Course participants will be exposed to economic thinking and learn some elements of how modern economic markets work.
In this way, the course contains a first part in which the behavior of consumers and companies is analyzed through microeconomics. It analyses the markets for goods and services and the policies that affect these markets.
The second part of the course will address macroeconomic concepts such as domestic production, employment, inflation, and interest rates. This second part analyses national economies and models that affect growth in the long term and fluctuations that occur in the short term. Therefore, this part will study the role of market regulation at national and European level, monetary and fiscal policy, among others.
The main objective of the course is to familiarize students with the methods of economic and financial analysis and their applications in decision making.
All this implies a proper understanding of the following concepts:
1. The elements from which you will have to choose (budget, technology and opportunity costs) and the process of choosing between them (preferences and maximization of profit).
2. How the different agents interact in terms of market, demand, supply and equilibrium.
3. How to calculate and evaluate economic outcomes such as the social optimum, Pareto criterion, market failures (externalities) or public goods.
4. Define and determine macroeconomic concepts (GDP, CPI, Employment, Interest Rates) in order to establish comparisons of economic development and well-being between the different countries of origin of the students
- Manage economic documentation.
Analyze and interpret the indicators that characterize the economic activities of entities and countries.
Individually solving simple economic problems and being able to share and discuss with other students with economic arguments.
Know the stock market with simulations that allow you to invest for a period and have the experience of analyzing your results in real time.
- Develop common skills and abilities
Groupwork with exposition is the student's scientific developments with the presentation of an economic concept and then with the defesa of an economic theory of a winner of the Nobel Prizes in economics.