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SERGIOARBOLEDAUNIVERSITY
SUBJECT
SEMESTER PRE-REQUISITE
ECONOMICS
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ECONOMICS
EIGHT
MICROECONOMICSI
MACROECONOMICSI
2
4
ECON5002
No.OFCREDITS
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WEEKLYHOURS
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CODE :
1. COURSERATIONALE
Inthisstudyunit,wewillreviewthebasic,conceptualandmathematicalfoundationsofthedifferent
typesofeconomicpolicyandapplythetheoreticalanalysistocurrentandrecentglobalandnational
economic scenarios including, economic planning, monetary policy, fiscal policy, tax policy, labor
policy, international trade and investment policy, social policy, and regional development and
competitivenesspolicy.Wewillstartthecoursebyexaminingbrieflythetheoryofeconomicgrowth
and economic growth models, with a particular focus on development economics. The course will
developabilitiesinconceptual,mathematicalandlogicalanalysis,andtherigorousapplicationofthe
principlesandfindingsofeconomictheorythroughempiricalwork.Thisisthefundamentaltraining
economic policy-makers must complete in order to ensure the formulation of economic policy
constantlyachievesthemostplausiblesolutionintermsofefficiency,effectivenessandequity,inany
oftheeconomicandsocialproblemsofoursociety.
Economicpolicyandplanningconstitutespecifictoolswithwhichdecisionmakersinterveneinthe
functioningofmarketsandinfluencethebehaviorofconsumers,businesses,theexternalsector–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’smainmacroeconomicandsocialaggregates.Inthisstudyunit,studentswillusethebasic
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.Theapproachrequirestherigorousandprecisepreparationofthedifferentconceptual
andinterpretativemodelsofrealityandalongthewaystudentswillunderstandthepolicyactionsof
theeconomicauthoritiesinColombia.
SERGIOARBOLEDAUNIVERSITY
ECONOMICS
2. SKILLSANDCOMPETENCESTOBEDEVELOPEDINTHECOURSE
GENERALOBJECTIVES:
Uponfinishingthecourse,studentswillbeabletoidentifyandanalyzetheroleeconomicpolicyplaysin
aneconomicsciencesetting,anditsimpactonthebehaviorofthecountry’sprincipaleconomicandsocial
variables.
SPECIFICOBJECTIVES:
•
EvaluatetheprincipaltheoreticalaspectsassociatedwitheconomicpolicyinColombia
•
Evaluatethecloserelationshipbetweentheoryandeconomiceventssothatstudentscaninterpret
thefindingsofthehypothesissuggestedabouteconomicevents
•
Understandtheresearchmethodofeconomicscience
•
ArouseinterestinknowledgeoftheColombianrealityinthelightoftheoreticalrevelations
•
Encouragereflectionamongstudentsbasedontheanalysisoftheoreticaltexts,writingofessays
andworkshopsrelatedtothesubject
SKILLSANDCOMPETENCESTOBEDEVELOPEDINTHISSTUDYUNIT
•
Theabilitytoread,understandandwriteabouteconomiceventsbothinEnglishandSpanish
•
Theabilitytointerpretgraphsandtranslateconceptstocharts,asan instrument toapproachthe
studyoftheColombianeconomy
•
Skills for formal thought which will allow students to apply the theoretical principles studied in
their academic work as a first step of the scientific methodology in the solution of problems
associatedwithmarketeconomies
•
Argumentativeskills
3. METHODOLOGY
• Studentsmustreadtherequiredreadingspriortothescheduledlecture.Thistoensuretheclass
timeisoptimizeddevelopingthebasicmodelsandconcepts,answeringspecificquestionsand
applyingtheappropriateanalysistocurrenteconomicscenariosandcasestudies.Theinstructor
presentsallunitsandcasestudies,complementedbygroupdiscussionsandjointlydeveloped
analyses.Inaddition,studentswillcountwiththeopportunitytoconductresearchandone
individualpresentationaboutaneconomist’scontributiontothescience,ofhis/herchoice(must
SERGIOARBOLEDAUNIVERSITY
ECONOMICS
beanauthorinthecoursereadinglist),aswellasonegrouppresentationonacurrentglobalor
nationalreality,casestudyapplicabletoanyunitoftheirchoice.Inbothcases,thepresentation
musteffectivelyconnectwiththecontentcoveredinclass.Last,asanopportunitytoearnextra
creditandtoimprovetheirEnglishlevelaswellasconceptualmasteryinbothlanguages,students
havetheoptiontopresentshortessaysorarticles(700-1000wordsmax.)aboutthereading(s)
coveredinclass,writteninEnglish(aguidetoaneffective,user-friendlyformatwillbesharedthe
firstdayofclass);theseoptionalwrittenassignmentswillcountasextracredit(percentageand
scalewillbeexplainedaswellthefirstdayofclass).
