[ 514INMIIMIU21 ] IK Introduction to Microeconomics

Workload Education level Study areas Responsible person Hours per week Coordinating university
3 ECTS B1 - Bachelor's programme 1. year Economics Michael Irlacher 2 hpw Johannes Kepler University Linz
Detailed information
Original study plan Bachelor's programme International Business Administration 2021W
Objectives The students have knowledge of the basic principles of microeconomics. They are able to solve real-world microeconomic questions and problems. The students know the analytical tools that allow them to study constitutive and farther-reaching subjects in economics. The students learn economic thinking as well as how to grasp real-world problems in a concise and formal way.
Subject Clarification of the following basic terms will be covered:

  • Supply and demand
  • Elasticities
  • Preferences and budget constraints
  • Optimal consumption
  • Demand function, and consumer surplus
  • Production function
  • Costs
  • Profit maximization
  • Supply function and producer surplus
  • Welfare analysis
  • Monopoly
  • Monopolistic Competition and oligopoly
  • Cournot, Stackelberg, and Bertrand equilibria
Criteria for evaluation written exam, participation
Methods Calculus, graphical analysis and interpretation, logical reasoning
Language English
Study material Slides and problem sets Textbook: Robert S. Pindyck and Daniel L. Rubinfeld. “Microeconomics”, Pearson, Prentice Hall, 7th Edition.
Changing subject? No
Further information The IK Introduction to Microeconomics complements the KS Introduction to Microeconomics. The purpose of the IK is to provide students with an opportunity to deepen the knowledge from the KS by discussing the material and solving problem sets in class. Accordingly, the IK should be taken in the same semester together with the KS.
On-site course
Maximum number of participants 40
Assignment procedure Assignment according to priority