Introduction to Economics
level of course unit
first cycle, Bachelor
Learning outcomes of course unit
• present basic macroeconomic terminology and tools for the analysis of macroeconomic developments
• recognize and assess the important elements and the workings of an economy
• apply basic microeconomic and macroeconomic tools for the analysis of decisions made by individuals or companies to markets in different competition situations and analyze the results.
prerequisites and co-requisites
• Economic thinking
• Important macroeconomic concepts: GDP, inflation and unemployment as well as calculating these
• Long-term growth
• Analysis of short-term fluctuations
• Open economy
• Basics of supply and demand
• Markets and wealth: consumer and producer surplus, market efficiency, economic policy measures and their impact
• Corporate conduct: production costs, profit maximization, types of market and competition such as full competition, monopoly and oligopoly
recommended or required reading
Mankiw, N.G. (2012): Principles of Economics, 6th edition, South Western; deutsche Ausgabe unter dem Titel Grundzüge der Volkswirtschaftslehre bei Verlag Schäffer-Poeschel erschienen
Mankiw, N.G. (2003): Makroökonomik. Schäffer-Poeschel
Blanchard, O. (2009): Macroeconomics, 5th edition, Pearson Education; Deutsche Ausgabe unter dem Titel Makroökonomie bei Pearson Studium erschienen
Pindyck, R., Rubinfeld, D. (2012): Microeconomics, 8th ed., Pearson.
Varian, H.R. (2010): Intermediate Microeconomics, 8th ed., Norton
Bofinger, P. (2003): Grundzüge der Volkswirtschaftslehre. München.
Krugman, P., Wells, R. (2010): Volkswirtschaftslehre. Stuttgart.
Samuelson, Paul A. and William D. Nordhaus (2009): Economics. 19th ed., Boston.
assessment methods and criteria
language of instruction
number of ECTS credits allocated
planned learning activities and teaching methods
integrated course, case studies, discussion, group work
semester/trimester when the course unit is delivered
name of lecturer(s)
Mag. Delia Gramm
year of study
first year of studies
recommended optional program components
course unit code
type of course unit
mode of delivery