Other languages of instruction: English, Spanish
If the student is enrolled for the English track then classes for that subject will be taught in the same language and also in Spanish.
Future graduates should be able to understand and elucidate the meaning of the economic and social environment in which companies operate. This course provides the appropriate analytical framework for this.
The objective of the course is to explore the defining characteristics of the Spanish economy in its most recent situation, considering the perspective of its structure and the economic policies that explain Spain’s history. This will involve providing students with the tools and knowledge of the reality of the Spanish economy, offering better comprehension and allowing them to analyse and evaluate the main problems raised in today’s world.
The course will allow students to discuss in much more detail the various events and activities surrounding the Spanish economy as published in the international and local media.
- 04 - To understand and know how to use financial terms within a business framework.
- 07 - To be familiar with the basic features of the Spanish economy, both in terms of structure and economic policies.
- 10 - To identify long-term economic growth factors and understand the impact of globalisation.
- 15 - To acquire a solid knowledge of the main taxation models at a state, regional and local level.
- 19 - To analyse quantitative financial variables and take them into account when making decisions.
- 22 - To be able to identify the nature and behaviour of producers, consumers and investors.
- 24 - To be able to carry out a financial, social and historical analysis of the environment in which a company operates.
- 27 - To be able to read and understand literature on economic and business issues.
- 31 - To develop the ability to identify and interpret numerical data.
- 32 - To acquire problem solving skills based on quantitative and qualitative information.
- 33 - To be able to search for, interpret and convey information.
- 35 - To analyse time series.
- 41 - To be able to descriptively summarise information.
- 45 - To be able to work with academic papers.
- 46 - To acquire the ability to understand and participate in conferences and lectures in an academic context.
- 50 - To acquire the ability to relate concepts, analyse and synthesise.
- 51 - To develop decision making skills.
- 52 - To develop interpersonal skills and the ability to work as part of a team.
- 54 - To be able to express one’s ideas and formulate arguments in a logical and coherent way, both verbally and in writing.
- 56 - To be able to create arguments which are conducive to critical and self-critical thinking.
- 57 - To acquire skills which favour reading comprehension.
- 64 - To be able to plan and organise one's work.
- 65 - To acquire the ability to put knowledge into practice.
- 66 - To be able to retrieve and manage information.
SUBJECT 1. BASIC CHARACTERISTICS OF THE SPANISH ECONOMY
Introduction. Main indicators of economic activity: Gross Domestic Product (GDP). Gross National Product (GNP). Added value, income. Domestic demand: consumption, investment. Sectoral structure. Inflation. Unemployment. Macroeconomic indicators. Natural and demographic characteristics. Conceptual definitions and quantitative comparisons.
SUBJECT 2. EXTERIOR ECONOMIC RELATIONS
Structure of the balance of payments. Components: current account, capital account and financial account. Interpretation and structure. External balance and exchange rate.
SUBJECT 3. THE SPANISH LABOUR MARKET
Main features. Active population, employed population, unemployed population (Labour Force Survey), registered unemployment (INEM), participation rate and unemployment rate. Institutional framework of the Spanish labour market.
SUBJECT 4. PUBLIC SECTOR
General characteristics of Spanish government finances: dimension indicators, evolution and expenditure and revenue composition, budget deficit and public debt. Funding.
SUBJECT 5. FINANCIAL SYSTEM AND SAVINGS
Characteristics of the financial system. The banking system. Financial markets. Structure of savings. Money market. Interest rates.
SUBJECT 6. COMPETITIVENESS AND PRODUCTIVITY OF THE SPANISH ECONOMY
Concept, determining factors and measurement of competitiveness. Labour productivity and total productivity of factors. Concept and measurement.
SUBJECT 7. SECTORAL AND TERRITORIAL ANALYSIS
Agricultural, industry and services: the productive sectors development, specialisation and liberalisation. The role of the company. Business dimensions. Funding and profitability. Regional growth dimensions, relative position of the Spanish regions.
SUBJECT 8. THE ECONOMIC AND MONETARY UNION
International economic integration: concept and phases. Economic and Monetary Union. Advantages and disadvantages. Stability pact.
SUBJECT 9. SOURCES OF ECONOMIC GROWTH
Investment: composition and determinants. Investment in infrastructure, investment in education and human capital, innovation and technological change.
SUBJECT 10. RECENT EVOLUTION AND OUTLOOKS OF THE SPANISH ECONOMY
The main strands of development of the economy since the beginning of democracy until EMU. Changes in the economic policy model, Economic Stability Programme. The economic crisis and the economic outlook for the next decade.
Teaching and learning activities
Throughout the course different types of learning activities are used. The first part will be classroom activities, lectures where the main concepts and content will be presented, and the second part will be practical classes where problems are given and resolved. Secondly, students will spend the remaining time solving problems with autonomous learning and studying basic references.
Students will receive the course material through the website (practical work, statistical information, material evaluation, etc).
Evaluation systems and criteria
The course evaluation will consist of a written examination on the content of the syllabus, to be held on the official specified dates.
However, a percentage of the evaluation will be determined by the results obtained from participation in class on discussions on current news related to the specific topics of the program and carrying out two tasks on specific subjects from the syllabus or field research on the Spanish economy, to be indicated during the lectures given by the course leaders. These exercises will be brief and specific. They will be realised based on the specific course specific bibliography, basic Spanish economy statistical sources and internet resources.
The purpose of the course is to approach the reality of the economy covered by the programme and demonstrate the acquisition of sufficient knowledge of the concepts and comprehension of the programme content by means of projects, research and exercises comparing economic realities. These exercises will be presented briefly in class to demonstrate students’ ability to express themselves clearly and use the concepts involved correctly. These exercises may be carried out individually or in groups of two or three students.
Bibliography and resources
- Lecciones de Economía Española (16th Edition), José Luis García Delgado y Rafael Myro (Directores), Civitas, 2021
- Economía Española. Una introducción (6th Edition), José Luis García Delgado y Rafael Myro (Directores), Civitas, 2021
- Economía Española (2nd Edition), José Vallés Ferrer (Director), Mc Graw Hill, 2014
- Economía Española (2nd updated Edition), Elvira Martínez Chacón (Coordinadora), Ariel Economía, 2009
- Economía Española, Jaime Requeijo y otros, Delta Publicaciones, 2006
WEBS OF STATISTICAL REFERENCE
- Instituto Nacional de Estadística (INE)
- Ministerio de Economía y Competitividad
- Bank of Spain
- La Caixa Research
- BBVA Research
- IDESCAT (Generalitat de Catalunya)
- Departament d’Economia i Coneixement (GENCAT)
- European Commission
- European Central Bank (BCE)
- Fondo Monetario Internacional (FMI)
- Banco Mundial
- OECD - UNESCO