Political Economy

ldroi1007  2019-2020  Louvain-la-Neuve

Political Economy
Note from June 29, 2020
Although we do not yet know how long the social distancing related to the Covid-19 pandemic will last, and regardless of the changes that had to be made in the evaluation of the June 2020 session in relation to what is provided for in this learning unit description, new learnig unit evaluation methods may still be adopted by the teachers; details of these methods have been - or will be - communicated to the students by the teachers, as soon as possible.
6 credits
60.0 h + 12.0 h
Main themes
As suggested above, the course is both conceptual and factual. However, rather than opposing theory to practice, it endeavours to show how theory can be used to improve our understanding of facts and policies. The course is addressed to law students, for whom it constitutes the only instruction in the field. As a consequence, the course is intended to cover as many aspects of economics as possible. In the process, the relationships between law and economics are systematically highlighted. The course is taught as a series of lectures by the tutor for two hours a week each, supplemented by review sessions with teaching assistants.A textbook is used to cover the entire material of the course.

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

1 The course is an introduction to economics. After the course, the student should understand and be able to explain the main principles of economics. The course also introduces students to the economic aspects of the functioning of contemporary societies. The purpose here is to learn about the basic facts, to understand them in the light of the principles, and to be introduced to policy issues.

The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.
The course is given by the professors (auditorium) and assistants (class rooms). It starts by the review of the basic concepts used in economics in order to understand the functionning of a market. What are the drivers for the supply side? What are the drivers for demand? How prices are formed? The course will also give an overview of the different types of markets and internalional relations. Different types of goods, externalities and general equilibrium will also be part of the course. Finally, different macro-economic concepts will be reviewed, as inflation, unemployment and economic growth. In any case, time is devoted to the explanation of the concepts, to examples and to the links between the concepts. 
Teaching methods
In auditorium (first semester, Thuesday and Thursday, 8.30am - 10.30 am) and exercices in classrooms (see your agenda)
Evaluation methods
3 sessions are organised, as legally permitted. There is a written exam with multiple choice questions and open questions. In January, bonus points can be earned depending on the participation to short multiple choice test organised befor each exercices session.
Other information
All the details about the course and the needed material are available on Moodle. Students will also find exam corrections and example of exam questions.
Online resources
All the slides are available on Moodle and at the course-service. A smart textbook is also recommanded (see bibliography)
Un bon ouvrage de référence en économie aidera l'étudiant à la compréhension des concepts. Le cours suit une partie des chapitres de l'ouvrage de Mankiw, G et M. Taylor, Principes d'économie, de Boeck. Tous les détails et d'autres sources sont présents sur Moodle. 
Faculty or entity

Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Bachelor in Law