Economy is a basic subject in the 2nd course, and it is placed in the Basic Formation module. The objective of this subject is to introduce economic and business language to the students. In particular, this subject studies the basic framework of economic analysis taking into consideration the macroeconomic and microeconomic notions. This way, the subject provides a global vision of the economic problems and a basic framework for understanding firm behavior.

The microeconomic side of the course analyzes the behavior of economic agents and different market structures. The macroeconomic side studies the main macroeconomic magnitudes, the goods and financial markets and external economic relationships.

Within the basic framework of the firm, this subject studies the functions developed by the marketing, production, finance, human resources and quality departments.

This subject develops the following competence: “Appropriate Knowledge of the firm concept, its institutional and legal framework. Firm organization and management”. This competence belongs to the Basic Formation module MO1.

After the course the students will reach the following learning results.

RA1: Clear and organized exposition of the main theories and concepts surrounding economic and firm theory.

RA2: The resolution of specific problems, using in an appropriate way the multiple representations of a phenomenon. All the steps for the problem resolution must be clear and accurate.

RA3: the elaboration and oral presentation of works regarding the knowledge acquired in the module and applied to general and practical problems regarding industrial engineering.

LESSON 1: The firm, the market and other institutions.

LESSON 2: Account and other indicators.

LESSON 3: The state and economic policies.

LESSON 4: Foreign trade

LESSON 5: History and theory of classical economy.

LESSON 6: History and theory of modern economy.

The subject sums up to 6 ECTS credits, representing 150 hours of student work. The tasks students must fulfill are the following:

1- Classroom teaching: 60 hours

In this subject, different teaching methodologies are used.

The classroom teaching classes will be used to make an exposure of the basic theoretical concepts and interpreting the results correctly.

The problem resolution and other aspects will be developed in a participatory way. Problems and exercises will be provided, and they will be developed individually and in groups, allowing a deeper practical knowledge of the contents. Open discussion will be encouraged in order to develop abilities such as oral communication and team work.

Seminars will be used to introduce the students in the world of firm economy.

2- Non classroom teaching: 90 hours.

• Continuous Assessment System
• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 70
  • Multiple-Choice Test (%): 6
  • Team projects (problem solving, project design)) (%): 14
  • Asistencia a seminarios y prácticas de ordenador (%): 10

The evaluation will be done considering two aspects.

1- Continuous evaluation is weighted with a 30% of final grade.

- Assistance to seminars and computer practices, 10%

- Team work, 10%

- Fulfilment of practical works, 10%

2- Final exam. 70% of weight on final grade.

- The exam will be written, and it will consist of theoretical-practical problems and exercises. It will be rated on a 0-10 scale.



The exam consists of 2 parts: theoretical and practical. To approve the subject, the grade in each part of the exam must be equal or above 4,5 (out of 10)



For those students who justify not taking part in a continuous evaluation, the final exam´s grade will be the final grade for the subject. Since the final exam constitutes over 50% of the subject´s grade´s weight, the act of not doing the exam automatically means that the student renounces the call and it will count as NON ATTENDED

Continuous evaluation: 30%

Final exam: 70%

To pass the subject, the grade (in a 10 scale) in the final exam must be above 4,5.

For those students who justify not taking part in a continuous evaluation, the final exam´s grade will be the final grade for the subject. Since the final exam constitutes over 50% of the subject´s grade´s weight, the act of not doing the exam automatically means that the student renounces the call and it will count as NON ATTENDED

Apuntes

Duñaiturria, S (coord); Gestión de la empresa y comercio exterior. Cámaras vascas; 1992.

Centeno, R. Economía para ingenieros; Piramide; 1989.

Informes y anuarios económicos del Banco de España, Cajas de Ahorro etc.

Noticias de prensa y artículos

Estractos de textos originales de economistas relevantes (Milton Friedman; Jhon Maynard Keynes; Joseph Stiglitz; Adam Smith; David Ricardo; etc)

Basic bibliography

Blanchard, O. Macroeconomía. Pearson. Prentice Hall. 2006. 4ª Edición



Centeno, R. Economía para ingenieros; Piramide; 1989.



Fernandez, E; Junquera, B; Brío del, J.A; Iniciación a los negocios para ingenieros. Learning Paraninfo; 2008.



Duñaiturria, S (coord); Gestión de la empresa y comercio exterior. Cámaras vascas; 1992.



Daly, E and Farley, J. Ecological economics: principles and aplications. Island Press, 2003.



Galbraith, JK. Historia de la Economía; Ariel Sociedad Económica. 1998.



Mochón, F. Principios de Economía. McGraw Hill. 2001.



Pindiyck, R. y Rubinfeld, D. Microeconomía. Pearson. Prentice Hall. 2009. 7ª Edición



Samuelson, P; Nordhouse, W; Economía; MacGraw-Hill; Madrid; 2002.



Tamames, R. Estructura económica internacional; Alianza Universidad; 1985.



Tamames, R; Introducción a la economía española; Madrid Alianza. 1993.



Tamames, R; La economía española : de la transición a la unión monetaria. Temas de hoy. 1996



Wonnacott, P; Wonnacott, R; Economía. McGraw-Hill. 1979.

In-depth bibliography

Friedman, M; Friedman, R; Libertad de elegir. Grijalbo. 1980.

Keynes, J; The collected writings of John Maynard Keynes; Cambridge University Press; 1971.

Marx Karl; El capital : crítica de la economía política. Madrid. E.D.A.F. 2000

Ricardo, D; Principios de economía política y de tributación; Madrid. Seminarios y ediciones. 1973.

Smith, Adam; The wealth of nations. New York. Bantam Books. 2003.

Web addresses

http://www.britannica.com/

"economics." Encyclopædia Britannica. 2009. Encyclopædia Britannica Online. 09 Feb. 2009 .

political economy. (2009). In Encyclopædia Britannica. Retrieved February 09, 2009, from Encyclopædia Britannica Online: http://www.britannica.com/EBchecked/topic/467600/political-economy
For a definition of "political economy", visit Merriam-Webster.

Páginas web de instituciones relevantes para el desarrollo de la asignatura, como por ejemplo: Fondo Monetario Internaciona, Banco Mundial etc.