607.110 (20W) Introduction to Economics

Wintersemester 2020/21

Ende der Anmeldefrist
31.10.2020 23:59

Erster Termin der LV
05.10.2020 09:00 - 10:30 , ONLINE Off Campus
... keine weiteren Termine bekannt


Bedingt durch die COVID-19-Pandemie können kurzfristige Änderungen bei Lehrveranstaltungen und Prüfungen (z.B. Absage von Präsenz-Lehreveranstaltungen und Umstellung auf Online-Prüfungen) erforderlich sein.

Weitere Informationen zum Lehrbetrieb vor Ort finden Sie unter: https://www.aau.at/corona.
LV-Titel englisch
Introduction to Economics
mögliche Sprache/n der Leistungserbringung
zum Moodle-Kurs

Because of significant public health related uncertainty in the coming academic year, some or all aspects of the course, its contents, and the announced exam structure may change during the course.  All changes will be communicated during the lectures and posted on the Moodle course website.

Zeit und Ort

Beachten Sie bitte, dass sich aufgrund von COVID-19-Maßnahmen die derzeit angezeigten Termine noch ändern können.
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Intendierte Lernergebnisse

At the end of this course, you will be able to appreciate what economics is, what it tries to accomplish, and what you will need to know in order to do it. You will have acquired a basic understanding of what microeconomic analysis does. You will be able to use mainly graphical analysis to solve consumer and producer problems and find equilibria in basic strategic interactions. More importantly, you should be able to converse freely on current topics in economics.


This module is designed as a first introduction to economics for the Bachelor Programme in International Business and Economics. The course presents a non-rigorous first overview which is intended to be motivating. This does not mean that the material is not also challenging. We will introduce you to the economic view on the main problems of our times and will point to possible solutions. There are no formal prerequisites but high-school level knowledge of calculus and analysis would probably not do much harm. The main textbook used is The Core Team (2017) referred to as [CE] below, freely available from https://www.core-econ.org/.

The method of delivery is lectures - they are all available as videos in Moodle!

There is a wealth of quizzes, data sets, and problems for self study available on this site that we most emphatically encourage you to make use of.

Course Outline

1. The Capitalist Revolution [CE, chapter 1]
2. Technological change, population, & growth [CE, chapter 2]
3. Scarcity, work, & choice [CE, chapter 3]
4. Social interactions [CE, chapter 4]
5. Property & power: mutual gains & conflict [CE, chapter 5]
6. Owners, managers, & employees [CE, chapter 6]
7. The firm & its customers [CE, chapter 7]
8. Supply & demand: price-taking and competitive markets [CE, chapter 8]


The Core Team. (2017). The Economy. Oxford, UK: Oxford University Press.



Examination will be by means of a multiple choice exam (for details, see the Moodle eLearning page of this course). There will be 8 questions (each with 4 possible answers), worth 1 point per answer. The total maximum is therefore 32 points. Since you can get the expected value of 50% without knowing anything, the passmark of 70% (=23 points) is relatively low.


Course content


Multiple choice exam.


Note/Grade Benotungsschema

Position im Curriculum

  • Besonderer Studienbereich Nachhaltigkeit (SKZ: 999, Version: 12W.1)
    • Fach: LV-Pool (Wahlfach)
      • Nachhaltigkeit ( 4.0h SE / 8.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
  • Erweiterungscurriculum Nachhaltigkeit (Version: 15W.1)
    • Fach: Nachhaltigkeit (Pflichtfach)
      • Vertiefung Nachhaltige Entwicklung, Schwerpunkt Methoden ( 0.0h XX / 4.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
  • Erweiterungsstudium (UG §54a) Nachhaltige Entwicklung und Energie (NhEE) (ES) (SKZ: 011, Version: 20W.1)
    • Fach: Gebundenes Wahlfach 3: Spezialisierung in einem der Vertiefungsfächer (Wahlfach)
      • 5.1 Lehrveranstaltungen Spezialisierung in einem der Vertiefungsfächer ( 0.0h XX / 4.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
  • Bachelorstudium International Business and Economics (SKZ: 516, Version: 19W.1) Teil der STEOP
    • Fach: Principles of Economics (Pflichtfach)
      • 2.1 Introduction to Economics (LV ist Teil der StEOP) ( 0.0h VO, VI / 2.0 ECTS)
        • 607.110 Introduction to Economics (1.0h VO / 2.0 ECTS)
          Absolvierung im 1. Semester empfohlen

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