6 ECTS credits
160 h study time

Offer 2 with catalog number 1000319ANR for all students in the 1st semester at a (A) Bachelor - preliminary level.

Semester
1st semester
Enrollment based on exam contract
Impossible
Grading method
Grading (scale from 0 to 20)
Can retake in second session
Yes
Taught in
Dutch
Faculty
Faculty of Social Sciences & SolvayBusinessSchool
Department
Applied economics
Educational team
Bruno Heyndels (course titular)
Alan Al Yussef
Pauline Le Boulaire
Sarah Buelens
Activities and contact hours

24 contact hours Lecture
33 contact hours Seminar, Exercises or Practicals
121 contact hours Independent or External Form of Study
Course Content

The conflict between (indefinite) wants and scarce resources at our disposal is the starting point of economic analysis.  The micro-economic way of thinking is introduced to the students through the analysis and illustration of basic concepts and their functioning.   The interaction between demand and supply as well as the resulting working of the market are introduced. Specific attention is given to the role of both the demand side (consumers) and the supply side (producers).   Different market structures are discussed and analyzed (monopoly, oligopoly, monopolistic competition, perfect competition).  Market failures as well as the function of government are discussed.

The themes (see below) are treated intuitively, graphically and - where applicable - analytically.

  • HOC 01: Mankiw’s 10 principles / Market (demand & supply)
  • HOC 02: Elasticity and applications
  • HOC 03: Consumer behavour
  • HOC 04: Perfect competition
  • HOC 05: Market-efficiency / Production decisions
  • HOC 06: Monopoly
  • HOC 07: Monopolistic competition 
  • HOC 08: Oligopoly
  • HOC 09: Public goods, common resources, merit goods
  • HOC 10: External effects and market failure
  • HOC 11: Interdependence and gains from trade
  • HOC 12: Extra lecture
Course material
Handbook (Required) : Economics, Mankiw, N. G. and Taylor, M. P., 5de, Cengage, 9781473768543, 2020
Digital course material (Required) : Opdrachten, Canvas
Additional info

The course consists of lectures where the theoretical concepts are discussed, and exercises.

Learning Outcomes

General Competencies

Students learn the economic way of thinking and basic micro-economic concepts and can apply these concepts in realistic settings.

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 exam on theory & applications/exercises (open and/or multiple choice)

Additional info regarding evaluation

Not applicable

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 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: Minor Minor Education (only offered in Dutch)
Bridging Programme Master of Science in Management: Traject 2 (only offered in Dutch)
Bridging Programme Master of Science in Management: Traject 3 (only offered in Dutch)
Bridging Programme Master of Science in Management: Traject 4 (only offered in Dutch)
Bridging Programme Master of Science in Management: Traject 1 (only offered in Dutch)
Bridging Programme Master of Science in Management: Traject 5 (only offered in Dutch)
Bridging Programme Master of Science in Management: Traject 6 (only offered in Dutch)