607.110 (21S) Introduction to Economics

Sommersemester 2021

Registration deadline has expired.

First course session
02.03.2021 13:30 - 15:00 online Off Campus
... no further dates known

Overview

Due to the COVID-19 pandemic, it may be necessary to make changes to courses and examinations at short notice (e.g. cancellation of attendance-based courses and switching to online examinations).

For further information regarding teaching on campus, please visit: https://www.aau.at/en/corona.
Lecturer
Course title german Introduction to Economics
Type Lecture
Course model Online course
Hours per Week 1.0
ECTS credits 2.0
Registrations 12
Organisational unit
Language of instruction English
Course begins on 02.03.2021
eLearning Go to Moodle course

Time and place

Please note that the currently displayed dates may be subject to change due to COVID-19 measures.
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Course Information

Intended learning outcomes

At the end of this course, you will be able to appreciate what economics is, what it tries to accomplish, and what you will need to know in order to do it. You will have acquired a basic understanding of what microeconomic analysis does. You will be able to use mainly graphical analysis to solve consumer and producer problems and find equilibria in basic strategic interactions. More importantly, you should be able to converse freely on current topics in economics.

Course content

This module is designed as a first introduction to economics for the Bachelor Programme in International Business and Economics. The course presents a non-rigorous first overview which is intended to be motivating. This does not mean that the material is not also challenging. We will introduce you to the economic view on the main problems of our times and will point to possible solutions. There are no formal prerequisites but high-school level knowledge of calculus and analysis would probably not do much harm. The main textbook used is The Core Team (2017) referred to as [CE] below, freely available from https://www.core-econ.org/.

The method of delivery is lectures - they are all available as videos in Moodle!

There is a wealth of quizzes, data sets, and problems for self study available on this site that we most emphatically encourage you to make use of.

Course Outline

1. The Capitalist Revolution [CE, chapter 1]
2. Technological change, population, & growth [CE, chapter 2]
3. Scarcity, work, & choice [CE, chapter 3]
4. Social interactions [CE, chapter 4]
5. Property & power: mutual gains & conflict [CE, chapter 5]
6. Owners, managers, & employees [CE, chapter 6]
7. The firm & its customers [CE, chapter 7]
8. Supply & demand: price-taking and competitive markets [CE, chapter 8]


Literature

The Core Team. (2017). The Economy. Oxford, UK: Oxford University Press.

Examination information

Im Fall von online durchgeführten Prüfungen sind die Standards zu beachten, die die technischen Geräte der Studierenden erfüllen müssen, um an diesen Prüfungen teilnehmen zu können.

Examination methodology

Examination will be by means of a multiple choice exam (for details, see the Moodle eLearning page of this course). There will be 8 questions (each with 4 possible true/false answers), worth 1 point per answer. The total maximum is therefore 32 points. Since you can get the expected value of 50% without knowing anything, the passmark of 23 points is relatively low. 

Please note that it is not possible to go back and forth between the questions in the mulitple choice home exam.

Examination topic(s)

Course content

Assessment criteria / Standards of assessment for examinations

Multiple choice exam.


Grading scheme

Grade / Grade grading scheme

Position in the curriculum

  • Bachelor's degree programme International Business and Economics (SKZ: 516, Version: 19W.1) part of STEOP (Introductory & Orientation Period)
    • Subject: Principles of Economics (Compulsory subject)
      • 2.1 Introduction to Economics ( 0.0h VO, VI / 2.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
          Absolvierung im 1. Semester empfohlen

Equivalent courses for counting the examination attempts

Sommersemester 2024
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Wintersemester 2023/24
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2023
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Wintersemester 2022/23
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2022
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Wintersemester 2021/22
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2021
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
Wintersemester 2020/21
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2020
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Wintersemester 2019/20
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2019
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
Wintersemester 2018/19
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
Sommersemester 2018
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
Wintersemester 2017/18
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
Sommersemester 2017
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)
Wintersemester 2016/17
  • 607.100 VO Einführung in die Volkswirtschaftslehre (1.0h / 2.0ECTS)