ELE 3729 Applied Microeconomics

APPLIES TO ACADEMIC YEAR 2016/2017
Norwegian version

ELE 3729 Applied Microeconomics


Responsible for the course
Terje Synnestvedt

Department
Department of Economics

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction


    Learning outcome
    The main objective of this course is to give students insight into how key economic issues can be analyzed by microeconomic theory. Students will develop an understanding of why we have a public sector and how government intervention, including direct and indirect regulations, affects the economy. Students will gain insight into the purpose and elements of cost-benefit analyzes and develop an understanding of the complexities associated with privatization and competition issues.

    Aquired knowledge
    After completing the course, students should be able to explain phenomena in an unregulated economy that creates an efficient use of scarce resources, including phenomena such as externalities, public goods, imperfect competition, natural monopoly and imperfect information. The students should be able to propose measures, where such phenomena exist, providing a better resource allocation. Students should be able to explain the different steps of a cost-benefit analysis, and be able to discuss the advantages and disadvantages of specific privatization and competition issues.The students should also be able to explain what is ment by competitive advantages.

    Aquired skills
    Students should be able to determine what microeconomic approach that is most relevant to investigate a specific problem. Furthermore, students should be able to analyze a problem using both verbal, graphical and mathematical presentations.

    Reflection
    The students should develop a critical sense to statements related to the society's allocation of resources and be able to assess an economic issue from different individuals / groups' interests    .


    Prerequisites
    SØK 3520 Microeconomics or eqivalent

    Compulsory reading
    Books:
    Grønn, Erik. 2016. Anvendt mikroøkonomi. 3. utg. Cappelen akademisk. Utvalgte deler

    Recommended reading

    Course outline

    • Efficiency
    • Taxes and subsidies
    • Market failure (externalities, public goods, imperfect competition, natural monopoly and imperfect information).
    • Public sector, some facts
    • Government failure
    • Taxation
    • Cost-benefit analysis
    • Environmental Economics
    • Industrial organization
    • International trade
    • Privatization and competition

    Computer-based tools
    No specified computer-based tools are required

    Learning process and workload
    The course consists of 36 lecture hours + 6 hours of plenary review of exercises.

    Recommended use of hours for students:
    Activity
    Use of hours
    Lectures
    36
    Plenary review of exercises
    6
    Preliminary self-study in advance and after lecturer
    100
    Solving exercises
    55
    Examination
    3
    Total use of hours recommended
    200

    E-learning
    In course delivery as online courses or evening classes, will lecturer, in collaboration with the Academic Services Network and evening studies, organize an appropriate combination of digital and class room teaching. Online students are also offered a study guide, which will help progression and overview. Total recommended amount of time for completion of the course also applies here.



    Examination
    A three hours individual written exam concludes the course.
    Examination code(s)
    ELE 37291 - Written exam, counts for 100% to obtain final grade in ELE 3729, 7,5 credits.

    Examination support materials
    BI approved exam calculator. Examination support materials at written examinations are explained under examination information in the student portal @bi. Please note use of calculator and dictionary in the section on support materials (https://at.bi.no/EN/Pages/Exa_Hjelpemidler-til-eksamen.aspx).

    Re-sit examination
    For electives re-sit is normally offered at the next scheduled course. If an elective is discontinued or is not initiated in the semester it is offered, re-sit will be offered in the electives ordinary semester.

    Additional information

    Semesters

    Translations