International Business Studies PT
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Applied Managerial Economics (E)

level of course unit

1. Study cycle, Bachelor

Learning outcomes of course unit

The students are able to:
•identify the essential components of a market model and interpret the market equi-librium as an interaction of supply and demand.
• identify the determinants of consumer demand and explain the response to exter-nal factors such as changes in income.
• diagnose both potentials and limitations of market models based on real markets, such as the housing or labor market, and to extend abstract models with increased reference to reality.
• analyze production decisions in companies and interpret the influence of market forms on price setting.
• examine and critically reflect current developments on the basis of models.
• use the market model, e.g. to analyze the impact of government intervention and to illustrate the formation of surplus supply or demand.

prerequisites and co-requisites

none

course contents

• Economic thinking and marginal analysis
• Efficient allocation of scarce resources
• Market model and market equilibrium
• Elasticity and pricing
• Cost functions and optimal company production
• Welfare analysis in case of state intervention

recommended or required reading

• The CORE Team: The Economy: Economics for a Changing World. Oxford University Press (latest edition)
• Mankiw, Greg: Economics. Cengage Learning EMEA (latest edition)
• Pindyck, Robert; Rubinfeld, Daniel: Microeconomics. Pearson (latest edition)

assessment methods and criteria

Online tasks, term paper, exam

language of instruction

English

number of ECTS credits allocated

6

eLearning quota in percent

25

course-hours-per-week (chw)

3

planned learning activities and teaching methods

Blended Learning

semester/trimester when the course unit is delivered

1

name of lecturer(s)

Prof. (FH) Dr. Peter Dietrich

course unit code

05.BB.VWG.1

type of course unit

integrated lecture

mode of delivery

Compulsory

work placement(s)

none