The course is subdivided into four thematic blocks. The first block is used to revise the mathematical tools. The second block deals with the basics of supply and demand. With regard to supply, the focus is on production costs and profit maximization. Demand is related to consumer behavior and utility maximization. The concept of market equilibrium is clarified under the assumption of perfect competition. The second block aims to broaden the students’ understanding of the topic by introducing markets with imperfect competition (monopoly, monopsony, and pricing with market power). The third and last block is an introduction to game theory, with a discussion of several key economic applications such as oligopoly, public goods, and auctions.

Applied Microeconomics is a lecture with interactive elements (VUE), therefore attendance is necessary. Three lectures can be missed without excuse. Further absenteeism will lead to deregistration.

If you are not subject to travel restrictions, attendance in class is mandatory.

Teaching material includes slides and exercises.

Slides, exercises without solutions, and past exams with solutions are available online.

Solutions to exercises will be provided during the class but unavailable online.

In this course, a total of 100 points can be achieved, with 70 points allocated to the final exam. The written final exams take place during the comprehensive exam week of the respective semester section - no additional exam registration is required! Please refer to the information on the exam week for the exact exam dates:

https://www.wu.ac.at/en/students/my-program/bachelors-student-guide/courses-and-exams/examination-week/

Retaking the exam is possible in the next comprehensive exam week if you either deregistered/excused yourself before the exam date via email to mikro.pruefung@wu.ac.at for the first attempt or if you were unable to pass the course after the initial attempt (scoring less than 35 points in the final exam and/or less than 60 points in the course; additional criterion: you must have achieved at least 10% of the points in the final exam). The second exam attempt nullifies the first, and only the result of the second attempt will be considered for the overall assessment.

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.

Please log in with your WU account to use all functionalities of read!t. For off-campus access to our licensed electronic resources, remember to activate your VPN connection connection. In case you encounter any technical problems or have questions regarding read!t, please feel free to contact the library at readinglists@wu.ac.at.