Universidad de Jaén

 

Introduction to Economics.

Block I: INTRODUCTION

 

Topic 1. Introduction to economic science

1.1.- How individuals make decisions?

1.2.- How individuals interact?

1.3.- How the economy as a whole Works?

1.4.- The model of the production possibilities frontier

1.5.- Distinction between Microeconomics and Macroeconomics

 

Block II: MICROECONOMICS

 

Topic 2. Market forces: supply, demand, equilibrium and elasticity

2.1.- Markets and competition

2.2.- The demand

2.3.- The Supply

2.4.- The balance between supply and demand

2.5.- The elasticity

 

Topic 3. The company: costs and production

 

3.1.- What are the costs?

3.2.- Production and short-term costs

3.3.- Long-term costs: economies and diseconomies of scale

 

Topic 4. Competitive equilibrium

 

4.1.- Basic assumptions of competitive markets

4.1.1. Characteristics

4.1.2. Total income, median income and marginal income

4.2.- Maximization of profits and the supply curve of the competitive company

4.2.1.- The marginal cost curve and the bidding decision of the competitive firm

4.2.2.- Short and long term production decision

4.3.- The supply curve of a competitive market

 

Topic 5. Efficiency and market failures

 

5.1.- Efficiency: consumer surplus, producer surplus, total surplus and maximization of well-being in the market equilibrium

5.2.- Market failures: externalities and market power

5.2.1.- Externalities

5.2.2.- Market power: monopoly, oligopoly and monopolistic competition

 

Block III: MACROECONOMICS

 

Topic 6. Panoramic view of the macroeconomic. Variables and concepts

6.1.- Income and expenditure of the economics

6.2.- The measurement of gross domestic product

6.3.- The components of GDP

6.4.- GDP and economic welfare

 

Topic 7. Production and economic growth

7.1.- Economic growth in the world

7.2.- Productivity: its role and its determinants

7.3.- Economic growth and economic policy

7.4.- Long-term growth

 

Topic 8. Savings, investment and financial system

8.1.- Financial institutions

8.2.- Savings and investment

8.3.- The market for loanable funds

8.4.- The meaning of money and the central bank

8.5.- Banks and the money supply

 

Topic 9. Unemployment and inflation

9.1.- Identification of unemployment

9.2.- Theories that explain unemployment

9.2.1.- The job search

9.2.2.- Legislation on the minimum wage

9.2.3.- Trade unions and collective bargaining

9.2.4.- Theory of efficiency wages

9.3.- Concept and causes of inflation

9.4.- Inflation costs

 

Topic 10. Macroeconomics in an Open Economy

10.1. International movements of goods and capital

10.2. Real and nominal exchange rates

10.3. Purchasing power parity

The general objective of this course is to provide to students a solid foundation in general economics, both in principles and conceptual applications.

Theoretical or large group lectures are twice as long as practical classes, and it is recommended that the student use at home twice as much time usually used in face-to-face activities for a good assimilation of the subject.

The lectures will be devoted to exposing the theoretical aspects of the different subjects. The practical classes will be used to solve typical exercises of the relations proposed to the student, so that the student can solve the rest by himself and deliver them through the virtual teaching platform within the established period. The practical classes will also be dedicated to the exhibition of the works that the students have to carry out.

Students with special educational needs should contact the Student Attention Service (Servicio de Atención y Ayudas al Estudiante) in order to receive the appropriate academic support

The student's final grade will be the result of the addition of the notes obtained in a written test of theoretical-practical conand in a series of programmed activities during the course.

 

The written test of theoretical and practical contents will represent 70% of the final grade, being necessary to obtain a minimum score of 4 out of 10 to pass the exam. The competences of contextualization of current problems from the point of view of economic analysis and the knowledge and application of basic concepts of economy as well as the capacity for analysis and synthesis will be evaluated.

 

In addition, the student should carry out scheduled activities during the school year: presentation of individual / group work, self-assessment tests and / or participation in class. These activities will have a maximum valuation of 30% of the final grade.

 

The skills of contextualizing current problems from the point of view of economic analysis, knowledge and application of basic concepts of economics, as well as the ability to make decisions, analysis and synthesis will be evaluated.