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, IS-LM model, AS-AD model

Mode of delivery

face to face



Recommended or required reading and other learning resources/tools

Bofinger, P. (2019): Grandzüge der Volkswirtschaftslehre. Eine Einführung in die Wissenschaft von Märkten. 4. Auflage, München: Pearson.
Jäger, J. & Springler, E. (2012): Ökonomie der internationalen Entwicklung, eine kritische Einführung in die Volkswirtschaftslehre, Mandelbaum.
Required literature will be distributed in the first course meeting. (BEWE)

Planned learning activities and teaching methods

Classroom teaching, lecture, exercises, e-learning

Assessment methods and criteria

Continuous assessment, final exam, practical course part (case studies on current economic policy issues, group work)


Degree programme

European Economy & Business Management (Bachelor)



ECTS Credits


Language of instruction




Academic year



1 WS



Learning outcome

After successful completion of this course, students will be able to understand political science issues as well as micro-economic and macro-economic topics that are currently discussed in the public sphere, and to form an opinion about them. Building on this knowledge and by employing additional discussion and reflection exercises, participants will develop a differentiated perspective of different economic theories as well as underlying conceptions.
The learning outcomes of this course contribute mainly to the following (international) programme learning outcomes:
LO 2.1./ILO 5
LO 2.2./ILO 6

Course code