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408 - Economics (I and II) • [A. • 60 Th.] |
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| Professeur :
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HAMAIDE Bertrand
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| Objectifs de l'activité :
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ECONOMICS I :
Course Objectives: 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. Economics I 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. Imperfect competition, market failure and the principles of macroeconomics will be covered in Economics II. The course is expected to provide students with the capacity to understand economic concepts and logic used in business and economics press publications such as L'Echo, The Economist, and The Financial Times.
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 topics, such as analyzing the evolution of supply and demand of a good and its impacts, consumers' choices in purchasing goods and services, and a firm's decision about the quantity of a good to produce. Students should be able to apply each model to solve relevant numerical problems and to answer pertinent theoretical and policy questions.
Economics II:
The course has as its objective to continue the introduction of economics principles, begun in political Economy A, with the idea of building the students' understanding of the functioning of market economies. Political Economy B will be devoted partly to microeconomics with the study of imperfect competition and market failure and partly to macroeconomics with the study of national income, the goods and services market, the money market, fiscal and monetary policies and aggregate demand and supply analysis. The course also serves as pre-requisite for second year courses in economics.
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 topics. Students should be able to apply each model to solve relevant numerical problems and to answer pertinent theoretical and policy questions.
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| Prérequis :
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Economics I:
Prerequisite: None
Economics II:
Political Economy A or equivalent
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| Contenu de l'activité :
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ECONOMICS I :
Course description: Political Economy A is the first of a two-course sequence on the principles of economics taught in English. It is a required course in the curriculum for students enrolled in the bilingual French-English baccalauréat. Students who are not enrolled in the bilingual baccalauréat but who wish to take an economics course in English may substitute Political Economy A for the course Economie politique A.
Course outline with reference to the corresponding chapters in the textbook:
1. Introduction (Chapters 1, 2 and 3)
1.1. What is Economics? (Chapter 1)
1.2. Economics as a Science (Chapter 2)
1.3. The Three Basic Questions in a Market Economy (Chapter 3)
1.4. The Two Economic Models: PPF and CFD (Chapters 2 and 3)
2. Supply and Demand Analysis (Chapters 4, 5, 6 and 8)
2.1. Hypotheses (Chapter 4)
2.2. Demand (Chapter 4)
2.3. Supply (Chapter 4)
2.4. Equilibrium (Chapter 4)
2.5. Elasticity (Chapter 5)
2.6. Government Intervention and Policies in S-D Analysis (Chapter 6)
2.7. Introduction to Welfare Economics in S-D Analysis (Chapters 7 and 8)
3. Consumer Theory, Producer Theory and Equilibrium (Chapters 13, 14 and 21)
3.1. Introduction
3.2. Consumer Theory (Chapter 21)
3.3. Producer Theory (Chapter 13)
3.4. Firms in a Competitive Market (Chapter 14)
3.5. Summary: Conditions for Equilibrium and Perfect Competition
4. The Input markets (Chapter 18)
4.1. Markets for Factors of Production in Perfect Competition (Chapter 18)
4.2. Labor Market (Chapter 18)
4.3. Land Market (Chapter 18)
4.4. Caputal Market (Chapter 18)
ECONOMICS II :
Course Description: Economics II is the continuation of the course Economics I, taught in English. It is a required course in the curriculum for students enrolled in the bilingual French-English baccalauréat. Students who are not enrolled in the bilingual baccalauréat but who wish to take an economics course in English may substitute "Economics II" for the course "Economie II".
Reference material: Principles of Economics, N. Gregory Mankiw, Third Edition, Thomson Southwestern, 2004. (Available for sale at the Service Reprographie). The set of overheads used during the lectures is also available at the Service Reprographie.
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.
Course outline with reference to the corresponding chapters in the textbook:
1. Market Imperfections: Externalities and Public Goods (Chapters 10 and 11)
2. Market Imperfections: Imperfect Market Structures (Chapters 15, 16 and 17)
3. The Data of Macroeconomics (Chapters 23 and 24)
4. Long Run Macroeconomics and the Money Market (Chapters 25, 28, 29 and 30)
5. Short Run Macroeconomics and the Keynesian Model (course notes)
6. Macroeconomic Analysis (Chapters 33, 34 and course notes)
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| Méthodes d'enseignement :
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ECONOMICS I :
Pedagogical approach: 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
ECONOMICS II :
Pedagogical approach: 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 in which the models under consideration may be applied so as to link theory and practice.
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| Méthodes d'évaluation :
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ECONOMICS I:
Evaluation: A written examination made up of problems similar to those seen in problem sessions as well as questions relating to course material, will be used to determine each student's course grade. Although students are not formally graded on solutions to problem sets distributed by the teaching assistant, students are strongly encouraged to work on these problem sets prior to attending the session in which they are discussed. The teaching assistant will make available, prior to the end of the semester, solutions to the problem sets.
ECONOMICS II :
Evaluation: A written examination made up of problems similar to those seen in problem sessions as well as questions relating to course material, will be used to determine each student's course grade. Although students are not formally graded on solutions to problem sets distributed by the teaching assistant, students are strongly encouraged to work on these problem sets prior to attending the session in which they are discussed. The teaching assistant will make available, prior to the end of the semester, solutions to the problem sets.
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| Bibliographie :
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ECONOMICS I:
Reference material: Principles of Economics, N. Gregory Mankiw, Third Edition, Thomson South-Western, 2004.
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.
ECONOMICS II:
Reference material: Principles of Economics, N. Gregory Mankiw, Third Edition, Thomson South-Western, 2004.
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.
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| Autres informations :
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POLITICAL ECONOMY A :
Additional material:
a) A detailed course outline as well as the set of overheads used during the lectures.
b) Possibility to access the book's website - examples will be given in the lectures
c) Small course web site via iFUSL containing remarks, notes and a previous exam
POLITICAL ECONOMY B :
Additional material:
a) A detailed course outline as well as the set of overheads used during the lectures.
b) Possibility to access the book's website - examples will be given in the lectures
Small course web site via iFUSL containing remarks, notes and a previous exam
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| Langues d'enseignement :
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English is the only language used during the course, in problem sessions and during the written exam. |
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| ECTS :
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