Fundamentals of Economics

EENI- School of International Business

Syllabus of the Subject: Fundamentals of International Economics. Microeconomics and Macroeconomics


Bachelor's Degree in International Trade

The subject “Fundamentals of International Economics” consists of three parts:

Part 1 of the subject “Fundamentals of International Economics”

Unit 1. Key concepts of economics

  1. Economic problems
  2. Economic theory and economic policy
  3. Macroeconomics and Microeconomics
  4. Productive structure: goods and services and the productive sectors

Unit 2. Different economic thoughts

  1. Preclassic economic thought: from the Old Age to the sixteenth century
  2. Economic thinking in the seventeenth and eighteenth centuries
  3. Classical School
  4. Marxist School
  5. Neoclassical School
  6. Keynesian School
  7. Chicago School
  8. Perestroika
  9. Neoliberalism
  10. The third way

Part 2 of the subject “Fundamentals of International Economics”

Unit 3. Microeconomics

  1. Shortage and choice
  2. Consumer Behaviour
  3. Supply and demand and market equilibrium
  4. Elasticity of supply and demand
  5. Company, production and costs
  6. Market Types
  7. Market Structures
  8. Market Failures

Unit 4. Macroeconomics

  1. Evolution of Macroeconomics
  2. Gross domestic product
  3. Gross national product and net national product
  4. Income per capita
  5. Savings and investment
  6. External sector
  7. The market for goods and services and the aggregate demand
  8. Money, interest and income
  9. Inflation
  10. Economic cycles

Part 3 of the subject “Fundamentals of International Economics”

Unit 5. Foreign Trade

  1. Open economies. Trade policies of governments
  2. International Relations. Balance of payments
  3. Regulations and dumping
  4. Variables that affect the foreign trade: exchange rate, transportation cost, customs, consumer income, tariff barriers
  5. Foreign Direct Investment (FDI)

Unit 6. Case Study

  1. Analysis and interpretation of the macroeconomic data of a market study
  2. Use of macroeconomic data for market study

The objectives of the subject “Fundamentals of International Economics” are:

  1. To introduce the student to the basic concepts of economics both from the point of view of macroeconomics and microeconomics
  2. To know the main factors that influence the economies of countries and householders
  3. To understand the relationships between economic agents and the principal economic magnitudes
  4. To understand the functioning of a country's external sector and how it can be affected by specific variables

Languages of study English or Spanish Economía French Economie Portuguese EENI.

  1. Credits of the subject “Fundamentals of International Economics”: 6 ECTS
  2. Duration: six weeks

Sample of the subject: the fundamentals of International Economics
Australian Economy and Foreign Trade

Description of the Subject - fundamentals of International Economics

Today we can talk about the global economy. Companies and individuals continually face problems of supply, demand, inflation, etc. That is why it is vital to know how the economy works to know why things happen and to be able to plan both individual and companies economies.

Companies that export or want to invest in a country must know the economic situation of the country and its possible evolution. This may influence the prices to be set, the investment decision, the strategies to be followed for their implementation, etc.

The economic problems about what, how, when, where and for whom to produce must be well analysed. It is not the same to decide to implant in China to export from there, or if we do it with the aim of selling it in the Chinese market. All the variables have to be carefully analysed in order to make a decision that leads to business success.

We can divide the economy into two branches:

  1. Macroeconomics
  2. Microeconomics

The macroeconomics deals with analysing the macroeconomic aggregates that make up the activity of the national economy (gross domestic product, consumption, investment, external sector, etc.). Every international market research must take into account the macroeconomic aggregates of the target country.

The microeconomics is concerned with analysing the behaviour of individuals, families and companies. This way we can predict the behaviour of consumers and producers. This will be of great help when analysing a market where to export or to implant.

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