607.110 (21W) Introduction to Economics

Wintersemester 2021/22

Time for applications expired.

First appointment of the course
06.10.2021 13:00 - 14:30 HS 7 On Campus
... no other known appontments

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
Attendance-based course (Online-Option )
Hours per Week
1.0
ECTS-credits
2.0
Registrations
37
Organisational Unit
Language of Instruction
English
Course begins on (set in LVOnline)
06.10.2021
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

Learning Outcome

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 overview

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.

Exam 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.

Modified examination information (exceptional COVID-19 provisions)

WINTER TERM 2021/22 : Examination will be by means of a multiple choice exam (for details, see the Moodle eLearning page of this course). There will be 7 questions (each with 4 possible true/false answers), worth 1 point per answer. The total maximum is therefore 28 points.  Since you can get the expected value of 50% without knowing anything, the passmark of 19 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.

Exam 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.

The exams take place online on the following dates: 

Friday, October 22, 2021             12:30-13:15

Tuesday, November 9, 2021       11:00-11:45

Thursday, November 25, 2021   14:30-15:15


Exam topics

Course content

Exam mode

Multiple choice exam.


Grading scheme

Grade / Grade grading scheme

Degree programmes

  • Besonderer Studienbereich Nachhaltigkeit (SKZ: 999, Version: 12W.1)
    • Fach: LV-Pool (Compulsory elective)
      • Nachhaltigkeit ( 4.0h SE / 8.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
  • Extension programme (UG §54a) Sustainable Development and Energy (SKZ: 011, Version: 20W.1)
    • Fach: Gebundenes Wahlfach 1: Vertiefung zu Nachhaltiger Entwicklung (Compulsory elective)
      • 3.1 Lehrveranstaltungen aus Vertiefung zu Nachhaltiger Entwicklung ( 0.0h XX / 4.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
  • Extension programme (UG §54a) Sustainable Development and Energy (SKZ: 011, Version: 20W.1)
    • Fach: Gebundenes Wahlfach 3: Spezialisierung in einem der Vertiefungsfächer (Compulsory elective)
      • 5.1 Lehrveranstaltungen Spezialisierung in einem der Vertiefungsfächer ( 0.0h XX / 4.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
  • Bachelor's degree programme International Business and Economics (SKZ: 516, Version: 19W.1) Teil der STEOP
    • Fach: 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 exam attempts

Sommersemester 2022
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2021
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Wintersemester 2020/21
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Sommersemester 2020
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)
Wintersemester 2019/20
  • 607.110 VO Introduction to Economics (1.0h / 2.0ECTS)