351-1158-AAL  Principles of Economics

SemesterAutumn Semester 2021
LecturersU. Renold, T. Bolli, P. McDonald, M. E. Oswald-Egg, F. Pusterla
Periodicityevery semester recurring course
Language of instructionEnglish
CommentEnrolment ONLY for MSc students with a decree declaring this course unit as an additional admission requirement.

Any other students (e.g. incoming exchange students, doctoral students) CANNOT enrol for this course unit.


351-1158-AA RPrinciples of Economics
Self-study course. No presence required.
90s hrsU. Renold, T. Bolli, P. McDonald, M. E. Oswald-Egg, F. Pusterla

Catalogue data

AbstractStudents understand basic microeconomics and macroeconomics problems and theories. They are able to argue along economic principles and to judge policy measures.
ObjectiveUpon successful completion of the course, you will be able to:
- Describe the basic microeconomic and macroeconomic problems and theories.
- Make economic arguments to a given topic.
- Evaluate economic measures.
ContentHouseholds, firms, supply and demand: How are household preferences and consumption behavior formed? How does a household react to price changes? How are goods prices formed? At what prices are firms willing to offer goods? How do we make economic decisions?
Markets: What is "perfect competition" and how does a competitive market work? Are monopolies always a bad thing? How can governments influence the market?
Market failure: What happens when prices give wrong signals?
Labor market: How do supply and demand work in the labor market? What influences unemployment?
National Accounts: How big is the Swiss economy?
Foreign trade: Why do countries trade with each other? What are the consequences for the domestic market?
Money and inflation: What exactly is money? How does money creation work, and what happens when there is too much (or too little) money on the market?

Students will be asked to apply these concepts to issues in their own field of study and to current issues in society.
LiteratureMankiw, N.G.: "Principles of Economics", 8th edition, South-Western College/West, Mason 2018.

German translation: Mankiw, N.G. & Taylor, M.P: Grundzüge der Volkswirtschaftslehre, 7th. edition, Stuttgart 2018.
Subject-specific CompetenciesConcepts and Theoriesassessed
Method-specific CompetenciesAnalytical Competenciesassessed
Personal CompetenciesCritical Thinkingassessed
Self-direction and Self-management assessed

Performance assessment

Performance assessment information (valid until the course unit is held again)
Performance assessment as a semester course
ECTS credits3 credits
ExaminersU. Renold, T. Bolli, P. McDonald, M. E. Oswald-Egg, F. Pusterla
Typegraded semester performance
Language of examinationEnglish
RepetitionRepetition possible without re-enrolling for the course unit.

Learning materials

Main linkLernumgebung Ökonomie (deutsche Lernumgebung)
Only public learning materials are listed.


No information on groups available.


There are no additional restrictions for the registration.

Offered in

Environmental Sciences MasterCourse Units for Additional Admission RequirementsE-Information