Understanding and principles of
- economic relations and for economics in general,
- scarce resources,
- the functioning and failure of markets,
- supply and demand on goods and factor markets,
- aims and constraints of private households and firms,
- national accounting (GDP),
- economy-wide problems of unemployment and inflation,
- the business cycle,
- economic policies.

1. Principles of economics
2. Economic systems and basic institutions of the market economy
3. Microeconomic units: private households
4. Microeconomic units: firms
5. Demand, supply, general equilibrium, market forms and failure
6. Principles of macro economics
7. National accounts and economic growth
8. Unemployment
9. Inflation
10. Economy-wide equilibrium
11. International trade
12. Fiscal and monetary policies

Multiple choice exam

None.