Knowledge: K-1. Advanced knowledge and understanding of the processes of economic, social and political change, as well as the structures that make up societies (markets, families, institutions) from an analytical, methodological and empirical point of view. K-4. Knowledge of comparative analysis and historical analysis applied to the main scientific contributions in Social Sciences. K-5. Knowledge of the internal logic of a scientific publication, examining the expository clarity, as well as the consistency between theory, analytical strategy, indicators, results and conclusions. K-11. Knowledge of the Economic History models to understand the processes of historical change and long-term economic development. Skills: S-1. Being able to synthesize the main theories and empirical contributions in one or more contemporary debates from an interdisciplinary perspective. S-4. Ability to select and apply the method of comparison or historical analysis to the study of a political, economic or social phenomenon. S-5. Ability to organize and express ideas clearly and unambiguously and to support theoretical arguments on a topic based on a critical analysis of the literature. S-11. Apply the knowledge acquired in the evaluation, formulation and criticism of economic policies within the framework of different types of capitalism. Competences: C-1. Being able to apply knowledge on the existing theoretical and empirical debates in an original development of one's own ideas in an academic or applied research context. C-4. Ability to select cases and apply the comparative method and/or historical analysis when giving an empirical answer to a research question within the framework of applied or academic research. C-5. Ability to identify the strengths and weaknesses of scientific publications on a study area and to justify the progress in the frontier of knowledge that is intended to be achieved in the research project. C-11. Being able to apply theoretical knowledge and methodological advances in a particular subject in the development of a research paper in the area of Economic History.

1. Scarcity and pure exchange. Microeconomics and Macroeconomics. Normative economy and positive economy. Opportunity cost and comparative advantage. 2. The function of demand. Marginal utility and individual demand. Aggregate demand. Movements and displacements of demand. 3. The supply curve. Marginal costs and supply of the product by the individual company. Aggregate supply. Movements and displacements of the supply curve. Elasticity of demand and elasticity of supply. 4. Market equilibrium. Efficiency and equity in the market: the consumer's surplus and the producer's surplus. (a) Partial and general equilibrium. (b) Balance and efficiency in pure exchange economies. (c) First and second theorem of welfare. (d) Balance and efficiency in production economies. 5. Market intervention and welfare effects: price controls, quantity controls, taxes and subsidies. 6. Market failures I: Imperfect competition (monopoly, oligopoly and monopolistic competition). Asymmetric information: moral hazard and adverse selection. 7. Market failures II: Externalities and public goods. (a) Public responses to externalities. (b) Private responses to externalities. (c) Coase theorem.

Training activities: AF1 - Theory class AF3 - Theoretical-practical class AF5 - Tutorials AF6 - Individual student work Teaching methodologies: MD1 - Presentations in class by the teacher with the support of computer and audiovisual media, in which the main concepts of the subject are developed. MD2 - Critical reading of texts recommended by the subject teacher: Press articles, reports, manuals and/or academic articles. MD4 - Presentation and discussion in class, under the teacher's moderation, of topics related to the content of the subject, as well as practical cases MD5 - Preparation of work and reports individually or in groups