GRA 6626 Economic theory
 |
APPLIES TO ACADEMIC YEAR 2016/2017 |
GRA 6626 Economic theory
Responsible for the course
Tom-Reiel Heggedal
Department
Department of Economics
Term
According to study plan
ECTS Credits
6
Language of instruction
English
Introduction
Microeconomics is the basic tool for understanding complex market-oriented economies. This course provides the students with the concepts and models used in modern microeconomic analysis.
Learning outcome
Provide students with an understanding of the key areas of microeconomic, such as the nature of economic decisions of individual units and the role of economic institutions in shaping the allocation of resources in the economy.
Prerequisites
All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have spesific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.
Compulsory reading
Books:
Varian, Hal R. 2014. Intermediate Microeconomics with calculus. W.W Norton & Company
Other:
During the course there may be hand-outs and other material on additional topics relevant for the course and the examination
Recommended reading
Course outline
Main topics are:
Consumer theory
Theories of the firm and market structure
Competitive markets and general equilibrium analysis
Capital markets
Basic welfare economics and various forms of market failure
Choice under uncertainty
Game theory
Asymmetric information and contracts
Computer-based tools
Not applicable
Learning process and workload
A course of 6 ECTS credits corresponds to a workload of 160-180 hours.
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on the course homepage/It's learning or text book.
Examination
Written examination 3 hours
| Form of assessment | Weight | Group size |
| Written examination 3 hours | 100% | |
Specific information regarding student assessment will be provided in class. This information may be relevant to requirements for term papers or other hand-ins, and/or where class participation can be one of several components of the overall assessment. All parts of the assessment must be passed in order to get a grade in the course. Candidates may be called in for an oral hearing as a verification/control of written assignments.
Examination code(s)
GRA 66264 3-hour written examination accounts for 100% of the final grade in the course GRA 6626.
Examination support materials
BI approved exam calculator
Bilingual dictionary
Permitted examination support materials for written examinations are detailed under examination information in the student portal @bi. The section on support materials and the use of calculators and dictionaries should be paid special attention to.
Re-sit examination
It is only possible to retake an examination when the course is next taught. The assessment in some courses is based on more than one exam code. Where this is the case, you may retake only the assessed components of one of these exam codes. All retaken examinations will incur an additional fee. Please note that you need to retake the latest version of the course with updated course literature and assessment. Please make sure that you have familiarised yourself with the latest course description.
Additional information
Honour code. Academic honesty and trust are important to all of us as individuals, and are values that are integral to BI's honour code system. Students are responsible for familiarising themselves with the honour code system, to which the faculty is deeply committed. Any violation of the honour code will be dealt with in accordance with BI’s procedures for academic misconduct. Issues of academic integrity are taken seriously by everyone associated with the programmes at BI and are at the heart of the honour code. If you have any questions about your responsibilities under the honour code, please ask. The learning platform itslearning is used in the teaching of all courses at BI. All students are expected to make use of itslearning.