Economics - BMEGT30A300

By introducing into the basic notions, principles, and context of economic base knowledge, as well as into the logics of economic model building, the course enables students to decrypt everyday life economic phenomena and to understand social phenomena in a broad sense.

1. The students are aware of
2. The process of scientific theory building, basic economic notions and the logics of the main economic theories
3. The mainstream economic theory’s (general equilibrium theory) analysis method (comparative statics, equilibrium, alternative cost)
4. The method of analysing economic welfare
5. The pricing strategies for some market structures
6. Some specific microeconomic issues of market failures (adverse selection, signalling, moral hazard, pollu-tion, public goods)
7. The logics of national accounting and data available from national accounting
8. The three basic properties of monetary economies underlined by Keynes (multiplier effect, paradox of thrift, involuntary unemployment)
9. The growth logic of market economies
10. The rules that govern the modern banking system and its properties

1. The students are able to
2. Apply mainstream theory to assess welfare variations, tax impacts and other pricing issues
3. Carry out profitability calculus (present value, cost-benefit analysis) including different loan constructions (ex. CHF loan),
4. Identify fundamental market structures, determine indexes to describe market structures and firm’s posi-tion,
5. Understand macroeconomic changes, especially monetary and fiscal policy measures
6. Extend economic knowledge alone
7. Understand economic issues and use economic literature

1. Students
2. Collaborate with their instructors and fellow students during the learning process,
3. Continuously gain knowledge and information,
4. Are open to learn and adapt the methodology of information technology tools
5. Are aiming at knowing and using the tools that helps economic problem solving
6. Are aiming at precise and correct problem solution.

1. Students
2. independently formulate and solve micro- and macroeconomic problems,
3. are open for reliable critical remarks
4. collaborates with the experts of other fields.

Lectures, computational exercises and communication in written and oral form. use of IT technics, optional: indi-vidual and in group problem solving.

• Mankiw, N. G.: A közgazdaságtan alapjai. Osiris, 2011.
• Margitay – Daruka – Petró: Mikroökonómia (Jegyzet a Mikro- és makroökonómia tárgyhoz),
• Pindyck, R. S.– Rubinfeld, D. L.: Microeconomics. Eighth Edition (Global Edition). Pearson, 2015.
• Gilányi, Zs.(2020), Piacgazda(g)ság: oikonomia vagy khrematistiké?, Akadémia kiadó.
• L-Randall Wray (2015), Modern Money Theory, Palgrave.
• Hal. R Varian (2014), Intermediate Microeconomics with Calculus, WW Norton and Co. New York
• Egyéb oktatási segédanyagok (gyakorló feladatok, mintazh stb.) a Moodle rendszerben, a tárgy neve és kódja alatt érhetőek el. Other learning material (e.g.: exercises for practice, sample tests) is available on the Moodle page under the subject code.

The assessment of learning outcomes set out in point 2.2 consists of four parts: an interim written performance assessment (summary study performance assessment) and, during the semester, partial performance checking and evaluation for signature, and presentation and summary performance assessment (written examination) during the examination period, the latter of which can be replaced by two non-mandatory summary performance evaluations during the year (thus interim performance can be obtained on the basis of a mark).

1. Summary academic performance evaluation: a complex, written method of assessing the knowledge, ability, attitude, autonomy and responsibility type competence elements of the subject, in the form of a midterm thesis; which includes, on the one hand, test questions, which examine lexical knowledge, the interpretation of certain concepts and the recognition of connections between them, and on the other hand, computational tasks, which examine problem recognition and solving ability. The part of the curriculum on which the assessment is based is determined by the course director in agreement with the lecturers of the course, the available working time is 45 minutes. 2. Partial performance monitoring and evaluation: a complex, written way of checking and evaluating the knowledge, ability, attitude, autonomy and responsibility type competence elements of the course in order to facilitate continuous preparation and self-monitoring. During 8 weeks during the semester, they can earn 2-2% if they answer 80% of 10 questions on the Moodle interface, of which 10 percentage points count towards the maximum number of points taken into account when forming the year-end exam ticket. 3. Class group presentation: Students active during classes can prepare and present presentations in groups of 2-3 people on predefined topics related to the lesson, which can earn 20 percentage points in the maximum number of points taken into account when designing the year-end exam ticket. 4. Written performance assessment (written examination): a complex, written method of assessment of knowledge, ability, attitude, autonomy and responsibility type competence elements of the subject, in the form of an examination paper; which includes, on the one hand, test questions, which examine lexical knowledge, the interpretation of certain concepts and the recognition of connections between them, and on the other hand, computational tasks, which examine problem recognition and solving ability. The part of the curriculum on which the assessment is based is determined by the course director in agreement with the lecturers of the course, the available working time is 90 minutes. 5. Counting of mid-year results: Based on the sum of successful mid-year (compulsory and non-compulsory) summary academic performance assessments, a grade offered in the subject can be obtained, which triggers participation in the written examination, but 80 percentage points can be obtained with it in the same way as with written performance reviews.

• 1. learning unit assessment: 40
• 2. learning unit assessment: 40
• Partial performance monitoring and evaluation: 10
• Presentation: 10
• Total: 100

• written exam: 100

The condition for obtaining a signature is that the student must have achieved at least 40% of the score at the mandatory mid-year summary study assessment according to point 3.2 and 50% in the partial performance check and evaluation (i.e. complete 4 out of 8 weekly assignments).

1) The obligatory mid-term test can be retaken or made up once without any fee during the semester. In case of make up, the make-up grade counts. 2) If the student fails including the retake specified in point 1), then – for specific fee fixed in the university reg-ulations – she or he can have a second retake during the retake period. 3) The non-obligatory during the semester learning unit assessment cannot be retaken or made up, but the student is not obligated to accept the offered grade. In that case, she/he presents at the exam if beholds the signature; the mid-term assessment is not any more taken into consideration in the grading. 4) The exam can be retaken and made up according to the general rules of the university. In case of make up, the grade of the make-up test is the grade.

Consulted with the Faculty Student Representative Committee, approved by the Vice Dean for Education, valid from: 06.05.2024.

Subject includes the topics detailed in the course syllabus to ensure learning outcomes listed under 2.2. can be achieved. Timing of the topics may be affected by calendar or other circumstances in each semester.