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General information |
Course unit name: Introduction to Economics
Course unit code: 366704
Academic year: 2025-2026
Coordinator: Manuel Costa Valles
Department: Department of Economics
Credits: 6
Single program: S
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Estimated learning time |
Total number of hours 150 |
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Face-to-face and/or online activities |
60 |
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(With the exception of the GIE group.) |
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- Lecture with practical component |
Face-to-face |
45 |
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- Problem-solving class |
Face-to-face |
15 |
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Supervised project |
40 |
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(With the exception of the GIE group.) |
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Independent learning |
50 |
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Competences / Learning outcomes to be gained during study |
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Capacity for learning and responsibility (capacity for analysis, synthesis, to adopt global perspectives and to apply knowledge in practice, and capacity to take decisions and adapt to new situations). |
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Concern for sustainability (capacity to assess the social and environmental impact of actions taken in a particular setting and capacity to adopt integrated and systemic approaches). |
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Capacity to identify and understand economic institutions and how they work. |
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Capacity to manage and allocate resources in the private and public sectors. |
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Capacity to analyse organizations and the environment in which they operate. |
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Ability to produce critical analyses of economic theories and models. |
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Learning objectives |
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Referring to knowledge — Understand the basic principles of economics. — Learn to interpret economic data. — Develop a reflective and critical intellectual structure towards socio-economic phenomena. |
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Teaching blocks |
1. Introduction to economics
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1.1. Economics as a science
1.2. Microeconomics and macroeconomics
1.3. Basic economic principles
1.4. The frontier of production possibilities
1.5. Circular flow
1.6. Specialization and exchange
1.7. Absolute advantage and comparative advantage
1.8. Positive economy vs. regulatory economy
2. Supply and demand
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2.1. The competitive markets
2.2. Demand. Demand curve
2.3. Supply. Supply curve
2.4. Supply-demand balance
2.5. Excess supply and demand
2.6. Supply and demand curve shifts
2.7. Price mechanism for resource allocation
2.8. Consumer and producer surpluses
2.9. Market efficiency
2.10. Applications of supply and demand: taxes and subsidies
2.11. Price controls: maximum and minimum prices
2.12. International trade and tariffs
3. Company, markets and State
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3.1. Market failures and state intervention
3.2. Externalities and public goods
3.3. Production and costs: the short and long term
3.4. Types of market: perfectly competitive markets and imperfectly competitive markets
4. Basic macroeconomic data (I): measurement of a country’s income
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4.1. Gross domestic product (GDP)
4.2. The three ways to calculate GDP
4.3. From GDP to personal disposable income
4.4. Real and nominal GDP
4.5. GDP deflator
4.6. GDP and welfare
5. Basic macroeconomic data (II): measurement of the cost of living and the unemployment rate
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5.1. Inflation: concept and classes
5.2. Consumer Price Index (CPI)
5.3. GDP and CPI deflator
5.4. Type of unemployment
5.5. The unemployment rate and other indicators of the labour market
6. Analysis of the open economy and macroeconomic objectives
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6.1. Balance of payments: concept and structure
6.2. Exchange rate: concept and systems
6.3. Macroeconomic objectives and economic policy
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Teaching methods and general organization |
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Teaching mode: face-to-face. |
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Official assessment of learning outcomes |
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The mark awarded for continuous assessment is based on the following activities: a) continuous assessment exercises (CAE); b) continuous assessment tests (CAT) and c) a final examination.
Examination-based assessment Students who do not sit any of the continuous assessment tests are automatically entered for single assessment. |
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Reading and study resources |
Check availability in Cercabib
Book
MANKIW, N. Gregory. ; TAYLOR, M. P. (2017): Economía. Paraninfo,
BERNANKE, Ben. ; FRANK, Robert (2007) 3ª ed : Principios de Economía. McGraw Hill,
MOCHON, Francisco. (2009) 6ª ed : Economía. Teoría y Política. McGraw Hill,
HORTALÁ, Joan. ( 2010) : Teoria econòmica: macroeconomia. Ed. Vicens Vives. (cap 1-3)
KRUGMAN, Paul ; WELLS Robin, ; GRADDY, Kahtryn. (2015) 3ªed : Fundamentos de economía, Barcelona: Ed. Reverté.
GALLEGO, Juan Ramón. ; ESCRICHE, José. ; BANYULS, Josep. [et al] : (2001) : Elementos básicos de economía. Un enfoque institucional. Valencia. Tirant lo Blanch
MARRON, Donald. (2011) : 50 teorías económicas sugerentes y desafiantes. Blume
BLANCO SANCHEZ, JM . (2014) 6ª ed. : Economía. teoría y práctica. Madrid: Mc Graw Hill.
KRUGMAN, Paul ; WELLS Robin, ; GRADDY, Kahtryn. (2013) : Fonaments d’economía, Barcelona: Ed. Reverté.
Video, DVD and film
Modern economic issues, editat per Insight Media
Ref: #64AX455
Social Sciences: What is economics?, editat per Insight Media
Ref: #64AX518
Web page
CORE Econ. Economics for a changing world
| Complementary economics teaching project that includes e-books and other online materials (https://www.core-econ.org/ebooks). |