1. General information
Course:
INTERMEDIATE MACROECONOMICS
Code:
54315
Type:
CORE COURSE
ECTS credits:
6
Degree:
329 - UNDERGRADUATE DEGREE PROGRAMME IN BUSINESS MANAGEMENT AND ADMINISTRATION (TA)
Academic year:
2022-23
Center:
15 - FACULTY OF SOCIAL SCIENCES AND INFORMATION TECHNOLOGIES
Group(s):
60
Year:
2
Duration:
C2
Main language:
Spanish
Second language:
English
Use of additional languages:
English Friendly:
Y
Web site:
Bilingual:
N
Lecturer:
ISAAC ARANDA RENEO
- Group(s):
60
Building/Office
Department
Phone number
Email
Office hours
Facultad de Ciencias Sociales y Tecnologías de la Información/Despacho 2.2
ANÁLISIS ECONÓMICO Y FINANZAS
926051572
isaac.aranda@uclm.es
2. Pre-Requisites
Not established
3. Justification in the curriculum, relation to other subjects and to the profession
This subject is included in the module Economic Analysis, belonging to the part of Macroeconomics. It will be covered during the second term corresponding to the second course of “Business Direction and Administration”. It deepens the analysis of concepts and models that students learned in the subject entitled Introduction to Economics, during the first year of the degree. Additionally, it develops new concepts and tools that students will use in other courses related to economic policy, Spanish and international economics and finances. All of them will be used in the final dissertation that all students must present to end their degree. Finally, this subject gives the students the needed foundations for the development of their professional career, because it enables them to understand the economic environment: behaviour of economic agents, factors that explain the evolution of aggregate variables and their influence on corporations economic outcomes.
4. Degree competences achieved in this course
| Course competences | |
|---|---|
| Code | Description |
| E07 | Understand the economic environment as a result and application of theoretical or formal representations on how the economy works. To do so, it will be necessary to be able to understand and use common handbooks, as well as articles and, in general, leading edge bibliography in the core subjects of the curriculum. |
| E11 | Know the workings and consequences of the different economic systems |
| E13 | Ability to make logical representative models of the business reality |
| G01 | Possession of the skills needed for continuous, self-led, independent learning, which will allow students to develop the learning abilities needed to undertake further study with a high degree of independence. |
| G03 | Develop oral and written communication skills in order to prepare reports, research projects and business projects and defend them before any commission or group of professionals (specialised or non-specialised) in more than one language, by collecting relevant evidence and interpreting it appropriately so as to reach conclusions. |
| G04 | Ability to use and develop information and communication technologies and to apply them to the corresponding business department by using specific programmes for these business areas. |
| G05 | Capacity for teamwork, to lead, direct, plan and supervise multidisciplinary and multicultural teams in both national and international environments so as to create synergies which benefit organisations. |
5. Objectives or Learning Outcomes
| Course learning outcomes | |
|---|---|
| Description | |
| Listen, negotiate, convince and defend arguments both in oral and writing ways. | |
| Work autonomously and with personal initiative. | |
| Work out problems in creative and innovative ways. | |
| Search for information in order to analyze it, interpret is meaning, synthesize it and communicate it to others. | |
| Know the main theories and approaches of economic analysis to be able to explain the behavior of economic agents at the micro and macroeconomic levels, as well as the imperfections that may arise in different sectors as a consequence of the economic process. | |
| Additional outcomes | |
| Description | |
| 1. Obtain and interpret, using demand-side theoretical models, the macroeconomic equilibrium (income level and interest rate) in a closed economy. 2. Obtain and interpret, using demand-side theoretical models, the macroeconomic equilibrium (income level and interest rate) in an open economy. 3. Obtain and interpret, using the aggregate demand-aggregate supply model, the short run and long run macroeconomic equilibrium (income level, prices and interest rate) in a closed economy. 4. Obtain and interpret, using the aggregate demand-aggregate supply model, the short run and long run macroeconomic equilibrium (income level, prices and interest rate) in an open economy. 5. Identify the main determinants of the long-term equilibrium in the labour market, and discuss the equilibrium unemployment rate. 6. Analyse the short run trade-off between inflation and unemployment. 7. Critical discussion on the role of institutions in macroeconomic models. 8. Analyse the same macroeconomic problem (income determination, inflation, unemployment) using alternative economic thought schools. 9. Understand and evaluate the impact of different shocks on the macroeconomic outcomes using alternative models. 10. Use statistical sources to evaluate alternative models. 11. Write and present reports on the situation of an economy. 12. Understand the social implications of macroeconomic topics and the importance of some ethic attitudes (generic transferable competence). 13. Contribute efficiently in small working groups (generic transferable competence). 14. Use ICT to find information, prepare reports and present them (generic transferable competence). |
|
6. Units / Contents
-
Unit 1: Macroeconomic facts and the main macroeconomic problems.
