The students
• can explain the basic economic terms, relevant indicators and methods.
• are able to research economic data, analyze subject-related texts and statistics.
• can identify and explain determinants of supply and demand as well as major problems of competition and their solution through government intervention.
• depict the composition of gross domestic product and the determinants of growth.
• are able to explain the importance of inflation and unemployment for macroeconomic performance.
• are able to explain the carriers and objectives of monetary and fiscal policy and discuss reasons for short-term economic fluctuations as well as potential intervention options.
• are familiar with the empirical significance of international economic activity and are able to interpret it in a business context.
• get to know the relevant actors and processes of international economic activity and discuss their role and importance.
• are able to analyze existing challenges and potentials of macroeconomic developments.
• can identify the ethical issues of economic developments, such as market solutions for resource management or labor market policy measures, and can analyze them with regard to their significance for consumers and companies.

none

• Terminology and basic principles of economics
• Microeconomics
• Functioning of markets
• Household theory
• Business theory
• Macroeconomics
• Macroeconomic data
• Long-term economic development
• Long-term view of money and prices
• Short-term economic fluctuations
• International Trade and Global Trends
• International factor markets
• Actors and processes of international economic activity
• Challenges and potentials of macroeconomic developments

Krugman, P./Wells, R. (2017): Volkswirtschaftslehre, 2. Aufl. Stuttgart: Schäffer-Poeschel.
Taylor, M.P./Mankiw, N.G. (2018): Grundzüge der Volkswirtschaftslehre, 7. Aufl. Stuttgart: Schäffer-Poeschel.
Krugman, P. R./Obstfeld, M./Melitz,M. (2019): Internationale Wirtschaft Theorie und Politik der Außenwirtschaft. London: Pearson.

Lecture, interactive studying of the contents as well as exercises in form of individual and group work, discussion

Integrated module examination
Final assessment type: final written exam