What is the practical use of microeconomics

Module designationMicroeconomic theoryModule abbreviationwe120Credit points6.0 CPWorkload180 h Equipment directoryDepartment for Business Economics (VWL)Usability of the module
  • Specialized bachelor's degree in business administration with a legal focus (bachelor's degree)> advanced area economics
  • Subject Bachelor in Sustainability Economics (Bachelor)> Basic / basic curriculum
  • Specialized Bachelor in Economics (Bachelor)> advanced modules
  • Two-subject Bachelor in Economics (Bachelor)> advanced modules
Responsible persons
Lecturers who take part in the module (authorized examiners)
Helm, Carsten (module responsibility)
Rahmeier Seyffarth, Anelise (module consulting)
Rüb, Daniel (module consulting)
Participation requirementsCompetency goals
The students • understand the importance of microeconomics as a method for analyzing economic processes and understanding the behavior of typical actors, • master the fundamentals of microeconomics and can put microeconomic questions in the context of scientific discussion • can use microeconomic methods in the analysis of economic problems independently apply them and question them critically • can exchange ideas in a team on microeconomic issues and problems, work out proposed solutions together and represent them in the scientific debate.
Module content
• Definition and description of microeconomics • Theory of the household (budget, preferences, benefits, optimal consumption plan, demand) • Theory of the company (technology, costs, profit maximization, supply) • Markets and market forms (complete competition, monopoly, oligopoly) • Market failure ( external effects, public goods, asymmetric information) • Game theory and experiments
Recommended reading
Varian, H. (2016), Fundamentals of Microeconomics, Oldenbourg Verlag, Munich. Pindyck, R. S. and D. L. Rubinfeld (2013): Mikroökonomie, Pearson Verlag. Stocker, F. (2013): Having fun with micro: Practical microeconomics for (ver) doubting students, Oldenbourg Verlag, Münschen.
classroom language German Duration in semesters1 semesterFrequency of supply moduleyearlyCapacity moduleunlimited Hints
The module consists of a lecture and a tutorial. The content of the module is presented in the lecture. In the tutorial, this content is discussed using exercises and practiced using sample tasks.
Module levelModule type / type of moduleCompulsory or compulsory elective depending on the courseTeaching / learning methodPrevious knowledgeIntroduction to Economics (wir041), Mathematics for Economists (mat990)