Notes regarding credits...

This course consists of 40 hours of instruction. However, students may earn 45 hours by attending supplemental sessions and completing additional coursework. Please check with your home university to find out whether you need 40 or 45 hours to earn course equivalents.

Note: A placement exam will be required when you arrive on site.

High Advanced

This course is designed for students who have completed or tested out of a minimum of five semesters (or seven quarters) of college-level Spanish. However, students must take a placement exam to determine the course level into which they will be able to enroll.

Introduction
This course offers a broad explanatory vision of the fundamental themes and questions of Spain's current economic situation employing both specific and global perspectives of the main macro-magnitudes, indicators, and economic politics.

Program
1. An overview of Spain's economy.- The years of the autarky, 1939-1959.- The stabilization plan of 1959.- The developing years, 1960-1973.- The first petroleum crisis, 1974-1979.- The second petroleum crisis and recuperation, 1979-1993.- From the climax to the recession, 1985-1994.- The future: the convergence with Europe.
2. National accounting.- The main macro-magnitudes.- The macroeconomic vision of Spain's economy.- Distribution of income in Spain.- Spatial distribution of PIB and income.
3. Spanish industry by sectors.- The agricultural and fishing sector. – The energy sector.-Industry and services: evolution and perspective of the future.- One hub of economic expansion: Catalonia-Mediterranean.
4. Inflation and unemployment.-The concept of inflation and some particulars. –The parts of the price index to consumption in Spain: the comparison with other countries.- Salaries and the evolution of labor costs.- The concept of unemployment. The data.- Evolution of the active population, employment, and unemployment: the structure of employment.
5. The Spanish financial system.- Current structure.- Financial flow of the Spanish economy.- The Bank of Spain and its functions. Spanish monetary politics.- The bank system.
6. Payment balance and type of exchange.- Payment balance in Spain.-Imports and exports: their determinants.- The evolution of exchange type.- Implications of the peseta belonging to the SME.
7. The public sector.- Public spending.- Public revenue. Public Administration collections.- Rules of economic activity: public companies.- General budgets of autonomous communities.
8. Spanish economy with regards to the process of the Economic and Monetary Union.- Spain in the Europe of the Acta Unica.- Spain with regards to the Economic and Monetary Union.

Evaluation
The evaluation consists of two quizzes and also papers that will be developed in class.

Bibliography
Anuario de El Pais, 1993.
Anuario de Economia y Finanzas, 1993.
Enciclopedia de Economia Española y Comunidad Económica Europea, Barcelona, Orbis, 1985, Capitulos 1 and 17 through 19.
GARCIA DELGADO, J. L., España. Economia, Madrid, Espasa Calpe, 1993.
Informe del Banco BBVsobre la economia española, 1992.
Información Comercial Española: Cincuenta años de economia española. Numeros 676-677, diciembre 1989-enero 1990.
Papeles de Economia Española. Various monographic numbers dedicated to Public Administration: number 37 (1988) and number 48 (1991).
Revista de Economia: Diez años de economia en democracia, Número 1, 1989.