The Foundations of the Market Economy

<p>The course provides an introduction to economics. You get to know basic economic problems and models and learn to think like an economist about managing limited resources. The starting point will be the market model that shows how price and quantity are determined under specific conditions. During the course, you will gain knowledge about how individuals and companies make decisions based on their budget, perceived benefit, and production size. You gain an understanding of concepts such as opportunity cost, marginal product, sunk cost, price sensitivity, GDP, and inflation. You will gain an increased understanding of how the goods market and the labour market work, as well as how the economy in a country looks.</p>