Face-to-face , first term, 45 hours of theory and 15 hours of exercises.

First term
Monday from 11:00 to 13:00 at 109 Marais 300
Thursday from 09:00 to 11:00 at 119 Marais 3100

French

The general aims are to:
- develop the student's ability to carry out a formalised economic analysis through the systemic modelling of individual behaviours and of their resultant on the allocation of the market's economic resources;
- use formalisation to analyse the underlying mechanisms of observed economic facts.

More specifically, by the end of the course (and tutorials), the student will be able to:
- propose a stylised but coherent analysis of simple economic phenomena based on the individual behaviour of the concerned agents;
- use mathematical language to formalise simple economic problems;
- discuss the role played by the hypothesis used to establish the main results of the course. The student should also be able to discuss the relevance of these results to analyse real economic situations;
- apply theoretical models to solve exercises;
- demonstrate the main results necessary for the construction and characterisation of market equilibrium situations, in perfect and imperfect competition;
- define the main microeconomic concepts and specify their field of application.

For the Bachelor in Business Engineering :

For the Bachelor in Economics and Management :

None

The course covers the central fields of the analysis of individual economic behaviours (micro economic) and their relation to the market, in order to propose a first formalisation of economic exchange and therefore of the allocation of resources, based on the decentralisation of decisions via the market prices.

In the first part, we will analyse on the one hand the behaviour of consumers and on the other hand, the behaviour of firms in perfect competition starting from the analysis of production technologies. We will study the characterisation and main properties of competitive equilibrium in the long and short term in a partial equilibrium context.

In the second part, the competitive equilibrium model will be studied. It first covers the construction of demand functions for goods and services starting from the mathematical formalisation of the consumers' behaviour. The analysis framework of an exchange economy is formalised. In this framework, we will address the problem of general equilibrium and efficiency in the allocation of resources.

In the third part, we will study two of the main sources of market failure: imperfect competition (monopoly, oligopoly) on the one hand, and information asymmetry on the other hand.

Lecture on the theoretical developments implying the students' involvement through questions asked by the professor.

Tutorials: exercise solving by the students under the guidance of the probationary lecturers.

Summative assessment: written examination during the examination session including questions of theory, exercises to solve and simple applications of the theory to problems inspired by economic reality.

Formative assessment: the questions asked during lecture enable the students to evaluate their knowledge of the studied subject matter. Furthermore, the students have at their disposal a portfolio of solved exercises, which should enable them to verify their understanding of the lecture and tutorials during the year.

"Introduction à la microéconomie", Hal R. Varian, 7° édition française, Deboeck Université

Didactic supports proposed to the students:
- a syllabus
- copy of the slides used in class
- notes taken in class
- non-mandatory handbook: Introduction à la Microéconomie, H. Varian, De Boeck Université;
- portfolio of exercises with partial resolution.