Volkswirtschaftslehre - Mikroökonomik

Duration

30h Th, 15h Pr

Number of credits

Lecturer

Markus Fredebeul-Krein

Language(s) of instruction

German language

Organisation and examination

Teaching in the first semester, review in January

Units courses prerequisite and corequisite

Prerequisite or corequisite units are presented within each program

Learning unit contents

A. Introduction
1 Basic Economic Concepts and Rules
2 Production Possibility Frontier and the Model of Labour Divison
B. Microeconomics
1 Fundamentals of Supply and Demand 
2 Elasticities
3 Welfare Effects of Policy Interventions I: Price Fixing and Quotas
4 Welfare Effects of Policy Interventions II : Taxes
5  Welfare Effects of Policy Interventions III : Labour markets
6 Market Failure: Public Goods and Externalities

Learning outcomes of the learning unit

In microeconomics the course imparts basic knowledge of the principles of market economies and price formation on markets. These principles are fundamental prerequisites to understand recent problems of and challenges to economic policy. Students will be able to understand and to evaluate the implications of policy measures. This enables them to compare strategic business options for companies and to contribute to strategy development.

Prerequisite knowledge and skills

None

Planned learning activities and teaching methods

Straight lessons during the lectures. Exercise sessions (1:30 each) in small groups of students (mandatory presence in the group assigned to the student is checked). Exercises illustrate the various chapters of the course by simple numerical examples, thus giving a better understanding of the matter.

Mode of delivery (face-to-face ; distance-learning)

Face-to-face.

Recommended or required readings

Mankiw, N. G./M.P. Taylor (2016), Grundzüge der Volkswirtschaftslehre, 6. Auflage, Stuttgart (Schäffer-Poeschel)

Assessment methods and criteria

Economics is a matter to judge the ability to analyse and apply a rigorous approach to problems. During the examination shall both master the tools necessary to an understanding of the economic mechanisms and be able to think quickly and speak clearly. The answers to the questions must be formulated and rigorously justified. The final score reflects a general assessment of the qualities of the student according to different information the teacher provides to run tests constituting the exam. Proper knowledge of all the material is required to obtain a score of at least the satisfaction. Conversely , deficiencies in a significant part of the course will lead to a note of weakness or failure. Written examination (60 min) of the first term. Students can obtain an exemption from the first part of the course (microeconomics) after a written test held at the end of the first half.

Work placement(s)

Organizational remarks

Contacts

Markus Fredebeul-Krein 
M.Fredebeul@ulg.ac.be
or
fredebeul-krein@fh-aachen.de
Mob. +49 170 8525507

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