Universitat Internacional de Catalunya

A Firm's Economic Environment

A Firm's Economic Environment
3
14585
2
First semester
OB
Anàlisi Econòmica
Macroeconomics
Main language of instruction: Catalan

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.

Teaching staff


By appointment. In order to make an appointment, please request one by writing to: mmartinr@uic.es

Introduction

Businesses exist within the economic environment and, consequently, macroeconomic variables and public policies affect them enormously. Understanding the decision-making process of rational individuals help managers navigate the business cycles.

 

Pre-course requirements

It is advisable, but not necessary, to have studied Macroeconomics 1.

Objectives

This course is an attempt to explain economy-wide phenomena in terms of the behavior of rational economic agents and their interactions. In other words, this is a macroeconomics course built on microfoundations.

Competencies

By competences we mean the personal abilities that lead to excellent performance of the work carried out in a work position in a specific organization. The different competences manifest themselves in normal daily activities, allowing the tasks to be carried out successfully. Given that we are not talking of theoretical knowledge but personal skills, competences are therefore something complementary to professional theory and knowledge. Typically, competences demand  an active and consistent effort from the individuals.

  • 21 - To be familiar with the main theories in the fields of microeconomics and macroeconomics.
  • 23 - To be familiar with and know how to use microeconomic and macroeconomic analysis terminology.
  • 27 - To be able to read and understand literature on economic and business issues.
  • 34 - To develop the ability to predict situations and anticipate events, as well as be able to recognise and interpret an economic situation within a specific context.
  • 56 - To be able to create arguments which are conducive to critical and self-critical thinking.

Learning outcomes

Ability to think logically and build economic arguments.

Ability to anticipate the effects of public policies.

Ability to explain economic phenomena in terms of the maximizing behavior of agents and market imperfections.

 


Syllabus

Session 1: Introduction

Session 2: Consumption-leisure I

Session 3: Consumption-leisure II and Problem Set 1

Session 4: Consumption-saving I

Session 5: Consumption-saving II

Session 6: Problem Set 2

Session 7: Midterm exam

Session 8: The Ricardian Equivalence

Session 9: Credit Frictions

Session 10: Social Security

Session 11: Problem Set 3

Session 12: Unemployment I

Session 13: Unemployment II

Session 14: Problem Set 4

Session 15: Q&A

 

Teaching and learning activities

In person



As with any other discipline belonging to the field of economic theory, the study of Macroeconomics must be done gradually. In the learning process, comprehension and capacity of analysis are more important than memory. Experience leads us to conclude that students who work on a regular basis get the best results. In accordance with that, the evaluation method adopted here requires attending lectures and encourages continuous study. 

Evaluation systems and criteria

In person



Participation in class: 5%

Midterm exam: 35%

Final exam: 60%

 

Bibliography and resources

Macroeconomics (6th Edition) (The Pearson Series in Economics). Williamson, Stephen D. Published by Pearson (2017).

ISBN 10: 013447211X