4. CONTENTANDREQUIREDREADINGS
Date
25-01-20161
27-01-2016
02-02-2016
1
Contentandrequiredreadings
INTRODUCTIONTOTHECOURSE
-Syllabus
-ABriefLookIntotheCurrentGlobalEconomyandColombia’sCurrent
EconomicAffairs
UNITI.
ECONOMICGROWTHANDDEVELOPMENTMODELS
-Sen,Amartya.DevelopmentasFreedom.1999(Introduction,pages312);Chapter1-2(pages13-53)
-CaseStudy
-Solow,Robert.AContributiontotheTheoryofEconomicGrowth.
QuarterlyJournalofEconomics,Vol.70,No.1(Feb.,1956),pp.65-94
-Application
This date has been re-scheduled to begin one week after, on 02-02-2016. All course content is therefore moved one week
forward.
04-02-2016
09-02-2016
11-02-2016
16-02-2016
18-02-2016
SERGIOARBOLEDAUNIVERSITY
ECONOMICS
-Solow,Robert.TechnicalChangeandtheAggregateProductionFunction.
TheReviewofEconomicsandStatistics,Vol.39,No.3(Aug.,1957),pp.312320
-Application
-Mankiw,Romeretal.AContributiontotheEmpiricsofEconomic
Growth.TheQuarterlyJournalofEconomics,Vol.107,No.2.(May,1992),
pp.407-437.
-Application
-Lucas,Robert.OntheMechanicsofEconomicDevelopment.Journalof
MonetaryEconomics,Vol.22,1988pp3-42.
-Application
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos1,2)
-Application/Casestudy
UNITII.
DEVELOPMENTECONOMICS
-Acemoglu,Daren.WhyNationsFail?2012(Chapter13)
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos3,4)
-Kalmanovitz,Salomon.LasInsitucionesColombianasenelsigloXX.
CátedraManuelAncízardelaUniversidadNacionaldeColombia,2010.
-Casestudy
23-02-2016
25-02-2016
01-03-2016
03-03-2016
08-03-2016
10-03-2016
SERGIOARBOLEDAUNIVERSITY
ECONOMICS
-Ocampo,JoséAntonio.SeisDécadasdeDebatesLatinoamericanos.
ColumbiaUniversityPress,2015.
-Sen,Amartya.DevelopmentasFreedom.1999(Introduction,pages312);Chapter3-4(pages54-110)
-Casestudy
-Sachs,TheTrueDriversofEconomicDevelopment.ForeignAffairs,Vol.
91,No.5,September/October2012,pp142-150.
-Application
-Sen,Amartya.DevelopmentasFreedom.1999(Chapters5-7,pages111159)
! FIRSTASSESMENT**CLASSREVIEW**
FirstAssessment
FirstAssessmentCorrection
UNITIII.
ECONOMICPOLICYANDPLANNING
-ArangoLondoño,Gilberto.EstructuraEconómicaColombiana.Editorial
Norma.Bogotá:1985.(Chapter25,pages585-596)
-ConstituciónPolíticadeColombia,1991(art.relevantes)
-Echeverry,JuanCarlos;Ibañez,AnaMaría,et.al.TheEconomicsof
Transmilenio:AMassTransitSystemforBogota.Workingpapers.
UniversidaddelosAndes,CEDE 2004-28, 2004.
-JuntaDirectiva,BancodelaRepública.InformedelaJuntaAlBancodela
República.Colombia:Julio2015
-Institutionalframework,applicationandreview:
DepartamentoNacionaldePlaneaciónDNP
CONFIS
CONPES
SERGIOARBOLEDAUNIVERSITY
15-03-2016
ECONOMICS
ActosLegislativos,Leyesyotrosinstrumentosnormativos
ÍndicieMulti-DimensionaldePobreza
TablerodeControlDNP
ÍndicedeNecesidadesBásicas
HumanDevelopmentIndex
WorldDevelopmentReport(WorldBank)
Other
UNITIV.
DEVELOPMENTPLANS
-PlanNacionaldeDesarrollo2014-2018“TodosHaciaunNuevoPaís”.
-Kalmanovitz,Salomón.ElImpactoEconómicodelConflictoInternoyun
EscenariodePaz.(Comentario),UniversidadJorgeTadeoLozano.2015
-Ocampo,JoseAntonio.A Post-2015 Monitoring and Accountability
Framework. United Nations, Department of Economic and Social
Affairs. CDP Background Paper No. 27 ST/ESA/2015/CDP/27 August
2015
17-03-2016
21-03-2016–27-03-2016
29-03-2016
-Casestudy:Análisisdelapolíticayplandedesarrollodelapresente
Administración
UNITV.
