Business Management FT
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Introduction to Economics

level of course unit

first cycle, Bachelor

Learning outcomes of course unit

• are familiar with the basic macroeconomic and microeconomic terms and tools to analyze macroeconomic developments.
• understand and are able to assess the main elements and functioning of a national economy.
• master fundamental microeconomic tools to analyze decisions taken by individuals and businesses in markets in different competitive situations.

prerequisites and co-requisites

not applicable

course contents

Course content
• Important macroeconomic concepts – gross domestic product, inflation, unemployment – and methods of measuring these indicators
• Long-term growth
• Analysis of short-term fluctuations
• Open economy
• Fundamentals of supply and demand
• Markets and prosperity: consumer / producer surplus, efficiency of markets, political measures and their consequences
• Company behavior: production costs, maximization of profits, market forms and competition (full competition, monopoly, etc.)

recommended or required reading

Mankiw, N.G. (2012): Principles of Economics, 6th edition
Mankiw, N.G. (2003): Makroökonomik. Schäffer-Poeschel
Blanchard, O. (2009): Macroeconomics, 5th edition
Pindyck, R., Rubinfeld, D. (2012): Microeconomics, 8th edition
Varian, H.R. (2010): Intermediate Microeconomics, 8th edition
Samuelson, P./ Nordhaus, W./ Berger, R./ Hilgner, B. (2007):Volkswirtschaftslehre. Das internationale Standardwerk der Makro- und Mikroökonomie
Engelkamp, P./ Sell, F. (2011): Einführung in die Volkswirtschaftslehre
Kampmann, R./ Walter, J.(2009): Semesterpaket VWL-Wissen Bachelor. Mikroökonomie: Markt, Wirtschaftsordnung und Wettbewerb

assessment methods and criteria

written examination

language of instruction


number of ECTS credits allocated


planned learning activities and teaching methods

Lecture, group work, presentation and task discussion

semester/trimester when the course unit is delivered


name of lecturer(s)

Mag. Gramm Delia

year of study

1.year of studies

recommended optional program components

not applicable

course unit code


type of course unit


mode of delivery

In-class course

work placement(s)

not applicable