprehension exercises.
- Analysis of case studies that include: lawsuits with a clear economic component, analysis of public budgets.
- Analysis of economic news which may on occasions give rise to debates.
2) Ongoing assessment exercises. These consist of exercises similar to those undertaken in the second part of the classes. Each student will submit between 3 and 4 during the course.
ASSESSMENT
ASSESSMENT BREAKDOWN
| Description |
% |
| Exercises and analyses |
25 |
| Mid-term exam |
25 |
| Final exam |
50 |
Assessment criteria
Attendance is compulsory.
Students who miss more than 10% of the classes will not be assessed.
To pass the course, students must earn a minimum of 5 points out of 10 on the final exam.
Students who do not:
1. Pass the course during the FIRST SITTING OF THE EXAM, due to not attending class, not completing the set activities or copying them will not be able to RE-SIT THE FINAL EXAM and will therefore have to re-take the course again and complete the set activities specified by faculty
2. Have the level of required competences will be able to move on to the next year of the programme so long as they pass this course, but they will not be able to complete the final degree project without having acquired the required competence levels for the degree programme.
Bibliography
Law and Economics. Robert Cooter. Editorial Pearson. ISBN 0-321-20471-9
El análisis económico del derecho. Richard A. Posner. ISBN 968-15-5133-2
Principios de economía. F. Mochón. Mc Graw Hill. ISBN 84-481-4656-5
Microeconomía, séptima edición. Robert S Pyndick y Daniel L. Rubinfeld. Pearson-Prentice Hall. ISBN 978-84-8322-500-4
Timetable and sections
| Group |
Teacher |
Department |
| |
Juan Pedro Aznar Alarcón |
Economía, Finanzas y Contabilidad |
Timetable
From 2014/9/19 to 2014/12/19:
Each Friday from 11:00 to 12:30.
Each Friday from 9:00 to 10:30.
Wednesday 2015/1/28 from 10:00 to 13:00.
