Content of Learning Activity

The course is structured in 6 chapters :
1.  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                                                                  
2.  Labour market : perfect labour maket, supply of labour, demand for labour, wages and profits, equality and inequality, imperfect markets, monopsony, unions, bilateral monopoly, collective bargaining, efficicency wages, discrimination
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.
The peer tutoring sessions are conducted under the responsibility of third year students and the professor supervision : exchange of information on methods of work after first period of examination, organization of debates from texts of opinions within the discipline, look for and analyze economic papers, presentation,  powerpoint or video.

Required Learning Resources/Tools

Not applicable

Recommended Learning Resources/Tools

Not applicable

Other Recommended Reading

Sloman, J., Wride, A. and Garratt, D. (2015), Economics, Pearson Education Limited

Mode of delivery

• Remote

Type of Teaching Activity/Activities

• Travaux pratiques

Evaluations

The assessment methods of the Learning Activity (AA) are specified in the course description of the corresponding Educational Component (UE)