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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 intrel-eco@unav.es http://www.unav.es/econom
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Classes available in English 2010-2011
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introduction
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 professional 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.
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First [fall] semester offerings
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First Year PRINCIPLES OF MICROECONOMICS 6 ECTS Prof. D. Anuj Joshua Mathew
FUNDAMENTALS OF FINANCE 6 ECTS Prof. Dña Carmen Aranda CALCULUS I 6 ECTS Prof. Dña Yuliya Lovaha
ANTHROPOLOGY (Annual) 6 ECTS Prof. D. Mario Silar
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 arguments with appropriate rigor.
The aim of this course is to develop a solid understanding of percent and interest early and then to apply that foundation to other applications in business and personal finance.
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, applications of theses concepts to solving and analyzing problems will be undertaken along with the theoretical classes.
This course seeks to study what is common to all human beings, that is, their nature, from a philosophical perspective, from the viewpoint of common first principles (/archai/) and a shared final end (/telos/). Insofar as the philosophical perspective should be open to inputs from other sciences, we shall pay special attention to contributions from Modern Happiness Studies and the relation between the Economy and the theory of Human Action.
[4] FIRST [FALL] SEMESTER OFFERINGS
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Second Year The objective of the course is to introduce concepts from statistical inference and statistical models so as to be able to further analyze practical problems from the fields of Economics and Management. The course will provide an overview of data analysis methods, then we will present the fundamental aspects of probability theory. We will then study discrete and continuous random variables. We will conclude with statistical inference methods related to the problems of parameter estimation and hypothesis testing.
Macroeconomics gives the student a theoretical and empirical framework for the analysis of the macromagnitudes of the economy and their fluctuations (GDP, inflation, unemployment, interest rates...) Students will learn to understand the fiscal and monetary policies designed to attain the main macroeconomic objectives: economic growth and price stability. The methods and models taught in class will be explained in the context of relevant historical and present-day examples.
The purpose of this course is to explain how different financial markets work and to analyze investment decisions. In particular,we are going to see the next topic: 1. Study the concept of risk on the financial markets (risk vs return). 2. Create optimal investment portfolios as a function of the risk-return utility of the investors. Management of those portfolios over time. 3. Learn some equilibrium models of finance: CAPM, APT, index models. 4. Learn how options and futures work. Know how to design investment strategies using derivatives. Know how to use them to hedge portfolio risk. 5. Learn how to use Excel as a tool for financial decisions.
PROBABILITY AND STATISTICS I 6 ECTS Prof. Dña. Christine Choirat
MACROECONOMICS: THEORY AND POLICY 6 ECTS Prof. Dña. Isabel Rodríguez
FINANCE 6 ECTS Prof. D. Szabolcs Blazsek
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HISTORY 6 ECTS Prof. D. Rafael Torres
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 economies 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 organisation and the development of managerial capitalism. *Note: This course is taught in Spanish but the material of the course is available in English and there is the possibility to make the exam in English.
ETHICS (Annual) 6 ECTS Prof. Dña. Ana Marta González
This course offers an introduction to ethics, that is, the study of normative and reflective dimensions of human agency, as well as philosophical theories on the founding of morality. Focus is placed on acquisition of rigorous ethical vocabulary and skills of ethical analysis and discussion.
Third Year MARKETING I 4.5 Credits Prof. D. Pedro Mir Bernal
APPLIED ECONOMICS I 4.5 Credits Prof. D. Javier Elizalde
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Markets are characterized by the complexity of their environment,as well as by increasing competition. This course focuses on the different elements of marketing, the relationship 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 international trade in current economies as well as to get a solid knowledge of some theoretical models of international FIRST [FALL] SEMESTER OFFERINGS
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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).
In opinion of many economists and experts in political science, the world is moving towards a global market economy. 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. This course analyzes important aspects, such as international trade, the international monetary system and financial markets. It also covers controversial issues, such as the financial crisis and the role of public policies.
FINANCE I 4.5 Credits Prof. D. Szabolcs Blazsek
ECONOMÍA MUNDIAL 6 Credits Prof. D. Jose Luis Álvarez
*Note: This course is taught in Spanish but the material of the course is available in English and there is the possibility to make the exam in English.
Fourth Year 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 student´s communication skills in the entrepreneurial 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.
