Facility & Real  Estate Management FT
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Selected Topics Economics (abroad)

level of course unit

Advanced knowledge, immersion

Learning outcomes of course unit

Graduates are able to: - describe and apply basic concepts and methods of economics. - describe and apply detailed concepts and contexts of economics. - critically evaluate and question methods and concepts of economics. - apply and analyze methods and concepts of economics in the context of real estate related issues.

prerequisites and co-requisites

Lecture "Introduction to Economics" VWL.1

course contents

Students acquire basic knowledge and detailed information about the individual disciplines. A few examples of the subject areas which will be addressed are: - economic theory - microeconomics - macroeconomics - econometrics - regional economy - real estate industry - economic policy - external sector theory - environmental industry - financial studies. A general module description for the course in the semester abroad can and should not be defined in order to ensure the free space for the students due to the large number of partner universities and the there offered selections within the economics. In the following the course contents are exemplified. ECTS and national credits are given. Students are subjected to the graduation modalities at the partner university. The selected examples represent the three groups of partner countries (industrialized countries outside Europe, European countries as well as developing and emerging countries). Course example at the Inha university, Incheon, South Korea: BUS3802 Performance Management Innovation, Credits 3: To improve organizational performance, it is important to establish an improving performance system which can work sustainably. This course handles major principles and activities required to develop and manage the system from a practical perspective. Especially, this course deals with Balanced Scorecard (BSC), the one of the most significant model of managing performance, focusing on its components, the process of constructing the model, and main activities required for using and managing the model. Course example at the Inha University, Incheon, South Korea: PAD3110 Environment & Sustainability: Government and Business, Credits 3: This course focuses on government environmental reform movement and business environmental strategies that respond to global market competition and global environmental regulatory regimes. Government environmental reform movement is designed to accommodate some businesses' environmental behavior that undertakes pro-active and environmentally responsible actions, often surpassing extant regulatory requirement. The change in environmental landscape covering the role of government and business is. Course example at the University of Groningen, Groningen, Netherlands: M?IBS?EECO Economics, ECTS 4: During the course Economics, important links are made between the various macro?economic variables, such as unemployment, inflation and the gross domestic product. These connections are generally not linear and sometimes differ between countries or over time. The lectures will therefore address current development as much as possible. The following subjects will be studied: the business environment, the market and the competitive environment, the production structure and innovative strength, the economic climate, the international economy, and exchange rates. The module focuses primarily on the more important connections within economics and the economic principles that can help explain the mechanisms within economics. One example of this is the way in which governments try to combat the credit crisis with either extra spending or cutbacks.

recommended or required reading

- Krugman, P, Wells, R.: Volkswirtschaftslehre, Schäffer Poeschel München, 1. Auflage, 2010 - Varian, H.: Grundzühe der Mikroökonomik, Oldenbourg Wissenschaftsverlag München, 8. Auflage, 2011 - Mankiw, G.: Makroökonomik, Schäffer Poeschel München, 6. Auflage, 2011 - Blanchard, O., Illing, G.: Makroökonomie, Person Verlag München, 6. Auflage, 2014 - Wigger, B.: Grundzüge der Finazwissenschaft, Springer Verlag Berlin, 2. Auflage, 2006 - Krugman, P., Obstfeld, M., Melitz, M.: Internationale Wirtschaft, Person Verlag München, 9. Auflage, 2011 - Klump, R.: Wirtschaftspolitik, Person Verlag München, 3. Auflage, 2013 - Stocker, H.: Ökonometrie: Grundlagen und Methoden, Person Verlag München, 1. Auflage, 2014 - Ecky, H.: Regionalökonomie, Springer Gabler Berlin, 1. Auflage, 2008 - Pirounakis, N.: Real Estate Economics: A Point-to-Point Handbook, Routledge, 1. Auflage, 2013

assessment methods and criteria

Defined by the respective partner university

language of instruction

Defined by the respective partner university

number of ECTS credits allocated


planned learning activities and teaching methods

Defined by the respective partner university

semester/trimester when the course unit is delivered


name of lecturer(s)

Director of Studies

year of study

2. Year of studies

recommended optional program components


course unit code


type of course unit

Compuslory subject

mode of delivery

Defined by the respective partner university

work placement(s)

Not applicable