2622.16 - Introduction to Economics

Course number
Introduction to Economics
Students are required to hold an upper secondary education diploma or equivalent qualification. English language competence is also required.
The purpose of the course is to give students of history, political science and social sciences insight into: • fundamentals of economics as a discipline, including key concepts and models • the role of economics in political practice, as well as the current and past role of the economy in social change
The course offers an introduction to some of the key concepts and models in economics. The major topics are supply and demand, the market mechanism, market intervention, productivity and economic growth, cyclical economic fluctuations and economic policy, international trade.
Learning and teaching approaches
The course is 60 hours. The teaching hours will be used for short lectures, answering questions and dialogues, as well as student presentations, including regular indicative tests with 15 to 20 minute oral presentations by students based on the detailed learning outcomes. It is recommended that the students organise regular group work as a part of the preparation to the class.
Learning outcomes
Students who successfully complete Introduction to economics as part of their BA/BS degree can demonstrate ability to explain, describe and/or assess the socioeconomic topics listed below: • The market economy as a driver of production, division of labour and international trade • The market mechanism with supply, demand and price determination • Reasons why the market mechanism sometimes does not function optimally and potential political solutions • Economic sectors and the economic cycle, measuring unemployment, inflation and inequality • The national economy, including balance of payment and foreign trade • Revenue generation, economic growth • Economic cycles and economic crises • Different types of short-term economic policies, underlying theories, instruments and purposes • International trade
Assessment method
Oral examination with preparation time. The oral examination will last 20 minutes. 40 minutes of preparation time will be allowed with access to all study aids, except the internet and mobile phones.
Marking scale
Jens Chr. Svabo Justinussen