Business and Economics

3 ECTS credits
89 h study time

Offer 1 with catalog number 1001714AER 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

Enrollment Requirements

Alvorens men als student Bachelor in de Bio-ingenieurswetenschappen een inschrijving kan nemen voor 'Economie en bedrijfsleven' moet men 33SP behaald hebben van de module basiswetenschappen. Voor studenten in andere opleidingen zijn er geen pre- of corequisites.

Taught in

Dutch

Faculty

Faculty of Social Sciences & SolvayBusinessSchool

Department

Business

Educational team

Ilse Scheerlinck (course titular)
Michaël Pascal D Distelmans

Activities and contact hours

26 contact hours Lecture
63 contact hours Independent or External Form of Study

Course Content

1. Principles of economics

MICROECONOMICS

2. The market: demand and supply

3. Elasticity

4. Application of demand and supply: allocative efficiency

5. Costs and revenues of the firm

6. Market structures

7. Market failures and government intervention

MACROECONOMICS

8. Measuring economic activity

9. Key macroeconomic indicators and policy

10. Banking, money, and interest rates

11. Aggregate demand and aggregate supply

INTERNATIONAL ECONOMICS

12. The international perspective

Course material

Course text (Required) : Economie en Bedrijfsleven, (Economics for Business), Scheerlinck, VUB, 2220170005492, 2018
Digital course material (Required) : Lesslides, Scheerlinck
Digital course material (Recommended) : Lesopnames
Digital course material (Required) : Persartikelen en statistieken, Canvas

Additional info

Additional documents (posted on the learning platform):

Links to press releases
Statistics (ECB-NBB, IMF, OECD, Eurostat)

The following workload is indicative:

HOC: 26 hrs (13 x 2hrs) for daytime students and 24hrs (8 x 3hrs) for working students

SELF: 67 hrs

regularly following up on materials, a rato of 2 hrs per week: 26 hrs
solving applications and exercises; additional research for further understanding and knowledge of the materials, selfstudy of certain subjects (communicated by the instructor), following up on the news in the field of economics; interpreting and analysing statistics, a rato of 1 hr per week: 13 hrs
preparing and studying for the exam (theory, applications, press releases): 28 hrs (3.5 days of 8 hrs)

Learning Outcomes

General competencies

Learning objectives

1. The bachelor/master has insight into the broad societal context of businesses and is able to take this into account in the analysis of economic and business-oriented problems.

2. The bachelor is able to identify the international dimension of the economy and business-related problems, and is able to handle these problems by formulating appropriate solutions.

3. The bachelor/master has developed skills to analyze and interpret economic data and statistics, and is able to apply economic theory to current economic issues through cases, applications and press release analyses.

4. The bachelor/master has developed skills in analyzing and understanding economic phenomena and issues from an ethical and critical viewpoint; and takes these ethical and critical considerations explicitly into account in the solutions proposed for business problems.

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

The closed-book exam is a written exam and will ask you to:

clarify on theoretical concepts from microeconomics, macroeconomics, and international economics;
draw, analyse, and interpret graphical representations;
clarify and interpret the news in combination with the theory;
fill in the blanks of a sentence by completing a word, a group of words, or a number;
answer 10 to 15 true-or-false statements or multiple choice questions.

Grade breakdown:

open-ended questions: 70% of total
true-or-false statements or multiple choice questions, with correction for guessing: 30% of total

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