Economics (5 ECTS)

Learning outcomes

The student
• is able to conduct analyses of business and buyer behaviour and to evaluate economic policy measures and economic forecasts
• can relate economic variables to business strategy and understand complexity of relationships between economic variables.

Content

Introductory microeconomics
• Supply and demand analysis
• Market structures and industry analysis
• Production and costs
• Market failure

Introductory macroeconomics
• Goals of economic policy
• Circular flow of income
• Fiscal policy
• Money, interest and monetary policy
• Relationships between macroeconomic variables and government policy

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student
• has achieved the objectives of the course to a satisfactory level
• is able to identify, define and use concepts and models in the subject area of the course
• understands the conditions and principles of the development of expertise.

Assessment criteria, good (3)

The student
• has achieved the objectives of the course well, although there are still areas where knowledge and skills need to be improved
• has a good understanding of the concepts and models of the subject matter of the course and is able to carry out a reasoned analysis
• is able to apply what they have learned in leisure, learning and working life situations
• understands the importance of expertise in business and is able to analyse their own expertise.

Assessment criteria, excellent (5)

The student
• has achieved the objectives of the course with excellent marks
• has an excellent command of the concepts and models of the subject matter of the course
• is able to analyse clearly and reasonably and propose practical development measures
• has a good ability to apply what they have learned in leisure, learning and working life situations
• is able to analyse expertise in business and their own development towards expertise.

Assessment criteria, approved/failed

The student
• has achieved the objectives of the course to a satisfactory level
• is able to identify, define and use concepts and models in the subject area of the course
• understands the conditions and principles of the development of expertise.