Duration
30h Th, 15h Pr
Number of credits
| Bachelor in law | 3 crédits |
Lecturer
Language(s) of instruction
German language
Organisation and examination
Teaching in the first semester, review in January
Schedule
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 (2h). Exercise sessions (2h 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 (2018), Grundzüge der Volkswirtschaftslehre, 7th edition, 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 (80 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
Items online
course material
course material can be found under