SØK 1101 Microeconomics I

SØK 1101 Microeconomics I

Course code: 
SØK 1101
Course coordinator: 
Dag Morten Dalen
Course name in Norwegian: 
Mikroøkonomi I
Product category: 
Bachelor - Core Courses
2022 Spring
Active status: 
Level of study: 
Teaching language: 
Course type: 
One semester

This course will introduce the students to basic economics and principles of how the markets work. They will study how enterprise and individuals achieve economic results through their choices, and achieve an understanding of how the resources in the society are distributed in a market economy.

Learning outcomes - Knowledge
  • The students shall gain basic insight in the principles of microeconomic analysis and use in different markets.
  • Gain knowledge about how enterprise and individuals are facing economic choices in a market economy.
Learning outcomes - Skills
  • Describe how utility maximization can be used to divert demand of goods and service, save decisions and labour supply.
  • Describe how the enterprises desires of maximum earnings or profit can be used to divert offer of goods and services in a market economy.
  • Explain the difference between different type of markets as perfect competition, monopoly and oligopoly.
  • Apply game theory in the analysis of oligopolistic competition
  • Explain how prices and production volume is decided under such market conditions.
  • Explain what is meant by effectiveness in the sense of economic, and to take decisions whether a market economy is effective or not in this sense.
  • To use mathematical optimized functions with one or more variables of basic economic optimized problems.
General Competence
  • Through the course students will develop a critical attitude to scientific analysis, and stimulated to assess the economic objectives against other societal concerns.
Course content
  • Economic choices
  • Utility maximization
  • Profit maximization
  • Supply and demand
  • Perfect competition
  • Industry dynamics
  • Monopoly
  • Oligopoly
  • Game theory
  • Pareto- effectiveness
  • Optimization of functions
Teaching and learning activities

The course consists of 14 three-hour lectures.  

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

There has previously been coursework requirements in this course. Students who are to take the re-sit exam no longer have to comply with the coursework requirements.


Higher Education Entrance Qualification


Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.


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

Required prerequisite knowledge

No particular prerequisites.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Form of assessment:
Written submission
Exam code:
Grading scale:
Grading rules:
Internal and external examiner
Examination every semester
100Yes5 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Individual .
Exam category:Submission
Form of assessment:Written submission
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
Duration:5 Hour(s)
Exam code:SØK11011
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
Student workload
36 Hour(s)
Feedback activities and counselling
6 Hour(s)
Review of assignments in plenary
18 Hour(s)
Prepare for teaching
36 Hour(s)
Group work / Assignments
49 Hour(s)
Student's own work with learning resources
50 Hour(s)
5 Hour(s)
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.