ELE 3729 Applied Microeconomics
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.
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.
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.
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.
- Taxes and subsidies
- Market failure (externalities, public goods, imperfect competition, natural monopoly and imperfect information).
- Public sector, some facts
- Government failure
- Cost-benefit analysis
- Environmental Economics
- Industrial organization
- International trade
- The financial crise
- Privatization and competition
The course consists of 36 lecture hours + 6 hours of plenary review of exercises.
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.
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.
Higher Education Entrance Qualification.
SØK 3520 Microeconomics or eqivalent
|Exam category||Weight||Invigilation||Duration||Support materials||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination when next scheduled course
|Form of assessment:||Written submission|
|Support materials:|| |
|Resit:||Examination when next scheduled course|
|Workload activity||Duration||Type of duration||Comment student effort|
|Review of assignments in plenary||6||Hour(s)|
|Group work / Assignments||55||Hour(s)|
|Workload activity:||Review of assignments in plenary|
|Workload activity:||Self study|
|Workload activity:||Group work / Assignments|
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.