WISO100252 Basics of microeconomics

Type
course with non-continuous assessment
Semester hours
3
Lecturer (assistant)
Kohrs, Marie , Pirkner, Philip , Salhofer, Klaus
Organisation
Sustainable Economic Development
Offered in
Wintersemester 2026/27
Languages of instruction
Deutsch
Content

- Introduction, basic concepts, and scope
- Demand and supply
- Elasticities
- Supply, demand, and economic policy measures
- Firms in competitive markets
- Consumer theory
- Welfare economics
- Costs of taxation
- International trade
- Externalities and public goods
- Market power
Previous knowledge expected

No formal prerequisites
Basic knowledge of maths (simple algebra, solving simple systems of equations with 2 unknowns, basic understanding of functions) is expected
Interest in economic issues and openness to new theories and concepts is a great advantage! :)
Objective (expected results of study and acquired competences)

Using the methods and skills they have acquired, students can discuss current economic issues from various perspectives, employing appropriate economic terminology. They can analyze these problems in a logically consistent manner through abstraction, and develop and compare potential solutions. They can explain how market changes and economic policy interventions affect prices and quantities, and evaluate the resulting impacts on social welfare and its distribution.

Students are capable of assessing the opportunities and risks arising from economic and political changes in their professional environment and of contributing responsibly to the development of solutions.

Students strengthen their ability to make complex economic and societal interrelationships comprehensible through abstraction, thereby enabling successful discussion with others. They gain a better understanding of economic dynamics and are able to apply the principles of economic thinking to personal decision-making situations.
You can find more details like the schedule or information about exams on the course-page in BOKUonline.