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ECON-S1702

Introduction to microeconomics

academic year
2025-2026
2026-2027

Course teacher(s)

Alejandra Ramos (Coordinator) and Paula GOBBI

ECTS credits

5

Language(s) of instruction

english

Course content

1.       The Economic problem

2.       Supply and demand

3.       The elasticity of supply and demand

4.       Demand and utility theory

5.       Firms’ costs and production decisions

6.       Industrial Economics

7.       International exchanges

8.       Finance

9.       Incentives and contracts

10.     Public Economics

Objectives (and/or specific learning outcomes)

By the end of this course, students will have a good understanding of the basic microeconomic concepts and be able to apply them.

Students will acquire familiarity with terms such as: opportunity cost, supply, demand, elasticity, utility, marginal cost, fixed cost, variable cost, economies of scale, perfect competition, monopolistic competition, monopoly, price discrimination, game theory, present value, externalities.

Prerequisites and Corequisites

Required and Corequired knowledge and skills

This course is a prerequisite for:

ECON-S2002

Labor economics and economic ethics - In the Bachelor of Economics program, general orientation (French option/block 2)

5 credits - François RYCX (Coordinator) and Jean Luc DE MEULEMEESTER

ECON-S202

Microeconomic theory: consumer and producer choice - In the Bachelor of Mathematical Sciences program (block 2)

5 credits - Bram DE ROCK (Coordinator)

ECON-S301

Introduction to public economics - In the Bachelor of Economics program, general orientation (French option/block 3English option/block 3)

5 credits - Ilan TOJEROW (Coordinator)

Teaching methods and learning activities

The theoretical course (lectures) offers a first contact with the subject of microeconomics. The emphasis is on intuitions and basic concepts, as well as links to current economic developments.

The exercise sessions allow concepts to be developed. It's about going further than intuition and working with material, particularly through mathematical modelling.

The guidance sessions allow for

(i) a refresher course for those with difficulties, particularly in mathematics,

(ii) preparation for the exam by solving old questions

(iii) to go further by interacting with master's students having done particularly well in the course.

References, bibliography, and recommended reading

- Begg, D., Vernasca, G., Fischer, S., Dornbusch, R. (2020), Economics, 12th edition, McGraw-Hill.

- Varian, H., Melitz M., (2024), Intermediate Economics, 10th edition, Norton.

-  Cowen, T. and Tabarrok, A. (2021). Modern Principles of Economics. 5th edition, Worth.

Contribution to the teaching profile

  • Apply fundamental concepts, tools and models in economics and management to formulate a well-defined problem and propose a multidisciplinary solution relevant to the economic context
  • Adopt a scientific approach to data collection, research and analysis and communicate results with clear, structured and sophisticated arguments
  • Display critical thinking, logical and abstract reasoning and develop an independent approach to learning

Other information

Contacts

Teacher: Dr Alejandra Ramos ; Alejandra.Ramos@ulb.be


Principal assistant: tbc

 
Exercise assistant: tbc

Campus

Solbosch

Evaluation

Method(s) of evaluation

  • written examination

written examination

  • Open question with developed answer

Mark calculation method (including weighting of intermediary marks)

  • 70% Final exam
  • 30% Practical work
    All assessments are closed-book written examinations.
    In the re-assessment session, the grade for the practical work will only be considered if it exceeds the grade obtained on the resit exam.

Language(s) of evaluation

  • english

Programmes