Facility & Real Estate Management PT
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Introduction to Economics

level of course unit

Introduction, fundamentals

Learning outcomes of course unit

Graduates are able to: - present basic macroeconomic terms and tools to analyze overall economic developments. - know and assess the main elements and functioning of national economies. - apply basic microeconomic and macroeconomic tools to analyze decisions taken by individuals and companies in markets in different competitive situations and evaluate the results.

prerequisites and co-requisites


course contents

- Economic reflections - Important macroeconomic concepts – gross domestic product, inflation, unemployment – and methods of measuring these indicators - Long-term growth - Analysis of short-term fluctuations - Open economy - Basics 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 and oligopoly)

recommended or required reading

- Mankiw, N.G.: Principles of Economics, 6th edition, South Western; deutsche Ausgabe unter dem Titel Grundzüge der Volkswirtschaftslehre bei Verlag Schäffer-Poeschel erschienen, 2012 - Mankiw, N.G.: Makroökonomik. Schäffer-Poeschel, 2003 - Blanchard, O.: Macroeconomics, 5th edition, Pearson Education; Deutsche Ausgabe unter dem Titel Makroökonomie bei Pearson Studium erschienen, 2009 - Pindyck, R.; Rubinfeld, D: Microeconomics, 8th ed., Pearson., 2012 - Varian, H.R.: Intermediate Microeconomics, 8th ed., Norton, 2010

assessment methods and criteria

Presentation, tutorials, written examination

language of instruction


number of ECTS credits allocated


planned learning activities and teaching methods

Lecture, group work, presentation and discussion of tasks

semester/trimester when the course unit is delivered


name of lecturer(s)

Dr. Mag. (FH) Sebastian Keiler

year of study

1. Year of studies

recommended optional program components


course unit code


type of course unit

Compulsory subject

mode of delivery

20% web-based self-learning unit, 80% in class course (integrated lecture)

work placement(s)

Not applicable