Economics and Business

Academic year 2011-12

Date last modified

1-3-2012 1:26

Period

Period 2		Startdate:	31-Oct-11		Enddate:	23-Dec-11
Period 5		Startdate:	09-Apr-12		Enddate:	01-Jun-12

Code

SSC1002

ECTS credits

5.0

Organisational unit

University College Maastricht

Coordinator

J.P. Reiss

Description

The undergraduate course Economics and Business introduces economic principles and concepts. The following topics will be addressed in lectures and tutorials: supply and demand analysis, perfect competition, monopoly, game theory, oligopoly, auction markets, agency theory, and elements of macroeconomics.

Goals

At the end of the course students should be able to: • apply economic thinking and understand that changed incentives change individual behavior and the economic outcome. • use major economic concepts, e.g. choice in strategic situations, individual choice decision making under certainty and uncertainty. • understand the idealizations of standard market structures such as Monopoly, Oligopoly and Perfect Competition and their implications.

Instruction language

Prerequisites

Knowledge of basic mathematical concepts such as solving equations, reading and working with graphs, manipulating inequalities, and elementary calculus.

Recommended literature

• McDowell, M., Thom, R., Frank, R.H., & Bernanke, B. (2009). Principles of Economics, 2nd European edition. Maidenhead, UK: McGraw-Hill.

Teaching methods

PBL
PRESENTATION(S)
LECTURE(S)
ASSIGNMENT(S)
PAPER(S)

Assessment methods

FINAL PAPER
ATTENDANCE
PARTICIPATION
WRITTEN EXAM
ORAL EXAM
TAKE HOME EXAM

Key words