Introduction to Economics
Niveau
first cycle, Bachelor
Learning outcomes of the courses/module
The participants:
• identify the key components of a market model and discuss market equilibrium as the interaction of supply and demand.
• are able to explain the determinants of consumer demand and describe its response to external factors, such as changes in income.
• analyze the strengths and limitations of market models using real-world markets (e.g., housing or labor markets) and extend abstract models by incorporating more realistic assumptions.
• are able to understand firms’ production decisions and interpret the influence of different market structures on pricing.
• examine current economic developments using economic models and evaluate them critically.
• describe the main components and institutions of an economy and explain how they function.
• are able to define macroeconomic indicators such as Gross Domestic Product (GDP) or the Consumer Price Index (CPI) and contextualize them conceptually.
• independently research indicators of economic growth and inflation and present current developments in a structured manner.
• identify the key components of a market model and discuss market equilibrium as the interaction of supply and demand.
• are able to explain the determinants of consumer demand and describe its response to external factors, such as changes in income.
• analyze the strengths and limitations of market models using real-world markets (e.g., housing or labor markets) and extend abstract models by incorporating more realistic assumptions.
• are able to understand firms’ production decisions and interpret the influence of different market structures on pricing.
• examine current economic developments using economic models and evaluate them critically.
• describe the main components and institutions of an economy and explain how they function.
• are able to define macroeconomic indicators such as Gross Domestic Product (GDP) or the Consumer Price Index (CPI) and contextualize them conceptually.
• independently research indicators of economic growth and inflation and present current developments in a structured manner.
Prerequisites for the course
not applicable
Course content
Core topics:
• Economic thinking and marginal analysis
• Efficient allocation of scarce resources
• The market model and market equilibrium
• Macroeconomic variables (GDP, inflation, and unemployment) and their interrelationships
Selected macroeconomics issues:
• Elasticity and welfare
• Cost functions and optimal corporate production
• Price setting and market structures
• Short-term macroeconomic fluctuations: The business cycle
• Money, the ECB, and inflation
• Long-term economic growth
• International relations and trade
• Economic thinking and marginal analysis
• Efficient allocation of scarce resources
• The market model and market equilibrium
• Macroeconomic variables (GDP, inflation, and unemployment) and their interrelationships
Selected macroeconomics issues:
• Elasticity and welfare
• Cost functions and optimal corporate production
• Price setting and market structures
• Short-term macroeconomic fluctuations: The business cycle
• Money, the ECB, and inflation
• Long-term economic growth
• International relations and trade
Recommended specialist literature
Blanchard, O. (2021): Makroökonomie. 8. Auflage. Pearson.
Mankiw, N.G. (2021): Grundzüge der Volkswirtschaftslehre. 8. Auflage. Schäffer-Poeschel.
Münter, M.T. (2025), Mikroökonomie, Wettbewerb und strategisches Verhalten. UTB GmbH
Natrop, J. (2016). Grundzüge der angewandten Mikroökonomie. Walter de Gruyter GmbH & Co KG. Deutschland GmbH.
Pindyck, R. S., & Rubinfeld, D. L. (2018). Mikroökonomie. Pearson Deutschland GmbH
Varian, H. R. (2016). Grundzüge der Mikroökonomik. 9. Auflage. Walter de Gruyter GmbH & Co KG. Deutschland GmbH.
Erweiterte Literatur:
Kahneman, D. (2012). Schnelles Denken, langsames Denken. Siedler Verlag.
Rifkin, J. (2016). Die Null-Grenzkosten-Gesellschaft: Das Internet der Dinge, kollaboratives Gemeingut und der Rückzug des Kapitalismus. Campus Verlag.
Thiel, P., & Masters, B. (2015). Zero to one: Wie Innovation unsere Gesellschaft rettet. Campus Verlag.
Fachzeitschriften:
Betriebswirtschaftliche Forschung und Praxis (BFuP); Zeitschrift für Betriebswirtschaft (zfB); Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung (ZfBF); Journal of Business and Economics (JBE); Wirtschaftswissenschaftliches Studium (WiSt); BC-Zeitschrift für Bilanzierung, Rechnungswesen und Controlling; Die Wirtschaftsprüfung (WpG); Zeitschrift Führung + Organisation (ZFO); Harvard Business Manager; Der Betriebswirt; Der Betrieb, Strategic Management Journal (SMJ)
Mankiw, N.G. (2021): Grundzüge der Volkswirtschaftslehre. 8. Auflage. Schäffer-Poeschel.
Münter, M.T. (2025), Mikroökonomie, Wettbewerb und strategisches Verhalten. UTB GmbH
Natrop, J. (2016). Grundzüge der angewandten Mikroökonomie. Walter de Gruyter GmbH & Co KG. Deutschland GmbH.
Pindyck, R. S., & Rubinfeld, D. L. (2018). Mikroökonomie. Pearson Deutschland GmbH
Varian, H. R. (2016). Grundzüge der Mikroökonomik. 9. Auflage. Walter de Gruyter GmbH & Co KG. Deutschland GmbH.
Erweiterte Literatur:
Kahneman, D. (2012). Schnelles Denken, langsames Denken. Siedler Verlag.
Rifkin, J. (2016). Die Null-Grenzkosten-Gesellschaft: Das Internet der Dinge, kollaboratives Gemeingut und der Rückzug des Kapitalismus. Campus Verlag.
Thiel, P., & Masters, B. (2015). Zero to one: Wie Innovation unsere Gesellschaft rettet. Campus Verlag.
Fachzeitschriften:
Betriebswirtschaftliche Forschung und Praxis (BFuP); Zeitschrift für Betriebswirtschaft (zfB); Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung (ZfBF); Journal of Business and Economics (JBE); Wirtschaftswissenschaftliches Studium (WiSt); BC-Zeitschrift für Bilanzierung, Rechnungswesen und Controlling; Die Wirtschaftsprüfung (WpG); Zeitschrift Führung + Organisation (ZFO); Harvard Business Manager; Der Betriebswirt; Der Betrieb, Strategic Management Journal (SMJ)
Assessment methods and criteria
Exam
Language
German
Number of ECTS credits awarded
3
Semester hours per week
Planned teaching and learning method
Integrated course, case studies, discussion, group work, presentations
Semester/trimester in which the course/module is offered
2