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04BUS602/6 BASICS OF ECONOMICS 3 ECTS

Learning objectives

The student

  • understands that “everything depends on everything “  in the economy
  • is familiar with the basic concepts of consumer and producer theory
  • understands how the market mechanism functions
  • understands the basic nature of economic fluctuations
  • knows the basic reasons and consequences of unemployment and inflation
  • understands the basic idea of economic policy.

Content

Basic concepts (of micro and macro economics), different competition models, circulation model, unemployment and inflation, economic fluctuations in Finland, basic ideas of fiscal – monetary policy.

Assessment and evaluation

Lectures, learning diary, exam.
Evaluation: 1-5.

Materials

Sloman, J. 2004, Essentials of Economics.Pearson Education.England.

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