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.
• Summarise the contributions of different sources to justify an opinion or decision
• 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
• Acquire basic methodological tools necessary for scientific inquiry in the field of economics and management.
• Conduct relevant research from scientific literature and select appropriate elements with respect to a particular research topic.
• Describe the principles of methodological approaches (objectives, methods, techniques and tools) to understand and explain the functioning of organisations and markets.
• Give a critique and argue a point of view as part of a scientific approach
• 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.
• Understand, synthesise and discuss complex information and texts, expressed in English and at least one other language.
• Communicate in a clear and structured manner on issues of economics and management
• Critically compare knowledge acquired to real situations.
• Identify and explain the concepts, principles and models of fundamental theoretical trends in economic sciences and management sciences and their applications.
• Develop and structure reasoning by basing it on suitable scientific arguments
• Demonstrate an acute sense of analysis, criticism and ethics in relation to various issues in 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.
• Develop their scientific curiosity and open-mindedness
• Demonstrate self-awareness, assess themself, and adapt.
• Actively master a knowledge base in human, legal and social sciences, essential for analysing problems in economics and management.
• Understand the implications of different human sciences on the way organisations and markets work.
• Understand extensive problems in certain areas of econonomics and management.
• 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.
• Summarise the contributions of different sources to justify an opinion or decision
• 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
• Acquire basic methodological tools necessary for scientific inquiry in the field of economics and management.
• Conduct relevant research from scientific literature and select appropriate elements with respect to a particular research topic.
• Describe the principles of methodological approaches (objectives, methods, techniques and tools) to understand and explain the functioning of organisations and markets.
• Give a critique and argue a point of view as part of a scientific approach
• 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.
• Understand, synthesise and discuss complex information and texts, expressed in English and at least one other language.
• Communicate in a clear and structured manner on issues of economics and management
• Demonstrate an acute sense of analysis, criticism and ethics in relation to various issues in economics and management.
• Critically compare knowledge acquired to real situations.
• Identify and explain the concepts, principles and models of fundamental theoretical trends in economic sciences and management sciences and their applications.
• Develop and structure reasoning by basing it on suitable scientific arguments
• Demonstrate an acute sense of analysis, criticism and ethics in relation to various issues in 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.
• Develop their scientific curiosity and open-mindedness
• Demonstrate self-awareness, assess themself, and adapt.

Learning Outcomes of UE

This UE first covers a Seminar in labour economics, during which students learn how to apply labour economics concepts and mecanisms to a topic related to wages. They also learn how to build a rigorous and well-argued approach in order to suggest policy recommandations with respect to the investigated topic.    This UE also covers Microeconomic complements through Microeconomics 3 lectures. After this course, the students will be able to develop a business plan repositioning an industrial European company. Secondly, the students will learn to understand and present the key ideas of a scientific article, including articles in English. Finally, the participants will develop a critical view on society and refine standard economic models by presenting the main messages from an economic book written for the wider public.  Next, Macroeconomic analysis 2 allows the student  to investigate further the economy in the short and long term with the theory of economic growth, but also the aggregated demand and supply in the open economy. Fixed and floating exchange rates will also be discussed. The student will also be led to deepen the macroeconomic theory through the application of models (Keynes, Fisher, Modigliani, etc.) to questions of economic policy.

Content of UE

This UE first covers a Seminar in labour economics, during which groups of 3 students analyse a topic related to wage determination (bargaining, wage determination at the firm level, wage discrimination,...). They consider recommended references and also search for additional references in order to realise a survey that enables then to answer three questions, namely (i) what does the topic consist of and how can it be understood (what are the underlying mechanisms)? (ii) what happens with respect to Belgian and/or European evidence? (iii) what kind of policies could be suggested? Papers have first to be written and next to be presented and discussed.    This UE also covers Microeconomics 3. The course will develop the main foundations of price theory, investment theory, behavioural economics, market failures and related regulations. The students will make four presentations: a discussion based on a case study of an industrial firm, two presentations based on two scientific articles and a summary based on a book written by a Nobel prize winner in economics. Both the articles and the book can be chosen by the student.  Next, Macroeconomic analysis 2 proposes to cover the following contents: (Long term, economic growth): Solow's model and capital accumulation, population growth, Solow's model and technological progress, differences in inter-country living standards and economic policies, endogenous growth; (Short term, aggregated demand in open economy): Mundell-Fleming's model, fixed exchange rates, floating exchange rates, fixed or floating in small open economy; (Deepening macroeconomic theory, development of the simple model of aggregated supply and demand): aggregate supply and demand summaries, uses of the simple dynamic model, two monetary policy applications; (Consumer behavior): Keynesian consumption function, Fisher's model of intertemporal choices, Life cycle hypothesis of Modigliani, Friedman's permanent income assumption, Hall's random walk hypothesis, Laibson's immediate gratification model; (Investment): firms, residential, stock; (Economic Policy Insights, reactions of public policies to economic fluctuations): monetary and budgetary policies: active or passive?, monetary and budgetary policies: regulation or discretion?

Prior Experience

UW-B2-SGEGIG-001-M - Microeconomics 1 ; UW-B2-SGEGIG-002-M - Macroeconomics

Type of Assessment for UE in Q2

• Presentation and/or works
• Oral Examination
• Written examination

Q2 UE Assessment Comments

The evaluation of the Seminar in labour economics is based on the quality of the paper in order to answer the three questions, of the oral presentation and the discussion.  The assessment of the course Microeconomics 3 is based on the quality of the presentations and answers during the classes. This will count for 80% of the final mark, whereas an oral exam at the end of the semester will count for the remaining 20%. The evaluation in Macroeconomic analysis 2 is based on a written examination which lasts 2 hours 30' and which is made of multiple choice questions, theoretical questions and cases analysis and/or an oral examination and a written work according to the number of students enrolled together with the choice of the professor.

Type of Assessment for UE in Q3

• Presentation and/or works
• Oral examination
• Written examination

Q3 UE Assessment Comments

The evaluation of the Seminar in labour economics is based on the quality of the paper in order to answer the three questions, of the oral presentation and the discussion.  The assessment of the course Microeconomics 3 is based on the quality of the presentations and answers during the classes. This will count for 80% of the final mark, whereas an oral exam at the end of the semester will count for the remaining 20%. The evaluation in Macroeconomic analysis 2 is based on a written examination which lasts 2 hours 30' and which is made of multiple choice questions, theoretical questions and cases analysis and/or an oral examination and a written work according to the number of students enrolled together with the choice of the professor.