Universitat Internacional de Catalunya
Introduction to Economy
Teaching staff
By appointment with the professor.
Introduction
In this course, we will study concepts and methods that are applied to decision-making and problem-solving in different economic areas. We will approach the decision-making process from different areas within the company and study their economical consequences for the company, especially those that are related to economic balance.
Objectives
The objective of this course is to transmit technical knowledge, while at the same time, having a strong practical orientation that can be used by students in their future careers. The objective is to develop the students’ capacity to interpret and resolve problems and issues that can be found in companies, treating these problems with rigor and improving the decision-making procedure. This is done by becoming familiar with the use of appropriate tools to analyse and find solutions to these problems. This will be done mainly through the use of appropriate case studies.
Competences/Learning outcomes of the degree programme
- E26 - Ability to read and write texts in one's own language and other languages, as well as transcribe, summarise and categorise pertinent information.
- G02 - To lead, cooordinate and form part of interdisciplinary work teams.
- G07 - To know how to apply and adapt to new technologies in processes of cultural management, production and dissemination.
- G11 - Ability to work in an international context.
Learning outcomes of the subject
Syllabus
1. THE ECONOMIC ORGANISATION. Characteristics and main elements. The Balance principle. The company as an economic agent. Economic benefit. Organisational patterns. Formal and informal economic structures.
Material
Cas EUROPE INSURANCE europeaninsurance.doc
Cas EL MUSEO DE ARTE museodearte.caso.doc
M. Friedman The Social Responsability ... friedman1970thesocialresponsibilityofbusinessistoincreaseitsprofits.docx
L'empresa com organització humana. Dimensió explícita i implícita.
2. ORGANIZATIONAL ECONOMICS. The Equlibrium principle. Economic language. Some economic management instruments. Budgets and Balances.
3. INCOMES AND COSTS. Types of costs. Differential costs, incomes and benefits. Fixed and variable costs. Opportunity cost.
4. ECONOMIC BALANCE. The concept of Contribution Margin. The Break-even point. Operational risk.
5. PRICE AND PRODUCTION DECISIONS. Full and excess capacity decisions. Operational leverage.
6. INVESTMENTS. The time value of money. The interest rate. The role of Central Banks. Inflation rate. NPV and IRR.
7. DECISION-MAKING IN ECONOMICS. The concept of ‘Rational decision’. Elements of a decision problem. Assessment and action plans. Uncertainty in decision-making. The value of information. Uncertainty and Risk. Expected monetary value.
Materials
Case Electrónica electronica.doc
Quo vadis quovadis.cas.doc
8. THE MARKET. Definition of economic sector. Competition. The "Prisioner's dilemma". Trust in decision-making.
Material
Case La decisión de Inglaterra ladecisiondeinglaterra.doc
9. PRODUCTION. Productivity. Work capacity. Work systems.
10. SALARIES. Content of a salary policy. Criteria for determining the salary. Nominal wage. Market salary. Design and analysis of salary policies. Payroll.
Case Eurocultura eurocultura.cas.doc
11. CONTROL SYSTEMS. Economic indicators. Production control. Deviation analysis.
Case Editnova editnova.doc
Teaching and learning activities
In person
Throughout the course, two types of procedures will mainly be used.
1. Presentation of the theory corresponding to each topic in class by the professor.
2. Analysis and discussion of examples of practical cases for each topic.
To take advantage of the class it is completely necessary to come to class very well prepared.
| TRAINING ACTIVITY | HOURS | COMPETENCES |
|---|---|---|
| E24 G03 G04 G07 G14 G18 G24 G30 |
Evaluation systems and criteria
In person
- Class Participation 40%
- Mid -course exam 10%
- Final Exam 50%
Bibliography and resources
Basic Readings
-Ariño, M.A. y Maella, P. 2009. Iceberg a la vista: principios para tomar decisiones sin hundirse. Empresa Activa, Barcelona.
-Pastor, A. 2015. La ciencia humilde: Economía para ciudadanos. Editorial Crítica, Barcelona. (4ª edició).
-Pérez López, J.A., Fundamentos de la dirección de empresas, ed. Rialp, Madrid, 1994.
-Porter, M., Estrategia competitiva. Técnicas para el análisis de los sectores industriales y de la competencia, ed. Cecsa, México, 1980.
- Raiffa, H., Introductory Lectures on Choices under Uncertainty, Addison Wesley Publ., Massachusetts. 1968.
- Simon, H.A., Administrative Behavior, The Free Press, New York. 1976.
- Tugores, J. 2015. I després de la crisi, què?, Lleonard Muntaner Editors, Barcelona (existex edició castellana d'aquest llibre).
Complementary Lectures
- Bastons, M., Tomar decisiones. La inevitable cuestión ¿éxito o fracaso?, Ed. Ariel, Barcelona, 2004.
-García-Duran, J.A. 2005. Introducción a la Economía: iniciativa y bienestar. Editorial Ariel, Barcelona. (2ª edició).
-Rosanas, J.M., et a., Contabilidad de costes para toma de decisiones, Ed. Brouwr de Desclée, Bilbao, 1990.
- Tugores, J. 2010. Crisis: lecciones aprendidas ... o no. Editorial Marcial Pons-Fundación Privada Centro de Estudios Internacionales., Barcelona.