Checking date: 22/03/2023

Course: 2023/2024

Economics for Business
Master in Marketing (Plan: 279 - Estudio: 269)

Coordinating teacher: BARROSO LUDEÑA, ALICIA

Department assigned to the subject: Business Administration Department

Type: Compulsory
ECTS Credits: 3.0 ECTS


Requirements (Subjects that are assumed to be known)
Not required.
Skills to be acquired General skills *CG2: Effective knowledge of other disciplines / techniques used in Marketing and Market Research. Specific skills: *CE1: To understand the fundamental concepts of microeconomics and business economics, as well as the application of these instruments to understand the environment in which an economic-business organization operates. *CE10: Analysis, evaluation and decision making on pricing (traditional methods, and scientific techniques) LEARNING OUTCOMES The student distinguishes between the basic concepts of economic equilibrium under perfect competition and in contexts of market power. The student identifies the impact of economic activities, and analyzes the economic and organizational effects derived from contractual relationships between agents. The student identifies the relationship between companies and the institutional framework in which they carry out their activities.
Skills and learning outcomes
Description of contents: programme
Part I: Principles of microeconomics. Consumers and firms behavior in competitive markets: supply and demand. Market equilibrium under perfect competition. Imperfect competition: monopoly oligopoly, monopolistic competition. Multi-attribute models. Game-theoretic notions and their role in industrial economics. Part II: Economics of the firm. Decision-making: rationality and cooperation. Specialization and Exchange: Transaction costs and incomplete contracts. Coordination of economic activities: boundaries between firms and markets. Vertical integration, hybrid forms and relational contracts. Incentives in organizations: internal company structure, distribution of power and incentives, agency theory. Ownership and control of the company: moral hazard and incentive systems efficient. Companies and institutions.
Learning activities and methodology
TRAINING ACTIVITIES OF THE SUBJECT AF3 Theoretical practical classes AF6 Group work AF7 Individual student work Activity code / No. of total hours / No. of face-to-face hours /% face-to-face AF3 105 105 100 AF6 145 0 0 AF7 125 0 0 TOTAL SUBJECT 375 105 TEACHING METHODOLOGIES MD1 Lectures in the teacher's class supported by computer and audiovisual media, in which the main concepts of the subject are developed and the bibliography is provided to complement the students' learning. MD2 Critical reading of texts recommended by the professor of the subject: Sentences and resolutions, press articles, reports, manuals and / or academic articles, either for later discussion in class, or to expand and consolidate the knowledge of the subject. MD3 Resolution of practical cases, problems, etc.¿ raised by the teacher individually or in groups MD4 Presentation and discussion in class, under the moderation of the teacher, of topics related to the content of the subject, as well as practical cases MD5 Preparation of works and reports individually or in groups
Assessment System
  • % end-of-term-examination 40
  • % of continuous assessment (assigments, laboratory, practicals...) 60
Calendar of Continuous assessment
Basic Bibliography
  • G.Mankiw and M.Taylor. Economics 2nd Ed.. Cencage Learning. 2011
  • Hal Varian. Intermediate Microeconomics, 8th Ed. . W.W. Norton & Co.. 2010

The course syllabus may change due academic events or other reasons.