Macro- and Microeconomics

Description

Content: Case studies Performance assessment: Continuous examination character Integrative module Competences: Upon completion of this submodule, students will be able to: Knowledge and content • describe and discuss the economic behavior model of Homo oeconomicus. • describe and discuss economic systems and economic policy approaches. • explain economic policy concepts (e.g., liberalism, Keynesianism, monetarism, social market economy, and communism). • describe national accounts and name, explain, and discuss key indicators (e.g., GDP, business cycle, inflation). • describe market forms (perfect markets, monopoly, oligopoly). • outline the interaction of supply and demand in markets and explain it using various theories (e.g., household theory, production and cost theory). • describe and discuss the price mechanism and market equilibrium. • list publicly accessible data sources for economic data (e.g., Statistik Austria, ECB, OECD, IMF). Skills • apply economic formulas and analyze their results and transfer them to examples from their own industry. • assess cyclical developments. • use digital economic data for research [description cut off]