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IK Markets and Economic Decision Making

The IK “Introductory Microeconomics“ is an accompanying course to the KS of the same name. Both classes teach basic microeconomics, with the decisions of both consumers and producers and their interaction in the market. The aim of the course is to deepen the understanding of the topics treated in the KS. Students thus have to attend the IK in parallel to (or shortly after) the KS, as the IK builds on concepts taught in the KS.

The IK (3 ECTS/2 hours) will be held weekly over the entire semester. Information on the schedule (including the date of the exam) as well as course material will be provided online at KUSSS. We will use the textbook of Robert Pindyck and Daniel Rubinfeld (2005 of later versions) "Microeconomics" (Chapters 1 – 12).

Active participation in class is mandatory. Students are expected to prepare at least 6 (out of 11) problem sets. Students have to present and discuss these problems in class.

The IK ends with a written examination. Students have to obtain at least 50% of all points at the exam and have to prepare at least 55% of the questions of the problem set to pass this course. The grade is the weighted average of the results on the exam (70%), the number of problems solved (25%) and participation in class (5%).

Based on the current situation, the course will be taught in the classroom. According to the Covid guidelines, the seminar room (MT 127) has a capacity for 49 studients (regular capacity: 98 students). Be aware that we might have to switch to hybrid or online teaching during the semester. The number of problems sets to be solved to pass the class might be reduced in this case.