UNIVERSIDAD DE PUERTO RICO
Rio Piedras Campus
Faculty
of social sciences
Department
of Economics
Outline
Introduction
to Economics
Econ. 3005
Seccion
Credits:
three (3)
Tuesday-Thursday
2:30 – 3:50pm
Teacher:
Office
hours: by agreement
Email: jimmy.torrez@upr.edu
Website : jtorrez.uprrp.edu
Description
of the course:
The course starts the
student in the theoretical and applied knowledge of the fundamentals of
economics, concept and historical perspective, fundamental problems, methods of
analysis, fundamentals of microeconomics, macroeconomics fundamentals and
problems contemporaries and futures.
Objectives.
1. Understanding, applying and describing the basic
concepts, instruments and methods of análisis.de economic theory
2. Apply economic analysis tools to contemporary
economic problems.
3. Understanding the fundamentals of consumer and
business decision-making
4. Analyzing market behavior
5. Critically examining global and local economic
reality
Principle
objectives:
Upon completion of the course it is expected that the student will be able to:
1. Explain the concept of an economic system.
2
Discuss the problems of the economic
system.
3
Discuss the importance of the role of the market
in the economy.
4
Discuss the importance of the economic role of
the State.
5
Identify the basic elements of supply and
demand.
6
Discuss the concept of elasticity of demand and
supply.
7
Explain the applications of the concepts of
supply and demand in the economy.
8
Discuss the relationship between the demand and
the behaviour of the consumer.
9
Recognize the geometric analysis of the balance
of the consumer.
10 Explain
that it is the Organization of the company.
11 Discuss
the theory of products.
12 Explain
the concept of marginal products.
13 Define
the concept of cost.
14 Discuss
economic analysis of costs.
15 Explain the relationship
between the company and opportunity costs.
16. Define the concept of
production
17. Explain the relationship
between company decisions and production elements and costs.
18. Discuss bid behavior in
competitive companies.
19. Define the concepts of
efficiency and equity.
20. Discuss perfect
competition.
21. Discuss the patterns of
imperfect competition.
22. Discuss the concept of marginal
income.
23. Discuss the concept of
monopoly.
24. Explain the relationship
between marginal income and monopoly.
25. Define
that it is an oligopoly.
26. Explain that it is
monopolistic competition.
27. Describe the
relationship between oligopoly and monopolistic competition.
28. Explain the economic
behavior of large companies.
29. Explain the balance of
imperfect competition.
30. Describe the between income distribution and
marginal productivity.
31. Explain how
wages in the perfect competition are determined.
32 Discuss discrimination in the determination
of wages.
33.
Explain the importance of the labor movement.
34.
Describe the impact of the competition perfect on those wages.
35.
Discuss the basics of macroeconomics.
36 fine
the concepts of aggregate supply and demand.
Text:
Great news: your textbook for
this class is available for free
online! The “textbook” for the course is Principles of Economics (Second
Edition) from OpenStax:
https://openstax.org/details/books/principles-economics-2e
Principles of Economics
2e from OpenStax,
Print ISBN 1947172360,
Digital ISBN 1947172379,
There is a
variety of formats in which this textbook can be
accessed. I recommend downloading the PDF format
so it can be accessed offline. For
those who prefer a print copy, one can be purchased
on Amazon. The official version is of “better”
quality than other version sold on amazon but is also more expensive. =
Course Outline: :
|
Topic |
Text chapter |
Distribution of time |
|
Economic
Theory and a World of Scarcity |
Chapter 1 & 2 |
3 hours |
|
Supply and Demand |
Chapter 3 |
3 hours |
|
Labor
and Financial Markets |
Chapter 4 |
3 hours |
|
Elasticity |
Chapter 5 |
3 hours |
|
Consumer
Choices |
Chapter 6 |
3 hours |
|
Production, Cost
and Industry Structure |
Chapter 7 |
3 hours s |
|
Midterm 1 |
1.5 hours |
|
|
|
|
|
|
Perfect
Competition |
Chapter 8 |
3 hours |
|
Monopoly |
Chapter 9 |
3 hours |
|
Monopolistic
Competition and Oligopoly |
Capítulo 10 |
3 hours |
|
The Macroeconomic Perspective |
Chapter 19 |
3 hours |
|
Economic
Growth |
Chapter 20 |
3 hours |
|
Unemployment |
Chapter 21 |
3 hours |
|
Inflation |
Chapter 22 |
3 hours |
|
Midterm 2 |
1.5 hours |
|
|
|
|
|
|
The
Aggregate Demand/Aggregate Supply Model |
Chapter 24 |
1.5 hours |
|
|
Money and Banking |
Chapter 27 |
0.75 hours |
|
Monetary
Policy and Bank Regulation |
Chapter 28 |
0.75 Hours |
|
Exchange Rates and International Capital Flows
|
Chapter 29 |
If time permits |
|
Examen Final |
2 hours |
BIBLIOGRAPHY
Reference material:
Krugman, Paul, Wells, Robin & Olney Martha,
(2008). Fundamentos de
Economía, Editorial Reverté.Cap. VIII
McEachern,
Williams. (1997). Economía, 4ta Edición, Editorial Thompson.