BUSINESS COMMUNICATION 4.5 Credits Prof. D. Ricardo Leiva
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FINANCE III 4.5 Credits Prof. D. Antonio Aparicio
STRATEGIC MANAGEMENT 4.5 Credits Prof. D. Ricardo Mateo
ECONOMÍA APLICADA III 4.5 Credits Prof. D. José Luis Álvarez
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.
The main objectives of the course are: 1) Understanding the concept of strategy and the formal process of designing a strategy. It includes the formal process of Designing a Strategy, Corporate Strategy, Business Strategy and Functional Strategy. 2) The student must know the strategy from the point of view of the war and how best commanders deployed their strategies on the most important battles of the world. 3) Provide the student a practical overview of the business world by analyzing real cases. 4) Developing the capacity of student team work, applying strategy knowledge to a team work.
Why do international financial markets react to central banks decisions? Is there any causal link between monetary policy and the present financial crisis? What is the role of expectations in monetary policy? Which objectives should the Federal Reserve or the European Central Bank pursue? How can they reach them? Economía Aplicada III deals with these questions, all of them key issues in understanding the global and local economic environment. The course focuses specially on the connection between monetary policy and financial markets. *Note: This course is taught in Spanish but the material of the course is available in English and there is the possibility to make the exam in English
[8] FIRST [FALL] SEMESTER OFFERINGS
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Second [spring] semester offerings
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First Year ANTHROPOLOGY (Annual) 6 ECTS Prof. D. Mario Silar
PRINCIPLES OF BUSINESS ADMINISTRATION 6 ECTS Prof. D. Hugo Zarco
PRINCIPLES OF MACROECONOMICS 6 ECTS Prof. D. Mirko Abbritti
This course seeks to study what is common to all human beings, that is, their nature, from a philosophical perspective, from the viewpoint of common first principles (/archai/) and a shared final end (/telos/). Insofar as the philosophical perspective should be open to inputs from other sciences, we shall pay special attention to contributions from Modern Happiness Studies and the relation between the Economy and the theory of Human Action.
The overall purpose of this course is to introduce students to the basic concepts concerned with the firm, its functionalareas 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 theoretical and political debate: unemployment, inflation, growth, etc.
Second Year GLOBAL POLITICAL ECONOMY 6 ECTS Prof. D. Luis Ravina
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Global Economic Environment introduces the student to the main ideas, events and forces that shape the institutional, political and social framework of the world economy. It also pays special attention to the role of the European economy in the global area.The course is taught from a multidisciplinary perspective that combines economic issues and questions arising from other social sciences. The course aims at providing students with critical thinking skills that should be applied to the understanding of globalization and its FIRST [FALL] SEMESTER OFFERINGS
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multifaceted nature, including the present financial crisis.
This course offers an introduction to ethics, that is, the study of normative and reflective dimensions of human agency, as well as philosophical theories on the founding of morality. Focus is placed on acquisition of rigorous ethical vocabulary and skills of ethical analysis and discussion.
The course provides the student with an overview of Intermediate Microeconomic Theory. First, it analyzes the determination and welfare properties of equilibrium under perfect competition. Then, imperfect competition is analyzed, specifically Monopoly and Oligopoly Theory, with an introduction to Game Theory. Finally, a number of topics are studied, including General Equilibrium, Asymmetric Information, Uncertainty, Public Goods, and Externalities.
ETHICS (Annual) 6 ECTS Prof. Dña. Ana Marta González
MICROECONOMICS: THEORY AND POLICY 6 ECTS Prof. D. Pedro Mendi
Third Year 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 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.
ECONOMETRICS II 4.5 Credits Prof. D. Luis Albériko Gil-Alaña
QUANTITATIVE TECHNIQUES OF MANAGEMENT II 4.5 Credits Prof. D. Luis Albériko Gil-Alaña
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APPLIED ECONOMICS II 4.5 Credits Prof. D. Antonio Moreno
FINANCE II 4.5 Credits Prof. D. Szabolcs Blazsek
PUBLIC ECONOMICS II 4.5 Credits Prof. D. Francesc Pujol
What are the factors behind the Dollar/Euro exchange ratedetermination? 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 behaviour of exchange rates and both their real and nominal macroeconomic effects.
This course aims to further students’ understanding of corporate 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 Microeconomics 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 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.
