In the subject of Political Economics, economic basic concepts and skills are acquired in order to understand the complex current economic reality as well as analysing governmental economic policies.

On the one hand, the main functioning, pros and cons of current market economies will be studied in order to understand the behaviour of them. On the other hand, in order to justify and explain the role of the public sector, the main four macroeconomic issues are identified and analysed: the economic growth, the unemployment, the inflation and the external balance.

This subject acts as a bridge to develop the competencies required in higher courses in a more autonomous way. In particular, of the subjects of Economic and Tax System of the second year and of Labour Economics of the third year, as well as of business management related matters. The contents of this subject are particularly oriented towards professional development in the area of labour market intervention, and especially, in the design, application and evaluation of public policies regarding the employment and the operation of the labour market in general.

SPECIFIC SKILLS OF THE SUBJECT:

- To compare the underlying values, objectives, agents and institutions of different economic systems, with special attention to the market economy system.

- To identify and justify the intervention of the public sector in the economy and to be able to interpret and analyse the related indicators.

- To identify the main macroeconomic issues and imbalances, to explore their origin (the causes) and to propose economic policies to cope with them.

LEARNING OUTCOMES:

1. To analyse population statistics by interpreting the categories and applying them to the study of the labour market.

2. To use the statistics from the Spanish Active Population Survey to calculate unemployment and activity rates.

3. To interpret the unemployment and the activity rate while identifying the connections between them.

4. To interpret the unemployment according to the most common theories.

5. To structure in a correct and logical way the necessary steps to solve the assignments or questions asked.

6. To use the indicated information sources and to collect the correct data.

7. To synthesize in a clear and coherent way the information collected.

8. To solve the assignments or question/s asked presenting clear and well-argued conclusions.

SPECIFIC SKILL OF THE UNDERGRADUATE:

-17th. To interpret the data and the socio-economic indicators related to the labour market, as well as applying adequate research techniques for the development of research projects in the area of labour economics.

More information: https://www.ehu.eus/documents/6902252/14777368/17.-14_10_29+GUIA+CEG+n%C2%BA+17_1%C2%BA%2C2%C2%BA%2C3%C2%BA%2C+4%C2%BA.pdf/bc32a6f2-8d4e-3804-f25f-ccd0f4abe1ff

CROSS CURRICULAR SKILL OF THE UNDERGRADUATE:

Problems resolution:

- To effectively solve questions or assignments using the acquired abilities and skills to identify and assess the potential alternatives (M2).

More information: https://www.ehu.eus/documents/6902252/14777121/Anexo+IV+2014+CTG+Resol+problem.pdf/8c6c7ffc-fabc-787d-22ad-c075fc1b4923

Written communication:

- To communicate, transmit and interact properly regarding the writing of the technical language of the Degree.

More information: https://www.ehu.eus/documents/6902252/14777121/Anexo+II+2014_07_13+CTG+Comunic+escrita.pdf/b9c6a0db-c8cc-2c6f-9985-8ef1b0107daf

Use of information and communication technologies (ICT):

- To skilfully apply and use the ICT available at all times to obtain and process information related to the contents of the degree.

More information: https://www.ehu.eus/documents/6902252/14777121/Anexo+III+2014_05_22+CTG+Uso+TIC.pdf/99ff7d7c-16ee-6e91-71b8-f66e1268e90e

Lesson 1: The Economy in the western society

1.1 The economic activity: basic concepts

1.2 The economic systems: objectives and functioning

Lesson 2: Microeconomic analysis of the market

2.1 Types of market structure

2.2 Operation of the markets: the demand and supply curves, and the competitive equilibrium

Lesson 3: The intervention of the public sector in the economy

3.1 The role of the public sector in the economy

3.2 Market failures

3.3 Instruments of intervention and evolution of the public sector in the economy: the public budget

Lesson 4: Macroeconomic analysis

4.1 Basic concepts and interpretations

4.2 Measuring the production

4.3 The macroeconomic aggregates

4.4 The economic policy: the monetary policy and the fiscal policy

Lesson 5: The labour market

5.1 Basic concepts and indicators

5.2 Types of unemployment

5.3 Employment policies

Lesson 6: The inflation

6.1 Definition and measuring of the inflation

6.2 The relation between the inflation and the unemployment

6.3 The factors that explain the inflation and the anti-inflationary policies

Lesson 7: International trade and external balance

7.1. International trade and economic globalization

7.2. External payments

7.3. Balance of payments

The subject is organised based on a mixed methodological proposal according to the following scheme:

1. Lectures in which the teacher will explain the contents of the subject. However, as far as possible, exercises, comments and discussions related to the topic will be done during the master class. Weekly hours: 3 hours.

