This course offers students an introduction to general economic concepts, principles and issues gathered under the two broad headings of microeconomics and macroeconomics. In the microeconomics ... Lesen Sie weiter
This course offers students an introduction to general economic concepts, principles and issues gathered under the two broad headings of microeconomics and macroeconomics. In the microeconomics sessions the theory of individual choice subject to technological limits and economic constraints will be provided for households and business firms in order to explain spending patterns of the former and input mixtures and scale of production of the latter. The interaction of households and firms is analyzed using the framework of supply and demand. Students will learn how different market structures and particular government economic policies can affect economic performance. The aggregate economy is analyzed using the national income and product accounting framework of macroeconomics. Economic growth over the long run and the balance between aggregate saving and aggregate investment in the short run provide the two major themes of macroeconomics for our course discussions.
At the end of the course, students will be capable of thinking in the basic conceptual models of micro- and macroeconomics and to reason in terms of their theoretical knowledge. Students will learn to draw economic policy inferences and to recognize the potential constraints in their implementation. They will think critically about the limits of the various models and verify if the respective model fits the situation they are explaining.
Requirement to pass this class: Students are expected to be present and active for at least 4/5s of all classes and to perform sufficiently on all assignments over the course of the semester. Students wishing to receive a grade in the course will be given an in-class exam during the last class of the semester. Knowledge and understanding of key topics and their application in a methodical and structured manner is necessary to pass the exam. The seminar will be conducted in English.