Macroeconomics

Specific knowledge and capacities: 1. Understanding and compression of the economics of the EU. 2. Capabilities for and evaluation of the economic environment of companies in the EU and international context. 3. Capability to apply the theoretical models of regional integration and the new economic geography to real word problems 4. Problems solving Skills and aptitudes: 1. EU data base and documentation search. 2. Team working 3. Critical reasoning 4. Written and oral communication.

K4: To understand the functioning of the economy as the efficient allocation of scarce resources, including the importance of equity. K5: Know quantitative and qualitative research techniques, and be able to discern which are the most appropriate to apply in the field of economics. K6: Comprehend the economic and social impact of various public policies on different agents and in diverse socioeconomic contexts. K7: Understand the economic variables that regulate the economy and govern the behaviour of agents. K8: Understanding economic institutions K9: Identify the economic, political, and social framework for the activities of various economic, political, or social agents. K10: Understand the fundamental elements of the economic environment from the perspective of different theories and various economic agents. S1: To plan and organize team work making the right decisions based on available information and gathering data in digital environments. S2: Exploit information by interpreting relevant data, avoiding plagiarism, and adhering to academic and professional conventions within the field of study, with the ability to evaluate the reliability and quality of the information. S3: Apply the knowledge acquired in the degree program to rigorously, accurately, and scientifically identify socioeconomic processes and propose potential solutions. S4: Manage and develop autonomous learning within the field of Economics. S5: Formulate, debate, and defend critical and ethical arguments related to Economics. S6: Identify, collect, interpret and manage relevant information on economic issues, using the appropriate concepts and methodologies of analysis. S7: Design economic and social programs to address the needs of economic agents. S8: Formally representing economic decision-making processes S9: Derive relevant economic information from the data, and be able to process it to answer the questions of interest S10: Prepare advisory reports for economic agents relevant to decision-making. S11: Describe and analyze economic problems within a specific social context. S12: Model and quantitatively interpret specific economic issues C1: Develop interpersonal skills such as initiative, responsibility, conflict resolution, negotiation, etc., which are required in the professional domain. C2: Communicate effectively to different audiences knowledge, methodologies, ideas and solutions in the field of study. C3: Independently develop and defend a problem within the disciplinary scope of the degree, proposing well-founded solutions through the application of the knowledge, skills, tools, and strategies acquired or developed throughout the degree program. C4: Solve economic models of interest from both theoretical and numerical perspectives.

Topic 1. Economic theory of integration Forms of regional economic integration. Objectives of economic integration. Economic integration and economic development. New trends in protectionism. Topic 2. Trade policy. The effect of tariffs. Trade creation. Trade diversion. Welfare effects. Non-static effects of trade policy: the case of the European Union. Topic 3. European Integration: Institutions and phases. Overview. From the European Communities to the European Union. European Union Institutions. An overview of the process of European Integration. Topic 4. European Integration: Crises and reforms. Crises and reforms of the Eurozone: 2009-2015. Covid-19. Ukraine. Economic Governance. The Spanish Case. Topic 5. European Monetary Integration History of Monetary Integration. The Optimum Currency Areas model. Inflation in the Euro Area. The Maastricht criteria, the ERM-II, and the Stability and Growth Pact. The ESCB and the European Central Bank. Topic 6. The Common Agricultural Policy Objectives of the CAP: Stabilization and income support. Traditional instruments of the CAP: Common Market Organizations. CAP reforms. Topic 7. Regional Policy The European Structural and Investment Funds. The beta-convergence hypothesis. ESIF impact on the long run. Structural problems. Topic 8. Electricity Markets and Environmental Policy. EU environmental policy. The EU electricity market. Discussions for the reform of the EU electricity policy. Appendix: Regulatory frame.

The students knowledge competencies and aptitudes will be acquire through masterly lessons, by problems solving handed to the TA and reviewed during the practical lessons and by the students problems solving in the blackboard during the practical lessons. Although the skills will be worked out by the students individually in the week before each practical lesson.