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 economics and will be able to apply economic thinking to practical societal issues. The student understands how markets and other allocation mechanisms operate and how to evaluate their economic performance. The student will also understand how market power and externalities lead to market inefficiencies and the policy responses to these problems. In addition, the student will have a basic understanding of aggregate economic phenomena including economic growth, business cycles, unemployment, savings, investment, inflation, fiscal and monetary policy and national accounts.

Credits: 6

Schedule: 28.02.2023 - 21.04.2023

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Tuukka Saarimaa

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:

    The course is an introduction to economic way of thinking and provides an overview of how the economy operates. During the course, we will analyze the behavior of individuals and firms and their strategic interactions, market power and externalities, determinants of business cycles, inflation and economic growth and economic policy responses.

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Examination and exercises

  • valid for whole curriculum period:

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


Substitutes for Courses
SDG: Sustainable Development Goals

    1 No Poverty

    2 Zero Hunger

    8 Decent Work and Economic Growth


Further Information
  • valid for whole curriculum period:

    Teaching Language : English

    Teaching Period:
    2022-2023 Spring IV
    2023-2024 Spring IV

    This course is mainly targeted for non-business students at Aalto.

    Kauppakorkeakoulun 1. vuoden opiskelija: huomaathan, että Principles of Economics -kurssia ei oteta huomioon kauppatietieden kandidaattiohjelman pääainevalinnassa.