Saint-Louis University - Bruxelles

DRAN1220 - Economics


Credits : 5

Lecturer :
Teaching assistants :
Mode of delivery :
Face-to-face , first term, 45 hours of theory and 15 hours of exercises.

Timetable :
First term
Thursday from 08:30 to 11:30 at 43 Botanique 5

Language of instruction :
English is the only language used during the course, in problem sessions and during the written exam.

Learning outcomes :
This course has as its objective to introduce the principles of economics and to build the student's basic understanding of the functioning of market economies. The first part of the course will be devoted to understanding the general principles of economics and the basics of microeconomics, or the study of the behavior of consumers and firms in perfect competition and imperfect competition. The second part of the course will be devoted to the basics of macroeconomics with the study of national income, the money market, fiscal and monetary policies and aggregate demand and supply analysis.
By the end of the course students should be able to explain the intuition underlying simple graphical and algebraic economic models representing a number of microeconomic and macroeconomic issues. Students should be able to apply each model to solve relevant numerical problems and to answer pertinent theoretical and policy questions.

Prerequisites :

Co-requisites :

Course contents :
1. Introduction
2. Microeconomic analysis
a) Demand and Supply
b) Consumption
c) Production
d) Market structures
3. Macroeconomic analysis
a) Measuring economic performance
b) Fiscal policies
c) Monetary policies
d) Aggregate Demand and Supply
4. Global economy, development and sustainability

Planned learning activities and teaching methods :
The course objectives are achieved via weekly lectures in which the professor presents models relating to the different topics covered in the course and via smaller group sessions where the teaching assistant works with students on problem sets. Emphasis will be placed in course lectures on theoretical exposition as well as examples taken from business and economics press and from current events in which the models under consideration may be applied so as to link theory and practice.

Three quarters of the course load (45 hours) will be devoted to formal lectures and one quarter (15 hours) to small group sessions for working on problem sets.

Assessment methods and criteria :
For the first session
- A written examination relating to course material will count for 60% of the points (12 points out of 20 - or 60 out of 100)
- One test made up of problems similar to those seen in problem sessions and one group paper for 30% of the points (6 points out of 20 - or 30 out of 100). The exact dates for the tests will be given during the first course.
- MCQ during the term for 10% of the points (2 points out of 20 - or 10 out of 100) - note: there will be 5 MCQ quizzes and students who have answered less than 4 out of these 5 question sets by the end of the semester will get 0 for this part.
For the second session: written exam with theoretical questions for 12 points and exercise questions similar to those seen in the problem sessions for 8 points.

Recommended or required reading :
Reference material: Goodwin et al. Essentials of Economics in Context, 1st edition, 2021

Students are strongly suggested to consult the textbook for additional explanation, numerical examples, and discussion of topics covered in the course. The textbook is intended to provide a complement to course lectures and problem sessions. Students will not be responsible for textbook material addressing topics not covered in course lectures or problem sessions.

Other information :
Additional material:
- A detailed course outline as well as the set of slides used during the lectures.
- Small course web site via Moodle containing remarks, notes, forums and a previous exam.