En
el transcurso del semestre se asignarán lecturas adicionales que traten temas
económicos de actualidad.
Referencias
electrónicas www.endi.com
www.onu.org
www.who.int
www.censusbureau.com
ciaworldfactbook.gov
Evaluation:
The midterm examinations along with the final
will make up 80% of the students grade. In the unlikely event we have both in-class and online examines.
In class exams will hold twice the weight of online exams. For example if one examine is online and two
are in-class, the online exam will count for 16% of your grade and the two in-class examine will count as 32%
each.
The homework will count for 20%. The Students with special need may be evaluated differently. may be evaluated differently.
Grading
100-90 = A
89- 80 = B
79- 70 = C
69- 60 = D
59- 50 = F
NOTE: The
syllabus is tenuous and subject to change with prior notification.
Responsibilities
of the student
•
The student has as part of its responsibilities to prepare
for and participate in class discussions. The Professor be reserve the right
managing short tests (quizzes) understand that it is necessary.
•
Attend classes as the conferences scheduled during the class-related semester.
•
Assigned work must be delivered on time in
accordance with the date established.
•
Plagiarism and fraud in class will not be tolerated. If you wish include someone else's work you must properly quote the
reference. For more information on plagiarism and academic honesty
please see the following link. http:// www.indiana.edu/-wts/wts/glagiarism.html
- "Plagiarism: What "It Is and How to Avoid It". Indiana Univ.
Bloomington.
It is the student's responsibility to turn off or put on vibrate their cell upon entering the classroom.
Law 51 (Ley 51):
The students who receive services from Vocational Rehabilitation (Rehabilitación Vocacional )
must communicate with the professor at the beginning of the semester to plan a
reasonable arrangement and necessary assisting equipment according to the
recommendations of the Office of Handicapped Persons Affairs (Oficina de Asuntos para las
Personas con Impedimento, OAPI) of the Dean of
Students. Also, those students with special needs
that require some type of attendance or arrangement must communicate with the
professor.
The
Professor will be available during office hours or by appointment.
NOTE: The syllabus is tenuous and subject
to change with prior notification.
Cert. 39 Academic Senate No. 2018-19 – Regulation of gender discrimination in the form of sexual violence - "The University of Puerto Rico prohibits discrimination on the basis of sex and gender in all modalities, including sexual harassment. According to the Institutional Policy Against Sexual Harassment at the University of Puerto Rico, Certification No. 130, 2014-2015 of the Governing Board, if a student is being or has been affected by sexual harassment behaviors, he or she may go before Office of the Student Attorney's Office, the Student Deanship or the Title IX Compliance Coordinator for guidance and/or filing a complaint."
Cert. 112 2014-2015 Board of Governors - Section II L - Reasonable accommodation - Each campus or office shall provide reasonable accommodations to be used in each of the record offices offered in that campus or office. This statement is intended to: (a) establish the right of the student to request reasonable accommodation; (b) indicate the person or offie to whom the student must direct his or her request; (c) inform the mechanisms available to access, through various formats, the procedure established for the processing of the application and, (d) to establish that the request for reasonable accommodation does not exempt the student from complying with the requirements academics of the curricula. Example: "Students who require reasonable accommodation or receive Vocational Rehabilitation services should contact the teacher at the beginning of the semester to plan the necessary accommodation and equipment according to the recommendations of the office that serves matters for people with disabilities."
Cert. 112 2014-2015 Board of Governors - Section II M- Academic Integrity - The syllabus or outline should include the following statement: The University of Puerto Rico promotes the highest standards of academic and scientific integrity. Article 6.2 of the UPR General Regulations on Students (Certification No. 13, 2009-2010, of the Board of Trustees) states that "academic dishonesty includes, but is not limited to: fraudulent actions, obtaining grades or academic degrees using false or fraudulent simulations, copying in whole or in part another person's academic work, plagiarizing in whole or in part the work of another person, copying in whole or in part another person's answers to the questions of an exam, by asking or partially getting another person to take any oral or written evidence or examination on his behalf, as well as the help or facilitation for another person to engage in such conduct." Any of these actions will be subject to disciplinary sanctions in accordance with the disciplinary procedure established in the General Regulations of the UPR in force.
Cert. 112 2014-2015 Board of Governors – Syllabi or outlines: In accordance with Board of Governors Certification 112 (2014-15), 25% of the contact hours of this course may be offered, at the teacher's discretion using technology or other experiences of learning of the same academic quality.