3 ECTS credits
80 u studietijd

Aanbieding 1 met studiegidsnummer 3020308DNW voor werkstudenten in het 1e semester met een inleidend master niveau.

1e semester
Inschrijving onder examencontract
Niet mogelijk
Beoordeling (0 tot 20)
2e zittijd mogelijk
Faculteit Sociale Wetensch & SolvayBusinessSchool
Verantwoordelijke vakgroep
Toegepaste economie
Luc Hens (titularis)
Onderdelen en contacturen
24 contacturen Hoorcollege
56 contacturen Zelfstudie en externe werkvormen

Economics for Business introduces students pursuing a graduate degree in business to the principles of (mostly micro-) economics. Topics include: supply and demand, elasticity, applications of supply and demand, the costs of production, firms in competitive markets, monopoly.               

Economics for Business aims to teach students majoring in business how to think like an economist, and provide them with the basic tools of economics that help understand the markets in which they operate, the economic decision problems they face, and the wider economic environment.

Handboek (Vereist) : Economics, Mankiw, N. G. and Taylor, M. P., 5th edition, Andover: Cengage Learning, 9781473768543, 2020
Digitaal cursusmateriaal (Vereist) : Economics for Business: Course Syllabus, Hens, L., Canvas, 2021
Bijkomende info

A course syllabus is available on the learning platform. The course syllabus contains a detailed description of the material covered in the course, including a week by week schedule of activities.

Follow the economic news in the press by reading a financial newspaper such as the Financial Times or the The Economist (a weekly newspaper). Both are available in the library.

I regularly post news items on the learning platform.
Keep a file with newspaper clippings related to economics subjects.

Teaching Methods

  • Lecture: collective contact-dependent moments during which the lecturer engages with learning materials
  • Seminar, Exercises or Practicals (Practical): collective or individual contact-dependent moments during which the students are guided to actively engage with learning materials
  • Independent or External Form of Study (Self): independent study

This description of the teaching methods is indicative, in order to assess the expected study load.

Lecture: 24 hours

Self: 56 hours

  • keeping up with the course material during the semester, amounting to 1 hour per hour of lectures: 24 hours
  • solving exercises independently: 16 hours
  • preparation for the exam: 16 hours (2 days of 8 hours)

General competencies

The student develops (parts of) competences two and three described in Hansen, W. (2001). Expected proficiencies for undergraduate economics majors. Journal of Economic Education, 32(3): 231–242.
1. The student can explain key economic concepts and describe how these concepts can be used to understand how markets work, to improve business decisions. 
2. The student can explain and evaluate what economic concepts and principles are used in economic analyses published in daily newspapers and weekly news magazines. The student can describe how these concepts aid in understanding these analyses.  


De beoordeling bestaat uit volgende opdrachtcategorieën:
Examen Schriftelijk bepaalt 100% van het eindcijfer

Binnen de categorie Examen Schriftelijk dient men volgende opdrachten af te werken:

  • Written Exam met een wegingsfactor 100 en aldus 100% van het totale eindcijfer.

Aanvullende info mbt evaluatie

Written examination.

One part of the exam asks you to apply what you have learned by working problems (similar to the end-of-chapter problems in the textbook), case studies, or by commenting at length on statements from the business and financial press, using the economist's analytical toolbox. If the number of students is large, another part of the examination consists of multiple choice questions (with standard correction for guessing).

Toegestane onvoldoende
Kijk in het aanvullend OER van je faculteit na of een toegestane onvoldoende mogelijk is voor dit opleidingsonderdeel.

Academische context

Deze aanbieding maakt deel uit van de volgende studieplannen:
Master of Physics and Astronomy: Minor Economy and Business (enkel aangeboden in het Engels)
Voorbereidingsprogramma Master of Science in Management: Academische Master (enkel aangeboden in het Engels)
Voorbereidingsprogramma Master of Science in Management: Academische Bachelor (enkel aangeboden in het Engels)