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Economics (B-KUL-S0A25B)

This is a translated version. Original version in Dutch.
4 ECTSDutch52 Second term
Vermeulen Frederic
POC Sociologie

Aims

By completing this course, the students have achieved the following learning outcomes:

  • Students can explain in simple language what market forces can and cannot do, and how best to correct market failures.
  • Students are able to follow economic news through mastery of micro and macroeconomic concepts such as supply and demand, inequality, growth and inflation.
  • Students can assess the impact of government policy measures on individual economic agents and macroeconomic policies on the economy as a whole, using a clear conceptual framework.

These objectives are communicated to the students at the start of the lectures.

Just like during the past academic years, lesson recordings will be provided. Nevertheless, it is strongly recommended to come to the lectures. The lesson recordings are mainly intended for working students or students who are unable to attend due to illness. They can also be reviewed to refresh the material while studying.

Previous knowledge

No specific economic pre-knowledge is required for this course. However, at the start of this course, the student is expected to have minimum quantitative skills:

  • The student is able to work with percentages.
  • The student is able to solve a simple system of linear equations.
  • The student knows the meaning of a derivative and is able to calculate simple derivatives.

Is included in these courses of study

Activities

4 ects. Economics (B-KUL-S0A25a)

4 ECTSDutchFormat: Lecture52 Second term
Vermeulen Frederic
POC Sociologie

Content

This course consists of the following three modules:

 

Module 1: General introduction: economics, individual rationality and social interaction, demand and supply, government intervention in the market.

Module 2: Microeconomic analysis: market types, market failures, distribution and redistribution.

Module 3: Macroeconomic analysis: macroeconomic aggregates (growth, inflation, unemployment), macroeconomic models, fiscal-budgetary policy, monetary policy.

Course material

  • Handbook: André Decoster en Erwin Ooghe (eds.) (2017). Economie: een inleiding. Leuven: Universitaire Pers Leuven. (Available at Acco).
  • Study material made available via Toledo: slides of lectures on the discussed chapters.

Format: more information

To reach the course objectives, students are supposed to actively follow the lectures, participate in class and take notes.

This course module is taught in block teaching during the first 9 weeks of the semester.

Evaluation

Evaluation: Economics (B-KUL-S2B25b)

Type : Exam during the examination period
Description of evaluation : Written
Type of questions : Multiple choice
Learning material : Calculator

Explanation


Evaluation characteristics
The evaluation consists of a written closed book exam with 25 multiple choice questions with standard form of correction for guessing.

Use of a regular calculator is allowed, no graphic calculator.

Final grade
The course is evaluated by the lecturer, as communicated on Toledo and in the examination regulation. The final score is expressed as a mark out of 20 (rounded to a whole number). If the analysis of the results reveals inconsistencies with regard to a question’s phrasing or a very low correlation with the general results, multiple-choice questions can be dropped so as to meet the quality standards of the exam.

Retaking exams
The evaluation characteristics and the determination of the final grade of the second examination opportunity are similar to those of the first examination opportunity, as expressed above.

Information about retaking exams

See ‘Explanation’ for more information on the second examination opportunity.