Microeconomics

Course content

The course teaches the basics of microeconony.

The core contents should include:
[1] Prices and markets: nominal vs. real prices, market forms, market prices
[2] supply and demand: supply and demand curves, elasticities, market balance
[3] Consumer behavior: consumption, indifference curves, subsitution, budget constraints, marginal utility, preferences
[4] Production: production functions of companies; Production functions of banks and insurance companies, marginal returns, marginal productivity,
[5] Costs: importance of costs in production, marginal costs
[6] Pricing and market power: monopolies, oligopolies, competition

The course is completely held as a blended learning course to promote the digital skills of the participants and the flexibility of the time.
The language of instruction is English.

Learning outcomes

After completing this module, graduates know the basics of Austrian corporate law, know the characteristics of the Austrian corporate forms of companies and especially those relevant to the banking and insurance industries. The participants also know the factors influencing the company's success from a microeconomic point of view and understand how price and market mechanisms work. Moreover, the students have an overview of the functions and tasks of management in organizations.

Recommended or required reading and other learning resources / tools

Literature: M. Weber, Unternehmens- und Gesellschaftsrecht - Eine Einführung;
Krejci, Unternehmensrecht;
Rieder/Huemer, Gesellschaftsrecht;
Roth/Fitz/Murschitz, Unternehmensrecht;
Orac-Rechtsskripten zu Personen- und Kapitalgesellschaften;

Kieser, Alfred/Walgenbach, Peter: Organisation;
Frese, Erich/Graumann, Matthias/Theuvsen, Ludwig: Grundlagen der Organisation;
Schreyögg, Georg/Koch, Jochen: Grundlagen des Managements: Basiswissen für Studium und Praxis;

Pindyck, Robert S. und Daniel L. Rubinfeld: Mikroökonomie;
Samuelson, Nordhaus: Economics;

Mode of delivery

VO

Prerequisites and co-requisites

Main features of the law

Assessment methods and criteria

partial test and final exam