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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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Courses taught in English 2011-12
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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
The aim of this module is to understand and to 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. Also it will help you to develop analytical skills using the major methods of mathematics and diagrams. It further looks into how to engender the ability to communicate and report findings, particularly via essays, presentations and problem sets. 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. There are no pre-requisites to taking this module and in particular there is no assumption of any prior knowledge of economics.
CALCULUS 6 ECTS
Understanding the time evolution of economic variables requires a very good knowledge of infinitesimal calculus. Topics include a discussion of limits, derivatives, and their application to the analysis of a function, an overview of integration, basic techniques for integration, a variety of applications of integration, and analysis of convergence of series and sequences. In this course, students must acquire certain mathematical knowledge and skills that will constitute the background necessary for the understanding of the subsequent math and economics courses.
FUNDAMENTALS OF FINANCE 6 ECTS
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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. Emphasized learning outcomes from the study of this module are, among others, to be able to solve problems with simple and compound interest, as well as with annuities, to be able to apply it to real life situations and finally to learn how to use the Excel Software. Taking this course will help the student acquire competences and skills such as, to improve logical reasoning and worktime organization, set out and solve problems and real cases and know the financial vocabulary. FIRST [FALL] SEMESTER OFFERINGS
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Second Year Macroeconomics gives the student a theoretical and empirical framework for the analysis of the macro magnitudes 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 presentday examples.
MACROECONOMICS: THEORY AND POLICY 6 ECTS
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.
PROBABILITY AND STATISTICS I 6 ECTS
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.
ECONOMIC HISTORY 6 ECTS
*Note: This course is not full taught in English but the material of the course is available in English.
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Third Year
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MARKETING I 6 ECTS
Markets are characterized by the complexity of their environment, as well as by increasing competition. This course is focused on understanding external, economical and company factors that build the Marketing strategies of the company. Students will be able to identify and design the best Marketing Strategy in different markets and environments and to understand how brand management works. They will learn how new tools such as digital media are giving new solutions to the companies to market their products and services and how to build the best consumer approach taking into account the consumer target with the most efficient brand strategy. The subject will cover topics such as how to identify and empower the strengths of the company and how to protect from threats of the market. Another key learning objective of the subject is to analyze the consumer’s behavior, its typologies and how to address them to build a successful impact and a long term loyalty level with them.
FINANCE II 6 ECTS
While Finance I was a course on investments where the learning emphasis broad covering basic financial products and financial markets, this course, Finance II is about corporate finance, which deepens these earlier concepts focusing on financial value creation at the firm level. This course is designed in the areas so that student will be able to apply financial concepts and theories learned in earlier finance courses to a broad range of practical problems and case studies aimed at consolidating their technical knowledge and skills in finance. They will also be able to extend their technical finance knowledge and practical experience by dealing with other important corporate finance topics such as valuation, capital structure, and financing. On top of that, the students will develop team skills as well as holistic and ethical values in finance.
BUSINESS COMMUNICATION I 3 ECTS
This course equips students to use English as an essential tool in the business world. Students will learn to express themselves correctly both orally and in writing within their working environment; to speak in public and field questions FIRST [FALL] SEMESTER OFFERINGS
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from the audience; and to read and write professional texts. This course is intended for students with an intermediate level of English (B1-B2), and may not be taken in combination with Business Communication II.
The economic and business environment, in which the majority of companies operate, has changed dramatically over the last years. This has led to significant changes in the way companies are run, and the way they include new management skills and competences. This course focus on some of them: Reputation, Brand Value, Innovation, Positioning, environment and ethics.
TOPICS IN BUSINESS AND ETHICS I 6 ECTS
This course equips students to use English as an essential tool in the business world. Students will learn to express themselves correctly both orally and in writing within their working environment; to speak in public and field questions from the audience; and to read and write professional texts. This course is intended for students with an advanced level of English (B2-C1), and may not be taken in combination with Business Communication I.
BUSINESS COMMUNICATION II 3 ECTS
The course is focused on the study of international trade. First of all, we will pay attention to the evidence on countries’ behavior 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 trade. The student will also be able to learn about some of the most controversial issues around international trade, 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.
INTERNATIONAL TRADE 6 ECTS
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MONETARY POLICY AND FINANCIAL MARKETS 6 ECTS
“Política monetaria y sistema financiero” is an undergraduate course on monetary policy and financial markets, which combines lectures, oral presentations and class discussions. It focuses on the main issues on monetary policy and financial markets, such as financial crises, interest rate behavior, central bank autonomy, monetary policy strategies and inflation. *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 STRATEGIC MANAGEMENT 4.5 Credits
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.
FINANCE III 4.5 Credits
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.
