Aims

The aim of the course is an understanding of the economic interdependence between economic
Agents (households, enterprises, the state, and the rest of the world) and the effects of their behaviour on economic activity, and particularly on employment. This will include the effects of macro-economic fiscal, budgetary, monetary, exchange-rate and incomes policies.
The course also sets out to reinforce students' basic knowledge of political economy in
general. One of its tasks is the levelling up and homogenisation of students' knowledge as they enter the field of economics.

Main themes

The first part of the course will review and identify the concepts of. and approach to,
the economy. In particular, it will seek to establish links with the real world.
It will lay stress on the behaviour of economic agents, relations of general
interdependence and macro economic balance, and the presentation of instruments of economic policy, and of the structure of public finances and the balance of payments.
The second part will make an in depth study of the macro economic effects of macro
economic policy measures. This analytical framework will be applied (importantly, but not exclusively) to Belgium, a country with the characteristics of a small open economy in the European Community. The analysis will spend some time on questions relating to industrial, employment, incomes and social security policies.

Content and teaching methods

The first part of the course will review and identify the concepts of, and approach to,
the economy. In particular, it will seek to establish links with the real world. It will lay stress on the behaviour of economic agents. micro economic balance, relations of general interdependence and macro economic balance, and the presentation of instruments of economic policy, and the basic elements of the structure of public finances.
The second part will make an in depth study of the macro economic effects of economic
policy measures. This part is devoted entirely to employment: social security, employment levels, salaries and employment, and labour revenue as a cost and as disposable revenue. Study of economic interdependences.
The micro economic section: consumers, producers, the market, factors of production,
salaries and interest rates.
The macro economic section: global demand. global supply, consumption and investment.
The employment section: social security, employment levels, salaries and employment, and interdependence issues.

Other information (prerequisite, evaluation (assessment methods), course materials recommended readings, ...)

If necessary, students will have to consolidate their knowledge of economics through
Personal reading and supervised work.
'Économie et emploi' syllabus.
This course forms part of a study programme given in the evening and/or on Saturdays.

Programmes in which this activity is taught

Other credits in programs