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Introduction to Political Economics

level of course unit

Introduction

Learning outcomes of course unit

Graduates are able to apply and analyze fundamental political-economic tools (e.g. optimization, aggregation, market balance, Pareto efficiency) in order to analyze the decisions of economic subjects in markets. They can also identify and assess the essential elements and functionalities of a political economy.

prerequisites and co-requisites

None

course contents

Students learn about important macroeconomic concepts such as the fundamentals of supply and demand. Other important variables such as gross domestic product, inflation and unemployment, their measurement, long-term growth and analysis of short-term fluctuations are also part of the course content.
An open political economy, markets and prosperity are further topics: consumer and producer surplus, market efficiency, economical-political measures and their impacts – company behavior: production costs, profit maximization, market forms and competition (full competition, monopoly and oligopoly).

recommended or required reading

Bofinger P.: Grundzüge der Volkswirtschaftslehre: Eine Einführung in die Wissenschaft von Märkten, 4. Auflage, Pearson Studium, 2015
Mankiw G.: Grundzüge der Volkswirtschaftslehre, 6. Auflage, Schäffer-Poeschel Verlag, 2016

assessment methods and criteria

Written examination

language of instruction

German

number of ECTS credits allocated

2

planned learning activities and teaching methods

Lecture

semester/trimester when the course unit is delivered

1

name of lecturer(s)

N.N.

year of study

1

recommended optional program components

Not specified

course unit code

V.WWS.02

type of course unit

Compulsory lecture

mode of delivery

Lecture

work placement(s)

Not applicable