Chair in Economic Policy

Basic Principles of Economic Policy

  • Type: Lecture / Exercise
  • Target group: B. Sc.
  • Semester: SS
  • Lecturer:

    Prof. Dr. Ingrid Ott

  • ECTS: 4,5
Prerequisites

Basic micro- and macroeconomic knowledge is required, especially as taught in the courses Economics I [2610012] and Economics II [2600014].

Description

Theory of general economic policy and discussion of current economic policy issues:

  • Goals of economic policy,
  • Instruments and institutions of economic policy,
  • Triad of regional, national and European economic policies,
  • special fields of economic policy, in particular growth, employment, provision of public infrastructure and climate policy.
Bibliography
  • Klump, Rainer (2013): Wirtschaftspolitik. Pearson Studium
  • Baldwin, Richard und Charles Wyplosz (2015): The Economics of European Integration, McGraw-Hill Education, London
  • Lecture slides
  • Exercises
Content of teaching
  • Market interventions: microeconomic and macroeconomic perspective
  • Institutional economic aspects
  • Economic policy and welfare economics
  • Economic policy makers: Political-economic aspects
Workload
  • Total effort at 4.5 LP: approx. 135 hours
  • Presence time: approx. 30 hours
  • Self-study: approx. 105 hours
Aim

Students shall be given the ability to

  • apply basic concepts of micro- and macroeconomic theories to economic policy issues
  • develop arguments on how state intervention in the market can be legitimized from a welfare economic perspective
  • derive theory-based policy recommendations