SØK 1220 Microeconomics - Economic Theory
SØK 1220 Microeconomics - Economic Theory
The course has three main objectives. Firstly, students are given an introduction to formal microeconomic analysis. Secondly, the course delves deeper into the analysis of microeconomic issues than what students are familiar with from the introductory course in economics. This particularly applies to the analysis of markets and efficiency. Thirdly, a selection of important applications of microeconomic theory is discussed, such as capital markets, labor markets, economic organization, and the effects of economic policy.
During the course, students will:
- Learn to master the fundamental concepts and methods within modern microeconomics.
- Learn to apply the microeconomic modeling framework to various applied issues drawn from the Norwegian economy.
On completing the course, students should be able to:
- Apply the basic models in microeconomic analysis to various concrete markets and institutional arrangements.
- Critically assess how theory can be applied to practical problems.
- Critically evaluate the limitations of drawing conclusions based solely on economic theory.
Students are expected to gain an understanding of how economic theory can provide meaningful contributions to understanding a complex set of problems. At the same time, in applied analyses, students also recognize the limitations of what economic analysis can contribute and the importance of other disciplines' roles in problem-solving.
Topics taught each semester:
- Microeconomic methodology
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Industry dynamics
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Markets and efficiency
Topics that may be incorporated into the teaching:
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Capital markets
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Labor markets
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Taxation and public policy
The course consists of 39 lecture hours plus 6 hours of assignment review and feedback.
Throughout the course, there will be 3 multiple-choice tests administered via the learning platform It's Learning.
Higher Education Entrance Qualification
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
| Assessments |
|---|
Exam category: School Exam Form of assessment: Written School Exam - pen and paper Exam/hand-in semester: First Semester Weight: 100 Grouping: Individual Support materials:
Duration: 5 Hour(s) Exam code: SØK 12201 Grading scale: ECTS Resit: Examination every semester |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 36 Hour(s) | |
Feedback activities and counselling | 6 Hour(s) | |
Submission(s) | 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) | |
Examination | 5 Hour(s) |
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.
