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Microeconomics

Module name (EN):
Name of module in study programme. It should be precise and clear.
Microeconomics
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
International Tourism-Management, Bachelor, ASPO 01.10.2020
Module code: BITM-340
SAP-Submodule-No.:
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
P440-0114
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
4V (4 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
5
Semester: 3
Mandatory course: yes
Language of instruction:
English
Assessment:
Written exam (90 minutes / Can be repeated semesterly)

[updated 17.09.2018]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

BITM-120 (P420-0111) International Tourism-Management, Bachelor, ASPO 01.10.2013 , semester 1, mandatory course
BITM-120 (P420-0111) International Tourism-Management, Bachelor, ASPO 01.10.2015 , semester 1, mandatory course
BITM-340 (P440-0114) International Tourism-Management, Bachelor, ASPO 01.10.2017 , semester 3, mandatory course
BITM-340 (P440-0114) International Tourism-Management, Bachelor, ASPO 01.10.2020 , semester 3, mandatory course

Suitable for exchange students (learning agreement)
Workload:
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
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):
None.
Recommended as prerequisite for:
BITM-511 Sustainability in Tourism
BITM-521 Foreign Trade and Economic Policy


[updated 06.03.2020]
Module coordinator:
Prof. Dr. Markus Münter
Lecturer: Prof. Dr. Markus Münter

[updated 26.06.2017]
Learning outcomes:
After successfully completing this module, students will have acquired knowledge about microeconomic theories and models that 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 be able to explain consumer behavior and decision making
_   understand and be able to 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 17.09.2018]
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 17.09.2018]
Teaching methods/Media:
Lecture, exercises, case studies, workshop.


[updated 17.09.2018]
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 17.09.2018]
[Sun Apr 21 01:36:16 CEST 2024, CKEY=imk, BKEY=itm5, CID=BITM-340, LANGUAGE=en, DATE=21.04.2024]