2. Applied classes coordinated with the theoretical / conceptual part of the subject dedicated to carrying out a series of activities: teamwork assignment, case exercises, problems solving or oral presentations. Weekly hours: 1 hour.



3. Tutorials: Students may attend the tutorials at their best convenience, a total of six hours a week (schedule can be consulted in GAUR application).



4. EGELA teaching platform. Basic support for the teaching in which students will have available all the necessary materials, information, deliverable tasks as well as communications of interest from the teacher.

• Continuous Assessment System
• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 70
  • Team projects (problem solving, project design)) (%): 30

The subject follows the continuous evaluation system, which consists of the following:

i) A written exam which will account for 70% of the final mark.

ii) A group written work to be developed during the course which will account for 30% of the final mark.

IMPORTANT: In order to add the mark obtained in the group written work to the mark obtained in the final written exam, it is mandatory to meet two conditions:

1. To attend the applied classes.

2. To obtain at least 2.5 out of 7 in the final written exam.





Renunciation of the continuous evaluation and the final evaluation system (end-of-course evaluation): The student could also be evaluated through the final evaluation system which consists in a written exam (about the contents seen in class) and will cover the 100% of the final mark. For doing this, the student must present a justification (in a written format) to the teacher in the first 9 weeks of the fourth-month period indicated in the academic calendar of the centre.



Renunciation of the ordinary call:

- In the continuous evaluation case, students must resign at least up to one month before the end date of the teaching period of the subject, sending a written justification to the teacher. The final grade will be NOT PRESENTED.

- In the final evaluation case (end-of-course evaluation), the non-presentation to the exam set in the official exams calendar will suppose the automatic renunciation to the corresponding call and the final grade will be NOT PRESENTED.

It will consist of a unique final written exam that will represent the 100% of the mark of the subject and will take place on the official published date by the Faculty. This exam may include both theoretical aspects and the resolution of practical questions.



Those students that have done the continuous evaluation in the ordinary call can keep the grade obtained in the teamwork(30% of the final mark) as long as they communicate it in writting to the teacher. In that case, the written exam of the extraordinary call will represent the remaining 70% of the final mark. However, in order to sum these two marks (30% +70%), it will be necessary to obtain at least 2.5 out of 7 in the final written exam.



In the rest of situations, the exam will account for 100% of the final mark.



Renunciation of the extraordinary call: The non-presentation to the exam set in the official exams calendar will suppose the automatic renunciation to the corresponding call and the final grade will be NOT PRESENTED.

Materials and content available on the EGELA platform.

Basic bibliography

- Mankiw, N. G. (2023): Principles of economics. 10th edition Cengage Learning.

- Krugman, P.; Wells, R. & Graddy, K.(2020): Essentials of Economics. Fifth edition. Worth Publishers.

In-depth bibliography

- Conde, Francisco J.; González, Sara (2001): Indicadores económicos. Ediciones Pirámide. Madrid.
- Core-econ.org.The economy 2.0. https://www.core-econ.org/project/the economy 2.0/
- Cuadrado, J.R., Mancha, T., Nonell, R., Villena, J.E., Casares, J., Peinado, M.L., González, M.,
Marín, J.M. Escribano, G.,San Martín, E. (2023). Política económica: objetivos e instrumentos (7ª).
McGraw-Hill.
- Griffiths, A. & Wall, S. (2007): Applied Economics, Financial Times Prentice Hall.Harlow.
- Mankiw NG. (2022): Macroeconomics, 11th Edition. Worth Publishers.
- Hernandez-Sampieri, R. y Mendoza, C. (2018): Metodología de la investigación. Ed.McGraw-Hill.
- Samuelson, P. & Nordhaus, W.(2009): Economics. McGraw-Hill Education. New York.

Journals

Ekonomiaz
Información Comercial Española
Papeles de Economía Española
Revista de Economía Mundial

Web addresses

https://data.europa.eu/euodp/es/data/dataset/ameco
https://www.ecb.europa.eu/home/html/index.en.html
https://www.econinbox.com/
https://ec.europa.eu/eurostat
http://www.eumed.net/cursecon
http://www.eustat.es
http://www.euskadi.eus/gobierno-vasco/departamento-hacienda-finanzas/inicio/
https://www.euskadi.eus/astekonomia/web01-a2ogaeko/es/
https://www.ilo.org
http://www.ine.es
http://www.mineco.gob.es/portal/site/mineco/economia
https://mru.org/resources/university/interactive-practice
https://www.oecd.org/
https://www.worldbank.org
https://sdgs.un.org/goals