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351-1158-AAL 3 Credits DR , MSC D-USYS , D-MTEC
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Principles of Economics

Lecturers & Examiners: Prof. Dr. Ursula Renold, Dr. Filippo Pusterla, Dr. Patrick McDonald, Dr. Amela Zubovic
Enrolment ONLY for MSc students with a decree declaring this course unit as an additional admission requirement. Any other students (e.g. incoming exchange students, doctoral students) CANNOT enrol for this course unit.
VVZ CR n/a

Last Updated: 2026-06-01 11:31:18

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