Inequality And Economic Growth

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Inequality And Economic Growth

SemestrE

Second

Language

English

ECTs

6

POWERED By

BBA

Academic area

Economics

CONCENTRATIONS / TRACKS​

C-Economics & International Business-BBA
T- Economics track

Prerequisites

Intermediate economics

OPEN TO IE STUDENTS ENROLLED IN THE FOLLOWING DEGREES (SINGLE AND DUAL): BBA, BIE, PPLE

Brief description

This is a course about topics related to economic inequality, growth, collective well-being, social mobility and social justice.

The course covers one of the main concerns, if not the main, from actual developed and emerging societies: the necessity of achieving a higher rate of economic growth which is, at the same time, compatible with a wealth and income distribution that satisfies the requirements of justice and social cohesion from a modern democratic society. The financial crisis from 2008-09 revived the debate about the capacity of Capitalism to ensure a sustainable economic growth-rate together with a social balance that does not question the justice of the prevalent economic system and, consequently, of the stability of democracies. Even though the System or Order of Liberties that we call Capitalism is reducing economic differences between countries, the inequality between the richest and the poorest inside each country has been growing in some countries. As a consequence, the social unrest in advanced economies increases and new political parties and movements appear. These newcomers reflect the discontent from the poor and the middle-class in the U.S., United Kingdom, France and Spain, among others, and demand an adjustment to the capitalist system. Those in positions of responsibility and economic and social leadership live in a moment when there is a debate about the legitimacy and ethical values of the actual economic system. Is it necessary, fair or right to increase the depth and number of redistributive public policies by increasing taxes to the rich, to businessmen and/or to innovators in order to subsidize social policies and the income from the poor? Can these economic policies be justified in terms of the economic science? Do these policies encourage or disfavor economic growth? Do these policies bring the outcome that their supporters claim? Those aimed at working in both the private sector and public organizations will develop, in this course, the necessary competence, knowledge and skills to be able to analyze the socio-economic environment they will need in their profession.

In this course participants will analyze different theoretical contributions from the Economics science and their practical applications and solutions that help them to develop their critical thinking, to participate with expertise and competency in the social debate, and, finally, to be able to make their own decisions in order to achieve an equilibrium between business development, economic growth and equality.

Learning Objetives

The objective of this course is for participants to improve their competences in the following areas:

•Understanding of the different Indexes used to measure Economic Growth and Economic Inequality.
•Development of the analytical skills needed to comprehend the causes of Economic Inequality and the main elements that sustain long-term economic growth.
•Capability to analyze the main characteristics of the capitalist system and the criticisms to it.
•Capability to analyze social-democrat and liberal policies for economic growth.
•Active participation in the debate about social justice and the actual problems and solutions to economic inequality in developed and developing economies.