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
The course is an introduction to Political Economy based on concrete examples.
After a short introduction, the course is divided in two parts:
- 1. The perfect competition model: Supply and demand, producers, consumers, efficiency, elasticity and the intervention of the State in the economy.
- 2. Extentions to the perfect competition model: Externalities and public goods, imperfect competition, game theory, trade, production factors and risk and information asymmetry.
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 ("Outils Mathématiques") are available on Lol@ to all students in order to help them overcoming the needed mathematics.
Mode of delivery (face to face, distance learning, hybrid learning)
The podcasts (from 2020) of all courses are available on MyULiège.
On Lol@, Students have access to:
- the PowerPoint presentation of the teacher
- 'Questions de comprehension', which are training questions solved after the theoretical sessions
- exercises and their correction
- support tools on mathematics ('Guidances Mathematiques')
- previous exams (and there correction before the winter holiday).
Organisational adjustments related to the current health context
Recommended or required readings
There is no mandatory book: the PowerPoint presentations, available on Lol@, are the only necessary material.
Students willing to deepen their understanding of the course can consult the following books in the Graulich library (B31) (though the evaluation in based on the concepts and terminology used in the theoretical course):
- Acemoglu D., Laibson D., et List J.A. (2018), Introduction à l'économie, Pearson education.
- Krugman, P. R., & Wells, R. (2019). Microéconomie. De Boeck Supérieur.
- Mankiw, N. G. (2014). Principes de microéconomie. Modulo.
- Varian, H. (2014), Introduction à la microéconomie, 8° édition en français, De Boeck.
Assessment methods and criteria
Below you will find information on the evaluation methods planned for in-person and remote exams as well as those planned for hybrid sessions. Depending on how the health crisis evolves, the chosen method will be communicated to you no later than one month before the start of the exam session.
Any session :
- In-person
written exam ( multiple-choice questionnaire, open-ended questions )
- Remote
written exam ( multiple-choice questionnaire, open-ended questions )
- If evaluation in "hybrid"
preferred in-person
Additional information:
Written, closed books exam. 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 (see examples on Lol@). More practical details during the session 'Préparation à l'examen' .
Students can also acquire 1 bonus point on their final note by doing homeworks (see Lol@). See conditions in the 'Devoir' file on Lol@.
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