[12] SECOND [SPRING] SEMESTER OFFERINGS
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This is an intermediate Macroeconomics course which deals with important aspects of business cycles and economic growth from both theoretical and empirical perspectives. Business cycle topics studied are: Open economy macroeconomics, consumption and investment theories, government debt and fiscal policy, monetary policy and stabilization and the most recent theories of business cycles: real business cycles and New-Keynesian perspective. We also study growth models such as the Solow model and endogenous growth frameworks.
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.
The main goal of this course is to analyze how EconomicTheory can be used to understand crucial aspects of organizations. 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 experimental methods. We will first present the existing the ries 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 Micr economics is required.
MACROECONOMICS II 6 Credits Prof. D. Antonio Moreno
MARKETING II 4.5 Credits Prof. D. Luis Arturo Rรกbade
ORGANIZATION THEORY 4.5 Credits Prof. D. Brice Corgnet
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Fourth Year HUMAN RESOURCES 4.5 Credits Prof. D. Mario Silar
BUSINESS ETHICS 3.5 Credits Prof. D. Alejo Sisón
BUSINESS POLICY 4.5 Credits Prof. D. Álvaro Bañón
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 development and performance management. As specific topics the course approaches crisis, risk and disaster management; and time management.
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 scepticism 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.
[14] SECOND [SPRING] SEMESTER OFFERINGS
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This course provides students with an understanding of the most relevant issues of social and economic development of developing countries as well as of international development cooperation. Students are expected to become familiar also with the main national and multilateral agencies financing development projects, such as the European Commission and the World Bank. They will be acquainted with the complex decision-making and project-management procedures commonly utilized in these agencies, public institutions, consultancy firms and non governmental organisations to undertake policies, initiatives and projects for growth and development. The overall aim of this course is to enable students to perform practical analyses and critical reasoning as well as to apply analytical and management tools required for working and researching in the development field.
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.
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 perspective.
DEVELOPMENT ECONOMICS 4.5 Credits Prof. D. Hugo Ruiz Taboada
FINANCIAL MARKETS PRACTICAL QUESTIONS 4.5 Credits Prof. D. Antonio Aparicio
SPORT AND ECONOMICS 3 Credits Prof. D. Francesc Pujol
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Other classes of possible interest
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SCHOOL OF COMMUNICATION COMUNICACIร N AUDIOVISUAL FIRST SEMESTER International Television 5 Credits International Advertising 5 Credits SECOND SEMESTER Broadcasting Management 4,5 Credits
PERIODISMO FIRST SEMESTER International Television 5 Credits International Advertising 5 Credits SECOND SEMESTER Public Opinion II4,5 Credits Broadcasting Management 4,5 Credits
PUBLICIDAD FIRST SEMESTER International Television 5 Credits International Advertising 5 Credits SECOND SEMESTER Broadcasting Management 4,5 Credits
SCHOOL OF LAW FIRST SEMESTER Introduction to Anglo-American Law and Case Analysis 3 ECTS U.S. Contract Law 3 ECTS U.S. Tort Law 3 ECTS Introduction to Accounting for lawyers 3 ECTS Introduction to International Commercial Law 3 ECTS SECOND SEMESTER U.S. Constitutional Law 3 ECTS U.S. Criminal Law 3 ECTS U.S. Litigation and Dispute Resolution 3 ECTS U.S. Business and Corporate Law 3 ECTS U.S. Tax Law 3 ECTS Introduction to Finance for lawyers 3 ECTS [17] OTHER CLASSES OF POSSIBLE INTEREST
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Introduction to Transport and Payment Law 3 ECTS International Corporate Law and Securities Regulation 9 credits (ANNUAL) Legal Aspects of International Finance 9 credits (ANNUAL)
SCHOOL OF HUMANITIES AND SOCIAL SCIENCES FIRST SEMESTER History and memory 6 ECTS Language and communication 6 ECTS Word Literature 6 ECTS English Language III 6 ECTS Seminario de LIteratura Universal 4,5 ECTS SECOND SEMESTER English Language 6 ECTS Imges and Culture 6 ECTS British and American Literature 6 ECTS Sociology 6 ECTS History and culture of the Engllish Speaking World 6 ECTS Teoría y práctica de la Traducción 4,5 credits Seminario de Estudios Anglonorteamericanos 4,5 credits
[18] OTHER CLASSES OF POSSIBLE INTEREST
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