Folleto de Asignaturas en inglés

School of Economics and Business Administration International Relations Office

Edificio de Bibliotecas

[Entrada Este]

Universidad de Navarra,

31080 Pamplona

Tel. 948 425 625

Fax 948 425 626

[email protected]

http://www.unav.es/econom

asignaturas ingles:libreto asignaturas 08/02/2010 12:14 Página 1

Classesavailable in English


The University of Navarra is one of the leading universities

in Europe. Based in Pamplona, Spain, and with four campuses

throughout the country, the University of Navarra prides

itself on academic integrity, international focus and the pro-

fessional development of students. Each semester, the

student body is well complemented by a high percentage

of international students who come to Northern Spain to

take advantage of a rewarding university experience within

a beautiful campus setting and to partake in the global

setting that makes the University of Navarra so unique.

The Faculty of Economics of the University of Navarra has

been the first institution, wich has offered bilingual economic

and business education in Spain. Eight hundred undergraduate

students of diverse backgrounds are given instruction from

professors from all over the world, and benefit from a large

network of exchange and partner programs with leading

international firms, business and institutions. Fostering an

open dialogue through research and intellectual rigor, the

Faculty of Economics aims to share the interest and enthusiasm

that characterize the educational spirit of the School.

Based on this philosophy, our faculty offers a complete

range of subjects in English. These are offered to our

students and also to other international students that come

to the University of Navarra for Exchange Programmes.

introduction


First [fall] semester offerings


[4] FIRST [FALL] SEMESTER OFFERINGS

The aim of this module is to understand and discern the

fundamental economic problems from a microeconomic

point of view. The course is designed to provide a sound

basis in the fundamentals of micro-economics and their

application to both theoretical and real world situations.

Specifically, the module will provide a brief introduction to

the discipline of economics emphasizing the fundamental

concepts of economic theory. It furtherly looks into how

consumers value their choice over time and also market

behavior from the producer’s point of view in the various

types of market competitions. By the end of the module

the students will be able to demonstrate a broad knowledge

of core areas of economics, how to reason logically and

work analytically to justify conclusions using economic argu-

ments with appropriate rigor.

The aim of this course is to provide the students with a

sound introduction to the uses of mathematics in business

and personal finance applications. We will also analyze

financial statements for the purpose of evaluating performance

and understanding the levers of managment control.

Understanding the time evolution of economic variables

requires a very good knowledge of infinitesimal calculus.

In this course, we will study themes such as sequences

of real numbers (real line, notion of limit, etc.), series of

real numbers (convergence criteria), limits and continuity,

anti-derivative functions (definition of the integral, areas,

etc.). Like in any other course of quantitative nature, appli-

cations of theses concepts to solving and analyzing problems

will be undertaken along with the theoretical classes.

A comprehensive introduction and practice of communications

in the business environment is given.Topics covered include,

audience analysis in communications; practical application

of business writing; preparation and presentation using

oral skills; introduction and preparation of business strategy

cases.Business Communication subject aims to leverage

PRINCIPLES OF MICROECONOMICS

6 ECTS

FUNDAMENTALS OFFINANCE6 ECTS

CALCULUS I 6 ECTS

BUSINESS COMMUNICATION*

4.5 Credits


[5]

student´s communication skills in the entrepeneurial and

professional world and provide them with information and

abilities to work in the corporate communication and

business communication environment .

*Note that this class is offered both semestres.

In the opinion of many economists and experts in political

science, the world is moving towards a global market eco-

nomy. Market deregulation, the increase of foreign trade

and direct foreign investment, technological innovation and

the collapse of the socialist economy have led to what

some call global capitalism. The course analyzes aspects

as important as international trade, the international monetary

system and the financial markets.

Using the concepts learned in the introductory classes,

this course concentrates on the models used in macroe-

conomics and how to use these tools to study economic

problems in the real world. The relationship between

aggregate demand, employment and inflation in the short,

medium and long run are concepts to which we will devote

extra attention, making special note of the effects of fiscal

and monetary policies. Additional topics, such as the role

of expectations in markets and the importance of institutional

elements, will be presented for study and discussion.

The course analyzes the determination of demand, supply,

and equilibrium under the assumption of perfect competition.

