mechc1305  2020-2021  Charleroi

Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).
6 credits
45.0 h + 10.0 h
Q1
Teacher(s)
Gilson Nathalie; Scarmure Patrick (compensates Gilson Nathalie);
Language
French
Main themes
  • Perfect markets
Consumer choice, demand and elasticity, production decision and supply, law of supply and demand, market equilibrium and economic efficiency.
  • Technologies and cost minimisation
Production function, average and marginal income, returns to scale, short and long-term cost minimisation, fixed and variable costs, total, average and marginal costs, economies of scale.
  • (Absence of) market forces and price-quantity decision
Total, average and marginal revenue, profit maximisation, marginal and average conditions, elasticity and margin.
  • Price discrimination
Pricing and market segmentation, two-part pricing and related sales, aggregation of demand and groups sales.
  • Advertising
Optimal advertising expenditure: the Dorfman-Steiner model.
  • Oligopolistic competition and agreement
Cournot duopoly and best response, Stackelberg quantity leadership and the advantage of initiative, Bertrand price war, collusion, coordination and incitement to cheat.
  • Other topics, chosen by the teacher
Theory of consumer choice, market failures, vertical relationships, aspects of gaming theory.
  • Perfect markets
Consumer choice, demand and elasticity, production decision and supply, law of supply and demand, market equilibrium and economic efficiency.
  • Technologies and cost minimisation
Production function, average and marginal income, returns to scale, short and long-term cost minimisation, fixed and variable costs, total, average and marginal costs, economies of scale.
  • (Absence of) market forces and price-quantity decision
Total, average and marginal revenue, profit maximisation, marginal and average conditions, elasticity and margin.
  • Price discrimination
Pricing and market segmentation, two-part pricing and related sales, aggregation of demand and groups sales.
  • Advertising
Optimal advertising expenditure: the Dorfman-Steiner model.
  • Oligopolistic competition and agreement
Cournot duopoly and best response, Stackelberg quantity leadership and the advantage of initiative, Bertrand price war, collusion, coordination and incitement to cheat.
  • Other topics, chosen by the teacher
Theory of consumer choice, market failures, vertical relationships, aspects of gaming theory.
Aims

At the end of this learning unit, the student is able to :

1 On completion of this course, students will be able:
  • to master the fundamental economic concepts and how they interrelate;
  • to understand the principles of economic reasoning;
to understand microeconomic models in connection with the management of companies.
 
Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

  • Lectures
  • Practical exercises.
Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Written examination
Bibliography
  • PINDYCK R., RUBINFELD D. (2017), Microéconomie, Pearson, 9e éd., traduction de PINDYCK R., RUBINFELD D. (2017), Microeconomics, 9th ed., Pearson.
  • ALLEN B., WEIGELT K., DOHERTY N., MANSFIED E.(2012) (2012), Managerial Economics – Theory, Applications, and Cases, 8th, Norton
Faculty or entity
CLSM