The “Principles of Economics” course is an introductory course to economic science. It defines economic science, its objects, its concerns, as well as its methods and results. It intends to introduce students to jargon and economic reasoning, as well as to provide initial tools for analysis and understanding of current economic and social issues.
The course is taught in French.
It is structured in 4 parts:
- Introduction. Definition of economic science (micro- and macroeconomics, positive – normative economics, economic systems). Presentation of the principles of economics, methodology and economic tools. Presentation of basic economic models and their assumptions.
- Individual consumption, savings and work decisions; Firms' production decisions (costs, entry and exit decisions, optimization). Competitive equilibrium.
- Imperfections. Monopoly and asymmetry of information.
- Role of the State / Economic policy: Typology of the main functions of the State, notion of public good, externalities.
The exam may include applications of the type examined in the course.
A closed-book written assessment covering the material caught during the course is organized (duration 2 hours).
The student is evaluated on his or her ability to reproduce, understand and analyze. She/He must be able to precisely define the different concepts covered during the course. She/He must understand the different economic reasoning covered during the course and be able to apply them (exercises of the type of those covered during the course).
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| Training | Study programme | Block | Credits | Mandatory |
|---|---|---|---|---|
| Bachelor in Law (shift schedule) | Standard | 0 | 5 | |
| Bachelor in Economics and Management (shift schedule) | Standard | 0 | 5 | |
| Bachelor in Law (shift schedule) | Standard | 1 | 5 | |
| Bachelor in Economics and Management (shift schedule) | Standard | 2 | 5 |