ESCUELA SUPERIOR POLITÉCNICA DEL LITORAL

FACULTAD DE CIENCIAS SOCIALES Y HUMANÍSTICAS (FCSH)

COURSE SYLLABUS
MACROECONOMICS I

1. CODE AND NUMBER OF CREDITS:

CODE ICHE01537
NUMBER OF CREDITS Theoretical: 4 Practical: 0

2. COURSE DESCRIPTION:

This course puts to work the analytical and quantitative skills of the student to understand and analyze
Macroeconomics. At the end of the course the student will understand and be able to analyze subjects such as
economic growth, unemployment, investment, interest rate, productivity, economic fluctuations, their incidence
on a macro level as well as their causes. In addition, the course will develop the student’s capacity to read and
understand articles in the specialized press on current economic topics.

3. PRE-REQUISITES AND CO-REQUISITES:

PRE-REQUISITES (ICHE02691)INTRODUCTION TO MACROECONOMICS
(ICHE02246) QUANTITATIVE METHODS II
CO-REQUISITES None

4. CORE TEXT AND OTHER REQUIRED REFERENCES FOR TEACHING THE COURSE:
CORE TEXT 1. José De Gregorio, Macroeconomics. Theory and Policy, 1st.
edition, 2007, Pearson-Educación.
2. ABEL Andrew y BERNANKE Ben, Macroeconomics, Fourth Edition,
2004, Pearson Educacion S.A.
REFERENCES 1. BARRO Robert J., GRILLI Vittorio y FEBRERO Ramón,
Macroeconomics Theory and Policy, 2001, McGraw-Hill.
2. SACHS Jeffrey y LARRAIN Felipe, Macroeconomics in the Global
Economy, 2003, Prentice Hall.
3. SACHS Jeffrey y LARRAIN Felipe, Macroeconomics in the Global
Economy, 2002, Pearson.

5. COURSE LEARNING OUTCOMES:

On completing the course, the student will be able to:

1. Be familiar with real macroeconomics. The course puts to work the analytical and quantitative skills of
the student to understand and analyze Macroeconomics.
2. Understand and be able to analyze subjects such as economic growth, unemployment, investment,
interest rate, productivity, economic fluctuations, their incidence on a macro level as well as their
causes.
3. Read and understand articles in the specialized press on current economic topics.

6. COURSE PROGRAM:

1. INTRODUCTION. (4 HOURS)
1.1. The basic classical model.

2. ECONOMIC GROWTH. (10 HOURS)

2.1. The Solow growth model.
2.2. The golden rule.

3. LABOR SUPPLY, PRODUCTION AND CONSUMPTION. (8 HOURS)

3.1. Intertemporal consumption.
3.2. The wealth effect and the substitution effect.
3.3. The intertemporal substitution effect and the interest rate.

4. THE BEHAVIOR OF HOUSEHOLDS IN RELATION TO GOODS AND CREDIT MARKETS. (8 HOURS)

4.1. Budgetary restriction.

5. INVESTMENT AND ECONOMIC FLUCTUATION THEORY. (10 HOURS)

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MACROECONOMICS I
 5.1. Demand for investment.
5.2. Investment and budgetary restriction.

6. THE PUBLIC SECTOR IN ECUADOR. (8 HOURS)

6.1. Public spending.
6.2. Variations in public spending (transitory and permanent).

7. FOREIGN TRADE. (8 HOURS)

7. WORKLOAD: THEORY/PRACTICAL:

Number of teaching sessions per week: 2 sessions

Duration of each session: 2 theoretical hours
Number of weeks: 14

8. CONTRIBUTION OF THE COURSE TO THE EDUCATION OF THE STUDENT:

The subject of Macroeconomics I contributes to the scientific-technical-social training of the engineer in a

general manner, by enhancing the student’s capacity to analyze economic processes, together with the
relationship between the variables that generate economic growth, the economic cycles and how our prices are
affected by the overseas market, given that this can cause phenomena ranging from external shocks to
deviations in the Balance of Payments that could then give rise to Fiscal Deficit.

BASIC TRAINING PROFESSIONAL SOCIAL SKILLS

TRAINING DEVELOPMENT
X

9. RELATION BETWEEN THE LEARNING OUTCOMES OF THE COURSE AND THE LEARNING OUTCOMES OF
THE DEGREE PROGRAM:
LEARNING
CONTRIBUTION
LEARNING OUTCOMES OF THE OUTCOMES OF
(High, Medium, THE STUDENT MUST:
DEGREE PROGRAM* THE
Low)
COURSE**
Understand the economic process in
a) Have the ability to work as
LOW order to apply solutions to social
part of a multidisciplinary team;
problems.
Have the ability to elucidate an ethical
b) Understand ethical and
LOW behavior from a non-deliberate social
professional responsibility;
result.
c) Have the ability to
communicate effectively in
LOW Master communicative techniques.
Spanish both orally and in
writing;
d) Have the ability to
Interpret academic documents written
communicate effectively in LOW
in English.
English;
e) Have a broad education to
understand the impact of the Propose alternative solutions to
solutions of their career in the problems derived from the social
HIGH 1
global, economic, process for the satisfaction of the needs
environmental and social of individuals.
context;
f) Recognize the need to
continue learning throughout Correctly interpret events from a
MEDIUM 3
life and have the ability and historical perspective.
attitude to do so;
g) Understand contemporary Correctly interpret events from a holistic
MEDIUM 3
issues; perspective.
h) Have the ability to lead and Be able to write demonstrative essays in
show initiative LOW which the criteria of decision are
technical.

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MACROECONOMICS I
 i) Apply analytical methods and
interpret the results for MEDIUM 2
efficient decision making;
j) Analyze and evaluate the
performance of markets with Know the agents making up the market
HIGH 3
different economic and and their interrelation.
administrative structures;
k) Analyze and interpret the
financial and accounting
MEDIUM 2
information of a company for
effective decision making.

(* This column must also include the common curricular outcomes (cross-curricular outcomes) that the institution
approved on 16th February 2012 via resolution CP 12-02-078 of 23rd February 2012 (CAc-2012-034))
(** Only the NUMBER corresponding to section 5 of this document must be written.)

10. EVALUATION IN THE COURSE:

Evaluation Instruments
Exams X
Tests X
Homework/tasks X
Projects
Laboratory/Experiments
Class Participation
Visits
Other

11. PERSON RESPONSIBLE FOR THE CREATION OF THE SYLLABUS AND DATE OF CREATION:
Created by M.SC. IVÁN RIVADENEYRA CAMINO.
Date NOVEMBER 12, 2012.

12. APPROVAL:
ACADEMIC SECRETARY OF THE DIRECTOR OF TECHNICAL
ACADEMIC DEPARTMENT ACADEMIC SECRETARY
NAME: NAME:
Lcda. Ingrid León Vasconez MSc. Marcos Mendoza Vélez.

SIGNATURE: SIGNATURE:

Date of approval by the Directive

Council: R-CD-FEN- 004-2013
January 14, 2013

13. VALIDITY OF THE SYLLABUS:

RESOLUTION OF THE
POLYTECHNIC BOARD:
13-10-269

DATE: October 17, 2013

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MACROECONOMICS I