According to the University's policy, the course will be held in presence mode. We will keep you updated concerning the course mode on a rolling basis.

This course introduces some key approaches that economists use to analyse and understand the behavior of consumers, firms and governments, both from a theoretical and an applied perspective.

This course is subdivided into two thematic blocks.

The first block focuses on consumer theory and production theory, chapters 1-8 in Pindyck and Rubinfeld, 9th global ed.

The second bloc focuses on the concept of market equilibrium under the assumption of perfect competition, chapter 9 in Pindyck and Rubinfeld, 9th global ed. and on issues of imperfect competition, chapters 10-12 in Pindyck and Rubinfeld, 9th global ed.

Please, see detailed course description below.

Presence is mandatory on specified dates. A maximum of 2 times absenteeism is tolerated without prior notice. Further absenteeism will lead to deregistration.

(a) Homework assignments: 10% [Note that there will be deductions of points for failing to present an uploaded homework.]

(b) Class-room assignments: 10% [Note that these assignments will be scheduled for 10 minutes at the beginning of each session.]

(c) Final exam: 80%

A minimum of 30% must be achieved in each category.

The final exam may be held as a written exam (presence or distance) and / or an oral exam.

Overall performance must be >=60% in order to pass.

Please note, that hints and advice for the final exam will be provided throughout the lectures and that no specific hints will be given in the Q&A session prior to the final exam.

Please, also note that solution to problems will be provided during the lectures.

Grading scheme:

For those who fail in the final exam, there will be a retake offered (tba).

If you have a valid registration for the lecture, but will not participate, please deregister during the registration period of LPIS. Your place will be available for other students.

During the registration period, free places are filled according to the “first-come, first-served” principle. After the end of the registration period, the number of places is increased and students on the waiting list will be registered for the lecture based on their progress in their studies.

Attendance in the first session is necessary, any absence will lead to deregistration! Any remaining places in the classes will be allocated to students attending the first session according to the waiting list. No places will be allocated by email or by phone.

bellak@wu.ac.at

phone: 00431313364505

Please note that the use of cellphones is not permitted during this course, unless mandated by the instructor.

Concerning exams: Please note that you may request a post-exam review within one week after the exam. After this period, the marks will be entered into LPIS and will be final.