607.136 (22W) ECON 1: Microeconomics

Wintersemester 2022/23

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Erster Termin der LV
05.10.2022 10:00 - 11:30 V.1.07 On Campus
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Überblick

Bedingt durch die COVID-19-Pandemie können kurzfristige Änderungen bei Lehrveranstaltungen und Prüfungen (z.B. Absage von Präsenz-Lehreveranstaltungen und Umstellung auf Online-Prüfungen) erforderlich sein.

Weitere Informationen zum Lehrbetrieb vor Ort finden Sie unter: https://www.aau.at/corona.
Lehrende/r
LV-Titel englisch ECON 1: Microeconomics
LV-Art Vorlesung-Kurs (prüfungsimmanente LV )
LV-Modell Präsenzlehrveranstaltung
Semesterstunde/n 3.0
ECTS-Anrechnungspunkte 6.0
Anmeldungen 11 (24 max.)
Organisationseinheit
Unterrichtssprache Englisch
LV-Beginn 05.10.2022
eLearning zum Moodle-Kurs

Zeit und Ort

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LV-Beschreibung

Intendierte Lernergebnisse

To familiarize participants with fundamental concepts of microeconomics.

Lehrmethodik

This course consists of two parts, a lecture and a tutorial part. To prepare for class(es), please check out recommended readings and provided lecture slides.

In the lecture fundamental concepts of microeconomic theory are presented, in the tutorial part you will solve and review problems that are related to the theory presented. All tutorials are identical in structure.

For the tutorial part, you will have to prepare take home problem sets and participate in short quizzes at the end of tutorial sessions. In addition, there is a final exam for the tutorial part at the end of term.

All sessions on Tuesday and Wednesdays are identical in structure and content. Nevertheless, you have to register for one specific tutorial.

For the tutorial sessions, the lecture content is divided into 10 blocks (cf. “Lehrinhalte”).

Problem sets:


  • Problem sets will be made available via learning platform Moodle.
  • Until 8 p.m. the day before a morning tutorial or 12 a.m. the same day of an afternoon tutorial, in AAU’s student portal ZEUS, tick boxes of answers that you accurately prepared.
  • Please upload your answers – one file with all answers - via Moodle prior to the start of the related session. Please name the document as follows:
     “CourseNo_name_PSNo“ (e.g., “607.135_Smith_PS1”)
  • During the tutorial sessions, you will be randomly asked to present and explain answers that you marked: You should be able to explain your answer fully. You may be deducted up to 5 penalty points if you are absent without advance notice, or, if the instructor evaluates your presentation as insufficient.
  • A maximum of 20 credits can be earned from solving exercises of the problem sets.

Quizzes: 

For the final 15 minutes of each tutorial, you will participate in a mini quiz via Moodle. It consists of two questions, a multiple-choice and an open question. You can earn up to 2 credits for each quiz, i.e. you can reach a further 20 credits at maximum.

Tutorial exam:

The final exam of the tutorial part will take place at the beginning of February. The maximum score of the exam is 20 credits.


 There is a possibility to receive bonus credits for especially active participation during tutorial classes.

Inhalt/e

  • 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

(Reading) schedule for tutorial sessions: 


  1. Basics: Markets and Prices; Supply and Demand [P+R 2017], Ch. 1+2
  2. Supply and Demand; Elasticities [P+R 2017], Ch. 2
  3. Consumer Behaviour [P+R 2017], Ch. 3
  4. Individual demand and market demand [P+R 2017], Ch. 4
  5. Production [P+R 2017], Ch. 6
  6. Production cost [P+R 2017], Ch. 7
  7. Profit maximization and competitive supply [P+R 2017], Ch. 8
  8. Market power – Monopoly; General Equilibrium [P+R 2017], Ch. 10+16.2
  9. Game Theory [LBS 2008], Ch. 1-4 or [G 2008], Ch. 1.1+Ch. 2.1
  10. Markets with asymmetric information and auctions, [P+R 2017], Ch. 17+13.8

Curriculare Anmeldevoraussetzungen

  • 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.

Literatur

Main text book:

Pindyck, R. and Rubinfeld, D. (2017). Microeconomics. Pearson Prentice Hall.  [P+R 2009] The e-book is available in the library.

Additional textbooks useful with regard to course content about game theory: 

Gibbons, R. (1992). A Primer in Game Theory. Pearson. [G 2008]

Lleyton-Brown, K. and Shoham, Y. (2008). Essentials of Game theory. Morgan & Claypool Publishers. [LBS 2008]

Prüfungsinformationen

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.

Prüfungsmethode/n

Lecture and tutorial part are evaluated separately.

To pass Microeconomics, course participants have to pass both the lecture and the tutorial part. For the lecture, there will be a multiple-choice exam, consisting of 16 questions with max. 64 credits in total; for the tutorial part, there are problem sets (with max. total of 20 credits), mini-quizzes ( with max. total of 20 credits) and final tutorial exam (with max. total of 20 credits).

Pass mark for the lecture exam is 44 credits. Pass mark for the tutorial is 30 credits and additionally requires that for you have scored at least 8 credits in each component (problem sets, quizzes, final tutorial exam). Cf. grading tables below.

Both lecture and tutorial part account for 50% of the final grade.

The lecture’s final exam will take place online on campus. There is ONE possibility of re-take. 

For the tutorial part’s components there are no possibilities of re-take or compensatory measures, i.e. there is also no re-take for the tutorial part’s exam !


Prüfungsinhalt/e

Lecture and tutorial content.

Beurteilungskriterien/-maßstäbe

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!)

Beurteilungsschema

Note Benotungsschema

Position im Curriculum

  • Bachelorstudium Betriebswirtschaft (SKZ: 518, Version: 18W.1)
    • Fach: Volkswirtschaftslehre (Pflichtfach)
      • 3.2 Volkswirtschaftslehre II: Mikroökonomik ( 0.0h VC / 6.0 ECTS)
        • 607.136 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
          Absolvierung im 2., 3., 4., 5. Semester empfohlen
  • Bachelorstudium Angewandte Betriebswirtschaft (SKZ: 518, Version: 14W.3)
    • Fach: Grundlagen der Volkswirtschaftslehre (Pflichtfach)
      • §9(1) Mikroökonomik ( 3.0h VC / 6.0 ECTS)
        • 607.136 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
  • Masterstudium Information and Communications Engineering (ICE) (SKZ: 488, Version: 22W.1)
    • Fach: Management and Economics: Basic Courses (Wahlfach)
      • 3.3b Wahl von Lehrveranstaltungen aus den Pflichtfächern „Principles of Business“ und/oder „Principles of Economics“ aus dem Bachelorstudium „International Business and Economics (IBEC)“ ( 0.0h XX / 8.0 ECTS)
        • 607.136 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
  • Bachelorstudium International Business and Economics (SKZ: 516, Version: 19W.1)
    • Fach: Principles of Economics (Pflichtfach)
      • 2.2 ECON 1: Microeconomics ( 0.0h VC / 6.0 ECTS)
        • 607.136 ECON 1: Microeconomics (3.0h VC / 6.0 ECTS)
          Absolvierung im 1., 2., 3. Semester empfohlen

Gleichwertige Lehrveranstaltungen im Sinne der Prüfungsantrittszählung

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)
  • 607.137 VC ECON 1: Microeconomics (3.0h / 6.0ECTS)
Wintersemester 2021/22
  • 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 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)