731127 Basics of microeconomics

Semester hours
Lecturer (assistant)
Kniepert, Martin
Offered in
Sommersemester 2023
Languages of instruction


1. The lecture and its position the study program UBRM
2. What is Economics all about? And Microeconomics?
3. Scarcity, opportunity cost, division of labour and comparative advantage
4. The market: Supply and demand, price determination, equilibrium, consumer and producer rent
5. Elasticity, functional forms
6. Forms of state intervention: Price administration, tariffs, levies, subsidies, welfare analysis
7. Theory of the household: Utility functions, optimal consumption, income- and substitution effects
8. Theory of the firm: Production functions, factor substitution, economies of scale, cost function, factor demand
9. Markets: Polypolistic and monopolistic price determination, welfare analysis
10. Market failure and policy options in case of external effects and public goods

Objective (expected results of study and acquired competences)

Participants will become familiar with fundamentals of microeconomic theory. They are thus strengthened in their analysis and reasoning ability in terms of economic and especially environmental-economic issues.

This event is part of the "Studieneingangs- and -orientierungsphase (STEOP)" of the study programme Environment and Natural Resources Management (UBRM).
It is therefore suitable for this purpose since the question of the development and use of resources since its inception is subject of economic sciences.
Thus, students are fundamentally supported in their assurance of their study choice.

Dealing with Microeconomics offers in the course, but also outside of it, numerous opportunities, to illustrate or introduce references to lectures later in the study programme.
You can find more details like the schedule or information about exams on the course-page in BOKUonline.