Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


After this course, the student will have a basic understanding of the aims and objectives of normative and positive economics. The student understands how markets and other allocation mechanisms operate and how to evaluate their economic performance.


Credits: 6

Schedule: 06.09.2022 - 21.10.2022

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Juuso Välimäki

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English


  • valid for whole curriculum period:

    Firms and consumers in modern economies. Utility maximization and consumer welfare. Profit maximization and firms performance. Price mechanism and economics incentives. Strategic interactions and externalities.

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Examination, exercises and class contribution.

  • valid for whole curriculum period:

    In total 160h, consisting of lectures and exercises and independent work.


Substitutes for Courses
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth


Further Information
  • valid for whole curriculum period:

    Teaching Language : English

    Teaching Period : 2022-2023 Autumn I
    2023-2024 Autumn I

    Enrollment :

    A maximum of 65 students can be accepted to the course. Priority is given to:
    1.) Students in BSc programme in Economics
    2.) Students in BSc programme in Science and Technology and Students in BSc programme in Design
    3.) Other Aalto students.