As with other subjects in the Social Sciences, Economics also examines the laws of human interaction. Unique to this subject is its particular perspective, from which it develops its statements, for example the behaviour of individuals and groups is attributed to the fact that scarcity exists. Scarcity explains basically, why people organise labour and bargain with each other. Moreover, with this basic model, various phenomena are explained. Some examples:
- How goods and financial markets work?
- How political coordination processes work?
- What logic does globalisation follow?
Social rules and policies
In addition to the explanations of laws in Economics, recommendations are also given for the formulation of social rules and policies. For this a target is required, which is met through rules and policies. Based on the laws of human interaction, the following issues may be discussed:
- Under which conditions do markets work in order to achieve the best possible goals for society? And in which case is it not working?
- Where’s the ideal balance in the relationship between markets, government regulation and the public offer of goods?
Microeconomics and Macroeconomics I
In the economic part of the Assessment Year, students become familiar with the fundamental questions of this particular subject. Students learn about current relevant theories and how to apply these to specific social issues. The courses “Introduction to Economics, Microeconomics I“ in the Autumn Semester and “Introduction to Economics, Macroeconomics I“ in the Spring Semester complement each other in terms of methodology and content.