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721352S Fundamentals of Economics, 6 ECTS cr 
Code 721352S  Validity 01.08.2019 -
Name Fundamentals of Economics  Abbreviation Fundamentals of 
Scope6 ECTS cr   
TypeAdvanced Studies Discipline6311 Economics 
TypeCourse   
  Grading1 - 5, pass, fail 
 
   
Unit Oulu Business School 

Teachers
Name
Matti Koivuranta 

Description
ECTS Credits 

6 credits

 
Language of instruction 

English

 
Timing 

Period 1 and 2 (year 1)

 
Learning outcomes 

Upon complementing the course, the student will be able to explain the main features of consumer and firm behavior. The student recognizes different market environments and their effect on optimal decision making.

The student is able to use simple macroeconomic models to understand economic issues such as growth and business cycles. The student is also able to analyze the effects of different economic policies with simple economic models.

 
Contents 

The basic concepts of consumer and firm theory, market equilibrium, market structures, economic growth, business cycles, monetary and fiscal policy

 
Mode of delivery 

Face-to-face teaching

 
Learning activities and teaching methods 

36 lectures and 18 hours of exercises, preparing for the lectures, exercises mid-term exams

 
Target group 

The first year Master’s students

 
Recommended or required reading 

Varian, H.: Intermediate Microeconomics, A Modern Approach, 8th (or older) edition

Williamson, Stephen D.D.: Macroeconomics, 4th ed., Pearson/Prentice Hall 2011

and other material delivered in class.

 
Assessment methods and criteria 

Written exam, exercises

 
Grading 

The course utilizes a numerical grading scale 1-5. In the numerical scale zero stands for a fail.

 
Person responsible 

Matti Koivuranta, Mikko Vaaramo

 
Working life cooperation 

The students will learn problem solving and analytical skills. Students deepen their understanding of their own profession.

 
Other information 

The number of students is limited.

 


Current and future instruction
Functions Name Type ECTS cr Teacher Schedule
Registration Fundamentals of Economics  Course  Janne Lehto  13.09.21 -09.12.21

Future examinations
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