Microeconomics

Teacher(s)

Scarmure Patrick;

Language

French

Prerequisites

The prerequisite(s) for this Teaching Unit (Unité d’enseignement – UE) for the programmes/courses that offer this Teaching Unit are specified at the end of this sheet.

Main themes

This learning unit models the behavior of individuals (the theory of consumer choice) and organizations (technology and production cost, market power and quantity-price decision) on a market. Emphasis is placed on trade-offs (optimization under constraints), the interaction between economic agents and equilibriums. Aimed at management students, the relationships between microeconomics and the various management disciplines (marketing, finance, strategy) are also addressed through the analysis of price discrimination and advertising, that of oligopoly markets and decision-making under uncertainty. This learning unit is based on numerous examples from the information economy.

Learning outcomes

At the end of this learning unit, the student is able to :
1	Given the « competencies referential » linked to the LSM Bachelor in Management and Business Engineering, this course mainly develops the following competencies: 2.3. Acquire a knowledge base in quantitative, IT and digital methods. 3.2. Apply clear and structured analytical reasoning, conceptual frameworks and science-based models to describe and analyse a simple but concrete problem and offer a solution. At the end of the class, the student will be able to: master the concepts of microeconomics and their articulation; understand the principles of economic reasoning; understand the models of microeconomics in relation to business management; use optimization techniques.

Bibliography

PINDYCK R., RUBINFELD D. (2017), Microéconomie, Pearson, 9e éd., traduction de PINDYCK R., RUBINFELD D. (2017), Microeconomics, 9th ed., Pearson.
VARIAN H. (2015), Introduction à la microéconomie, De Boeck, 8e éd., traduction de VARIAN H. (2014), Intermediate Microeconomics: A Modern Approach, 9th ed. Norton.

Faculty or entity

CLSM