Identifying Data 2024/25
Subject (*) Principles of Economics: Fashion Industry Code 710G03003
Study programme
Grao en Xestión Industrial da Moda
Descriptors Cycle Period Year Type Credits
Graduate 1st four-month period
First Basic training 6
Language
English
Teaching method Face-to-face
Prerequisites
Department Análise Económica e Administración de Empresas
Economía
Coordinador
Picatoste Novo, José María
E-mail
j.pnovo@udc.es
Lecturers
Novo Corti, Maria Isabel
Picatoste Novo, José María
E-mail
isabel.novo.corti@udc.es
j.pnovo@udc.es
Web http://https://humanidades.udc.es/estudos/gim
General description Coñecer os fundamentos básicos das cuestións económicas máis relevantes, tanto na súa vertente macroeconómica como microeconómica. O estudo dos conceptos fundamentais, instrumentos e principios de economía permite comprender as decisións económicas da cidadanía nos seus diferentes roles como consumidores, inversores, votantes, empregadores/empregados, emprendedores, etc. O desenvolvemento desta materia está pensado en última instancia para entender a industria da moda e poder aplicar o aprendido sobre o funcionamento dos mercados (empresas e clientes) e a análise da competencia empresarial ás cuestións e problemáticas desta industria.

Competencies / Study results
Code Study programme competences / results
A2 To know the aspects of the environment that shape the evolution of the fashion industry and its firms, with particular focus on the impact of economic and legal trends
A7 To know the reality and social conditions that influence fashion, with a perspective of its historical development
B1 That students demonstrate that they acquired and understood knowledge in a study area that originates from general secondary education and that can be found at a level that, though usually supported by advanced textbooks, also includes aspects implying knowledge from the avantgarde of its field of study
B2 That students know how to apply their knowledge to their job or vocation in a professional form, and have the competencies that are usually demonstrated through elaboration and advocacy of arguments and problem resolution within their field of study
B3 That students have the capacity to collect and interpret relevant data (normally within their field of study) in order to issue judgements that include a reflection upon relevant topics in the social, scientific or ethical realm
B4 That students may convey information, ideas, problems and solution to the public, both specialized and not
B5 That students develop those learning skills that are needed to undertake ulterior studies with a high degree of autonomy
B6 Capacity for cooperation, team-work and collaborative learning in interdisciplinary settings
B7 Capacity to analyse trends (critical thinking)
B8 Capacity to plan, organize and manage resources and operations
B9 Capacity to analyse, diagnose and take decisions
C2 Mastering oral and written expression in a foreign language.
C7 Developing the ability to work in interdisciplinary or transdisciplinary teams in order to offer proposals that can contribute to a sustainable environmental, economic, political and social development.
C8 Valuing the importance of research, innovation and technological development for the socioeconomic and cultural progress of society.

Learning aims
Learning outcomes Study programme competences / results
Understand the real functioning of the economy in contemporary society as well as the interrelationships of business, labor, financial, social and political spheres to achieve a general perception of microeconomic and macroeconomic problems in international and globalized environments. B1
B2
B3
B4
B5
Ability to synthesize and apply the theoretical concepts for the treatment and resolution of economic problems in general (and those of the fashion industry, in particular) in a reflexive, critical and autonomous way. Capacity for oral and written expression. Capacity for teamwork. B6
B7
B8
B9
C2
Awareness of the obligation of every citizen to contribute (with their knowledge) to try to solve individual and collective human needs with a better understanding of the nature and problems of the latter. Development of students in economic decision making throughout their lives, taking into account the sustainable economy approach (economic-social-environmental links) as a source of long-term welfare generation A2
A7
C7
C8

