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| ECON2269-1 | Volkswirtschaft
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| Duration : | 60h Th, 30h QA Sess. |
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| Number of credits : |
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| Lecturer : | Markus Fredebeul-Krein |
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Language(s) of instruction :
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| German language |
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Organisation and examination :
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| All year long, with partial in January |
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Course contents :
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| A. Introduction
1 Basic Economic Concepts and Rules
2 Production Possibility Frontier and the Model of Labour Divison
B. Microeconomics
1 Fundamentals of Supply and Demand
2 Welfare Effects of Policy Interventions I: Price Fixing and Quotas
3 Welfare Effects of Policy Interventions II : Taxes
4 Welfare Effects of Policy Interventions III : Labour markets
5 Market Failure: Public Goods and Externalities
6 Production and Costs
7 Supply
8 Monopoly and Oligopoly Markets
C. Macroeconomics
1 National Income Accounting: Measuring national income
2 National Income Accounting: Measuring cost of living
3 Production and Growth
4 Consumption, Savings and Investment
5 Basics of Monetary policy
6 Basics of Fiscal policy |
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Learning outcomes of the course :
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| During the microeconomic part the course imparts basic knowledge of the principles of market economies and price formation on markets. These principles are fundamental prerequisites to understand recent problems of and challenges to economic policy. Students will be able to understand and to evaluate the implications of policy measures. This enables them to compare strategic business options for companies and to contribute to strategy development.
During the macroeconomic part students learn to understand current economic policy discussions. They are able to analyze current macroeconomic problems and can derive adequate policy strategies. Students can assess the repercussions of both monetary and fiscal policy measures on the business environment and the business sector. They are able to decide which theory covers a given economic theory best. |
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Prerequisites and co-requisites/ Recommended optional programme components :
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| None. |
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Planned learning activities and teaching methods :
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| Straight lessons during the lectures.
Exercise sessions (1:30 each) in small groups of students (mandatory presence in the group assigned to the student is checked). Exercises illustrate the various chapters of the course by simple numerical examples, thus giving a better understanding of the matter. |
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Mode of delivery (face-to-face ; distance-learning) :
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| Face-to-face |
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Recommended or required readings :
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| Mankiw, N. G. (2012), Grundzüge der Volkswirtschaftslehre, 5. Auflage, Stuttgart (Schäffer-Poeschel) |
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Assessment methods and criteria :
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| Economics is a matter to judge the ability to analyse and apply a rigorous approach to problems. During the examination students shall both master the tools necessary to an understanding of the economic mechanisms and be able to think quickly and speak clearly. The answers to the questions must be formulated and rigorously justified. The final score reflects a general assessment of the qualities of the student according to different information the teacher provides to run tests constituting the exam. Proper knowledge of all the material is required to obtain a score of at least the satisfaction. Conversely , deficiencies in a significant part of the course will lead to a note of weakness or failure. Written examination (microeconomics ) and oral (macroeconomics) of the first and second term. Students can obtain an exemption from the first part of the course (microeconomics) after a written test held at the end of the first half. |
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Work placement(s) :
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Organizational remarks :
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Contacts :
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| Prof. Dr. Markus Fredebeul-Krein
M.Fredebeul@ulg.ac.be |
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| Items online : |
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| course material |
| course material can be found under |
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