ECON-C9000 - Principles of Economics, Lecture, 25.2.2025-8.4.2025

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

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: 25.02.2025 - 08.04.2025

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

CONTENT, ASSESSMENT AND WORKLOAD

Content

  • 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

Workload

  • valid for whole curriculum period:

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

DETAILS

Study Material

  • valid for whole curriculum period:

    Lectures, textbook: The Economy https://www.core-econ.org/

Substitutes for Courses
Prerequisites
SDG: Sustainable Development Goals

    1 No Poverty

    2 Zero Hunger

    8 Decent Work and Economic Growth

FURTHER INFORMATION

Further Information

  • valid for whole curriculum period:

    Teaching Language: English

    Teaching Period: 2024-2025 Spring IV
    2025-2026 Spring IV

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

Aalto University Code of Academic Integrity and Handling Violations Thereof