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Module name (EN): Microeconomics
Degree programme: International Business, Bachelor, ASPO 01.10.2017
Module code: BIBW-120
SAP-Submodule-No.: P420-0111
Hours per semester week / Teaching method: 4V (4 hours per week)
ECTS credits: 5
Semester: 1
Mandatory course: yes
Language of instruction:
Written exam (90 minutes / can be repeated semesterly)

[updated 14.03.2018]
Applicability / Curricular relevance:
BIBW-120 (P420-0111) International Business, Bachelor, ASPO 01.10.2013, semester 1, mandatory course
BIBW-120 (P420-0111) International Business, Bachelor, ASPO 01.10.2017, semester 1, mandatory course
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 150 hours (equivalent to 5 ECTS credits).
There are therefore 105 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
Recommended as prerequisite for:
BIBW-350 Macroeconomics
BIBW-610 Foreign Trade and Payments
BIBW-623 Economic Policy (compulsory elective module 2)

[updated 14.03.2018]
Module coordinator:
Prof. Dr. Markus Münter
Prof. Dr. Markus Münter

[updated 26.02.2018]
Learning outcomes:
After successfully completing this module, students will have acquired knowledge about microeconomic considerations and models which can be used to:
- explain consumer and business behavior and the decisions of consumers and businesses in markets,
- analyze and develop business strategies in different market structures,
- work on case studies on consumer behavior and business strategies.
[Key learning objectives. Students will:
_   understand how to apply basic microeconomic principles and concepts
_   understand and explain consumer behavior and decision making
_   understand and explain company behavior and how managers make decisions
_   be able to explain and analyze company strategies and their relation to different types of market structures, as well as develop their own strategies]

[updated 04.02.2020]
Module content:
_        Consumer behavior and demand decisions
_        Decisions with regard to risk and from a behavioral perspective
_        Companies, competition and market structure
_        Company size and production decisions
_        Costs, restructuring and M&A
_        Perfect competition and the monopoly as a framework for competition policy
_        Pricing strategies with market power
_        Strategic decisions with the game theory
_        Strategic competition in the oligopoly
[Structure and content:
A)  How do consumers behave?
_   Consumer behavior and demand
_   Uncertainty, risk and behavioral economics
B)  How do companies and managers make decisions?
_   Theory of the company, market structure and competition
_   Company size and production decisions
_   Costs, restructuring and M&A
C)  How do companies compete?
_   Perfect competition and the monopoly as a framework for competition policy
_   Pricing with market power
_   Strategic decision-making with the game theory
_   Strategic competition in an oligopoly]

[updated 14.03.2018]
Teaching methods/Media:
Lecture, exercises, case studies, workshop.

[updated 14.03.2018]
Recommended or required reading:
_        Pindyck, R. and Rubinfeld, D., Microeconomics, latest edition, Pearson, New Jersey.
_        Besanko, D. and Braeutigam, R., Microeconomics, latest edition, Wiley, New Jersey.
_        Frank, R. and Cartwright, E., Microeconomics and behaviour, latest edition, McGraw Hill, Maidenhead.

[updated 14.03.2018]
[Sat Jul  2 21:33:13 CEST 2022, CKEY=imi, BKEY=ibw3, CID=BIBW-120, LANGUAGE=en, DATE=02.07.2022]