| Code | Lecturer(s) | Associate Lecturer(s) | Subsitute Lecturer(s) et other(s) |
|---|---|---|---|
| W-AETR-020 |
|
| Language of instruction | Language of assessment | HT(*) | HE(*) | HTP(*) | HR(*) | HD(*) | Term |
|---|---|---|---|---|---|---|---|
| Français | Français | 40.00 | 14.00 | 34.00 | 2nd term |
Contents
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
Notes d'exercices - Partie 2 - Travaux pratiques en Economie Politique - Partie (II) - DUPONT, MAHY
Required Learning Resources/Tools
Not applicable
Recommended Reading
Recommended Learning Resources/Tools
Not applicable
Other Recommended Reading
Sloman, J., Wride, A. and Garratt, D. (2012), Economics, Pearson Education Limited
Mode of delivery
- Face to face
Type of Teaching Activity/Activities
- Course
- Practical works
Term 1 Assessment - type
- N/A
Term 1 Assessment - comments
Not applicable
Term 2 Assessment - type
- Written examination
Term 2 Assessment - comments
A 2 hours 45’ written examination is organised in June. It consists of 10 multiple choice questions (6 points) in order to test for students’ ability to understand and apply concepts, of 2 long questions (10 points) to test for understanding and assimilating concepts, and of 2 graded exercises (4 points) to test whether students can mobilize concepts in order to solve problems
Term 3 Assessment - type
- Written examination
Term 3 Assessment - comments
A 2 hours 45’ written examination is organised in August. It consists of 10 multiple choice questions (6 points) in order to test for students’ ability to understand and apply concepts, of 2 long questions (10 points) to test for understanding and assimilating concepts, and of 2 graded exercises (4 points) to test whether students can mobilize concepts in order to solve problems
Resit Assessment - Term 1 (B1BA1) - type
- N/A
Resit Assessment - Term 1 (B1BA1) - Comments
Not applicable