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Economics and Economic Law

Module name (EN):
Name of module in study programme. It should be precise and clear.
Economics and Economic Law
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
Aviation Business (Basic), Bachelor, ASPO 01.10.2015
Module code: ABBG22
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
4V (4 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
Semester: 4
Mandatory course: yes
Language of instruction:
Written exam (120 minutes)

[updated 01.10.2020]
Exam recurrence:
The information regarding exam recurrence is found within the exam policy of the study programme (ASPO).
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

ABBG22 (P410-0018) Aviation Business (Basic), Bachelor, ASPO 01.10.2015 , semester 4, mandatory course
ABBG22 (P410-0018) Aviation Business (Basic), Bachelor, ASPO 01.10.2018 , semester 2, mandatory course
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 150 hours (equivalent to 5 ECTS credits).
There are therefore 105 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
Recommended as prerequisite for:
Module coordinator:
Prof. Dr. Uwe Leprich
Dozenten des Studiengangs

[updated 07.10.2019]
Learning outcomes:
After successfully completing this module, students will be familiar with the basic technical skills required to theoretically analyze market interaction processes and outcomes, governmental regulatory and process policy, as well as monetary policy phenomena. For this purpose, students will also become familair with the methodological skills for dealing with the mathematical and statistical-empirical methods of economics. In the field of microeconomics, students will have learned to model the microeconomic decision-making processes of households and enterprises. Microeconomic, economic statistical data will be used to analyze the behavior of individual households or individual companies. These analysis results then form the basis for the development of the general equilibria and the main theorems of welfare economics and market failure. In the field of macroeconomics, the existing data is used to model the behavior of all households or all firms in a given economy. Students will be able to use econometric models to model macroeconomic cycle relationships. In accordance with the different schools of economics, short and long-term developments on both the supply and demand side of process control will be examined. The required data is taken from primary statistics (e.g. national accounts, census, consumer research, income and wealth distribution, the employment statistics of the Federal Labour Office (BA), etc.). Students will also be familiar with the basics for assessing the money creating potential of central and commercial banks and the monetary policy measures taken by central banks to pursue macroeconomic objectives.
Economic Law:
After successfully completing this part of the module, students will understand the law as one of the basic conditions for entrepreneurial activity and the relevance of the regulations for business practice. They will be able to incorporate legal considerations into the operational practice of a company. They will be familiar with the functions and mechanisms of private commercial law (civil, business, commercial and corporate law), have an overview of the relevant provisions of German private commercial law and be able to apply them. They will be able to explain important aspects of contract law and explain different types of contracts. In labor law, they will be able to explain basic concepts of the employment relationship, including collective labor law. To this end, students will study central legal concepts and deal with legal texts independently. They will be able to develop solutions for specific commercial private law cases by classifying the problem, subsuming the facts under the characteristics of the relevant regulations and deriving the result from them. They will be able to evaluate and review the results based on general legal value judgements.

[updated 01.10.2020]
Module content:
- Basic economic concepts (goods, production factors, sectors, etc.)
- The utility theory, as well as the production and cost theory
- Product market pricing in a perfect market
- Market failure
- Circular flow model and derivation of the gross domestic product according to generation, use and distribution calculation
- Financial order in particular: Money creation and exchange rate regimes
- The possibilities and limits of process control through fiscal policy models according to the chosen models
- The possibilities and limits of monetary policy
Economic Law:
- Introduction to basic concepts of private law
- Legal business studies, concluding contracts, representation
- Fulfilling contracts, basic concepts of default, limitation of claims
- Important contract types (purchase contract, transport contract as an example contract for work and services)
- Basic concepts of commerical law (commercial register, merchant, powers of attorney of the HGB)
- Overview of collective labor law and basic concepts of individual law (justification of the employment contract,
  rights and obligations of the parties, protection against dismissal, transfer of business)

[updated 01.10.2020]
Teaching methods/Media:
General economics:
Presentations and exercises
Economic Law:
- Interactive lecture with integrated tutorial (solving legal case studies from practice)
- Visualization by means of transparencies and the blackboard
- Learning material from the internal eLearning management system including creating summaries using keywords.

[updated 01.10.2020]
Recommended or required reading:
General economics:
- Bofinger, P. (2020): Grundzüge der Volkswirtschaftslehre, Pearson Studium, München.
- Brümmerhoff, D., Grömling, M. (2015): Volkswirtschaftliche Gesamtrechnungen, 10. Auflage, Oldenbourg, München/Wien,
- Bartling, H., Luzius, F., Fichert, F. (2019): Grundzüge der Volkswirtschaftslehre: Einführung in die Wirtschaftstheorie und Wirtschaftspolitik, Vahlen, München.
Economic Law:
- Dütz, W. & Thüsing, G.,Arbeitsrecht. München: C. H. Beck, latest edition
- Führich, E., Wirtschaftsprivatrecht. München: Franz Vahlen, latest edition
- Führich, E. & Werdan, I., Wirtschaftsprivatrecht in Fällen und Fragen. München: Franz Vahlen, latest edition
- Müssig, P., Wirtschaftsrecht. Heideberg: C. F. Müller, latest edition

[updated 01.10.2020]
[Wed Jun  7 03:55:09 CEST 2023, CKEY=agdavuw, BKEY=avg2, CID=ABBG22, LANGUAGE=en, DATE=07.06.2023]