6 ECTS credits
160 h study time

Offer 2 with catalog number 1000335BNR for all students in the 1st semester at a (B) Bachelor - advanced level.

Semester
1st semester
Enrollment based on exam contract
Impossible
Grading method
Grading (scale from 0 to 20)
Can retake in second session
Yes
Enrollment Requirements
Je hebt ‘Wiskunde I voor TEW’ of 'Wiskunde I voor HI' en 'Inleiding Micro-economie' gevolgd, alvorens ‘Micro-economie’ op te nemen.​
Taught in
Dutch
Faculty
Faculty of Social Sciences & SolvayBusinessSchool
Department
Applied economics
Educational team
Nikolas Vander Vennet (course titular)
Activities and contact hours
24 contact hours Lecture
24 contact hours Seminar, Exercises or Practicals
154 contact hours Independent or External Form of Study
Course Content

The course focuses on micro-economic behaviour by consumers and firms. The starting point is a rational actor that minimizes (or maximizes) an objective function subject to constraints. Rational consumers maximize utility under a budget constraint. Rational firms maximize profit (or another objective) under technological and market constraints. This starting point is applied in many contexts. Strengths and weaknesses of the economic method are treated explicitly. Consumer behaviour is analyzed in an intertemportal setting, in asset markets, in situations of uncertainty, ... The limits of standard microeconomic thinking are also treated by considering alternative frameworks like Behavioral Economics. Producer behaviour is analyzed in different market structures (monopoly, oligopoly, monopolistic competition, perfect competiion) and under hypotheses of symmetric and asymmetric information. Game theoretical insights are introduced.

Course material
Handbook (Recommended) : Intermediate Microeconomics with calculus, A modern approach, Hal Varian, 9de, W.W. Norton, 9780393690019, 2019
Digital course material (Recommended) : Powerpoints and documents on Canvas, Canvas
Additional info

Not applicable.

Learning Outcomes

General competencies

  • Students obtain insight in the economic analysis of consumer and producer behaviour (as in the interaction between these). 
  • Students learn how these insights (see above) can be improved through fromal-mathematical analysis thus augmenting their analytical problem solving skills.
  • Students learn the strengths and weaknesses of the economic method (by contrasting it to alternative approaches like behavioural economics).

Grading

The final grade is composed based on the following categories:
Written Exam determines 100% of the final mark.

Within the Written Exam category, the following assignments need to be completed:

  • Written Exam with a relative weight of 1 which comprises 100% of the final mark.

    Note: written examen (theory and exercises) _ open questions and mulpitple choice

Additional info regarding evaluation

The students can earn 1,5 bonus points throughout the year. The organization of this points system will be communicated at the beginning of the academic year.

Allowed unsatisfactory mark
The supplementary Teaching and Examination Regulations of your faculty stipulate whether an allowed unsatisfactory mark for this programme unit is permitted.

Academic context

This offer is part of the following study plans:
Bachelor of Business Engineering: Default track (only offered in Dutch)
Bachelor of Business Engineering: Verkort traject na vooropleiding Professionele bachelor Bedrijfsmanagement met Afstudeerrichting Accountancy-fiscaliteit of Financie- en verzekeringswezen (only offered in Dutch)
Bachelor of Business Engineering: Verkort traject na vooropleiding Professionele bachelor Bedrijfsmanagement met Afstudeerrichting Logistiek Management of Professionele bachelor toegepaste informatica (only offered in Dutch)
Bachelor of Business Engineering: Verkort traject na vooropleiding Professionele bachelor Bedrijfsmanagement met Afstudeerrichting Marketing (only offered in Dutch)
Bachelor of Business Engineering: Verkort traject na vooropleiding Industriële wetenschappen of Ingenieurswetenschappen (only offered in Dutch)
Bachelor of Business Economics: Default track (only offered in Dutch)
Bachelor of Business Economics: Minor Political Science (only offered in Dutch)
Bachelor of Business Economics: Minor Law (only offered in Dutch)
Bachelor of Business Economics: Minor Sociology (only offered in Dutch)
Bachelor of Business Economics: Minor Philosophy and Moral Sciences (only offered in Dutch)
Bachelor of Business Economics: Minor Management and Policy in Health Care (only offered in Dutch)
Bachelor of Business Economics: Verkort traject na vooropleiding Professionele bachelor Bedrijfsmanagement met Afstudeerrichting Accountancy-fiscaliteit of Financie- en verzekeringswezen (only offered in Dutch)
Bachelor of Business Economics: Verkort traject na vooropleiding Professionele bachelor Bedrijfsmanagement met Afstudeerrichting Logistiek Management of Professionele bachelor toegepaste informatica (only offered in Dutch)
Bachelor of Business Economics: Verkort traject na vooropleiding Professionele bachelor Bedrijfsmanagement met Afstudeerrichting Marketing (only offered in Dutch)
Bachelor of Business Economics: Minor Minor Education (only offered in Dutch)
Bridging Programme Master of Teaching in Economics: Standaard traject (only offered in Dutch)
Preparatory Programme Master of Science in Business Economics: Standaard traject (only offered in Dutch)