Objectives of Programme's Learning Outcomes

• Implement an academic view on knowledge, particularly through the mastery of methods and literature research tools.
• Understand, synthesise and discuss complex information and texts on economics and management.
• Develop and structure reasoning by basing it on suitable scientific arguments
• Actively master the fundamental concepts and models of economic sciences and management sciences
• Identify and explain the concepts, principles and models of fundamental theoretical trends in economic sciences and management sciences and their applications.
• Understand how organisations and markets work
• Understand the methods and tools adapted to the field of economics and management
• Mobilise communication skills in two languages other than French, both orally and in writing, as a presentation of an argument or piece of research in accordance with scientific ethics.
• Communicate in a clear and structured manner on issues of economics and management
• Demonstrate working and analytical rigour.
• Be rigorous and independent in learning, particularly through adequate planning of activities to be undertaken in order to best utilise the time available.
• Demonstrate self-awareness, assess themself, and adapt.

Learning Outcomes of UE

At the end of the course, future economists or businessmen will be able to understand some economic analysis fundamentals. The course provides them first tools in order to (1) apprehend market behaviour, (2) approach the impact of public policy on consumers and producers, (3) tackle costs, revenues and the associated profit maximisation process in order to determine what and at what price to produce in the short and the long run, (4) rationally decide on the level of its production and prices (if possible) in case of extreme market structures, i.e. with complete or without competition, and (5) understand the consumption decision process in different kinds of situations associated for instance to income or prices.
At the end of peer tutoring, they will also (6) acquire skills through document research, achieving and presenting a first economic or social work at a university level.

Content of UE

The course is structured in 6 chapters :
1. Introducing economics : what do economists study ?, macro and micro economics, the problem of scarcity, economic systems, economic reasoning;
2. Markets in action : supply and demand from graphical, analytical and verbal perspectives, supply and demand determinants, price-output equilibrium and chocks, price elasticity of demand and supply, income and cross-price elasticity of demand,  short run and long run adjustment, price expectations and speculation;
3. Public policy : impacts of the control of prices (by setting minimum or maximum prices) and of the ad valorem or specific indirect taxation on consumers and producers;
4. Background to supply (production) : law of diminishing returns, economies of scale, costs and productivity in the short run and in the long run, mean, marginal and total, revenues depending on firms market power, profit maximisation by using total or marginal approaches;
5. Background to demand (consumption) : indifference curves and marginal rate of substitution, budget line and relative prices, optimum consumption and its relation with prices and income, individual's and market's demand curves, income and substitution effects of a price change, normal or inferior goods, substitute or complementary goods.
6.  Profit maximising  under perfect competition and monopoly: revenues, costs and equilibrium (production and price) at firm and sectoral levels, in the short run and in the long run, external economies of scale, barriers to entry, perfect competition or monopoly and the public interest, contestable markets
The peer tutoring sessions are conducted under the responsibility of third year students and the professor supervision : getting to know other students, methodological advices, sharing of experience, introduction to certain digital platforms, group work about economic subject, assessed presentation and written work in accordance with instructions (academic norms) -tutor assistance

Prior Experience

Not applicable

Type of Assessment for UE in Q1

• Presentation and/or works
• Written examination

Q1 UE Assessment Comments

A 2 hours 30' written examination is organised in January and counts for 90% of the total. It consists of 10 multiple choice questions (6 points) in order to test for students' ability to understand and apply concepts, of 1 long question (8 points) to test for understanding and assimilating concepts, and of 2 graded exercises (6 points) to test whether students can mobilize concepts in order to solve problems.
The remaining 10% relate to Peer tutoring sessions: active and appropriate participation in tutoring sessions (6 points), oral presentation (6 points) and written work (8 points).

Type of Assessment for UE in Q3

• Written examination

Q3 UE Assessment Comments

A 1 hour 30' written examination is organised in August and counts for 90% of the total. It consists of 5 multiple choice questions (6 points) in order to test for students' ability to understand and apply concepts, of 1 long question (8 points) to test for understanding and assimilating concepts, and of 1 graded exercise (6 points) to test whether students can mobilize concepts in order to solve problems.
There is no evaluation at Q3 for tutoring activities (10% of the total).

Type of Resit Assessment for UE in Q1 (BAB1)

• Presentation and/or works
• Written examination

Q1 UE Resit Assessment Comments (BAB1)

A 1 hour 30' written examination is organised in June and counts for 90% of the total. It consists of 5 multiple choice questions (6 points) in order to test for students' ability to understand and apply concepts, of 1 long question (8 points) to test for understanding and assimilating concepts, and of 1 graded exercise (6 points) to test whether students can mobilize concepts in order to solve problems.
The remaining 10% relate to Peer tutoring sessions: active and appropriate participation in tutoring sessions (6 points), oral presentation (6 points) and written work (8 points).