We first study how demand is constructed starting from

the consumer's preferences, and given income and prices.

Analogously, we study the derivation of the supply curve,

given technology, and output and input prices. Equilibrium

arises as the intersection of market demand and industry

supply. We finally analyze the welfare properties of a number

of policies that alter this competitive equilibrium.

INTERNATIONAL ECONOMICS6 Credits

MACROECONOMICS I6 Credits

MICROECONOMICS I6 Credits


[6] FIRST [FALL] SEMESTER OFFERINGS

Markets are characterized by the complexity of their envi-

ronment, as well as by increasing competition. This course

focuses on the different elements of marketing, the rela-

tionship between different commercial actions, and their

impact on firms. Emphasis will be made on the explanation

of marketing, comprising both the strategic side and the

marketing mix.

The course is focused on the study of international trade.

First of all, we will pay attention to the evidence on countries’

behaviour regarding foreign trade that, joint with the study

of several economic theories on this topic, will allow us to

understand the pattern of trade between countries. The

student will be able to understand the importance of inter-

national trade in current economies as well as to get a solid

knowledge of some theoretical models of international

trade. The student will also be able to know some of the

most controversial issues around this topic, starting from

the classical discussion of free trade versus protectionism.

One of the objectives of this course is to help the student

to reach a rigorous and well informed opinion about these

issues.

The main goals of this course are to provide the student

with the fundamentals of portfolio selection and management,

to describe the most important financial assets valuation

methods-with a special emphasis on CAPM-, to study the

main features of fixed income products, and to provide an

introduction to derivatives (options, futures, warrants, etc).

The course aims at familiarizing students with the concepts

and tools of strategic management. This course uses a mix

of lectures and detailed cases that cover the main strategic

issues that modern corporations face nowadays. This course

is about understanding and meeting the challenges faced

by managers and firms competing nationally and internationally.

It is about how firms can use the practice of strategy to

build and sustain competitive advantage.

MARKETING I4.5 Credits

APPLIED ECONOMICS I6 Credits

FINANCE I4.5 Credits

STRATEGICMANAGEMENT

4.5 Credits


[7]

The course is structured with a mix of lectures, case studies

and students’ presentations. Continuous participation from

the students is required in all phases of the course. Class

participation evaluation will be done according to a careful

and systematic assessment of students’ participation during

the lectures as well as the class discussions. Cases and

selected article readings must be prepared prior to class.

Through the extensive use of business cases this course

develops skills in Corporate Finance, specifically: cash-flow

projections, market risks, cost of capital ,effects of leverage,

valuations and decision making in finance. The participants

are encouraged to thoroughly prepare the case at home

and discuss it in every session.

FINANCE III4.5 Credits


Second [spring] semester offerings


[9]

The overall purpose of this course is to introduce students

to the basic concepts concerned with the firm, its functional

areas and major decisions. Once completed this course,

the student should have acquired knowledge about how

a company is directed and managed. For this purpose, it

is intended to make an introductory review of standard

management functions while highlighting important issues

such as the nature of the firm, its environment, and related

tools for decision-making.

The objective of the course is to introduce the basic concepts

and tools used in macroeconomic analysis. In this course

the student will learn how to use and compare different

economic models to analyse and understand current

economic issues. The course studies the functioning of the

aggregate economy both in the long run and in the short

run, and covers many of the issues that dominate the the-

oretical and political debate: unemployment, inflation, growth,

etc.

This second part of the econometrics course is designed

to make students capable of analyzing the evolution of a

time series and predicting its future behaviour. They will

learn to identify which time process generates each series,

to estimate the parameters and to judge the validity of the

model. Emphasis will be placed on the practical application

of time series techniques for the analysis and prediction

of real economic variables. The issue of nonstationarity will

also be analysed in the course.

The purpose of the course is to give the basic tools of data

analysis that are useful in economics. The course will cover:

non parametric tests, ANOVA, an introduction to Markov

Chains, Metropolis algorithm and Bayesian Statistics.

