Face-to-face , first term, 30 hours of theory and 15 hours of exercises.

First term
Tuesday from 11:00 to 13:00 at 109 Marais 100

French

By the end of this course (and of the exercise sessions), the student should be able:
- to master the founding concepts of economics;
- to understand the role played by the hypothesis used in models;
- to understand the logic of economic analysis;
- to apply theoretical models to solve numerical problems;
- to use graphical and simple algebraic reasoning to explain real economic phenomena.

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This course focuses on the microeconomic theory whose subject is the analysis of the individual behaviour of agents and their interaction on the markets. It is based on the book of N.G Mankiw, Mark P. Taylor, Principes de l'Economie, Adaptation européenne, De Boeck, 2ème édition 2011.

The themes developed in class and corresponding to the reference handbook are:

- The principles and methods of economics (chapters 1, 2, 3);
- The functioning of competitive markets (chapters 4, 5, 6);
- The behaviour of the competitive company (chapters 13, 14);
- Efficiency and failure of competitive markets (chapters 7, 8, 10 , 11 );

Each of these themes is developed through using simple graphical and algebraic reasoning. The theoretical analysis is illustrated through examples taken from economic reality.

The course consists of a lecture on theoretical developments, during which the students' active participation is sought through questions asked by the teacher.

The exercise sessions, supervised by the course assistants, focus on the application of the theories through the resolution of economic problems.
An active participation of the students is necessary and requires the reading of their course notes beforehand.

Final assessment: a written exam is organised during the examination sessions. It lasts 3 hours and covers both theoretical and exercise questions.

Formative assessment: by answering the questions asked by the teacher during the lecture and by systematically solving the exercises in the handbook, the student will be able to assess his level of mastery and understanding of the studied subjects.

Reference handbook: N.G Mankiw, Mark P. Taylor, Principes de l'économie, Adapatation européenne, De Boeck, 2ème édition 2011.

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