Competencies and objectives

 

Course context for academic year 2024-25

This subject is a second year course in macroeconomics in the Undergraduate degree in Economics, being a continuation of the first year course Introduction to Macroeconomics.

It falls within the subject Economic Analysis.

The objective of this subject is to provide the student with the theoretical and empirical knowledge necessary to understand and analyze the economic fluctuations of a closed economy (without relations with the outside world). In this context, the main problems (inflation and/or unemployment) that economic authorities may face and the economic policy instruments at their disposal to stabilize the economy are explained. Finally, the short-term analysis is expanded to consider, in a simple way, the most basic aspects of an open economy.

 

 

Course competencies (verified by ANECA in official undergraduate and Master’s degrees) for academic year 2024-25

General Competences (CG)

  • CG8 : Analyse problems using critical reasoning, without prejudices, precisely and rigorously.
  • CG9 : Capacity to synthesise.

 

General Competences acquired at University of Alicante (CGUA)

  • CGUA3 : Capacity for oral and written communication.

 

Specific Competences (CE)

  • CE10 : Capacity to apply the knowledge and skills acquired to solve theoretical and applied economic problems.
  • CE11 : Analytical skills for developing theoretical frameworks that simplify study of the real economy and the capacity to set appropriate levels of abstraction when studying different economic questions.
  • CE3 : Bring a rational approach to the analysis and description of any aspect of economic reality.
  • CE5 : Issue expert reports on specific economic situations (international, national or regional) or on sectors of the same.
  • CE6 : Draft economic management projects at international, national or regional level.
  • CE8 : Identify the sources of relevant economic information and their content.
  • CE9 : Understand economic institutions as the result and application of theoretical or formal representations of how the economy works.

 

 

 

Learning outcomes (Training objectives)

  • To understand what is probably Keynes’ principal message in his General Theory: the links between an economy’s markets, which determine the behaviour and evolution of macroeconomic variables.
  • To understand the impact of government policies on macroeconomic variables, in both the short and medium terms.
  • To develop the ability to understand certain underlying microeconomic fundaments of macroeconomic variables.

 

 

Specific objectives stated by the academic staff for academic year 2024-25

  • To understand the main determinants of short-term economic fluctuations and the adjustment processes towards long-term equilibrium levels of the main macroeconomic variables.
  • To be able to explain the events that caused the recent international financial crisis and the great global recession through the use of the short-term model.
  • To be able to explain the macroeconomic context caused by the COVID-19 pandemic through the use of the short-term model.

 

 

General

Code: 35010
Lecturer responsible:
Guilló Fuentes, María Dolores
Credits ECTS: 6,00
Theoretical credits: 1,50
Practical credits: 0,90
Distance-base hours: 3,60

Departments involved

  • Dept: Economic Analysis
    Area: FOUNDATIONS OF ECONOMIC ANALYSIS
    Theoretical credits: 1,5
    Practical credits: 0,9
    This Dept. is responsible for the course.
    This Dept. is responsible for the final mark record.

Study programmes where this course is taught