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Please use the filters below to select the term (spring or fall) as well as the respective program (BSc, MSc, MBA, Exchange, Doctoral) of your choice for an overview of all modules offered at WHU. The courses are listed under the modules. Please click on a module to see which courses are part of it. If you would like to find out more about a certain course, click on the name of the course to see detail information. The location of the lecture will be revealed after your course registration on myWHUstudies.

Spring term counts from January - August, fall term counts from September - December.

Important for Exchange Students: As the Full-Time and Part-Time MBA Programs utilize a modular course structure, the dates on which students begin and end the exchange are flexible. Please find here a chronological overview of the preliminary course offering for Fall and Spring.

Fall 2022  ›  Bachelor of Science in International Business Administration  ›  1st Semester  ›  Foundations of Economics

Principles of the Market Economy, Group E and BBP

Course Code:
Prof. Dr. Michael Frenkel
Course Type:
BSc Course
Week Hours:
Fall 2022
(Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.)
1. Foundation of economic analysis
2. Supply, demand, and equilibrium in the goods market
3. Demand and supply shocks, price mechanism, and government intervention in goods and factor markets
4. Imperfect competition
5. Market Inefficiencies
6.Basic concepts of the Macroeconomy
Tuesday, 06/09/2022
11:30 AM till 03:15 PM
Thursday, 08/09/2022
11:30 AM till 03:15 PM
Wednesday, 14/09/2022
08:00 AM till 11:15 AM
Wednesday, 21/09/2022
08:00 AM till 11:15 AM
Tuesday, 27/09/2022
08:00 AM till 11:15 AM
Wednesday, 12/10/2022
08:00 AM till 11:15 AM
The course explains the fundamentals of economic processes in a market economy. The course first looks at basic techniques in economic analyses and then proceeds to the explanation of the determining factors of demand and supply in the goods market. Subsequently, the effects of demand and supply shocks are examined and the effects of a non-competitive market on the market equilibrium are investigated. The course also discusses which government activities can be justified within the framework of a market economy. Here, the focus is on competition policies, tax policies, social policies and general economic stabilization policies.
Mankiw, N. Gregory and Mark P. Taylor: Economics, 5 th edition, Cengage Learning 2020.

Frenkel, M. and Stefan, H. (2021). „Private, öffentliche und andere Güter“, Das Wirtschaftsstudium, Vol. 1, pp. 104-109.

Lecture and exercises