KTTP2110 Basics of Economics (6 cr)
Basic concepts and elements of both microeconomic and macroeconomic theories with discussion of their implications for economic policy-making. Basic modeling principles, national income accounting and related statistics are also included in the course.
*comprehend basic economic concepts (f. e. markets, prices, demand, supply, GNP, money, inflation) and their behavior
*apply the concepts and behavior of demand and supply in different market situations, both from a viewpoint of consumers and companies
*evaluate different alternatives and solutions to economic problems
*analyze main factors affecting economic development
Timing: 1st year
- Begg, D., Vernasca, G., Fischer, S. & Dornbusch, R. 2020. Economics. McGraw-Hill Education. 12. edition; ISBN-13 9781526847393