Foundations of Economics

The lecture offers an introduction into economics. It makes students familiar with the basic terms and methods in both micro- and macroeconomics. Students will gain an understanding of the main economic principles, such as scarcity, division of labor, opportunity costs, and incentives. Furthermore, they will get an overview of different types of markets and how supply and demand interact on these markets, will learn the basics of labor markets and the importance of long-term analysis for macroeconomic issues and will unterstand the basics of open economics. Students will understand the sources and implications of the financial crisis since 2007. They will gain insights into the foundations of game theory and will develop a basic understanding of aims, methods, and problems of empirical research.

In general, students will get to know numerous practical examples from economic life and will develop skills to judge the relevance of micro- and macroeconomic concepts for real-life situations. 

Target Group: Bachelor students during their basic studies

Term: Winter Term

Time:
Lecture:   Tuesdays, 5.00-6.30 p.m., virtual
Tutorial 1: Thursdays, 10.00 a.m.-12.00 (noon), NB-301 (Tutorial on 23.12. will be asychron virtual)
Tutorial 2: Thursdays, 2.00-4.00 p.m., NB-301 (Tutorial on 23.12. will be asychron virtual)

Instructors:
Lecture: Prof. Dr. Simon Wiederhold
Tutorial:  Katharina Hartinger

ECTS: 5 ECTS

Language: German

Restrictions: none

Registration: Exam registration via KU.Campus

Course Description: see this PDF

Course Documents: see Ilias

Exam Dates: tba