Economics - Part 2

		Study programme	Français
		Economics - Part 2
		Activité d'apprentissage à la Warocqué School of Business and Economics

Code	Lecturer(s)	Associate Lecturer(s)	Subsitute Lecturer(s) et other(s)
W-AETR-020	MAHY Benoît

Language of instruction	Language of assessment	HT(*)	HTPE(*)	HTPS(*)	HR(*)	HD(*)	Term
Français	Français	54	16	0	28	0	Q2

Content of Learning Activity

The course structure consists of 6 chapters : 1. 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 2. Profit maximising under imperfect competition: firm equilibrium(production and price) under monopolistic competition or oligopoly, competition and collusion, expectations and strategy, the importance of timing, strategic behaviour to prevent entry, price discrimination, monopolistic competition or oligopoly and the public interest 3. National economy : major macroeconomic issues, circular flow of income, withdrawals and injections, measuring economic activity in terms of production, income and expenditures, measuring growth and inflation, equilibrium in the circular flows, GDP and country’s well-being 4. Short run macroeconomic equilibrium : relationship between aggregate demand and national income, consumption, investment, government expenditures, exports and imports functions, determination of national income, verbal, analytical and numerical approaches of multiplier effects from (autonomous) demand components on economic activity, role of government and foreign countries 5. Money and interest rates : meaning and functions of money, financial system, definition and measures of money supply, the role of private and central banks in creating money, money supply and the interest rate, transactions-precautionary and speculative demand for money, money market equilibrium and chocks 6. General equilibrium : relationship between investment, consumption and interest rate, money supply and economic activity, fiscal policy and crowding out of investment, general equilibrium on goods (IS) and money (LM) markets, (mixed) fiscal and monetary policy impacts on economic activity and interest rate, managing aggregate demand

Required Reading

Required Learning Resources/Tools

Not applicable