SPORTS AND ECONOMICS 3 Credits
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 behavior of sport competitions. The focus of this subject is mainly oriented business related issues, like sponsorship and branding. We will concentrate our analysis in leading sports competitions and sport events mainly from a European perspective.
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FIRST [FALL] SEMESTER OFFERINGS
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Second [spring] semester offerings
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First Year PRINCIPLES OF BUSINESS ADMINISTRATION 6 ECTS
Principles of Business Administration is a subject that provides students an introduction of basic concepts concerned with the firm. For this purpose, it is intended to make an introductory review of the management functions while highlighting important issues such as the nature of the firm, its environment, and associated tools for decisionmaking. This course will allow students develop team working skills, autonomous learning, and feed their sensibility towards ethical, social, and environmental issues related to the firm.
PRINCIPLES OF MACROECONOMICS 6 ECTS
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 analyze 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.
CALCULUS II 6 ECTS
The aim of this subject is to provide techniques of calculus with functions of several variables necessary for analyzing economic problems. In terms of knowledge, at the end of the course the student will be able to: 1) Extend the concepts of one variable functions to several variables. 2) Understand the fundamental tools of calculus with functions of several variables. 3) Pose and solve static optimization problems with and without restrictions. 4) Complement the theoretical tools learned using appropriate software to solve problems and exercises. 5) Apply all the acquired concepts to economic problems.
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Second Year The purpose of this course is to explain how different financial markets work and to analyze investment decisions. In particular, the student will learn the concept of risk on the financial markets (risk vs. return), how to create optimal investment portfolios as a function of the risk-return utility of the investors and choose among alternative investments based on the available financial information. The student will also analyze the main characteristics of fixed-income and derivatives products and learn how to use Excel and GRETL as a tool for financial decisions.
FINANCE I 6 ECTS
The course provides the student with an overview of Intermediate Microeconomics. This course covers a wide range of topics, starting from the analysis of competitive markets, and including also monopoly, oligopoly, game theory, uncertainty, general equilibrium and market failure. The course aims to provide the student with a sufficient knowledge to understand economic models and apply mathematical tools to the economic analysis.
MICROECONOMICS: THEORY AND POLICY 6 ECTS
The course begins by studying concepts of Statistical Inference, such as hypothesis testing and contingency tables. Then, it introduces two linear models: Analysis of variance and simple linear regression. The course also includes exploratory data analysis and applications to Economics and Business.
PROBABILITY AND STATISTICS II 6 ECTS
Global Political Economy is designed as an introduction to the main ideas, trends, events and forces which shape the political, institutional and social framework in which the world economy develops. For this purpose the course takes a multidisciplinary approach combining questions from different social sciences such as economics and political science. This analysis will help students develop a critical understanding of the new reality of the world economy, which some define with the sole word "globalization" but which has many different sides to it. During the course we shall address the role and position of the economies of Spain and Europe in this global framework.
GLOBAL POLITICAL ECONOMY 6 ECTS
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Third Year BUSINESS COMMUNICATION II 3 ECTS
This course equips students to use English as an essential tool in the business world. Students will learn to express themselves correctly both orally and in writing within their working environment; to speak in public and field questions from the audience; and to read and write professional texts. This course is intended for students with an advanced level of English (B2-C1), and may not be taken in combination with Business Communication I.
COMMUNICATION SKILLS 3 ECTS
This course equips students to use English as an essential tool in the business world. Students will learn techniques of spoken and written communication in Business context. By taking this course, the student will be able to develop skills communicating with clients, colleagues and other professionals as well as understanding sources of information on economics issues in English.
MARKETING II 6 ECTS
The American Marketing Association defines marketing research as the function that links an organization to its market through the gathering of information. We want to study the way in which this information facilitates the identification and definition of market-driven opportunities and problems for a firm, as well as the way in which a company may follow the development and evaluation of marketing actions.
ORGANIZATION THEORY 6 ECTS
The main goal of this course is to analyze how Economic Theory 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 Economics tools. 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 a theory of incentives setting in firms. We then draw on the previous models to analyze issues of cooperation in organizations. The approach is both empirical and theoretical. This course will make extended use of microeconomic
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SECOND [SPRING] SEMESTER OFFERINGS
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theory as well as experimental Economics. Thus, prior knowledge of Microeconomics is required.
The economic and business environment, in which the majority of companies operate, has changed dramatically over the last years. This has led to significant changes in the way companies are run, and the way they include new management skills and competences. This course focus on some of them: Reputation, Brand Value, Innovation, Positioning, environment and ethics.
TOPICS IN BUSINESS AND ETHICS II 6 ECTS
Operations Management is a subject in which the Operations System of the company is analyzed. The Operations System includes all the activities and decisions related to the design and production of products and services in a company. In the case of production companies, the Operations Systems concerns especially decisions related to the flow of materials. The Operations System is a key area to ensure the competitiveness of a company, so their understanding is very important for comprehensive understanding of the company.
