[ 514INMIIMIK21 ] KS 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
Methods Calculus, graphical analysis and interpretation, logical reasoning
Language English
Study material Slides Textbook: Robert S. Pindyck and Daniel L. Rubinfeld. “Microeconomics”, Pearson, Prentice Hall, 7th Edition.
Changing subject? No
On-site course
Maximum number of participants 100
Assignment procedure Assignment according to priority