European Master and Certification Program
in Risk Engineering and Management

F1-2:
Microeconomics

Course code: 128001
Language of instruction: English
Lecturers: Prof. Dr. Dr. h.c. Dirk Linowski (Steinbeis University Berlin), Constantin Schubart
Assessment: Defined in the module

Short description

The course in Microeconomics focuses on the micro-level of the economy (individuals, companies, industries). How are decisions made? Which motives are the basis for the decision? Which theories and models are the basis to describe the process of decision making? With this knowledge it will be understandable for the participants how to describe and calculate the optimal decision, the role of supply and demand, the rationale behind pricing, production and the influence of the market structure itself.

Objectives

The participants will:

- be introduced to Microeconomics through theory explaining behaviour of individual economic agents as well as the distribution of scarce goods and income among those,

- acquire knowledge about the goods demand mechanisms of private households,

- acquire knowledge about the goods supply mechanisms of companies and

- be able to understand the functions of markets and the relative pricing processes and are able to deduce important policy implications.

Target Attendees / Participants

Students of Steinbeis Master of Business Administration

Course Content by Units

Alignment of Microeconomics in Economic Sciences

Households theory:

- Preferences and benefits

- Demands for goods

- Factor offer

Theory of the firm:

- Production technology

- Supply of goods

- Factor demand

Market and price theory:

- Monopolistic competition

- Monopoly

- Oligopoly

- Cartel

General equilibrium theory

Teaching Methods

Classic lecturing

Free and interactive class discussion

Literature

Bender, D. u.a. (2007): Vahlens Kompendium der Wirtschaftstheorie und Wirtschaftspolitik, Band 1 und 2, 9. Uberarbeitete Auflage, Vahlen.

Frank, R. H. (2006): Microeconomics and behavior, 6th edition, McGraw-Hill / Irwin.

Mankiw. N. (2004): Grundzuge der Volkswirtschaftslehre (aus dem amerikanischen Englisch übertragen von Wagner, A.), 3. überarbeitete Auflage, Schaffer-Poeschel.

Mas-Colell, A. / Whinston. M. / Green, J. R. (1995): Microeconomic Theory, Oxford University Press.

Farnham, P. (2014): Economics for managers, 3rd edition, Pearsons.


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Contact: via email sti889@risk-technologies.com or phone +49 711 1839 781 or +49 711 1839 647
(Course profile ID: F1-2:, generated on November 19, 2018)