Study programme 2022-2023 | Français | ||
Political Economics and Tutorials 1 | |||
Programme component of Bachelor's (MONS) (day schedule) à la Warocqué School of Business and Economics |
Code | Type | Head of UE | Department’s contact details | Teacher(s) |
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UW-B1-SGEGIG-013-M | Compulsory UE | MAHY Benoît | W718 - Economie |
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Language of instruction | Language of assessment | HT(*) | HTPE(*) | HTPS(*) | HR(*) | HD(*) | Credits | Weighting | Term |
---|---|---|---|---|---|---|---|---|---|
| Français | 44 | 22 | 0 | 30 | 0 | 6 | 6.00 | 1st term |
AA Code | Teaching Activity (AA) | HT(*) | HTPE(*) | HTPS(*) | HR(*) | HD(*) | Term | Weighting |
---|---|---|---|---|---|---|---|---|
W-AETR-003 | Political Economics and Tutorials 1 - AAEP | 40 | 20 | 0 | 30 | 0 | Q1 | |
W-AETR-004 | Political Economics and Tutorials 1 - AAEHP | 4 | 2 | 0 | 0 | 0 | Q1 |
Programme component |
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Objectives of Programme's Learning Outcomes
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.
UE Content: description and pedagogical relevance
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.
The learning activities of the "UE" are completely complementary and differ only in the way they are taught.
Prior Experience
Not applicable
Type(s) and mode(s) of Q1 UE assessment
Q1 UE Assessment Comments
A 2 hours 45' written examination is organised in January and counts for 85% 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 15% relate to Peer tutoring sessions: active and appropriate participation in tutoring sessions (4 points), oral presentation (8 points) and written work (8 points).
Type(s) and mode(s) of Q1 UE resit assessment (BAB1)
Q1 UE Resit Assessment Comments (BAB1)
A 1 hour 45' written examination is organised in June and counts for 85% 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 15% relate to Peer tutoring sessions: active and appropriate participation in tutoring sessions (4 points), oral presentation (8 points) and written work (8 points).
Type(s) and mode(s) of Q3 UE assessment
Q3 UE Assessment Comments
A 1 hour 45' written examination is organised in August and counts for 85% 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 Teaching Activity/Activities
AA | Type of Teaching Activity/Activities |
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W-AETR-003 |
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W-AETR-004 |
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Mode of delivery
AA | Mode of delivery |
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W-AETR-003 |
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W-AETR-004 |
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Required Reading
AA | Required Reading |
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W-AETR-003 | Note de cours - Travaux pratiques en économie politique - Partie 1 - Dupont, Claire; Fays, Valentine; Mahy, Benoît |
W-AETR-004 |
Required Learning Resources/Tools
AA | Required Learning Resources/Tools |
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W-AETR-003 | Not applicable |
W-AETR-004 | Not applicable |
Recommended Learning Resources/Tools
AA | Recommended Learning Resources/Tools |
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W-AETR-003 | Not applicable |
W-AETR-004 | Not applicable |
Other Recommended Reading
AA | Other Recommended Reading |
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W-AETR-003 | Sloman, J., Wride, A. and Garratt, D. (2015), Economics, Pearson Education Limited |
W-AETR-004 | Sloman, J., Wride, A. and Garratt, D. (2015), Economics, Pearson Education Limited |