-
Unit 2: Financial sector and its interrelation with real sector.
-
Unit 3: The open economy.
-
Unit 4: Aggregate demand-aggregate supply model: the short-run.
-
Unit 5: Aggregate demand-aggregate supply model: the long-run
-
Unit 6: Ampliation and critical review of foundations of macroeconomics.
7. Activities, Units/Modules and Methodology
| Training Activity | Methodology | Related Competences (only degrees before RD 822/2021) | ECTS | Hours | As | Com | Description | |
| Class Attendance (theory) [ON-SITE] | Lectures | E07 E11 E13 G01 G03 G04 G05 | 1.25 | 31.25 | N | N | ||
| Class Attendance (practical) [ON-SITE] | Combination of methods | E07 E11 E13 G01 G05 | 0.87 | 21.75 | Y | N | ||
| Writing of reports or projects [OFF-SITE] | Combination of methods | E07 E11 E13 G01 G03 G04 | 1 | 25 | Y | N | ||
| Study and Exam Preparation [OFF-SITE] | Self-study | E07 E11 E13 G01 G03 G04 | 0.8 | 20 | N | N | ||
| Individual tutoring sessions [ON-SITE] | Combination of methods | E07 E11 E13 G01 G03 G04 | 0.08 | 2 | Y | N | ||
| Writing of reports or projects [OFF-SITE] | Group Work | E07 E11 E13 G01 G03 G04 G05 | 0.92 | 23 | Y | N | ||
| Workshops or seminars [ON-SITE] | Combination of methods | E07 E11 E13 G01 G03 G04 G05 | 0.08 | 2 | Y | N | ||
| Study and Exam Preparation [OFF-SITE] | Self-study | E07 E11 E13 G01 | 0.88 | 22 | N | N | ||
| Final test [ON-SITE] | Assessment tests | E07 E11 E13 | 0.12 | 3 | Y | Y | ||
| Total: | 6 | 150 | ||||||
| Total credits of in-class work: 2.4 | Total class time hours: 60 | |||||||
| Total credits of out of class work: 3.6 | Total hours of out of class work: 90 | |||||||
As: Assessable training activity Com: Training activity of compulsory overcoming (It will be essential to overcome both continuous and non-continuous assessment).
8. Evaluation criteria and Grading System
| Evaluation System | Continuous assessment | Non-continuous evaluation * | Description |
| Test | 70.00% | 100.00% | It includes a final exam, and it can include other partial exams as well. |
| Other methods of assessment | 30.00% | 0.00% | Portofolio, working in group and other activities. |
| Total: | 100.00% | 100.00% |
According to art. 4 of the UCLM Student Evaluation Regulations, it must be provided to students who cannot regularly attend face-to-face training activities the passing of the subject, having the right (art. 12.2) to be globally graded, in 2 annual calls per subject , an ordinary and an extraordinary one (evaluating 100% of the competences).
Evaluation criteria for the final exam:
-
Continuous assessment:Continuous evaluation based on:
a) Quantity and quality of practises. A minimun numbrer of fulfilled assigments are required.
b) Value-adding participation in theoretical and practical sessions.
c) Teamwork, with valuation based on contents, use of sources of information, structure of the written essay and oral presentation.
d) Final exam. A minimum score of 4 (out of 10) is required as a first requisite to pass the subject. This exam will include text questions, theoretical questions, numerical exercises and practical applications.
Final numerical qualification between 0 and 10 (5 is the minimum to pass the subject). -
Non-continuous evaluation:Those students who choose the non-continuous assessment must communicate it within the deadline and following the mechanism established by the teaching staff. These students must carry out or deliver during the final exam some additional activities concerning the continuous assessment made over the other students. The content of this extra part will be made known to the students with sufficient notice. It will be necessary to reach 5 points (out of 10) in the final test to be able to pass the subject.
Specifications for the resit/retake exam:
Those students who do not pass the subject in the ordinary exams will have the opportunity of recovery those activities that were not qualified as ¿not recoverable¿. The teacher will indicate during the course what activities can be recovered.
Specifications for the second resit / retake exam:
Final exam, including theoretical and practical parts.
9. Assignments, course calendar and important dates
| Not related to the syllabus/contents | |
|---|---|
| Hours | hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 31.25 |
| Class Attendance (practical) [PRESENCIAL][Combination of methods] | 21.75 |
| Writing of reports or projects [AUTÓNOMA][Combination of methods] | 25 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 20 |
| Individual tutoring sessions [PRESENCIAL][Combination of methods] | 2 |
| Writing of reports or projects [AUTÓNOMA][Group Work] | 23 |
| Workshops or seminars [PRESENCIAL][Combination of methods] | 2 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 22 |
| Final test [PRESENCIAL][Assessment tests] | 3 |
| Global activity | |
|---|---|
| Activities | hours |
10. Bibliography and Sources