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ESPO1171 - Economics II
Credits :
4,5
Lecturer :
Mode of delivery :
Face-to-face , second term, 30 hours of theory and 15 hours of exercises.
Language of instruction :
This course will be taught in Dutch.
Learning outcomes :
The aim of the course is to provide an intuitive and formal
understanding of the basic principles of economics and builds upon the foundations studied in Economics I.
We start by discussing the fudamental reasons of the benefits of exchange : comparative advantage. We then study the market for production factors (e.g. labor and capital). Most attention will be paid, though, to the study Macroeconomics. The students will be introduced to economic growth, inflation and unemployment, after which the course will focus on macroeconomic policy. Finally, an introduction to the basic tools of finance will be taught.
Prerequisites :
None
Co-requisites :
None
Course contents :
This course will cover the following topics:
Comparative advantage and markets for production factors (3 classes)
1) Comparative Advantage (Chapter 3 and 9)
2) The market for production factors (Chapter 18)
3) Earnings and discrimination (Chapter 19)
Macroeconomics (10 classes)
4) Unemployment (Chapter 28)
5) How to measure a nation's income? (Chapter 23)
6) How to measure the cost of living ? (Chapter 24)
7) Economic growth (Chapter 25)
8) The monetary system (Chapter 29)
9) Money growth and Inflation (Chapter 30)
10) Aggregate demand and aggregate supply (Chapter 33)
11) The influence of Fiscal and Monetary policy on aggregate demand (Chapter 34)
12) Introduction to Finance (see lecture notes)
Planned learning activities and teaching methods :
Ex cathedra presentations
Assessment methods and criteria :
A written exam during the examination session.
Recommended or required reading :
Material: Mankiw, Gregory, Kernbegrippen van Economie (3de editie), Academic Service.
Interesting texts: The Economist, The Financial Times, Trends/Tendances, de Standaard, de Morgen …
Other information :
Slides will be provided to Students.
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