Industrial Engineering & Management FT
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Introduction to Political Economics

level of course unit

First cycle, Bachelor

Learning outcomes of course unit

Students are able to:
 present fundamental macroeconomic terms and tools to analyse macroeconomic
developments.
 identify and explain important elements and functionings of a national economy.
 apply fundamental microeconomic and macroeconomic tools to analyse decisions of individuals
and businesses in markets with different competitive situations and analyse the results.

prerequisites and co-requisites

not applicable

course contents

 Important macroeconomic concepts – gross domestic product, inflation, unem-ployment – and
methods of measuring these indicators
 Long-term growth
 Analysis of short-term fluctuations
 Open national economy
 Basics of supply and demand
 Markets and prosperity: consumer / producer surplus, efficiency of markets, polit-ical
measures and their consequences
 Company behaviour: production costs, maximisation of profits, market forms and competition
(full competition, monopoly and oligoploy)

recommended or required reading

 Mankiw (2012): Grundzüge der Volkswirtschaftslehre, 5. Aufl., Schäffer-Poeschel Verlag
Stuttgart
 Mankiw (2003): Makroökonomik, 5. Aufl., Schäffer-Poeschel Verlag Stuttgart
 Blanchard (2008): Macroeconomics, 5. Aufl., Pearson Education
 Pindyck, Rubinfeld (2012): Microeconomics, 8. Aufl., Pearson Education
 Varian (2010): Intermediate Microeconomics, 8. Aufl., Norton & Company

assessment methods and criteria

Exam

language of instruction

English

number of ECTS credits allocated

2

planned learning activities and teaching methods

Lecture

semester/trimester when the course unit is delivered

3

name of lecturer(s)

Director of Studies

year of study

Second year of studies

recommended optional program components

not applicable

course unit code

WMG.5

type of course unit

Compulsory

mode of delivery

In-class course

work placement(s)

not applicable