Course for international guest/part time students
- Faculty
- Faculty of Economics
- Organization
- GTK Department of Finance and Accounting
- Code
- GTI24AN107EN
- Title
- Economics I.
- Usual semester
- Autumn
- ECTS
- 3
- Language
- en
- Learning outcomes
- By the end of this course students will be familiar with the microeconomic foundations of the most important concepts of mainstream economics and their interconnections. Besides serving as theoretical background for business courses, as a way of thinking, economics also provides useful analytical tools for solving problems that may come up in the practice of business. We start the term with the principles and subject of economics, and methodologies used in this field. Then, we learn the essential models of microeconomics and their applications. We continue with the gains from trade and specialization, and study well-functioning markets. We look at welfare implications of these markets, along with the effects of government interventions on welfare. This course serves as the foundation for Economics II, a 6 credit course, which covers, among other things, different forms of market failures and the corresponding policy interventions, the theory of the firm, consumer choice, and macroeconomics. This course will be conducted 100% in English.
- Course content
- · Chapters from Principles (1-8) · Material from the lectures and seminars
- Assessment method
- Two equally weighted written midterm exams. Performance on these midterms determine your offered course grade and/or your eligibility to take the end-of-semester final exam. The general examination and assessment requirements for GTK undergraduate programs are available at the link below under "General Information" (ELTE GTK Study Office, Undergraduate Programs menu item): https://gtk.elte.hu/content/alapkepzes.t.14913?m=5049 Apart from true-false questions, test questions usually involve choosing from several possible answers, there may be tasks requiring the typing of a keyword or complete sentences, as well as calculation tasks (only calculators provided at the exam center or the calculator application running on the computers there may be used; personal calculators are not allowed). Questions containing diagrams play a prominent role, in which we ask about the diagram shown in the questions and its individual details (in some cases deleted from the diagram), so we recommend studying the diagrams separately.
- Bibliography
- N. Gregory Mankiw (2020) Principles of Economics. 9th Edition. Cengage Learning Inc. This book serves as the basis of introductory economics courses all around the world. This Principles book is 36 chapters long and covers both Microeconomics and Macroeconomics. There are four other versions of this book which cover subsets of these 36 chapters. Depending on which version and edition of the book you acquire, the chapter numbers will vary. A breakdown of the chapter number differences between each version of the book is posted on Moodle. If you will be taking Economics II in the spring, then the Principles version of the book is recommended.