623 Basic Economics

623 Basic Economics

  • Study programme and level: Professional degree programme Administration 1st Cycle
  • 1st year
  • 7 ECTS
  • Course type: Core
  • Lectures: 45
  • Tutorial: 30
  • Other forms of study: 30
  • Individual work: 105
  • Lecturer: Aleksander Aristovnik, PhD


1. Objectives and competences

The aims:

  • student solves basic economic problems and find various ways to resolve them
  • student finds the key elements of market structure and regulation in developed countries and in Slovenia
  • student analyzes the basic economic problems of national economic point of view
  • student analyzes the basic elements in the economic process, manufacturing, distribution, exchange and consumption
  • student finds similarities and differences between the functioning of the national economy of Slovenia and foreign national economies, focusing on the European Union


  • student will understand the economic problems of the society and of the individual
  • student will understand the functioning of the market economy, the theory of production, role of the state, the distribution of generated product and economic problems of modern economies
  • student will be able to combine and transfer the knowledge into practice
  • student will be able to explain and compare the developments in the field of economic and business studies
  • student is able to apply and transfer the knowledge of the economics to other people and is able to plan and implement his/her own in-depth research

2. Content

  • Background of Economic Science
  • The Economic Problem of Society and Individuals
  • The Market Mechanism (Supply and Demand)
  • Monopoly and Oligopoly
  • Models of Market Structure
  • Entrepreneurship
  • Macroeconomics
  • Gross Domestic Product
  • Employment and Inflation
  • International Trade Policy
  • Exchange rate policy and balance of payments
  • Monetary policy and Fiscal policy

3. Readings

  • SETNIKAR-CANKAR, Stanka, HROVATIN, Nevenka (2007). Temelji ekonomije. FU, Ljubljana, 304 str.
  • ARISTOVNIK, Aleksander et al. (2007). Temelji ekonomije – vprašanja in primeri z rešitvami. I. del. FU, Ljubljana, 175 str.
  • ARISTOVNIK, Aleksander et al. (2012). Temelji ekonomije – vprašanja in primeri z rešitvami. II. del. FU, Ljubljana, 88 str.
  • SAMUELSON, P.A., NORDHAUS W.D. (2009). Economics. 19. izdaja. McGraw-Hill, New York, 150 str. (izbrana poglavja)

4. Intended learning outcomes

The student is able to understand basic economic problems/laws and link them with other subjects and public sector domain. He/she is able to address some economic issues or problems, is able to professionally process them and is capable of transferring findings to others.

5. Learning and teaching methods

  • lecture
  • practical work
  • e-learning

6. Assessment

  • written and/or oral exam (can be passed with two colloquium) (100%)