FISCALPOLICYANDTAXPOLICY
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos6)
-Cuadrado,JuanR.PolíticaEconómica:Elaboración,Objetivose
Instrumentos.Madrid,McGraw-Hill,1995.(Chapter16,pages563-590)
-Casestudy:AnálisisdelapolíticafiscaldelapresenteAdministración
EASTERWEEK–TERMBREAK
UNITVI.
MONETARYPOLICY
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos7,8)
31-03-2016
05-04-2016
07-04-2016
12-04-2016
14-04-2016
19-04-2016
SERGIOARBOLEDAUNIVERSITY
ECONOMICS
-Cuadrado,JuanR.PolíticaEconómica:Elaboración,Objetivose
Instrumentos.Madrid,McGraw-Hill,1995.(Chapter15,pages527-562)
i.Casestudy:Análisisdelapolíticamonetariadelpresenteperiododel
BancodelaRepúblicaencoordinaciónconlapresenteAdministración
-ii.Casestudy:Colombia’sexchangeraterecenteconomichistory;from
fixedratesto“crawling-peg”,from“hybrid”bandstofloating,fromTRM
US$3,300~(andcounting)to:Wherenext?
UNITVII.
INTERNATIONALTRADEPOLICY
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos5)
-Posada,Miguel.“Colombia’sInwardForeignDirectInvestmentandit’s
PolicyContext”inColumbiaFDIProfilesseries,ColumbiaCenteron
SustainableInternationalInvestment.NewYork:2011
-Poveda-Garcés,Ana-María.“OutwardForeignDirectInvestmentfrom
Colombiaandit’sPolicyContext”inColumbiaFDIProfilesseries,Columbia
CenteronSustainableInternationalInvestment.NewYork:2011
-Casestudiesininternationaltradeandinvestment:oneleast-developedcountry(LDC);oneemergingmarket;onedevelopedeconomy
! SECONDASSESMENT**CLASSREVIEW**
SecondAssessment
SecondAssessmentCorrection
UNITVIII.
LABORPOLICY
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos9)
-Echeverry,JuanCarlos;Santamaría,Mauricioetal.ThePoliticalEconomy
ofLaborReforminColombia.Workingpapers,UniversidaddelosAndes.
2004
21-04-2016
26-04-2016
28-04-2016
03-05-2016
05-05-2016
SERGIOARBOLEDAUNIVERSITY
ECONOMICS
-Stiglitz,Joseph.ThePriceofInequality.2015(Chapters3,4,5,10)
-Casestudy:Colombia’srecentandcurrentlaborpolicy
UNITIX.SOCIALPOLICY
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos10,11)
-Sen,Amartya.DevelopmentasFreedom.1999(Chapters8-10,pages
189-248)
-Casestudy:tobediscussed(TBD)
UNITX.
REGIONALDEVELOPMENTANDCOMPETITIVENESS
POLICY
-Cárdenas,Mauricio.IntroducciónalaEconomíaColombiana.Bogotá,
Alfaomega,3raEdición:2013.(Capítulos11)
-Ocampo,JoséAntonio.MisiónparalaTransformacióndelCampo.
DocumentoMarco-Misión.Bogotá,Octubre2014.
-Sen,Amartya.DevelopmentasFreedom.1999(Chapters11-12,pages
249-298)
-Casestudy:TBD
XI.
THECOLOMBIANECONOMYINGLOBALECONOMIC
GOVERNANCE
-CO21.AdoptionofTheParisAgreement.Paris:December2015.
-WorldEconomicForum,(Variousdiscussions-TBD).Davos.January:
2016.
SERGIOARBOLEDAUNIVERSITY
10-05-2016
12-05-2016
17-05-2016
19-05-2016
23-05-2016
25-05-2016
30-05-2016
01-06-2016
ECONOMICS
-PresidenciadelaRepúblicadeColombia.Informe–TBD.
-Sachs,JeffreyD.TheEndofPoverty.2005(Chapters13-18)
-Lederer,Kate.“TheEndofGDP?”inTheNewYorker,NewYork:9
September2015.
-UnitedNations.SustainableDevelopmentGoals(SDGs)2015.
! UNITSVIIITOXI**CLASSREVIEW**
! FINALEXAM***CLASSREVIEW***
FinalAssessment
FinalAssessmentCorrection
ExtraCredit&FinalPresentations
ExtraCredit&FinalPresentations
CourseEvaluation
5. EVALUATIONSYSTEM
Classparticipation,individualandgrouppresentations,quizzesandextracredit
FirstAssessment
SecondAssessment Finalexam
*
10%
30%*
20%*
40%
All extra credit a student earns for his/her optional wrtitting in English may count up to 10% of the grade in the first and/or
second assessment, depending on the content of the written piece and the quality of submission. That is, a whole 20% of the
course grade can be secured above average, with dedicated English composition –guided by the instructor. This scale and
guidelines for effective writing will be explained in detail the first day of class.