Selected Topics Economics

A generally valid description of the acquired competences for the semester abroad cannot and should not be defined due to the large number of partner universities and the choices they offer, in order to guarantee freedom for students. The learning outcomes are based on the fundamentals and in-depth knowledge of the individual disciplines in the field of economics. The national credits are converted individually into ECTS points corresponding to performance where appropriate.

As an example, the students have acquired the following competences:

The students are able to:
• Name the essential components of a market model and discuss market equilibrium as the interaction of supply and demand.
• Name the determinants of consumer demand and explain the response to external factors such as income changes.
• Explain both potentials and limitations of market models based on real markets such as housing or labor markets and extend abstract models with increased realism.
• Understand production decisions in companies and to interpret the influences of market forms on price setting.
• Examine and critically evaluate current developments on the basis of models.
• Name the main components and institutions of an economy and explain how they function.
• Name macroeconomic indicators such as gross domestic product or consumer price index and explain their content.
• Independently research indicators for economic growth and inflation and present current developments.

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A generally valid description of the teaching content for the semester abroad cannot and should not be defined due to the large number of partner universities and the choices they offer, in order to guarantee freedom for students. The learning contents are based on the fundamentals and in-depth knowledge of the individual disciplines in the field of economics.

As an example, this module has the following teaching contents:

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

Selected economics topics:
• Elasticity and welfare
• Cost functions and optimal firm production
• Price setting and market forms
• Short-term economic fluctuations: Business cycle
• Money, the ECB and inflation
• Long-term economic growth
• International relations and trade

A generally valid description of the teaching content for the semester abroad cannot and should not be defined due to the large number of partner universities and the choices they offer, in order to guarantee freedom for students. Depending on the teaching content of the semester abroad at the partner universities, correspondingly adapted specialist literature is required.

As an example, this module is based on the following technical literature:

• Krugman, P., R., Wells, 2017. Volkswirtschaftslehre. 2nd edition. Munich: Schäffer Poeschel
• Pirounakis, N., 2013. Real Estate Economics: A Point-to-Point Handbook. UK: Rout-ledge.
• Maier, G., F., Tödtling, 2012. Regional- und Stadtökonomik 1: Standorttheorie und Raumstruktur. 5th edition. Vienna: Springer
• Maier, G., F., Tödtling, 2012. Regionalentwicklung und Regionalpolitik. 4th edition. Vienna: Springer
• Rottke, N., M., Voigtländer, 2017. Immobilienwirtschaftslehre – Ökonomie. Wiesbaden: Gabler Verlag

Students are subject to the respective examination modalities of the partner university.

The respective partner university determines the teaching methods.