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Course description

Competencies and objectives


Course context for academic year 2019-20

In this course you will learn economics principles by first participating in experimental classroom markets and then studying the related economic theory and applications. The subject of economics is ideally suited to an experimental approach. By participating in economic experiments, you will be able to observe economic principles in action. After you have participated in an experiment and recorded the results, I will present economic theories designed to explain what happened in the laboratory. With the data collected from the classroom experiments, you can discover how well or how badly each theory works in predicting the experimental outcome. With this motivation, theories come to life and once they seem real, they become interesting.



Course content (verified by ANECA in official undergraduate and Master’s degrees)

General Competences (CG)

  • CG3 : Capacity for self-learning.
  • CG5 : Capacity to take decisions by applying acquired knowledge to practical situations.
  • CG8 : Analyse problems using critical reasoning, without prejudices, precisely and rigorously.
  • CG9 : Capacity for synthesis.


General Competences acquired at University of Alicante (CGUA)

  • CGUA1 : Read and communicate in a foreign language in a professional environment, especially in English.
  • CGUA3 : Capacity for oral and written communication.


Specific Competences (CE)

  • CE1 : Contribute towards the correct management of resource allocation in both the private and public context.
  • 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.
  • CE12 : Be able to use the appropriate tools for the analysis, diagnosis and solution of economic questions and problems.
  • CE2 : Identify and anticipate relevant economic problems relating to resource allocation in general, in both the private and public context.
  • CE3 : Bring a rational approach to the analysis and description of any aspect of economic reality.
  • CE4 : Evaluate the consequences of different options for action and select the best one according to the objectives set.
  • CE9 : Understand economic institutions as the result and application of theoretical or formal representations of how the economy works.




Learning outcomes (Training objectives)

  • Use analytical reasonings to pose economic problems and resolve them.
  • Comprise the paper of the prices in the economy and the determination of these in the distinct types of markets.
  • Comprise the basic principles of the market through the analysis of the offer and the demand.
  • See the relation between competitive markets and efficiency.
  • Enter the problematic of the open economies in his commercial and financial relations with other countries.



Specific objectives stated by the academic staff for academic year 2019-20

You will come to appreciate the great power and some of the shortcomings of economic theory in explaining the economic world in which we live.




Code: 35000
Lecturer responsible:
Credits ECTS: 6,00
Theoretical credits: 1,50
Practical credits: 0,90
Distance-base hours: 3,60

Departments involved

    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