This course will prepare students for their upcoming professional roles by fostering a critical mindset regarding the various contemporary viewpoints needed to face the national and international economic challenges of today?s societies.
Through this course, students will have acquired:
? Knowledge of the main economic thinkers, concepts, and historical events.
? The ability to identify social problems caused by differing economic perspectives?economic policy?and their practical application when making decisions consistent with the principles of social justice.
Students will incorporate into their professional toolkit sufficient knowledge to make socio-economic and political decisions (economic policy) that align with the fundamental principles of social justice and Christian humanism, as well as with the mission of this Catholic university: to educate men to serve others, in order to improve the world.
Today, it seems that nothing escapes the reach of economics. Discussions revolve around the financialization of the economy, the subjugation of politics to economics, and even the subordination of governance to the dictates of international markets. A global economy that inexorably impacts our daily lives, dominated by economic variables such as public debt, the welfare state, unemployment, and inflation, to name just a few examples. These are real and multifaceted problems, yet addressing them outside the framework of economics appears impossible. Moreover, this choice is not neutral; it is based on theoretical positions?various ones exist?although throughout history some have emerged as dominant.
PRESENTATION: POLITICAL ECONOMY, THOUGHT AND HISTORY
0.1 General presentation
0.2 Programme and methodology
UNIT 1: FROM THE PREHISTORY OF ECONOMICS TO THE BIRTH OF POLITICAL ECONOMY
1.1 The evolution of ancient and medieval economics up to the 18th century
1.2 Aristotle and the first reflections on economics
1.3 The Scholastics
1.4 Mercantilism
1.5 Pre-classical economists: Petty, Cantillon, and the Physiocrats
UNIT 2: FROM THE ECONOMISTS OF THE FRENCH REVOLUTION TO CLASSICAL ECONOMICS
2.1 Economic approaches of the Ancien Régime and the French Revolution: Malthus, Say
2.2 Adam Smith and the ?invisible hand of the market?
2.3 The Neoclassical School and the ?Ricardians?: Ricardo and Stuart Mill
UNIT 3: THE INDUSTRIAL REVOLUTION, THE LABOUR MOVEMENT AND THE TRIUMPH OF CAPITALISM
3.1 Karl Marx, criticism of capitalism, and planned economy
3.2 The Marginalist Revolution: Jevons
3.3 Theorists of economic equilibrium: Walras, Pareto, and Marshall
UNIT 4: THE GREAT SCHOOLS OF 20TH CENTURY CAPITALISM
4.1 The Austrian School: Hayek and economic freedom as the ultimate form of liberty
4.2 The birth of Macroeconomics: Keynes and the role of the State as an economic agent
4.3 The ?dynamic? economy: Schumpeter and economic cycles
UNIT 5: THE AGE OF FRAGMENTATION AND NEW FOUNDATIONS
5.1 Psychology and mathematics come into play: Game Theory and Behavioural Economics
5.2 The feminist perspective in economics
5.3 Between Neo-Keynesians ?Samuelson? and Monetarists ?Friedman?
5.4 Growth theories ?Solow?, development ?Lewis?, and dependency theory ?Frank and Prebisch?
UNIT 6: THE TRIUMPH AND CRISIS OF CAPITALISM IN THE 21ST CENTURY
6.1 Neoliberalism versus the welfare economy
6.2 The global economy and alternative proposals: Stiglitz, Tobin, Sen, Akerlof, Krugman?
6.3 The climate crisis and its economic analysis
The working methodology is based on a theoretical-practical learning approach through work sessions that include an introductory and theoretical part for each topic, delivered by the professor with audiovisual support, and a practical part to be carried out by the student both inside and outside the classroom. This includes case studies, individual and group assignments, presentations, debates, and more.
In this way, a sequential pedagogy is developed, starting with contextualization for the student, followed by conceptualization by the professor, which then encourages a reflective observation attitude that invites the development of critical thinking. Subsequently, there is an active experimentation phase for the student, who applies the learned theory in practice, helping to firmly consolidate it in their education and becoming familiar with their future professional activity.
This methodology concludes with an ongoing evaluation phase based on three components: class attendance and active participation, the completion and presentation of assignments, and written exams. These are designed to assess the degree of internalization of the main concepts and theories, as well as the competencies the student has achieved in relating them coherently, systemically, and critically to real-life situations.
? Class attendance is mandatory. Absence from more than one-third of the total teaching hours, without a justified reason that is communicated, documented, and accepted by the professor, will result, in accordance with student regulations, in the loss of the right to be graded in the ordinary examination session.
? The assessment system is continuous, meaning that although each type of activity or test is evaluated and graded independently on a percentage basis, the final grade is the sum of all the partial percentages assigned to each activity?provided that the specific conditions outlined in this guide are met. It should be noted that continuous assessment tests and group work are not recoverable.
? Portfolio tasks and assignments (individual or group) will only be accepted if they are submitted/uploaded to the platform in the specified format and within the stated deadline.
? To be eligible for assessment in the Ordinary Examination Session, it is essential to have completed all continuous assessment activities and submitted them in the required format and by the indicated deadlines. If, for any reason that is properly justified, communicated, and accepted by the professor, the activities could not be submitted within the established period, they must be completed before the date of the final exam so that the professor can assess them. However, in this case, the professor will not be obliged to provide feedback or comments on those activities.
? On the other hand, students have the right to sit the final written exam in the Ordinary Session, even if they have not submitted all the continuous assessment activities. However, they will not receive a final grade for the course, and if any required activity has not been completed or submitted, the final record will state "Not Submitted".
? During written exams, the use or consultation of any learning materials or electronic devices is strictly prohibited.
? Plagiarism (including self-plagiarism) in any of the assessed activities will be subject to disciplinary action, in accordance with the regulations of each university.
? Limitation and/or prohibition of AI tools: The use of artificial intelligence is prohibited in this course/teaching activity. Therefore, any use of these tools by students will be considered academic misconduct and will lead to the application of the relevant disciplinary measures (in this course, a failing grade in the Ordinary Session).
EXTRAORDINARY EXAM SESSION (IN-PERSON / REMOTE)
The evaluation criteria are the same as those applied in the Ordinary Session. Therefore, all continuous assessment activities completed during the course must be submitted. Grades from previously completed activities will be retained. The same weighting criteria used in the Ordinary Session will apply in this session.
This provision applies only within the current academic year. If the student does not pass the Extraordinary Session, re-enrollment will mean repeating the entire course.
Final written exam: 50%
Continuous avaluation: 50%
- KURTZ, D. (2022). Breve historia del pensamiento económico. México: Fondo de Cultura Económica.
- PERDICES DE BLAS, L. (ed.) (2004), Historia del pensamiento económico. Madrid: Síntesis
- RONCAGLIA, A. (2017). Breve historia del pensamiento económico. Zaragoza: Prensas de la Unv. de Zaragoza.
- Jenofonte, El Económico
- Smith, A. (1776) Una investigación sobre la naturaleza y las causas de la riqueza de las naciones
- Ricardo, D. (1817) Principios de Economía Política y Tributación
- Marx, K. (1867) El Capital
- Jevons, W.S. (1871) La teoría de la Economía Política
- Edgeworth, F.Y. (1881) Psíquica Matemática
- Marshall, A. (1890) Principios de Economía
- Veblen, T. (1904) La teoría de la empresa de negocios
- Keynes, JM. (1936) La teoría general de la ocupación, el interés y el dinero
- Schumpeter, JA. (1934) La teoría del desarrollo económico