General entry requirements for the PrEMAS and understanding of mathematics (esp. algebra and calculus) at least at university entry level.
- Explain the concept of utility and how rational utility maximizing agencies make consumption choices.
- Explain the elasticity of supply and demand and the effects on a market of the different levels of elasticity.
- Explain the interaction between supply and demand and the way in which equilibrium market prices are achieved.
- Explain various pricing strategies that can be used by firms.
- Explain the core economic concepts involved in choices made by businesses with respect to short-run and long-run investment and production choices.
- Explain competitive markets and how they operate.
- Explain profitability in markets with imperfect competition.
- Explain basic macroeconomic measures (e.g. GDP) used to compare the economies of countries.
- Describe the structure of public finances for an industrialized country.
- Explain the effect of fiscal and monetary policy on the economy, including the effect on financial markets.
- Explain the role of international trade, exchange rates and the balance of payments in the economy.
- Explain the effect of savings and consumption rates on the economy.
- Explain the major factors affecting the level of interest rates, the rate of inflation, the exchange rate, the level of employment, and the rate of growth for an industrialized country.
- Describe the function of money in the economy.
- Explain how interest rates are determined.
- Explain the relationship between money and interest rates.
- Explain how macroeconomic policies affect businesses.
- Describe the role and structure of (inter)national financial systems (markets, organizations and nations).
- Describe the influence of institutions in financial systems (governments, central banks, investment exchanges, financial bodies, regulators).
- Describe the roles of the participants in financial systems (investment banks, retail banks, investment management companies, pension funds, insurance and re-insurance companies, non-financial corporations, sovereign funds, micro-finance providers, unregulated organizations).
- Explain factors affecting development and stability of financial systems (demographic changes, economic development, technological changes and climate change).
- Economics - N. Gregory Mankiw, Mark P. Taylor. ISBN 9781473768543, 5th edition, January 2020
- Hand-outs provided during the lectures
- Drs. Sander Biesma AAG RC RBA
- Léon Cornelissen
Important to know
- Lectures start on Monday 28 August 2023 from 18.00-21.00. The complete schedule will be published in the group page.
- Exam dates: exam on 11 December 2023, resit on 8 April May 2024. These dates are preliminary.
- The costs for this module are € 3.325.
- The examination will involve written answers to open questions. The candidate completes the module with a minimal score of 5.5 out of 10.