The objective of the course is to analyse the macroeconomics

of an open economy and the fundamental microeconomic

aspects of the macro-economy. Some of the concepts

PRINCIPLES OF BUSINESS ADMINISTRATION6 ECTS

PRINCIPLES OFMACROECONOMICS6 ECTS

ECONOMETRICS II6 Credits

DATA ANALYSIS6 Credits

MACROECONOMICS II6 Credits


covered are the open economy, unemployment, consumption,

investment, the supply and demand of money and public

debt.

The objective of the course is to analyse the macroeconomics

of an open economy and the fundamental microeconomic

aspects of the macro-economy. Some of the concepts

covered are the open economy, unemployment, consumption,

investment, the supply and demand of money and public

debt.

This course completes our overview of Microeconomics

with an extension of the competitive model in several

dimensions. Firstly, we develop models of imperfect com-

petition with a particular focus on the analysis of Monopolies

and Oligopolies. We will later introduce issues related to

asymmetry of information, public goods and externalities.

Practical study of the most important financial markets,

equities, fixed income and forex: their operation, participants,

products and most important variables that affect their

value. There will be discussion of related articles of business

newspapers The content will be oriented towards practical

issues.

What are the factors behind the Dollar/Euro exchange rate

determination? What is the relation between European,

American and Japanese Interest Rates? What is the

reasoning behind monetary unions? What is a balance of

payments crisis? What are the advantages of adopting a

fixed exchange rate? Do speculative bubbles exist in the

exchange markets? Applied Economics II- International

Monetary Economics, addresses these types of questions

and more. The class is intended to familiarize the student

with the structure and functions of the foreign exchange

market. Additionally students will analyze the dynamic

behavior of exchange rates and both their real and nominal

macroeconomic effects.

MACROECONOMICS II6 Credits

MICROECONOMICS II6 Credits

FINANCIAL MARKETSPRACTICAL

QUESTIONS II4.5 Credits

APPLIED ECONOMICS II

4.5 Credits

[10] SECOND [SPRING] SEMESTER OFFERINGS


The students have to be able to analyze the behaviour of

time series, following Box-Jenkins methodology. They must

examine the statistical properties of different time series

model. Estimation and hypothesis testing become the core

of the course, along with the study of nonstationarity and

several forecasting techniques.

The main objective of the subject is to understand the

recent development of contemporary economies. To do

so, we will analyse the evolution of the world’s main eco-

nomies and Spain’s one from the eighteenth century and

the Industrial Revolution. Special attention will be paid, in

each case, to the reasons for economic growth and the

restraints. Throughout the course we will address mainly

the problem of uneven growth and the globalisation of the

economy. A particular analysis of national cases will be

made illustrating successful or unsuccessful economic

strategies. This general approach will be complemented

with a study of the evolution of the forms of business orga-

nisation and the development of managerial capitalism.

This course aims to further students´ understanding of cor-

porate finance learnt in previous finance courses. It also

provides the opportunity to develop analytical skills working

with real world business situations. Topics covered include

the analysis of sources and cost of internal and external

funding, capital structure, including the studying of the

Modigliani-Millar propositions, dividend policy, financial

analysis, operational finance and capital budgeting.

The course objectives of this subject are the study of main

sources of public income, the analysis of the effects of

taxes on economic behaviour and the study of the economic

impact of main taxes. Some of the theoretical abilities you

will deliver with this subject are the assimilation of Micro-

economics relevant concepts, an ability to relate concepts,

develop tools of critical analysis, acquire a precision and

rigor in reasoning, and an ability to relate between theoretical

concepts and practice as well as a synthesis ability. You

will also be able to assimilate technical concepts, develop

QUANTITATIVE TECHNIQUES OFMANAGEMENT II4.5 Credits

CONTEMPORARYECONOMICHISTORY6 Credits

FINANCE II4.5 Credits

PUBLIC ECONOMICS II4.5 Credits

[11]


[12]

SECOND [SPRING] SEMESTER OFFERINGS

public speaking.abilities, elaborate supports for presentations

(power point), improve your team working abilities, identify

information sources and develop self-assesment ability

and peer assessment.

