731115 Principles of economics

Semester hours
Lecturer (assistant)
Salhofer, Klaus , Hacek, Marion
Offered in
Wintersemester 2023/24
Languages of instruction


- Economic processes and key problems

- Actors, types of markets, income flows and identities

- Resources and Output,

- Efficiency, opportunity cost, optimal allocation, transaction costs

- Trade and comparative advantage

- Basics of household theory as well as production and ies

- Market price system and competition

- Aggregate Demand and Multiplier

- Monetary system

- Foreign trade

- Inflation and unemployment

Previous knowledge expected

Objective (expected results of study and acquired competences)

This lecture aims to give students a solid understanding of the basic principles and relationships within micro- and macroeconomics. Students should be able to apply this knowledge to key economic problems (both practical and political) in an appropriate and logical manner.
You can find more details like the schedule or information about exams on the course-page in BOKUonline.