Contents
Topic Sub-topic
MODULE I. INTRODUCTION Chapter 1. Introduction: The principles and practice of economics
Chapter 2. Demand, supply, and equilibrium
MODULE II. FUNDATIONS OF MICROECONOMICS Chapter 3. Consumers and incentives
Chapter 4. Sellers and incentives
Chapter 5. Perfect competition and the invisible hand. Trade and welfare
Chapter 6. Externalities and public goods
Chapter 7. Markets for Factors of Production. The labour market
MODULE III. MARKET POWER Chapter 8. Monopoly. market power and price discrimination
Chapter 9. Game Theory and strategic play
Chapter 10. Oligopoly and monopolistic competition
MODULE IV. INTRODUCTION TO MACROECONOMICS Chapter 11. Macroeconomic aggregates
Chapter 12. Fiscal and monetary policies, open economy and international trade
MODULE V. THE FASHION INDUSTRY Various evaluable readings on the fashion industry duly selected by the teaching staff corresponding to each block of the subject

Planning
Methodologies / tests Competencies / Results Teaching hours (in-person & virtual) Student’s personal work hours Total hours
Guest lecture / keynote speech B1 B2 B3 B4 B5 C2 36 40 76
Workbook B4 B5 B6 B8 B9 C7 5 35 40
Multiple-choice questions B1 B2 B3 B4 B5 2 0 2
Workshop A2 A7 B7 C8 2 10 12
Objective test B1 B2 B3 B4 B5 2 0 2
 
Personalized attention 18 0 18
 
(*)The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies
Methodologies Description
Guest lecture / keynote speech The professor will explain each of the program's topics, insisting on the fundamental concepts and their interrelations.
Class attendance is mandatory.
Workbook Students will solve issues and problems related to each of the chapters of the syllabus.
The professor will explain in advance the methodology to be followed and the bibliographic orientation.
Multiple-choice questions Objective test in which student is required to select one option from list of possible answers to direct question or incomplete statement provided.
Workshop Guests/participants will be organized throughout the course, workshops, or conferences. Guests/participants will be organized with people directly involved in projects or experiences that provide empirical knowledge about the subject's content.
These workshops may be in person or online
Objective test The final exam of this subject is a written test. The exam will preferably consist of multiple-choice tests, although it may also consist of short questions and / or essay questions.

Personalized attention
Methodologies
Workbook
Description
The teaching team will be available to provide personalized attention to students when they require it, in person or by email, for those topics they deem necessary in relation to the subject's syllabus and, particularly, to resolve doubts about the process of continuous evaluation.

Assessment
Methodologies Competencies / Results Description Qualification
Objective test B1 B2 B3 B4 B5 The knowledge and skills shown by the students in the final exam proposed by the teaching team will be evaluated. 80
Multiple-choice questions B1 B2 B3 B4 B5 This activity is part of the continuous assessment. The knowledge and skills shown by the students in the completion of deliverable tests will be assessed in order for them to work continuously in the classroom.

In addition, there will be readings that can be evaluated by moodle to make students aware of the fashion industry.
20
 
Assessment comments

The evaluation criteria are the following ones:

1. Students who did not show up: 

Students will not be graded when they only participate in assessment activities that have a weighting of less than 20% of the final grade, regardless of the grade achieved.

2. Second opportunity and advanced opportunity: 

a) Second opportunity: The conditions for evaluating the second opportunity (article 18, section 5, of the Normas de Avaliación, Revisión e Reclamacións das Calificacións dos Estudos de Grado e Mestrado) dictate that the second opportunity must guarantee the possibility of passing the subject by the student, so it is convenient to modify the percentages of qualification with respect to the first opportunity. Thus, the activity of the second opportunity will consist of a single final exam that will represent 100% of the final grade and will be done on the date of the official calendar. 

b) Advanced Opportunity: The conditions for evaluating the advanced opportunity (article 19 of the Normas de Avaliación, Revisión e Reclamacións das Calificacións dos Estudos de Grado e Mestrado) will be specific to this opportunity. This will be evaluated through an objective test that will represent 100% of the final grade.

3. Students with recognition of part-time dedication and academic exemption from attendance exemption: In the first and second opportunity, the evaluation criteria will be governed according to the performance of an objective test with a weight of 100% over the final grade. It will consist of a test in which theoretical and practical questions will be included in which the students will have to demonstrate that they have achieved the competences and the learning results of the subject.

4. On final evaluation conditions: It is prohibited to access the exam room with any device that allows communication with the outside and / or storage of information.

