Fundamentals of Business Administration & Economics I

Bachelor

Business Administration Section: -------------------------------- The students: • are familiar with the various subfields of business economics. • understand the structure of a business and typical operational processes and are acquainted with the fundamental constitutive factors of a business. • recognize the interconnections in terms of the diverse relationships between business economic functions. • can clearly distinguish between central business economic concepts. • are familiar with the most important constitutional and functional business decisions. • understand the basics and tools of strategic management. • know and understand the interconnections of business economics at various decision-making and action levels. • are capable of analyzing current market, environmental, and surrounding conditions in the area of small and medium-sized enterprises. • are aware of the essential principles and discussions of business and economic ethics, especially in the area of corporate governance debate. • know the process for implementing a business strategy using selected business economic tools. Economics Section: ------------------ The students are capable of: • naming the essential components of a market model and discussing market equilibrium as an interaction of supply and demand. • identifying the determinants of consumer demand and explaining the reaction to external factors such as changes in income. • explaining both the potential and limitations of market models based on real markets such as the housing or labor market, and enhancing abstract models with increased reality relevance. • understanding production decisions in companies and interpreting the influence of market forms on pricing. • examining and critically evaluating current developments based on models. • naming the essential components and institutions of an economy and explaining how they function. • identifying macroeconomic indicators such as Gross Domestic Product or Consumer Price Index and explaining them in content. • independently researching indicators for economic growth and inflation and presenting current developments.

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Business Administration Section: -------------------------------- Part A: Overview and Analysis of Interconnections among Key Business Economics Areas • Characteristics of business enterprises and the scope of business economics. • Decision theory in business economics. • Operational functional areas. • Basics of management and ethics. Part B: Fundamentals of Business Economics • Constitutive business decisions such as legal forms, location decisions, types of business mergers/acquisitions, and choice of business field. • Functional business decisions: materials management, production management, marketing. • Fundamentals of business value creation processes and functions (value creation architecture and structure). • Basics of market-, process-, and strategy-oriented management. Part C: Strategic Management • Definition and distinction between strategy vs. business model; Mintzberg's 5 Ps. • Strategic management process and relevant analyses (vision & mission; environmental analysis, external and internal company analysis, resource analysis, and Porter's value chain, competitor analysis, SWOT, etc.). • Strategic vs. operational goals. • Generic strategies by Porter (focus on differentiation, differentiation, cost focus, cost leadership) and by Treacy & Wiersema (product leadership, operational excellence, customer intimacy). Economics Section: ------------------ Part A: Core Topics • Economic thinking and marginal analysis. • Efficient allocation of scarce resources. • Market model and market equilibrium. • Macroeconomic variables (GDP, inflation, and unemployment) and their interrelations. Part B: Selected Economic Issues • Elasticity and welfare. • Cost functions and optimal company production. • Pricing and market structures. • Short-term economic fluctuations: business cycles. • Money, the ECB, and inflation. • Long-term economic growth. • International relations and trade.

• Breyer, F. (2020). Mikroökonomik: Eine Einführung. Berlin-Heidelberg: Springer Verlag. • Clement, R., Terlau, W., Kiy, M., & Gehringer, A. (2023). Angewandte Makroökonomie: Makroökonomie, Wirtschaftspolitik und nachhaltige Entwicklung. München: Verlag Franz Vahlen. • Dillerup, R., & Stoi, R. (2022). Unternehmensführung: Erfolgreich durch modernes Management & Leadership. München: Verlag Franz Vahlen. • Edling, H. (2023). Volkswirtschaftslehre - Schnell erfasst. Berlin-Heidelberg: Springer Verlag. • Egger, A., Egger, W., & Schauer, R. (2016). Einführung in die Allgemeine Betriebswirtschaftslehre. Wien: Linde. • Forner, A. (2022). Volkswirtschaftslehre: Eine praxisorienterte Einführung. Wiesbaden: Springer Verlag. • Kolmar, M. (2021). Grundlagen der Mikroökonomik: Ein integrativer Ansatz. Berlin-Heidelberg: Springer Verlag. • Vahs, D., & Schäfer-Kunz, J. (2021). Einführung in die Betriebswirtschaftslehre. Stuttgart: Schäffer-Poeschel.

• Midterm exam • Case study analysis • Quizzes • Final exam

German

6

40

5.0

40% of the course is covered through eLearning, which utilizes a combination of online phases (inductive method for independent knowledge acquisition and practicing tasks) and face-to-face phases (deductive method, where support is provided in the learning process and knowledge is imparted through lectures).

1

STGL

1

GWI1

integrated lecture

Compulsory

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