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Introduction to Economics

level of course unit

first cycle, Bachelor

Learning outcomes of course unit

Students can:
• 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

not applicable

course contents

• 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

written examination

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

not applicable

course unit code


type of course unit


mode of delivery

in-class course

work placement(s)

not applicable