The main goal of this course is to analyze how Economic

Theory can be used to understand crucial aspects of orga-

nizations. In order to analyze the main features of organizations

we will use, at the theoretical level, techniques developed

in Game Theory and at the empirical level we will use expe-

rimental methods. We will first present the existing theories

of the firm before analyzing in a second part the boundaries

of organizations. In the third part of this course we will use

principal-agent models in order to derive a theory of incentives

setting in firms. We will then draw on the previous models

to analyze issues of cooperation in organizations. The

approach is both empirical and theoretical. This course will

make extensive use of microeconomic theory as well as

experimental economics. Thus, prior knowledge of Micro-

economics is required.

It is widely accepted that the strategic management of

human resources is the best source of competitive advantage

for firms in order to survive and prosper in their respective

environments. The purpose of this course is to study human

behaviour in organizations and the meaning of the strategic

management of human resources. Special attention is

given to topics such as leadership, motivation, negotiation

and conflict, compensation, selection, placement and deve-

lopment, and performance management.

This course has been designed to provide students with

an understanding of the most relevant issues of social and

economic development as well as of international deve-

lopment cooperation. Students are expected to become

familiar with the main national and multilateral agencies

financing development projects, such as the European

Commission and the World Bank. They will also be acquainted

with the decision-making and project-management procedures

commonly utilized in these agencies. The overall aim of

ORGANIZATIONTHEORY

4.5 Credits

HUMAN RESOURCES

4.5 Credits

DEVELOPMENTECONOMICS

4.5 Credits


[12]

Ihis course is to enable students to perform the practical

analysis and the critical reasoning required for working and

reaserching in the development field.

In Sport and Economics we will provide an economic

analysis of professional sports, as well as the economic

lessons we can obtain from analyzing the organization and

behaviour of sport competitions. Even if the focus of this

subject is mainly economic, we will also consider some

business related issues, like sponsorship and branding.

We will concentrate our analysis in leading sports competitions

and sport events mainly from an European prespective.

Business ethics almost always hits the headlines in the

wake of scandals, but hardly ever when entrepreneurs and

managers do good deeds. These are often met with a skep-

ticism difficult to erradicate for, given the profit motive,

such stories are just “too good to be true”. Why so? After

a short introduction to the origins and development of

business ethics, this course will present a more constructive

approach based on the notion of “moral capital” or virtue.

We shall also explain how the firm, through the proper

ethical perspective, could actually be a potent force toward

attaining the common good of society.

Through the study of theory and cases, students understand

the central significance of policy and strategy to top managers

and their organization. They also learn the limits of specialized

knowledge for strategic problems. Students will understand

better the uniqueness in settings and operations of different

industries and individual companies, and they will also learn

how corporate governance can help all these matters and

how it determines the shape of a company. Finally they

will see different kinds of leadership in companies.

Based on a global view of marketing, students will be

required to study in further depth those marketing elements

that are most important at the present time. The subjects

on which the course is based include consumer behaviour,

service marketing and marketing research

SPORT AND ECONOMICS3 ECTS

BUSINESS ETHICS3.5 Credits

BUSINESS POLICY4.5 Credits

[13]

MARKETING II4.5 Credits


Offerings fromthe Master in Economics and Finance


[15]MASTER IN ECONOMICS AND FINANCE

FINANCIAL RISK MANAGEMENT3.5 ECTS Credits

[Second semester]

INVESTMENT THEORYUNDER UNCERTAINTY3.5 ECTS Credits

[First semester]

INDUSTRIAL ECONOMICS3.5 ECTS Credits

[Second semester]

This course is an introduction to modern financial theory.

It focuses on discrete time model analysis, and explicitly

examines the decision making process under uncertainty

in an intertemporal setting, the mean and covariance theory,

the arbitrage theory and the incorporation of differential

information into the decision making process. It ends with

an introduction to continuous time models.

This class has basically two goals. First, it examines the

concept of market or price risk, using models for its assess-

ment. Specifically, the course concentrates both on the

methods used for the calculation of the Value at Risk [VAR],

and on its extensions and alternatives. Additionally, the class

deals with the concept of credit risk and develops measu-

rement models such as CreditMetrics and CreditRisk.

This class covers several topics in the field of industrial

organization. Although reference is made to empirical

studies, the module mainly focuses on the models that

make up the theory of industrial organization. It also

includes static and dynamic oligopoly theory, entry and

exit, asymmetric information, research and development,

and operational networks.


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