Acquisition of a basic understanding of the meaning of economic policy as well as on how to analyze policy issues economically.Description of basic terms of (international) economic policy in economic categories.Preparation for issues discussed in more advanced courses, based on the introduced economic concepts.

The lecture takes place on a weekly basis.The contents discussed may go beyond the material chapters listed below, additional material may be provided and may possibly deviate from the book.There is, of course, also the possibility that not all chapters indicated will be discussed and would, therefore, not be relevant for the exam.Also, of course, more chapters than indicated at the outset may be discussed and will in this case be relevant for the exam.Please refer to the moodle course and the introductory slides for more detailed information!

8. Supply and demand: Price-taking and competitive markets9. The labor market: Wages, profits, and unemployment10. Banks, money, and the credit markets11. Rent-seeking, price-setting, and market dynamics12. Markets, efficiency, and public policy13. Economic fluctuations and unemployment14. Unemployment and fiscal policy15. Inflation, unemployment, and monetary policy16. Technological progress, employment, and living standards in the long run17. The Great Depression, golden age, and global financial crisis18. The nation and the world economy19. Economic inequality20. Economics of the environment21. Innovation, information, and the networked economy22. Economics, politics, and public policy

VO Einführung in die Volkswirtschaftslehre / Introduction to EconomicsYou should take this lecture PRIOR TOVC Mikroökonomik / VC MicroeconomicsVC Makroökonomik / VC Macroeconomics

The lecture is based on the open-access e-book: The Economy: Economics for a changing world -- available from: www.core-econ.orgThe course textbook is freely available for download as an e-book.The lecture’s slides can be freely downloaded as well.The slides and further teaching material will be made available and if necessary corrected as the lecture progresses.

The Multiple Choice Exam consists of 15 blocks with 4 statements each.Each one of the statements can be correct or false and will have to be assigned the value "true" or "false".There will be 4 exam dates.

Only the topics and the teaching material, which were covered in the lecture itself, are relevant for the exam.The material covered may transcend or deviate from the textbook.Additional material that is indicated or used during the lectures is as exam relevant as are the discussions and examples used during class and all core-econ quizzes linked on the course Moodle page.

The Multiple Choice Exam consists of 15 blocks with 4 statements each.  There are no negative points; every answer is counted separately. For each correct answer, you will get 1 point. This means you can earn a maximum of 60 points (15x4). In order to pass the exam you need 42 points.