El Departamento de Economía los invita a inscribirse en la nueva signatura ECONOMICS una excelente oportunidad para discutir los conceptos fundamentales de teoría y política económica en inglés, esta asignatura es un componente que hace parte de la formación integral, logrado potenciar las competencias genéricas de lectura, escritura y comprensión de textos en segunda lengua, además de complementar las competencias específicas en la formación de nuestros profesionales.

COURSE RATIONALE

In this study unit, we will review the basic, conceptual and mathematical foundations of the different types of economic policy and apply the theoretical analysis to current and recent global and national economic scenarios including, economic planning, monetary policy, fiscal policy, tax policy, labor policy, international trade and investment policy, social policy, and regional development and competitiveness policy. We will start the course by examining briefly the theory of economic growth and economic growth models, with a particular focus on development economics. The course will develop abilities in conceptual, mathematical and logical analysis, and the rigorous application of the principles and findings of economic theory through empirical work. This is the fundamental training economic policy-makers must complete in order to ensure the formulation of economic policy constantly achieves the most plausible solution in any of the economic and social problems of our society.

Economic policy and planning constitute specific tools with which decision makers intervene in the functioning of markets and influence the behavior of consumers, businesses, the external sector – in the case of large economies – the government and in general, the performance of the economy and social welfare. In that sense, throughout the course, students will practically and comprehensively analyze the design, development and implementation of economic policy at the national level and their equivalents in Latin America and worldwide, regarding its incidence with respect to the country’s main macroeconomic and social aggregates. In this study unit, students will use the basic knowledge they have acquired and apply the thought processes of an economist. They will also acquire skills in comparative analysis, and the interpretation and formalization of economic phenomena. The approach requires the rigorous and precise preparation of the different conceptual and interpretative models of reality and along the way students will understand the policy actions of the economic authorities in Colombia.

SKILLS DEVELOPED IN THE COURSE

GENERAL OBJECTIVES:
Upon finishing the course, students will be able to identify and analyze the role economic policy plays in an economic science setting, and its impact on the behavior of the country’s principal economic and social variables.

SPECIFIC OBJECTIVES:

SKILLS AND COMPETENCES TO BE DEVELOPED IN THIS STUDY UNIT

METHODOLOGY

Students must read the required readings prior to the scheduled lecture. This to ensure the class time is optimized developing the basic models and concepts, answering specific questions and applying the appropriate analysis to current economic scenarios and case studies. The instructor presents all units and case studies, complemented by group discussions and jointly developed analyses. In addition, students will count with the opportunity to conduct research and one individual presentation about an economist’s contribution to the science, of his/her choice (must be an author in the course reading list), as well as one group presentation on a current global or national reality, case study applicable to any unit of their choice. In both cases, the presentation must effectively connect with the content covered in class. Last, as an opportunity to earn extra credit and to improve their English level as well as conceptual mastery in both languages, students have the option to present short essays or articles (700-1000 words max.) about the reading(s) covered in class, written in English (a guide to an effective, user-friendly format will be shared the first day of class); these optional written assignments will count as extra credit (percentage and scale will be explained as well the first day of class).

CONTENT AND REQUIRED READINGS

EVALUATION SYSTEM