607.135 (21W) ECON 1: Microeconomics

Wintersemester 2021/22

Registration deadline has expired.

First course session
04.10.2021 12:00 - 14:00 HS 1 On 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 ECON 1: Microeconomics
Type Lecture - Course (continuous assessment course )
Course model Online course
Hours per Week 3.0
ECTS credits 6.0
Registrations 27 (24 max.)
Organisational unit
Language of instruction English
Course begins on 04.10.2021
eLearning Go to Moodle course
Remarks (english)

Alternative dates for the tutorial part: October 26 and November 2 have to be agreed on. They should take place in the same weeks. 

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

This course consists of two parts. The lecture lays down fundamentals of microeconomic theory – along thelines of the course’s textbook. The tutorial part is devoted to solving key review problems and practical examples. Both the tutorials on Tuesday and the one on Wednesday are identical in structure.

Teaching methodology including the use of eLearning tools

For the tutorial part, you will have to prepare take home problem sets and participate in short quizzes during the practical sessions. Lecture content is divided into 10 different blocks of 5 questions each. Each valid answer to a question is worth 0.4 credits. With a total of 50 questions, this yields a maximum of 20 credits that can be earned. Furthermore, you may receive bonus credits for especially active participation. The procedure regarding problem sets is as follows:


  • Problem sets will be made available via learning platform Moodle.
  • Until 4 p.m. the day before your next tutorial session, tick the corresponding boxes of answers that you accurately prepared in AAU’s student portal ZEUS.
  • Please upload a pdf file of your answers via Moodle prior to the start of the related session, if possible. Easiest might be to scan your answers or take a picture.
  • Please name the document as follows: “Course nr_surname_exercise“ (e.g., “607.135_Smith_Exercise1”)
  • During the tutorial sessions, you may be asked to present and explain these answers.

Note that presenters are chosen randomly from the corresponding ZEUS “Kreuzelliste”: You should be able to explain your answer fully. Small mistakes during your presentation happen, nobody is perfect. Yet, if you are absent without excuse, or if the instructor evaluates your presentation as insufficient, you may be deducted up to 10 “malus” credits. Therefore, we recommend to truthfully tick those questions that you are fully prepared to present only.

For the final 15 minutes of each tutorial, you you will take a mini quiz via the learning platform. It consists of two questions, a multiple-choice and an open question. You can earn up to 2 credits for each quiz. For answers to short quizzes, you can reach a further 20 credits at maximum.

Course content

  • Preliminary discussion, Administrative matters, Principles
  • Supply and demand; elasticities
  • Consumer behavior
  • Individual demand and market demand
  • Production and Production costs
  • Profit maximization and competition
  • Analysis of competitive markets
  • Market power – Monopoly
  • Monopolistic competition & Oligopoly
  • Game Theory
  • Markets with asymmetric information and auctions

Curricular registration requirements

  • Further administrative details will be announced during the 1st session (both lecture and tutorial). 
  • Please note that the course description misses a few dates for tutorial sessions because of public holidays. Alternative dates will be agreed on during the first session.

Literature

Pindyck, R. and Rubinfeld, D. (2009). Microeconomics. Pearson Prentice Hall.  The book is available in the library.

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

Both course parts are evaluated separately. For passing the course, both the lecture part (multiple choice exam, consisting of 16 questions, each 4 credits; 64 credits total) as well as the tutorial part (preparation and presentation of answers to problems with a total of 20 credits, completion of the mini-quizzes with a total of 20 credits, and a final tutorial exam with a total of 20 credits).  Each of these two partial exams contribute one half to the final grade.


Examination topic(s)

Lecture and tutorial content.

Assessment criteria / Standards of assessment for examinations

The grading scheme for the lecture is the following: 

Credits
Grade
59 - 64
  Sehr gut (A)
54 – 58
  Gut (B)
49 – 53      
  Befriedigend (C)
44 – 48
  Genügend (D)
00 – 43    
   Nicht genügend (E)

The grading scheme for the tutorial part is the following:

CreditsGrade
53– 60
Sehr gut (A)
46– 52
Gut(B)
38– 45
Befriedigend(C)
30– 37
Genügend(D)
00– 29
Nicht genügend (E)

In case of failing one or both parts of the course (lecture or tutorial part), the entire course must be retaken. (This is required by law!)

Grading scheme

Grade / Grade grading scheme

Position in the curriculum

  • Bachelor's degree programme Business Administration (SKZ: 518, Version: 18W.1)
    • Subject: Volkswirtschaftslehre (Compulsory subject)
      • 3.2 Volkswirtschaftslehre II: Mikroökonomik ( 0.0h VC / 6.0 ECTS)
        • 607.135 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
          Absolvierung im 2., 3., 4., 5. Semester empfohlen
  • Bachelor's degree programme Applied Business Administration (SKZ: 518, Version: 14W.3)
    • Subject: Grundlagen der Volkswirtschaftslehre (Compulsory subject)
      • §9(1) Mikroökonomik ( 3.0h VC / 6.0 ECTS)
        • 607.135 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
  • Bachelor's degree programme International Business and Economics (SKZ: 516, Version: 19W.1)
    • Subject: Principles of Economics (Compulsory subject)
      • 2.2 ECON 1: Microeconomics ( 0.0h VC / 6.0 ECTS)
        • 607.135 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
          Absolvierung im 1., 2., 3. Semester empfohlen

Equivalent courses for counting the examination attempts

Wintersemester 2023/24
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.137 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2022/23
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.137 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2021/22
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.137 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2020/21
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2019/20
  • 607.135 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
  • 607.136 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Sommersemester 2019
  • 607.135 VC Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2018/19
  • 607.135 VC Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2004/05
  • 607.137 VO Grundlagen der Makroökonomik / Repetitorium (2.0h / 3.0ECTS)