Duration
40h Th, 15h Pr
Number of credits
Lecturer
Language(s) of instruction
French language
Organisation and examination
Teaching in the second semester
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit 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
- Costs curves
- Firm supply
- Monopoly
- Monopoly behavior
- Oligopoly
- Information technology
Learning outcomes of the learning unit
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
The course will allow students to demonstrate scientific precision and a critical mind in the analysis of a complex situation. Implementation : The course will train the student to take into account the interactions between the different functions of a company, an organization or a project when confronted with a complex situation. Quality and Performance Control : The course will teach the students to adopt a holistic perspective when analysing a complex management situation. Adaptability : The course will encourage students to be aware of the societal, economic, political and environmental issues in their studies as well as in their professional life. The course will encourage students to be curious and to show a scientific precision of academic level in their studies as well as in their professional life.
Prerequisite knowledge and skills
Introduction to economics (Econ 2280) or equivalent Mathematics (Math 0055, Math 0058) or equivalent
Planned learning activities and teaching methods
Class 2h30/week 6 exercise sessions of 2h Use of Moodle for various announcements
Mode of delivery (face-to-face ; distance-learning)
Face-to-face learning
Exercises in smaller groups
Recommended or required readings
Required readings:
Varian H. (2014), Introduction à la microéconomie, 8° édition en français, De Boeck.
or Varian H. (2014), Intermediate microeconomics, 9th edition
Exercises available on Moodle.
Assessment methods and criteria
Written exam
Work placement(s)
Organizational remarks
Class on Friday 8h00 - 10h30 (2° semester)
Contacts
Professor:
Bernard Thiry
CIRIEC, Buiding B33
Email: B.Thiry@uliege.be
Assistant:
Nadia De Zotti
HEC Liège, Buiding B31
Email : Nadia.DeZotti@uliege.be
Adaptation of teaching commitments following the COVID-19 pandemic for the May-June 2020 session
Teaching methods implemented : distance-learning
Videos both for theorical course and exercises sessions, as well as notebook with exercises resolutions
Assessment subjects
Chapters 2 to 6, 8, 10, 12, 14 to 16, 18 (only 18.1 and 18.2), 19, 20 (except 20.11), 21 (except 21.2 and 21.4), 22 to 26, 28 (except 28.11) and 38 (until beginning of section 6 p.814) of the 8th edition of the reference book.
Other unseen sections have been communicated during the face-to-face courses.
Assessment methods
The online and open-book exam will last a maximum of 2 hours and will consist of 5 open questions : 3 of theory and 2 exercices. More information will be communicated via Lola.
Contacts
Nadia De Zotti
Adaptation of teaching commitments following the COVID-19 pandemic for the Aug-Sept 2020 session
Assessment subjects
Chapters 2 to 6, 8, 10, 12, 14 to 16, 18 (only 18.1 and 18.2), 19, 20 (except 20.11), 21 (except 21.2 and 21.4), 22 to 26, 28 (except 28.11) and 38 (until beginning of section 6 p.814) of the 8th edition of the reference book.
Other unseen sections have been communicated during the face-to-face courses.
Assessment methods
The online and open-book exam will last a maximum of 2 hours and will consist of 5 open questions : 3 of theory and 2 exercices. More information will be communicated via Lola.
Contacts
Nadia De Zotti