ELE 3729 Applied Microeconomics

ELE 3729 Applied Microeconomics

Course code: 
ELE 3729
Department: 
Economics
Credits: 
7.5
Course coordinator: 
Terje Synnestvedt
Product category: 
Bachelor
Portfolio: 
Bachelor - Electives
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

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.

Learning outcomes - Knowledge

After completing the course the students should have;

  • Developed broad knowledge of phenomena that in an unregulated economy give rise to inefficient resource use, including phenomena such as external effects, collective goods, imperfect competition, natural monopoly and inadequate information.
  • Learned what actions can be taken where such phenomena exist to achieve better resource allocation.
  • Acquired good knowledge of the various steps in a cost benefit analysis, as well as be able to discuss the advantages and disadvantages associated with specific privatization and competition exposure issues.
  • Acquired understanding of the benefits of international trade.
Learning outcomes - Skills

After completing the course, students should be able to:

  • Determine which micro-theoretical approach is most relevant to elucidate a specific problem.
  • Analyze a problem using both verbal, graphic and mathematical presentations.
  • Analyze a problem using both graphic and mathematical presentations.
General Competence

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.

Course content
  • Efficiency
  • Taxes and subsidies
  • Inequalities
  • 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
  • The financial crise
  • Privatization and competition
Teaching and learning activities

The course consists of 36 lecture hours + 6 hours of plenary review of exercises.

E-learning
In course delivery as online courses, lecturer will, in collaboration with the student administration, organize an appropriate course implementation, combining different learning activities and digital elements on the learning platform. Online students are also offered a study guide that will contribute to progression and overview. Total recommended time spent for completing the course also applies here.

Software tools
No specified computer-based tools are required.
Additional information

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.

Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

SØK 3520 Microeconomics or eqivalent

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
ELE37291
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
Duration:3 Hour(s)
Comment:
Exam code:ELE37291
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching36Hour(s)
Review of assignments in plenary6Hour(s)
Self study100Hour(s)
Group work / Assignments55Hour(s)
Examination3Hour(s)
Expected student effort:
Workload activity:Teaching
Duration:36 Hour(s)
Comment:
Workload activity:Review of assignments in plenary
Duration:6 Hour(s)
Comment:
Workload activity:Self study
Duration:100 Hour(s)
Comment:
Workload activity:Group work / Assignments
Duration:55 Hour(s)
Comment:
Workload activity:Examination
Duration:3 Hour(s)
Comment:
Sum workload: 
200

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.