Universitat Internacional de Catalunya
Economics
Teaching staff
Introduction
INTRODUCTION
Economics may not be the most relevant branch of knowledge in the Advertising and Public Relations degree program, around which the others revolve, but understanding basic economic concepts is still fundamental, and for two reasons.
First, since Advertising and Public Relations are a fundamental part of any marketing plan, students must understand market mechanisms, price formation, and the types of goods and services targeted by their campaigns in order to design them effectively. For example, how do these products and services react (their sales) when economic variables that affect them change? What does it mean to sell exclusively (monopoly) or to compete against hundreds of identical products (perfect competition)? How do taxes affect things (on product sales, on personal wealth, on businesses), and much more? The first part of the course will be dedicated to this: Microeconomics.
On the other hand, whether we like it or not, no one can escape the effects of Economic Policy. A very important part of the legislative activity of governments in developed societies consists of economic measures, which have a direct impact on all economic agents (individuals, businesses, and governments themselves). Those who claim to be uninterested in politics (plain and simple, without qualification) should know that they suffer its consequences to the same degree as those who are interested. Economic policy, which encompasses the economic decisions made by governments, strongly influences our daily lives and therefore deserves to be studied. Macroeconomics will be the focus of the second part of this course.
A student who has a solid understanding of both microeconomics and macroeconomics will be able to design better advertising and public relations campaigns and make better decisions for their personal life.
Pre-course requirements
PRE-COURSE REQUIREMENTS
This course has been designed to be a sound introduction to the very fundamentals of Economics to grasp what real economy is about. Students will be supplied with extensive materials on the topic written by the professor itself on a regular basis.
It isn’t difficult from a mathematical point of view. Rather, it is intended to develop the critical-thinking skills of participants through wide and intense exposure to the current body of Economics literature, models, theories and common wisdom. Class attendance isn’t compulsory from a legal point of view but is highly recommended since sessions are intended to be as interactive as possible on good understanding that rigour is a must. Recommended readings will be suggested when appropriate along with other resources. Self-study is discouraged when it is intended to be the sole means to approach the topic.
Objectives
OBJECTIVES
To introduce the student to the understanding of the domain of economics as a social theory
To introduce the student to the main analytical instruments used in economic analysis
To introduce the student to the main conclusions derived from economic analysis and promote students' knowledge of their organizational and political implications for businesses.
To allow students to participate in debates on economic issues.
Competences/Learning outcomes of the degree programme
- 70 - Knowledge and mastery of economic data, statistics and graphs
- 71 - Knowledge and mastery of principle economic concepts.
- 77 - The ability and capacity to take responsibility for the communication area of an organisation
- 78 - The ability and capacity to establish a plan of communication
Learning outcomes of the subject
On completion of the course, the student must be able to:
• Define the main concepts and describe the models and methods used in economic analysis
• Formulate problems described in everyday language in the language of economic modelling
• Apply and use the main economic models used in economic analysis to solve these economy and business problems
• Assess the potential and limitations of the models and methods used in economic analysis.
Syllabus
Syllabus:
Both Microeconomics and Macroeconomics will be addressed.
Microeconomics will be the first part of the course. It addresses how individuals and businesses conduct and benefit from efficient production and exchange and how individuals can best coordinate and cooperate with each other.
The second part will be Macroeconomics. It is the big picture. It deals with the behaviour of an overall economy, which encompasses markets, businesses, consumers, and governments.
1. Economics: General Considerations.
2. Specialization & Trade: The Production Possibility Boundary.
3. Demand & Supply. The Market Mechanism.
4. Interfering with Markets: Price Controls, Quotas, Subsidies & Taxes.
5. Elasticity.
6. International Trade.
7. Benefits, Costs, and Profits.
8. Consumer Decision-Making.
9. Inputs, Output, and Costs.
10. Perfect Competition.
11. Imperfect Competition.
12. Unemployment & Inflation.
13. Money, Central Banks, and Monetary Policy.
14. Financial Instruments, Financial Markets & Banking.
15. Interest Rates, Exchange Rates and the Foreign Exchange Market.
Teaching and learning activities
In person
METHODOLOGY AND TRAINING ACTIVITIES.
The course is taught in person and attendance is required to make the most of the course.
Lectures are combined with active participation by students in the many discussions on the topics covered.
| TRAINING ACTIVITY | ECTS CREDITS |
| Coaching. Monitoring how students learn the content of the subject, either individually or in groups. In the coaching sessions, mistakes will be corrected, queries answered, and exercises and activities to achieve the established objectives will be suggested. | 0.6 |
| Lectures. In lectures, lecturers/professors not only transmit content or knowledge, but also, and above all else, attitudes, motivation, skills and values, etc. They also ensure that participants can express their opinions and arguments to the other students. | 2.2 |
| Seminar. This activity will consist of taking an in-depth look at specific up-to-date topics in a monographic manner-in some cases these topics will have been debated socially-, via active work in small groups. | 1.0 |
| Meeting Point. Meetings will be organised with notable people from the professional and scientific fields or the international field, and students. These sessions will take the form of conferences, work sessions, discussions, or interviews, etc. | 0.6 |
| Practical workshop. A highly practical working activity, where students can acquire skills that are practical or also theoretical (intellectual skills, logical skills, critical skills, intellectual learning skills, study skills, quoting skills, etc). | 1.0 |
| Lab. Working groups that combine theory and practice. The aim of these is not to undertake already known techniques, but instead to make progress that is both theoretical and technical. These Lab sessions will culminate in the creation of a professional or semi-professional product. | 0.6 |
Evaluation systems and criteria
In person
EVALUATION SYSTEM.
Method: Continuous assessment: 5 or 6 exams throughout the course, without prior announcement or regular frequency, during normal class hours. The final course grade will be the arithmetic mean of all grades obtained. The lowest grade will always be dropped.
Example (for 6 exams). Hypothetical student, grades: 7; 4; 8; 0 (did not attend the exam that day); 9; 6. Final course grade: (7 + 4 + 8 + 9 + 6) / 5 = 34/5 = 6.8. The student knows their overall grade at all times. It is always calculated as this arithmetic mean.
Exams will not be repeated under any circumstances: conflicts with student commitments (except for court summons and hospitalization).
Individual exam reviews will not be conducted. Exam questions will be explained in the class following the corresponding exam.
Attitude and participation in class are taken into account. Classes begin 10 minutes after the scheduled start time, and entry is not permitted after that time.
1. Students taking the course for the first time: Continuous assessment is mandatory.
Students who do not attend at least 80% of the classes will fail the course in the first exam call, regardless of any overall grades accumulated up to that point. The same will apply if they miss two exams in the series. Therefore, any student in this situation will fail the entire course and must retake it in the second official exam call.
2. Repeat students:
Continuous assessment is optional in this case. To be eligible for the continuous assessment system, students must attend at least 50% of all classes in the course. A repeat student who opts for the continuous assessment system and then, after a certain period, begins to attend irregularly (failing to meet the 50% attendance requirement) will fail the course in the first exam call. Similarly, missing two exams in the continuous assessment series will also result in failing the course on the first attempt. Therefore, the student would have to retake the entire course in the second official call.
Students repeating the course who wish to opt for the continuous assessment system must submit a written request to the professor within 15 days from January 26, 2026. Repeat students are strongly encouraged to opt for continuous assessment for their own benefit.
Bibliography and resources
Economics. Lipsey and Chrystal 12th Ed.
Economics. Krugman and Well, 4th Ed.