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Principles of Economics
Last Updated: 2026-02-05 16:31:17
Abstract
Students understand basic microeconomics and macroeconomics problems and theories. They are able to argue along economic principles and to judge policy measures.
Objective
Upon successful completion of the course, you will be able to: - Describe the basic microeconomic and macroeconomic problems and theories. - Make economic arguments to a given topic. - Evaluate economic measures.
Content
Households, firms, supply and demand: How are household preferences and consumption behavior formed? How does a household react to price changes? How are goods prices formed? At what prices are firms willing to offer goods? How do we make economic decisions? Markets: What is "perfect competition" and how does a competitive market work? Are monopolies always a bad thing? How can governments influence the market? Market failure: What happens when prices give wrong signals? Labor market: How do supply and demand work in the labor market? What influences unemployment? National Accounts: How big is the Swiss economy? Foreign trade: Why do countries trade with each other? What are the consequences for the domestic market? Money and inflation: What exactly is money? How does money creation work, and what happens when there is too much (or too little) money on the market? Students will be asked to apply these concepts to issues in their own field of study and to current issues in society.
Resources
Literature
Mankiw, N.G.: "Principles of Economics", 8th edition, South-Western College/West, Mason 2018.
General Information
- Language
- English
- Levels
- DR , MSC
- Frequency
- Semesterly recurring
Examination
- Type
- session examination
- Mode
- written 90 minutes
- Aids
- 30-page summary (max 15 A4 sheets double-sided or 30 A4 sheets single-sided); non-programmable, non-communicable and non-memorable calculator, and a dictionary for foreign speakers
Course Components
| Type | Title | Time & Place | Hours |
|---|---|---|---|
| revision course / private study |
Principles of Economics
Self-study course. No presence required.
|
No time listed | 90 h semesterly |
Offered In
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Course Units for Additional Admission Requirements (The courses below are only available for Master students with additional admission requirements.)
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Management, Technology and Economics (General Courses) (In the section "general courses", lectures are listed which are offered by the D-MTEC as service lectures for students not belonging to D-MTEC.)