Introduction to EconomicsLaajuus (3 cr)

Objective

The student understands
- basic phenomena in an economy, and how different groups of economic actors (consumers, firms, the public sector) interact and influence each other
- determination of market price in the interaction of demand and supply
- principles of economic policy (fiscal policy, monetary policy)
- the importance of internationalization and globalization to Finland as an open economy and as an EU member state
- basics of economic sustainability and intergenerational accountability

The student is able
- to use the basic concepts of economics accurately
- to use the demand and supply framework
- to identify different competitive situations in a market
- to analyze a current economic situation and trends using indicators and evaluate their impact on a given industry
- to search for additional information on the subject matter from relevant sources

Content

Basic micro and macro economic phenomena and related terminology
Functioning of a market
Demand and supply analysis
Principles of economic policy (fiscal policy, monetary policy)
Opportunities and threats of internationalization and globalisation for the Finnish economy
Sustainability of economic development