Duration
40h Th, 15h Pr
Number of credits
| Bachelor in economics and business management | 5 crédits | |||
| Bachelor in business engineering | 5 crédits | |||
| Master in economics : general (60 ECTS) | 5 crédits |
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, hybrid 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