Marketing & Communication Management FT
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Introduction to VWL

level of course unit


Learning outcomes of course unit

Students are able to
• name the essential components of a market model and discuss the market equilibrium as an interaction of supply and demand.
• identify the determinants of consumer demand and explain how they respond to external factors such as changes in income.
• explain both the potentials and the limitations of market models based on real-world markets, for example the housing or labor market, and to buttress abstract models with real-life examples.
• understand production decisions in companies and interpret the influences of market structures on price setting.
• examine and critically evaluate current developments on the basis of models.
• name the essential components and institutions of a national economy and explain how they function.
• identify macroeconomic indicators such as gross domestic product or consumer price index and explain their meaning.
• conduct independent research on indicators important for economic growth and inflation and to present current developments in this regard.

prerequisites and co-requisites

English version will be available soon

course contents

Core topics:
• Economic thinking and marginal analysis
• Efficient allocation of scarce resources
• The market model and market equilibrium
• Macroeconomic variables (GDP, inflation, and unemployment) and their interrelationships

Selected macroeconomics issues:
• Elasticity and welfare
• Cost functions and optimal corporate production
• Price setting and market structures
• Short-term macroeconomic fluctuations: The business cycle
• Money, the ECB, and inflation
• Long-term economic growth
• International relations and trade

recommended or required reading

• Pindyck, R. S., & Rubinfeld, D. L. (2018). Mikroökonomie. Pearson Deutschland GmbH
• Varian, H. R. (2014). Grundzüge der Mikroökonomik. Walter de Gruyter GmbH & Co KG.Deutschland GmbH.
• Münter, M.T. (2018), Mikroökonomie, Wettbewerb und strategisches Verhalten. UTB GmbH
• Natrop, J. (2012). Grundzüge der angewandten Mikroökonomie. Walter de Gruyter GmbH & Co KG.Deutschland GmbH

assessment methods and criteria

written exam

language of instruction


number of ECTS credits allocated


eLearning quota in percent


course-hours-per-week (chw)


planned learning activities and teaching methods

Lecture, group work, case studies, discussions

semester/trimester when the course unit is delivered


name of lecturer(s)

English version will be available soon

course unit code


type of course unit


mode of delivery


work placement(s)

not applicable