OPERATIONS MANAGEMENT 6 ECTS
This course aims to further students understanding of corporate finance learnt in previous finance courses and to give a deeper knowledge of various financial products. In particular, we are going to learn more on fixed-income and derivatives products. Also on equity (stocks) and finally we are going to focus on capital structure decisions, dividend policy decisions, and investment project valuation.
FINANCE II 4.5 credits
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.
INTERNATIONAL FINANCE 6 ECTS
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TIME SERIES 6 ECTS
It is a course on Basic Time Series Analysis. We start defining a time series, followed by the different ARMA-type processes. Topics covered in this course are, among others, estimation methods, hypotheses testing procedures, such as Wald, Likelihood Ratio and Lagrange Multiplier tests, model selection, explaining the Box and Jenkin’s methodology and seasonality issues. Finally we will learnt about prediction, non stationary time series, structural time series models and long memory processes and frequency domain methods in time series.
THE EUROPEAN AND SPANISH ECONOMY 6 ECTS
“Economía Europea y Española” is an undergraduate course on the European Economy, with a special focus on the Spanish Economy. This course combines lectures, oral presentations and class discussions, as well as a group project. This course provides students with an introduction to the main features and problems of the European Economy. *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
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BUSINESS POLICY 4.5 Credits
Business Policy is a subject aimed to understand the central significance of policy and strategy to top managers and their organizations. For this purpose, it is analyzed how environments, external and internal, affect the functioning of an organization and the associated methods to assure that policies and strategies are implemented.
BUSINESS ETHICS 3.5 Credits
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 skepticism difficult to eradicate 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 pers. SECOND [SPRING] SEMESTER OFFERINGS
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pective, could actually be a potent force toward attaining the common good of society.
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 behavior of sport competitions. The focus of this subject is mainly oriented business related issues, like sponsorship and branding. We will concentrate our analysis in leading sports competitions and sport events mainly from an European perspective.
SPORT AND ECONOMICS 3 Credits
The objectives of the course are to introduce to the students the most relevant economic and management aspects of Development Cooperation and to familiarize them with the main national and multilateral institutions that finance cooperation projects. Moreover, the course gives directions in coping with complex structures of decision-making and project management as well as guidance to the students in order to develop a capacity for practical analysis and critical reasoning on development issues and sustainable growth of developing countries.
DEVELOPMENT ECONOMICS 3 ECTS
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Other courses available in English
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SCHOOL OF COMMUNICATION FIRST SEMESTER Communication History 3 ECTS World Literature 6 ECTS European cinema 5 credits SECOND SEMESTER Effective speaking and writing 3 ECTS Sociology 6 ECTS Images and culture 6 ECTS Broadcasting Management 4.5 credits International Relations 8 credits
SCHOOL OF LAW FIRST SEMESTER Introduction to Anglo American Law and Case Analysis 3 ECTS U.S. Business and Corporate Law 3 ECTS U.S. Tax Law 3 ECTS Introduction to Accounting for Lawyers 3 ECTS International and Comparative Corporate Law 3 ECTS Legal Aspects of International Finance and Takeover Bids 3 ECTS Japanese Law Seminar * Arbitration and Mediation * Evolution of Legal Systems in the Western World * SECOND SEMESTER U.S. Constitutional Law 3 ECTS U.S .Contract Law 3 ECTS U.S. Criminal Law 3 ECTS U.S. Litigation and Dispute Resolution 3 ECTS U.S. Tort Law 3 ECTS Introduction to Finance for Lawyers 3 ECTS Introduction to International Commercial Law 3 ECTS Introduction to Transport and Payment Law 3 ECTS International and Comparative Securities Law 3 ECTS Selected Topics in Debt Finance and Private Equity Transactions 3 ECTS Legal Research Seminar * Intellectual Property * *These are seminars and no credits will be awarded OTHER CLASSES AVAILABLE IN ENGLISH
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SCHOOL OF HUMANITIES AND SOCIAL SCIENCES FIRST SEMESTER Language and Communication 6 ECTS World Literature 6 ECTS History and Memory 6 ECTS Classic Characters in English and American Literature 3 ECTS Human Resources Management / Tยบ de la acciรณn II 6 ECTS Language Learning & Attention to Linguistic Diversity 3 ECTS SECOND SEMESTER English Language 6 ECTS Images and Culture 6 ECTS Sociology 6 ECTS British and American Literature 6 ECTS History and Culture of the English Speaking World 6 ECTS Business Ethics 3 ECTS Character Education 3 ECTS Teaching Science 6 ECTS ANNUAL Anthropology 6 ECTS Ethics 6 ECTS
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