Duration
40h Th, 15h Pr
Number of credits
| Bachelor in economics and business management | 5 crédits |
Lecturer
Language(s) of instruction
French language
Organisation and examination
Teaching in the first semester, review in January
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
This course is an introduction to political economy and more precisely to microeconomics. It introduces various concepts and methods to the students, aimed at being applied in order to better understand various socio-economic phenomena.
1. Introduction to economics
2. Perfect competition: the supply and demand, the consumers and their incentives, the producers and their incentives and perfect competition and the invisible hand.
3. The market failures: externalities and public goods, state interventions in the economy
4. Exchange and production factors: commercial exchanges and production factors
5. Imperfect competition: monopoly, game theory, oligopoly and monopolistic competition
Learning outcomes of the learning unit
The course's pedagogical objectives are:
1. Know the basic concepts/methods of microeconomics and their diverse representations
2. Use these mechanisms, and more generally a rigorous scientific approach, to:
2.A Understand and explain the socioeconomic phenomenon observed in the news
2.B Analyse the pro's and con's of various public policies
3. Be critical with respect to the approaches presented
These competences, knowledges and aptitudes are related with the following ILO's: 1b, 4, 6, 7 and 8.
Prerequisite knowledge and skills
Co-requis: Mathematics for Economic and management sciences (Part 1)
Planned learning activities and teaching methods
The course is composed of two complementary parts:
-the theoretical part (40h)
-the exercise session (15h)
In order to motivate the interest of the concepts/methods used, an inductive approach is followed.
Exercise sessions take place in smaller groups. Beware to participate to the session to which you have been assigned.
Mode of delivery (face-to-face ; distance-learning)
Students are encouraged to participate proactively to the online platform lol@. There debates and discussions related to the course will take place.
Recommended or required readings
Acemoglu, D., Laibson, D. et J.A. List (2016), Microéconomie, Pearson education.
Assessment methods and criteria
The exam is written, with closed books. It lasts for 3 hours and takes place during the exam session, in January. It is composed of 3 parts: a multiple choice and two open questions (one practical exercise and one theoretical question).
Work placement(s)
Organizational remarks
Contacts
Professor: Barnabe Walheer Office B. 31 - 1.47 Email: barnabe.walheer@uliege.be