Objectives of general skills

• 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.

UE's Learning outcomes

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 and (4) understand the consumption decision process in different kinds of situations associated for instance to income or prices. They will also (5) acquire skills through achieving and presenting a first economic or social work at a university level.

UE Content

The course is structured in 5 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. Il is completed by (6) an analysis conducted in subgroups, where students deal with an economic or social topic. In this context, they perform a written work and present it to the teacher and other students.

Prior experience

Not applicable

Term 1 for Integrated Assessment - type

• Presentation and works
• Written examination

Term 2 for Integrated Assessment - type

• N/A

Term 3 for Integrated Assessment - type

• Presentation and works
• Written examination

Resit Assessment for IT - Term 1 (B1BA1) - type

• Presentation and works
• Written examination