6 ECTS credits
178 h study time

Offer 1 with catalog number 1021454AER for all students in the 1st semester at a (A) Bachelor - preliminary level.

Semester
1st semester
Enrollment based on exam contract
Possible
Grading method
Grading (scale from 0 to 20)
Can retake in second session
Yes
Taught in
English
Faculty
Faculty of Social Sciences & SolvayBusinessSchool
Department
Applied economics
Educational team
Bruno Heyndels
Stijn Van Puyvelde (course titular)
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.

Course material
Handbook (Required) : Economics, Mankiw, N. G. and Taylor, M. P., 5de, Andover: Cengage Learning, 9781473768543, 2020
Digital course material (Required) : Course slides, Canvas
Additional info

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

Learning Outcomes

General competences

Students learn the economic way of thinking and basic micro-economic concepts.  They 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 100 which comprises 100% of the final mark.

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 Economics: Startplan Business Economics
Bachelor of Business Economics: Business and Technology
Bachelor of Business Economics: International Business
Preparatory Programme Master of Science in International Business: Default track
Preparatory Programme Master of Science in Business Engineering: Business and Technology: Default track