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Microeconomics

Module name (EN): Microeconomics
Degree programme: International Business, Bachelor, ASPO 01.10.2020
Module code: IBB-340
Hours per semester week / Teaching method: 4V (4 hours per week)
ECTS credits: 5
Semester: 3
Mandatory course: yes
Language of instruction:
English
Assessment:
Written exam (90 minutes / can be repeated semesterly)
Curricular relevance:
IBB-340 International Business, Bachelor, ASPO 01.10.2020, semester 3, mandatory course
Workload:
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):
IBB-111 Introduction to Business
IBB-140 Applied Business Mathematics
IBB-230 Business Statistics


[updated 04.02.2020]
Recommended as prerequisite for:
IBB-460 International Economics
IBB-610 Competition and Corporate Strategy


[updated 02.03.2020]
Module coordinator:
Prof. Dr. Markus Münter
Lecturer:
Prof. Dr. Markus Münter


[updated 04.02.2020]
Learning outcomes:
After successfully completing this module, students will have a sound overview of the fundamentals of microeconomics and can analyze microeconomic problems in a differentiated way and apply theoretical and empirical models, in particular to:
 
        explain behavior and decision-making of humans in markets from a customer or management perspective,
        describe and justify the relationship between empirical findings and theoretical models in microeconomics,
        understand and analyze corporate strategies in different market structures and develop them qualitatively
        and quantitatively,
        work on case studies on customer behavior and corporate strategy in various markets and industries and
        transfer insights to current developments in the field of entrepreneurship and digitalization.


[updated 04.02.2020]
Module content:
Content:
 
        Microeconomics, competition and strategic behavior
        Consumer behavior, market delineation and network effects
        Decision-making under risk and from a behavioral perspective
        Firms, competition and innovation
        Firm size, technology and production decisions
        Costs, restructuring and M&A
        Perfect competition and monopoly as a framework for competition policy
        Pricing strategies and price discrimination of firms with market power
        Strategic decisions with game theory
        Strategic competition in oligopoly

[updated 05.12.2019]
Teaching methods/Media:
Lecture, exercises, case studies, workshop.

[updated 25.11.2019]
Recommended or required reading:
Literature:
 
        Münter, M.T., Mikroökonomie, Wettbewerb und strategisches Verhalten, München, 2018.
        Hirschey, M., Managerial economics, London-Boston 2015.
        Kreps, D., A course in microeconomic theory, Princeton 1990.
        McGuigan, J.R., Moyer, R.C. und Harris, F.H.B., Managerial economics: applications, strategy, and tactics,
        Mason 2015.

[updated 05.12.2019]
[Mon Nov 30 23:54:40 CET 2020, CKEY=imw, BKEY=ibw4, CID=IBB-340, LANGUAGE=en, DATE=30.11.2020]