DEC-10306 Economics

Course

Credits 6.00

Language of instruction:

Dutch

Contents:

This introductory course considers the discipline of economics and provides a basic understanding of how economies function.
This requires a blend of micro- and macroeconomic theory, institutional material, and real-world applications.

Learning outcomes:

After successful completion of this course students are expected to be able to understand and apply the basic principles of micro- and macroeconomic theory of a closed economy. In particular, students are expected to be able to:
- analyse household behaviour and consumer choice;
- analyse firm behaviour under different types of market organization;
- calculate elasticity's;
- establish the efficiency of perfect competition;
- measure (in a conceptual way) national income, inflation, and unemployment;
- employ the AD.AS model;
- study the effects of fiscal policy and monetary policy in the short run.

Activities:

- hearing lectures on the course materials;
- practicals in which students make exercises on the course materials.

Examination:

Written exam with closed questions. Halfway the course is an optional test (toets) with closed questions on the first half of the learning material. A mark 5.0 or higher on this test gives a waiver for the related part of the written exam; the final mark will then be an average with weights: 50% test, 50% second part of written exam.

Literature:

Economics, Paul Krugman & Robin Wells, Fourth Edition, 2015.
ISBN-13: 978-1-4641-4384-7
ISBN-10: 1-4641-4384-6