860-0007-00L  Principles of Economics

SemesterAutumn Semester 2018
LecturersS. Sarferaz, J.‑P. Nicolai
Periodicityyearly recurring course
Language of instructionEnglish
CommentOnly for Science, Technology, and Policy MSc and MAS.

AbstractThis course is an introduction to the study of economics. Students will learn about the economic way of thinking, the functioning of a market economy, as well as the potentials and limitations of economic policies to govern the behavior of individuals and the economy. The course is divided into two parts, the first covering microeconomic analysis, and the second on macroeconomics.
ObjectiveThe first part of the course focuses on microeconomic analysis, including the behavior of individuals and firms, supply and demand analysis, and market failures. Students will also be introduced to the use of microeconomic thought to influence the behavior of individuals and firms and to address market failures.
The second part focuses on macroeconomic concepts, including national production, employment, inflation, and growth theories. Students will then learn about macroeconomic policies, such as monetary and fiscal policy, often used to stabilize short-run economic fluctuations.
Lecture notesLecture slides will be made available by email or via course website.
LiteratureMankiw, N. G. and Taylor, M. P. (2014), Economics, Cengage Learning, 3rd Edition.