Academic Year/course:
2023/24
432 - Joint Law - Business Administration and Management Programme
30610 - Macro-economics I
Syllabus Information
Academic year:
2023/24
Subject:
30610 - Macro-economics I
Faculty / School:
109 - Facultad de Economía y Empresa
Degree:
432 - Joint Law - Business Administration and Management Programme
ECTS:
6.0
Year:
2
Semester:
Second semester
Subject type:
Compulsory
Module:
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1. General information
Macroeconomics I deals with the construction of models that attempt to represent the aggregate functioning of national economies
The subject and its expected results respond to the need to train students in the area of Macroeconomics for the development of their work as graduates. In addition, the subject Macroeconomics I lays the foundations for the correct use of the subject Macroeconomics II.
These approaches and goals are aligned with the Sustainable Development Goals (SDGs) of the United Nations Agenda 2030 Specifically, the activities planned in the subject will contribute to the achievement of goal 4, which aims to ensure inclusive, equitable and quality education and promote learning opportunities.
2. Learning results
In order to pass this subject, the student must demonstrate sufficient knowledge of the fundamental macroeconomic concepts and the interrelationships that occur in the short term between the basic aggregate variables of a closed economy . This knowledge will be verified through the assessment and diagnosis of specific situations of a country and the expected effects of the application of specific economic policies.
The student, passing this subject, will be able to:
Identify the relevant agents, assets, flows and prices in any aggregate economic system.
Describe the aggregate processes of resource allocation, concretized in the mechanisms of production, income distribution and economic stabilization to which the functioning of markets.
Identify the nature, limits and consequences of flexibility and rigidity of markets, especially the labor market, on the aggregate behavior of economies.
To clearly differentiate financial, nominal and real behaviors of aggregate economic systems.
Anticipate the effects of economic policy instruments on the behavior of the main markets and on the mechanisms of production and income distribution.
3. Syllabus
Part 1: Introduction and basic concepts:
Concept and Scope of Macroeconomics
Basic Aggregate Magnitudes: The elements of the model
Part 2: The short term:
The Goods Market.
Financial markets
Short-term equilibrium with constant prices: Model IS-LM
Part 3: Complete short-term model:
Short-term equilibrium with variable prices: Model OA-DA
4. Academic activities
The sequence of the different activities throughout the term will be communicated by the teacher responsible in class at the beginning of the teaching period and, if applicable, will be published on the web page of the subject. The planning of the class hours of the subject is as follows:
Master classes: 30 hours
Practical classes: 30 hours
Personal Study: 86 hours
Assessment tests. 4h
In principle, the teaching methodology and its assessment is planned to be based on face-to-face classes . However, if circumstances so require, they may be carried out online.
5. Assessment system
Assessment activities:
1.- Assessment by midterm.
2.- Final test of first and second summons.
Evaluation and grading criteria
1. Assessment by midterm: it will consist of two tests with test questions, essay questions, and/or the resolution of theoretical-practical exercises . The subject will be considered passed if its average (out of 10 points) is equal to or higher than 5 points and in none of them has obtained a grade lower than 3.5 points. Otherwise, the student will be considered as not submitted through this channel
2.- Final test: those who do not opt for the evaluation by midterm, do not pass the course by means of the midterm evaluation or wish to improve their grade, may take the final exam with the best of the grades obtained prevailing.
It will consist of a set of test questions, essay and/or resolution of theoretical and practical exercises.
The assessment in the second call will be carried out by means of a global test similar to the exam mentioned above.