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 (ECON2280) is an introduction to political economy and more precisely to microeconomics. It introduces various concepts and methods to the studentsin order to better understand various empirical socio-economic phenomena. It is hinged around 5 main topics
1. Introduction to economics: Economics: principles and applications (session 1) and the principle of optimization (session 2).
2. Perfect competition: the supply and demand (session 3), the consumers (session 4), the producers (session 5) and perfect competition (session 6).
3. The market failures: state interventions in the economy (session 7) and externalities and public goods (session 8).
4. Imperfect competition: imperfect competition (session 9), game theory (session 10), risk and information asymmetry (session 13).
5. Exchange and production factors: commercial exchanges (session 11) and the market of production factors (session 12).
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): given by the teacher in aula
-the exercise session (15h): given by the assistant or student-monitor in small group
In order to motivate the interest of the concepts/methods used, an inductive approach is followed. Practical, real-life cases are used to demonstrate the usefullness of the concepts and methods learned.
Mathematics are a tool for economics: they will be used to answer the practical questions. Support material ("Guidance Math") are available on Lol@ to all students in order to help them overcoming the needed mathematics.
Mode of delivery (face-to-face ; distance-learning)
Students have access to slides, exercices and their correction, support tools on mathematics and corrected previous exams on Lol@.
This platform is also used to upload the weekly housework.
Students can ask questions to the teacher and his assistant on Lol@ or by e-mail.
Recommended or required readings
Recommended (but not mandatory): Acemoglu D., Laibson D., and List J.A. (2018), Introduction à l'économie, Pearson education.
Also appropriate (older version of the recommended book, covering only microeconomics) : Acemoglu D., Laibson D. and List J.A. (2016), Microéconomie, Pearson education.
Assessment methods and criteria
The exam is written, with closed books and lasts for 3 hours. It takes place during the exam session of January (with retakes in June and August). It is composed of 2 parts: a part with multiple choice questions and another part with open questions (links between concepts, sentences to comment, cases to analyze). Each part is worth half of the final note. The open questions are corrected only if the student obtains at least 2,5/10 to the MCQ. Below this threshold, the final note of the student will be the note of the MCQ.
Students can also acquire 1 bonus point on their final note. This bonus will be granted if the student satisfies the 3 following conditions:
- Condition 1: Each housework has been submited, on time.
- Condition 2: The content of the housework is consistent and uses the concepts seen in class.
- Condition 3: Answers are a personal output (no copy-past from the course/other homeworks) in which the student appropriates the course.
Work placement(s)
Organizational remarks
Contacts
Professor: Barnabe Walheer, room 1.47 (B31) E-mail: barnabe.walheer@uliege.be
Assistant: Thibault Piron, room 1.49 (B31) E-mail: thibault.piron@uliege.be
Adaptation of teaching commitments following the COVID-19 pandemic for the May-June 2020 session
Teaching methods implemented : distance-learning
Assessment subjects
Assessment methods
The exam will take the form of an online test of maximum 2 hours, composed of two parts:
- 10 Multiple Choice Questions
- some open questions.
More information have been sent on Lol@.
Contacts
Adaptation of teaching commitments following the COVID-19 pandemic for the Aug-Sept 2020 session
Assessment subjects
All the course material seen in the 1st semester
Assessment methods
The exam will take the form of an online test of maximum 2 hours, composed of two parts:
- 10 Multiple Choice Questions
- some open questions.
More information have been sent on Lol@.
Contacts
Professor: Barnabe Walheer, room 1.47 (B31) E-mail: barnabe.walheer@uliege.be
Teaching Assistant: Thibault Piron, room 1.49 (B31) E-mail: thibault.piron@uliege.be