Introduction to Economics
level of course unit
first cycle, Bachelor
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
none
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
Blanchard, O. (2017): Makroökonomie. 7. Auflage. Pearson.
Mankiw, N.G. (2018): Grundzüge der Volkswirtschaftslehre. 7. Auflage. Schäffer-Poeschel.
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.
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.
Erweiterte Literatur:
Kahneman, D. (2012). Schnelles Denken, langsames Denken. Siedler Verlag.
Rifkin, J. (2014). Die Null-Grenzkosten-Gesellschaft: Das Internet der Dinge, kollaboratives Gemeingut und der Rückzug des Kapitalismus. Campus Verlag.
Thiel, P., & Masters, B. (2014). Zero to one: Wie Innovation unsere Gesellschaft rettet. Campus Verlag.
Fachzeitschriften:
Betriebswirtschaftliche Forschung und Praxis (BFuP); Zeitschrift für Betriebswirtschaft (zfB); Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung (ZfBF); Journal of Business and Economics (JBE); Wirtschaftswissenschaftliches Studium (WiSt); BC-Zeitschrift für Bilanzierung, Rechnungswesen und Controlling; Die Wirtschaftsprüfung (WpG); Zeitschrift Führung + Organisation (ZFO); Harvard Business Manager; Der Betriebswirt; Der Betrieb, Strategic Management Journal (SMJ)
assessment methods and criteria
Module examination: portfolio
language of instruction
German
number of ECTS credits allocated
3
eLearning quota in percent
20
course-hours-per-week (chw)
2
planned learning activities and teaching methods
integrated course, case studies, discussion, group work, presentations
semester/trimester when the course unit is delivered
1
name of lecturer(s)
Team SCEM
year of study
first year of studies
recommended optional program components
not applicable
course unit code
bb.WIR.2
type of course unit
integrated lecture
mode of delivery
Compulsory
work placement(s)
not applicable