The students acquire a basic understanding of microeconomic principles and theories for the purpose of analysing business economics and IT-related issues. This programme element focuses in particular on how market structures and economic mechanisms may influence the decision-making processes of consumers and producers. Finally, the students learn about modern behavioural economic models in addition to the traditional rational optimisation paradigms.

The student has gained development-based knowledge, understanding and an ability to reflect on applied theories and methods regarding
• key concepts of microeconomics, economic thinking and economic systems
• supply and demand, consumer and producer behaviour, price mechanisms, market interventions and market structures

The student masters skills related to the use of
• microeconomic theories and price formation models, including short-term and long-term supply and demand
• theories and methods to analyse market efficiency and the impact of market interventions on efficiency as well as producer and consumer surplus
• microeconomic models to be presented to partners and users

The student is able to handle complex and development-oriented issues in relation to
• financial decision-making based on an understanding and analysis of market efficiency, costs and profit

The student is able to identify their own learning requirements and develop their own knowledge, skills and competencies in relation to
• microeconomics