MLI31A002 - Principles of Economics, Lecture, 8.1.2024-26.1.2024

Guest access
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.

LEARNING OUTCOMES

Learning outcomes for this course, upon successful completion, include the ability to: 1) know and understand the key principles of economics underlying the market and the economy, 2) calculate real economic variables, such as real GDP, inflation and unemployment rates and be familiar with important international economic databases, 3) know and understand how fundamental economic theory applies to international business, 4) understand how aggregate variables such as inflation and unemployment behave and how the government and Central Banks can influence their behavior, 5) understand the impact of economic fluctuations at a domestic and international level, and 6) use economic principles to analyze the problems that arise from the usage of finite resources, and explore efficient and sustainable solutions consistent with long-run goals.

Credits: 6

Schedule: 08.01.2024 - 26.01.2024

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Schwartz

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

CONTENT, ASSESSMENT AND WORKLOAD

Content

  • valid for whole curriculum period:

    The purpose of this course is to introduce students to the principles of economics. It distinguishes between microeconomics and macroeconomics with a stronger emphasis on the latter. The microeconomics section addresses the topics of scarcity, opportunity cost, demand and supply, elasticity, cost theory and market structures. The macroeconomics section addresses topics such as trends in real economic variables, production and growth, theory of income determination, the consumption function, fiscal policy and monetary policy. The course will address issues of sustainability presuming that resources are​ finite and should be used with a view to long-term priorities and consequences.  

DETAILS

Substitutes for Courses
Prerequisites
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth

    9 Industry, Innovation and Infrastructure

    16 Peace and Justice Strong Institutions

FURTHER INFORMATION

Further Information

  • valid for whole curriculum period:

    Teaching Language : English

    Teaching Period : 2022-2023 Module 6
    2022-2023 Module 7
    2023-2024 Module 6
    2023-2024 Module 7

    Enrollment :

    The course is targeted only for the Mikkeli Campus students.

Rules of Conduct - Students´ Rights and Responsibilities (in force from 1 August 2020)

Aalto University Code of Academic Integrity and Handling Violations Thereof