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Fundamentals of Economics

Module name (EN):
Name of module in study programme. It should be precise and clear.
Fundamentals of Economics
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
Industrial Engineering, Bachelor, ASPO 01.10.2013
Module code: WIBASc135
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.
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.
2V+2U (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.
Semester: 1
Mandatory course: yes
Language of instruction:
Written exam

[updated 02.07.2019]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

WIBASc135 (P450-0051) Industrial Engineering, Bachelor, ASPO 01.10.2013 , semester 1, mandatory course
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):
Recommended as prerequisite for:
WIBASc-525-625-W12 Current Topics and Challenges in Business Enterprises (Seminar)

[updated 11.02.2020]
Module coordinator:
Prof. Dr. Uwe Leprich
Prof. Dr. Uwe Leprich

[updated 02.01.2020]
Learning outcomes:
After successfully completing this module students will:
_        have mastered the general economic approach to practical problems
_        be able to explain the theoretical foundations of economic theory and critically examine their assumptions
_        have an overview of economic policy fields and be able to sort economic questions/problems accordingly
_        be proficient in national accounts figures, including selected key figures
_        be able to identify instabilities in the economy and propose solutions for eliminating them

[updated 02.07.2019]
Module content:
Part A. Basic economics and its theories
1.        Introduction: What is economics?
2.        Basic economic questions and concepts
Part B. Economic theory of markets
3.        Principles of the Neoclassical Microeconomic Theory
4.        Criticism of the Neoclassical Microeconomic Theory
Part C. Regulatory policy in the market economy
5.        Competition policy
6.        Environmental policy
Part D. Macroeconomic accounting
7.        National accounts (NA)
Part E. Stability policy in the market economy
8.        Stability policy objectives and their indicators
9.        Stability policy instruments and approaches
a.        Monetary policy
b.        Asset and distribution policy
Part F. Foreign Trade
10.        Principles of foreign trade and globalization
Students will research solutions to selected tasks and present them orally. Worksheets.

[updated 02.07.2019]
Teaching methods/Media:
A detailed outline with references and a set of slides will be provided for this module.

[updated 02.07.2019]
Recommended or required reading:
_        Baßeler, Ulrich/Heinrich, Jürgen/Utecht, Burkhard: Grundlagen und Probleme der Volkswirtschaft; 19. Auflage, Schäffer-Poeschel, Stuttgart 2010
_        Bofinger, Peter: Grundzüge der Volkswirtschaftslehre. Eine Einführung in die Wissenschaft von Märkten, 3. Auflage, Pearson Studium, 2010
_        Flassbeck, Heiner: 50 einfache Dinge, die Sie über unsere Wirtschaft wissen sollten, Piper Verlag, Frankfurt/M. 2006
_        Rogall, Holger: Nachhaltige Ökonomie. Ökonomische Theorie und Praxis einer Nachhaltigen Entwicklung, Metropolis Verlag, Marburg 2011

[updated 02.07.2019]
[Thu Jun 13 08:28:35 CEST 2024, CKEY=wwxgvx, BKEY=wi2, CID=WIBASc135, LANGUAGE=en, DATE=13.06.2024]