The four core courses for the MA-PECO program, Microeconomics, Macroeconomics, Political Economy, and Data Analysis are held at Solvay-Brussels in the fall semester. Students have a two week “Math Camp” (Mathematical Methods) before classes officially begin.
Description: The idea of this course is to give the students a refresher of the basics of mathematics and statistics that they will need for the other courses of their master. The program will kick off with a preparatory non-credit bootcamp in mathematical methods in the second half of August.
The objective of this course will be to fill any gaps in the student’s knowledge of basic mathematical techniques commonly used in economic analysis and applied statistics:
- How to write a proof: basic introduction to logical reasoning
- Linear algebra
- Fundamentals of probability theory.
Professor: Philippe Weil
Description: This course by professor Phillipe Weil develops a coherent framework for analyzing the determination of macroeconomic variables such as national output, unemployment, interest rates, government debt and inflation. The course will also contribute to developing the skills needed for interpreting macroeconomic data and macroeconomic policy. One objective of the course is to provide a link between economic theory and current economic policy. Another objective is to provide students with the tools to analyze current macroeconomic policies.
Description: This course by professors Micael Castanheira and Georg Kirchsteiger covers elements of modern microeconomics. It emphasizes the development of skills needed to evaluate the new generation of economic models, tools, and ideas as they apply to recent changes in our economy. Basic tools of game theory, asymmetric information, and modern general equilibrium price formation are introduced and applied to various topics. These topics include consumer and producer choice, decision under uncertainty, and resource allocation under different market structures such as competition, monopoly, and oligopoly. The course also focuses on some newer innovations to the theory, including the role of politics in the determination of economic policy, the impact of spillovers and network externalities in the information economy, and psychological and behavioral factors in individual decision making.
- Ability to analyze markets and price and quantity movements
- Identify market inefficiencies
- Understand behavior of different market and non-market agents, as well as their strategic interactions
- Develop knowledge of microeconomic theory and behavioral economics
- Understand how to play an active role in various markets
Professor: Stephane Wother
Description: Political economy studies the determinants of public policy both at the macroeconomic and microeconomic levels. The main focus of this introductory course by professor Laurent Bouton is on the behavior of non-market agents such as legislatures, government agencies, judicial institutions, NGOs and activist groups, the media, and their interactions with traditional market agents (firms and consumers). Political economy develops systematic frameworks for understanding such behaviors and interactions. In many situations, non-market agents heavily influence the functioning of the market. For instance, emission standards affect virtually all aspects of automobile design and manufacturing, and thereby the competitive advantages of automakers. Political economy studies how elections, lobbying, information provision, and institutional specificities shape actual emission standards, which may thus differ from the socially optimal outcome.
Professor: Christophe Croux
Description: This course is an introduction to the basic concepts and tools of data analysis. Its goal is to enable students to conduct their own empirical research using a standard statistical package. The first part of the course emphasizes practical aspects of implementation using specific statistical software, while the second part emphasizes fundamental ideas such as sampling and nonsampling error, statistical modeling, alternative approaches to estimation, hypothesis testing and model selection, simulation and resampling methods, and issues arising with high-dimensional data. Hands-on exercises and a group research project using actual economic data represent an integral part of the course.