EXC XX23 Economics 2

EXC XX23 Economics 2

Course code: 
Course name in Norwegian: 
Economics 2
Product category: 
Bachelor - Common Courses
2024 Autumn
Active status: 
To be discontinued
Level of study: 
Discontinued term: 
2024 Autumn
Teaching language: 
Course type: 
One semester


Learning outcomes - Knowledge

After completing the course, the candidates will have acquired a broad knowledge of central themes, empirical patterns and trends, theories, problems, and methods within the field of economics, including:

  • How economic agents (individuals, households, and firms) make their choices when resources are scarce
  • Game theory, social interaction, and information economics
  • Banks and credit markets
  • Monetary policy and inflation targeting
  • Fiscal policy and the petroleum fund
  • International economics
  • Economic growth and inequality
  • Information and the networked economy
Learning outcomes - Skills

The candidates should be able to:

  • Define and explain key economic terms, variables, and concepts
  • Explain and illustrate the outcome of simple strategic situations
  • Explain the relationship between important macroeconomic variables
  • Explain and illustrate the trade-off faced by central banks
  • Explain the fiscal policy rule and the implication of the petroleum fund
  • Explain and illustrate the key mechanisms for international trade
  • Identify relevant economic mechanisms to understand economic growth and economic inequality
  • Explain and illustrate the trade-offs faced by policymakers when designing policies for innovations and the networked economy
General Competence

The candidate:

  • is able to reflect upon fairness, ethics, sustainability, and social responsibility
  • understands that economics is the study of how people and firms do economic decisions
  • displays the ability to critically assess and discuss economic information and theoretical concepts and insights (including their core assumptions and key implications)
  • understands that economic outcomes generally depend on a combination of resource endowments, individual preferences, technology, and cultural and institutional context
  • has the ability to independently extract information and produce and communicate simple economic analyses and assessments
Course content

Tentative list of topics (with references to the proposed curriculum in parentheses):

  1. Scarcity and choice: households, firms and equilibrium (CORE 3, 7 and 8 + matte)
  2. Social interaction (CORE 4)
  3. Property and power: Mutual gains and conflict (Core 5)
  4. The firm: Owners, managers, and employees (CORE 6)
  5. Banks, money and the credit market (Core 10)
  6. Rent-seeking, price-setting, and market dynamics (Core 11)
  7. Monetary policy and inflation targeting (S&R)
  8. Fiscal policy and the oil fund, two-sector model (?)
  9. The nation and the world economy (Core 18-Capstone)
  10. Economic growth and growth accounting (Weil?)
  11. Economic inequality (Core 19-Capstone)
  12. Innovation, information, and the networked economy (Core 21-Capstone)
Teaching and learning activities

The core activity will be regular lectures, but with considerable additional elements of:

  • Online material from CORE
  • Online material, BI-produced, tailored to the context of Norway and BI
  • Student assistant-led tutoring of problem sets
  • Student assistant-led workshops with information extraction and simple descriptive analysis using Excel
Software tools
No specified computer-based tools are required.
Additional information



Information about what is taught on campus and via digital formats will be presented with the lecture plan before the start of the course each semester.

Required prerequisite knowledge

No specific prerequisites required.

Exam category: 
Form of assessment: 
Written submission
• Ordinary school exam
• [Potentially with some share of elective elements/assignments that may be tailored to specific student groups (i.e., some level of differentiation across programs and contexts)]
Grading scale: 
Type of Assessment: 
Ordinary examination
Total weight: 
Sum workload: 

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.