5. Student identification: The student must prove her personality in accordance with current regulations.

Other evaluation observations. On minimums in the evaluation criteria: A minimum grade is not required in the part of the continuous evaluation. For the whole activities, the student must obtain a minimum score of 5 points to pass the course.

About copying, plagiarism or other faults: it will affect the call in which the fault is committed and with respect to the matter in which it was committed. Therefore, the student will be graded with "fail" (numerical grade 0) in the corresponding call for the academic year, whether the offense is committed on the first opportunity or on the second. To do this, her rating will be modified in the first opportunity report, if necessary.


Sources of information
Basic

Acemoglu, D., Laibson, D. I., & List, J. A. (2019). Economics. Pearson.

Krugman, P., Wells, R. & Graddy K. (2014). Essentials of economics. 3rd Edition. Reverté

Complementary

Blanchard, O. (2017). Macroeconomics. 7th Edition. Pearson

Dillon, S. (2012). Principios de gestión en empresas de moda. Barcelona. Editorial Gustavo Gili

Donzé, P. Y. (2023). Selling Europe to the World: The Rise of the Luxury Fashion Industry, 1980-2020. Bloomsbury Publishing

Evans, N., Jeffrey, M., & Craig, S. (2020). Costing for the fashion industry. Bloomsbury Publishing

Frank, R.H. (2010). Microeconomics and Behavior. McGraw-Hill

Kew, S. J. (2023). The Path to Net Zero for the Fashion Industry: Five Strategies for Decarbonisation. Taylor & Francis

Martin, M.S. (2009). El todo en uno del diseñador de moda. Barcelona: Promopress.

McRobbie, A., Strutt, D., & Bandinelli, C. (2022). Fashion as Creative Economy: Micro-Enterprises in London, Berlin and Milan. John Wiley & Sons

Mochón Morcillo, F. (2009). Introducción a la Macroeconomía. Madrid. Mcgraw-Hill

Mouratidou, E. (2020). Re-presentation Policies of the Fashion Industry: Discourse, Apparatus and Power. John Wiley & Sons

Pindyck R. S. and Rubinfeld, D. L. (2013). Microeconomics. Pearson

Reilly, A. (2014). Key concepts for the fashion industry. Bloomsbury Publishing

Sayem, A. S. M. (Ed.). (2023). Digital fashion innovations: advances in design, simulation, and industry. CRC Press

White, N., & Griffiths, I. (2000). The fashion business: theory, practice, image. Berg


Recommendations
Subjects that it is recommended to have taken before

Subjects that are recommended to be taken simultaneously

Subjects that continue the syllabus

Other comments

1. The delivery of the documentary works carried out in this area:

a.They will be requested in virtual format and / or in computer support

b.It will be done through Moodle, in digital format without printing

2. The importance of ethical principles related to sustainability values in personal and professional behaviors must be taken into account.

3. Work will be done to identify and modify prejudices and sexist attitudes, and the environment will be influenced to modify them and promote values of respect and equality.

4. It will be facilitated the full integration of students who, for physical, sensory, psychic or sociocultural reasons, experience difficulties in adequate, equal and profitable access to university life.

5. In the classes, the principle of democratic debate will be maintained, listening to and respecting the different opinions on the topics covered, both by teachers and students.

6. As established in the different university teaching regulations, incorporate the gender perspective in this matter (non-sexist language will be used, bibliography of authors of both sexes will be used, student participation in class will be encouraged. .. ) .

7. Work will be done to identify and modify prejudices and sexist attitudes and influence the environment to modify them and promote values of respect and equality.

8. Situations of discrimination based on gender must be detected and actions and measures to correct them will be proposed.

ATTENTION TO DIVERSITY

The course may be adapted to students who require measures to support diversity (physical, visual, auditory, cognitive, learning or related to mental health). If so, you must go to the services available at the UDC/centre: within the official deadlines stipulated before each semester, with the Diversity Attention Unit (https://www.udc.es/es/cufie/ADI/LGTBIQ/); failing that, with the ADI tutor of the Faculty.



(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.