Study Programmes 2015-2016
ECON2259-1  
Microeconomics and industrial economy
Duration :
40h Th, 15h Pr
Number of credits :
Bachelor in economics and business management5
Bachelor in business engineering5
Master in management (120 ECTS)5
Master in economics : general (60 ECTS)5
Master in management (60 ECTS)5
Lecturer :
Axel Gautier, Bernard Thiry
Coordinator :
Axel Gautier
Language(s) of instruction :
French language
Organisation and examination :
Teaching in the second semester
Units courses prerequisite and corequisite :
Prerequisite or corequisite units are presented within each program
Course contents :
Part 1: Microeconomics
  • Budget Constraint
  • Preferences
  • Utility
  • Choice
  • Demand
  • Slutsky Equation
  • Intertemporal Choice
  • Uncertainty
  • Consumer's Surplus
  • Market Demand
  • Equilibrium
  • Auctions
  • Technology
  • Profit Maximization
  • Cost Minimization
Part 2: Industrial Economics
  • Costs curves
  • Firm supply
  • Monopoly
  • Energy market
  • Monopoly behavior
  • Oligopoly
  • Economics of the internet
Learning outcomes of the course :
At the end of the course, the student must be able to:


  • Identify and define microeconomic concepts
  • Use microeconomic tools
  • Apply microeconomic tools to Industrial Organization
  • Understand the nature of competition between firms
  • Based on exercises, determine the optial choices of various agents (consumers, firms, etc.)
  • Explain and represent on a graph microeconomic mechanisms

These learning outcomes contribute to develop the 2, 3 and 6 ILO.
Prerequisite knowledge and skills :
Introduction to economics (Econ 0070) or equivalent Mathematics (Math 0055, Math 0058) or equivalent 10 and 16 ILO
Planned learning activities and teaching methods :
Class 2h30/week Exercises 2h/every two weeks Use of Moodle
Mode of delivery (face-to-face ; distance-learning) :
Face-to-face learning
Exercises in smaller groups
Recommended or required readings :
Required readings:
Varian H. (2011), Introduction à la microéconomie, 7° édition en français, De Boeck.
« Industrial economics » theoric slides available on Moodle.
Exercises available on Moodle.
Assessment methods and criteria :
Written exam
Work placement(s) :
Organizational remarks :
Class on Friday 8h00 - 10h30 (2° semester)
Contacts :
Axel Gautier Departement d'économie, HEC-ULg Bat B31, bureau I.49 Place des Orateurs 3 4000 Liège Email: agautier@ulg.ac.be
Assistant: Iman Salem Departement d'économie, HEC-ULg Bat B31, bureau I.58 Place des Orateurs 3 4000 Liège Tel : 04 366 31 95