Contactar Esade

Economía II (GED60001)

General information

Type:

 BAS

Curs:

 1,2

Period:

 S semester

ECTS Credits:

 5 ECTS

Teaching Staff:

Group Teacher Department Language
Sec: A Josep Comajuncosa Ferrer Economía, Finanzas y Contabilidad ESP

Group Teacher Department Language
Sec: B Juan Pedro Aznar Alarcón Economía, Finanzas y Contabilidad ESP

Group Teacher Department Language
Sec: C Juan Pedro Aznar Alarcón Economía, Finanzas y Contabilidad ESP

Group Teacher Department Language

Workload distribution

-Classroom activities: 40% of credits
-Guided activities: 20% of credits
-Independent study: 40% of credits

COURSE CONTRIBUTION TO PROGRAM

The Economics II course enables students to learn to analyse the macroeconomic situation of countries. The aim is to provide students with the knowledge they need to analyse the pros and cons of applying different economic policies. For example, this course enables students who go on to study Fiscal Law the macroeconomic consequences of changes in said policies. The course content can also permit connecting Public Law and international relations.

Course Learning Objectives

This class contributes to students' comprehensive training. The aim is to equip students with the capacity to evaluate economic policy alternatives, both in terms of profits as well as its consequences for equity. They will also develop their understanding of the general functioning of the economy, the interrelationships between the different variables and the interpretation of texts and economic graphs. By the end of this course, students should be able to carry out a basic macroeconomic analysis of a country as well as understand an economic article on macroeconomics with a mid level of difficulty.

Standard subject format:
1. Be able to calculate key macroeconomic indicators and interpret them.
2. Analyse GDP components from the demand-side perspective and identify the existence of macroeconomic imbalances.
3. Carry out simple models such as the IS-LM model and those of an economy and be able to analyse the consequences of fiscal and monetary policies.
4. Familiarise themselves with the interpretation of economic information and the search for information in the most important economic websites: INE, Bank of Spain, Eurostat and World Bank.

Extended subject format:
1. Introduce macroeconomic analyses in an open economy context.
2. Understand macroeconomic equilibriumand the consequences economic policies have on the aggregate demand and aggregate supply model.
3. Introduce the debate on income distribution inequality.
4. Debate on the origins, consequences and solutions to the 2008 financial crisis.

Competences

6. Strategic thought, systematic thought

Relation between Activities and Competences

6
Group assignments  
Mid-term exam  
Final exam  
Class participation  

CONTENT

1. TOPIC 1. INTRODUCTION TO MACROECONOMICS

1.1. Macroeconomics and its aims.
1.2. Key macroeconomic indicators.
1.3. Macroeconomic changes in Spain and the Euro Zone.
1.4. Analysis of GDP components.

2. TOPIC 2. PUBLIC BUDGETS AND FISCAL POLICY

2.1. The role of the public sector in the economy.
2.2. Public income.
2.3. Public expenditures: most important costs in Spain.
2.4. The income-expense model and multiplier effect of fiscal policy.
2.5 Public deficits and debt and their consequences

3. TOPIC 3. THE FINANCIAL SYSTEM AND MONETARY POLICY

3.1. Money and financial assets: demand, supply and equilibrium.
3.2. The Central Bank and monetary policy.
3.3. The Euro Zone and monetary policy.
3.4. The effects of monetary policy: quantitative easing (QE) in the U.S. and in Europe

4. SUBJECT 4. INTRODUCTION TO MACROECONOMIC MODELS

4.1. The IS-LM model.
4.2. Fiscal policies in the IS-LM model.
4.3. Monetary policies in the IS-LM model.

5. TOPIC 5: MACROECONOMIC TOPICS


5.1. Macroeconomics in an open context: exchange rates.
5.2. Introduction to the aggregate demand and aggregate supply model.
5.3. Supply policies.
5.4. The debate on inequality.
5.5 Introduction to the financial crisis: causes, consequences and economic policy responses

Relation between Activities and Contents

1 2 3 4 5
Group assignments          
Mid-term exam          
Final exam          
Class participation          

Methodology

ASSESSMENT

ASSESSMENT BREAKDOWN

Description %
Group assignments 20
Mid-term exam 20
Final exam 50
Class participation 10

Assessment criteria

To pass the course, students need to earn a minimum mark of 5 out of 10 on the final exam. Attendance is compulsory, and students who fail to attend more than 10% of sessions will not be able to sit the final exam.

Final exam: 50% of the final mark
Mid-term exam: 20% of the final mark
Team project: 20% of the final mark
Participation and attitude in class: 10% of the final mark.

Bibliography

Macroeconomics a European perspective. Oliver Blanchard y otros autores.
Editorial Pearson.
ISBN-13: 9780273771685

Introducción a la Economía. Macroeconomía. Paul Krugman y Robin Wells
Editorial Reverté
ISBN: 9788429126327

Timetable and sections

Group Teacher Department
Sec: A Josep Comajuncosa Ferrer Economía, Finanzas y Contabilidad

Timetable Sec: A

From 2019/2/8 to 2019/5/3:
Each Friday from 10:45 to 12:15. (Except: 2019/4/19)
Each Friday from 9:00 to 10:30. (Except: 2019/4/19)

Group Teacher Department
Sec: B Juan Pedro Aznar Alarcón Economía, Finanzas y Contabilidad

Timetable Sec: B

From 2019/2/5 to 2019/4/30:
Each Wednesday from 11:15 to 12:45. (Except: 2019/4/17)
Each Tuesday from 13:15 to 15:15. (Except: 2019/4/16)

Group Teacher Department
Sec: C Juan Pedro Aznar Alarcón Economía, Finanzas y Contabilidad

Timetable Sec: C

From 2019/2/4 to 2019/4/29:
Each Monday from 11:30 to 13:00. (Except: 2019/4/15 and 2019/4/22)
Each Wednesday from 13:00 to 15:00. (Except: 2019/4/17)

Group Teacher Department

Timetable Sec: D