Training 'Concepts and Methods in Economics'

Training Objectives

The training, entirely conducted in English, aims to develop mastery of fundamental skills in economic sciences. Successful completion of this training grants access to the Specialized Master's program in International and Development Economics (SMIDE) for those who wish to deepen their knowledge in the field.

Here are the specific skills of the "Concepts and Methods in Economics" training:

Demonstrate comprehension of the main concepts and theories required to understand issues in international and development economics
Reason and make use of mathematical language
Demonstrate understanding of the basic theories used in economics (microeconomics, macroeconomics)
Reason and make use of economic language (causes-and-effects mechanism)
Construct and manage a database
Apply quantitative and qualitative research methods to data analysis with statistical software (e.g. stata, matlab)
Communicate graphically and schematically
Communicate with digital means (including ppt presentation, use of digital interactive means)

Content of the training

The training consists of 4 modules and includes 75 hours in total.

1. Quantitative methods - Review of the analytical tools for economists

Review the most useful quantitative concepts and methods used in economics to reach the following objectives:

Master the most common quantitative tools for economists
Translate basic economic problems into mathematical language
Figure out economic problems by drawing and reading graphs
Solve basic economic problems using quantitative methods
Interpret quantitative information in economic terms
Solve optimization problems related to economic dynamics through the use of statistical softwares (Matlab).

2. Macroeconomics - Review of basic concepts and mechanisms

Demonstrate understanding of concepts and theories as well as applications:

National accounts, balance of payments, exchange rates systems;
Equilibrium and macroeconomic models to analyse the impact of fiscal and monetary policies on aggregate variables;
Introduction to macroeconomic data analysis with Matlab.

3. Microeconomics - Fundamental microeconomic models

Demonstrate understanding of concepts and theories as well as applications:

Consumers' choices,
Producers' choices,
Competitive equilibrium,
Monopoly and characterisation of resulting allocations

4. Econometrics - Review of basic econometrics using Stata

Demonstrate understanding of concepts and theories as well as applications:

Basic statistics;
OLS: hypothesis, quality and biased estimation;
Interpretation of estimation results;
Use and interpretation of dummy variables.
Instrumental variables

Training Evaluation

To attest that participants have effectively acquired the skills from each module, they are assessed through their participation in online and/or in-person sessions, submission of assignments, and successful completion of a test. These various evaluation activities are organized within each module. A final in person evaluation will be organized for each module.

Training Organization

The training will be organized both remotely and in-person over a period of 4 months, starting from May 2, 2024, until August 2024.

Training Team: Romain Houssa, Nicolás Larrea, Stéphanie Weynants

Registration

Access Conditions

To be eligible, candidates must hold a university degree of 240 credits if the degree was obtained in a European Union (EU) country, and 300 credits if obtained outside the EU. All fields of study are considered, with a focus on the following domains: law, political science, sociology, communication, computer science, civil engineering, bioengineering, and others.

Training Fees

If you are employed: 300 euros
If unemployed/student (based on supporting documents proving your unemployed/student status): 150 euros