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351-0551-00L 3 Credits NDS , MSC D-MATH , D-MTEC

Introduction to Economics

Lecturers & Examiners: Prof. Dr. Jan-Egbert Sturm
VVZ CR n/a

Last Updated: 2026-02-05 15:06:35

Abstract

A problem-oriented introduction to economics: What factors drive supply and demand? How does the market work? Why do some market forms lead to socially undesirable results? How can we explain fluctuations of national economic activity? What can economic policy do against unemployment and inflation. What significance do international economic relations have for Switzerland?

Objective

This lecture will introduce the fundamentals of micro- and macroeconomic theory and explain their relevance to every-day economic problems.

Content

This course helps you understand the world in which you live. There are many questions about the economy that might spark your curiosity. Why do airlines charge less for a return ticket if the traveller stays over a Saturday night? Why is Catherina Zeta Jones paid so much to star in films? Why are living standards so meagre in many African countries? Why do some countries have high rates of inflation while others have stable prices? Why have some European countries adopted a common currency? These are just a few of the questions that this course will help you answer. Furthermore, this course will make you a more astute participant in the economy. As you go about your life, you make many economic decisions. While you are a student, you decide how many years to stay in full-time education. Once you take a job you decide how much of your income to spend, how much to save and how to invest your savings. One day you may find yourself running a small business or a large firm, and you will decide what prices to charge for your products. The insights developed in this course will give you a new perspective on how best to make these decisions. Studying economics will not by itself make you rich, but it will give you some tools that may help in that endeavour. Finally, this course will give you a better understanding of the potential and limits of economic policy. As a voter, you help choose the policies that guide the allocation of society’s resources. When deciding which policies to support, you may find yourself asking various questions about economics. What are the burdens associated with alternative forms of taxation? What are the effects of free trade with other countries? What is the best way to protect the environment? How does the government budget deficit affect the economy? These and similar questions are always on the minds of policy makers.

Resources

Lecture Notes

Lecture notes, electronic learning environmentwww.vwl.ethz.ch

Literature

The set up of the course will closely follow the book of Mankiw, N. Gregory and Taylor, Mark P., (2006): Economics, Thomson Learning, London. The Polybuchhandlung will organize a lecture hall sale at the beginning of the term. Besides this textbook, the slides, lecture notes and electronic learning environment will cover the content of the lecture and the exam questions.

General Information

Language
English
Levels
NDS , MSC
Frequency
Yearly recurring

Examination

Type
end-of-semester examination

Course Components

Type Title Time & Place Hours
lecture Introduction to Economics
  • Tue 15:15-17:00 (HG F 3)
2 h weekly

Offered In