Fundamentals in Economics

Supply and demand, the theory of budgeting (budget preferences, budget constraint, consumer surplus, decision to purchase or save, labour supply by the consumer, etc.), decision in case of uncertainty, theory of the firm (technology, production theory and cost theory, etc.), perfect competition (profit maximization, producer surplus, etc.), monopoly, monopolistic competition, oligopolistic theory, environmental economics, empirical data of national income and expenditure, goods market, financial markets, monetary policy, inflation, unemployment, economic cycle, social balance, fiscal policy, Keynesianism vs. Neo-liberalism, economic growth and wealth, neo-Keynesian models and Phillips curve

Mode of delivery

face to face

Type

compulsory

Recommended or required reading and other learning resources/tools

Sherman, Hunt, Nesiba, O'Hara, Wiens-Tuers (2008). Economics: An Introduction to Traditional and Progressive Views. 7th Edition, M.E. Sharpe /
Krugman, P.; Wells, R. (2015). Economics. Fourth edition, Worth Publ., New York

Planned learning activities and teaching methods

Lecture, group assignments, discussion, e-learning

Assessment methods and criteria

Continuous assessment in the form of group assignments (presentations, case studies on current economic policy issues), 30%
Final written exam, 70%

Prerequisites and co-requisites

none

Infos

Degree programme

European Economy and Business Management (English)

Cycle

Bachelor

ECTS Credits

3.00

Language of instruction

English

Curriculum

Full-Time

Academic year

2023

Semester

1 WS

Incoming

No

Learning outcome

After successful completion of this course, students will be able to explain and to analyse micro-economic and macro-economic topics that are currently discussed in the public sphere. Building on this knowledge and by employing additional discussion and reflection exercises, participants will be enabled to evaluate and criticise perspectives and economic policy recommendations of different economic theories as well as underlying conceptions.

Course code

1389-20-01-VZ-DE-10