Optional in stage
Second term
Both terms
Not organised
This year
Next year
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External
Prerequisites
Identical coursesPrinciples of Managerial Economics (B-KUL-HVE10A)
Vanormelingen Stijn (coordinator) | Vanormelingen Stijn Aims
- Describes the economic science viewpoint and applies it to complex economic problems.
- Analyses buyer and seller behaviour in different market types and substantiates this economically, using graphics and words.
- Synthesises news reports about the micro- and macro-economic reality showing sufficient maturity, contextualises these reports using a theoretical conceptual framework and arrives at a critical understanding of such reporting.
- Describes and analyses the behaviour of the various economic agents (households, companies, the government) in the markets (actual market, money market, financial market, labour market).
- Analyses the simultaneous equilibrium model in these markets and illustrates the re-balancing, both using graphics and speech.
- Evaluates the effectiveness of a government’s budgetary and monetary policies as well as its employment policies.
- Values an international business project using a discounted cash flow approach and a real option analysis.
- Shows interest in current affairs and broadens his background knowledge.
Previous knowledge
The admission criteria for the programme can be found in the programme catalogue. No prior knowledge is required for this course.
Identical courses
This course is identical to the following courses:
HSH12A : Micro-economie (S)
HTH11A : Micro-economie (BL)
Y05066 : Micro-economie (S)
HSA20A : Microeconomics (B)
Is included in these courses of study
- Preparatory Programme: Master of International Business (Programme for students started before 2022-2023) (Brussels) 27 ects.
- Master of International Business: Double Degree Toulouse (outgoing) (Brussels et al) 113 ects.
- Preparatory Programme: Master of International Business (Programme for students started in 2022-2023 or later) (Brussels) 27 ects.
Activities
3 ects. Principles of Managerial Economics (B-KUL-HVE10b)
EnglishFormat: Lecture
26 
First termContent
The course intends to get students acquainted with fundamental elements of microeconomics, particularly in business settings. These fundaments are needed as a first stepping stone towards mastering a broad (theoretical) economics framework. Being able to exploit such a framework is an evident and indispensable asset for an academic master for students without prior economic training. In particular, this course offers important, economic fundamentals for the business orientation of the entire programme.
The topics that will be treated in the course are the following:
1. Individual and market demand;
2. Elasticities;
3. Consumer and producer surplus;
4. Long-run and short-run Supply;
5. Market equilibrium in competitive markets;
6. The theory of production and costs;
7. Economic Efficiency;
8. Costs
9. Monopoly;
10. Game Theory (introduction);
11. Externalities;
12. Asymmetric Information
Format: more information
The course consists mainly of interactive lectures. During the lectures students are stimulated to actively partipate. There will be as well 1 or two exercise sessions in which the students will make exercises in class related to the lectured material. There will be as well optional exercises available that the students can work on at home. These serve as a good preparation for the exam.
Evaluation
Evaluation: Principles of Managerial Economics (B-KUL-H75166)
Explanation
Evaluation caracteristics
The written closed-book exam consists of both multiple choice questions (60% - 75% of the points) and open questions (25 - 40% of the points)
There is a guessing correction for the multiple choice questions. The precise procedure for the guession correction will be communicated in the lectures and via Toledo.