APPLIES TO ACADEMIC YEAR 2012/2013
ELE 3742 Market, crises and environment |
Responsible for the course
Department of Innovation and Economic Organisation
According to study plan
Language of instruction
The course addresses key themes and recurring issues in economic organization over the past 250 years. The starting point is Adam Smith's view of the market economy in his groundbreaking work The Wealth of Nations, published in 1776. Then will be presented what later economists have said about the same topic. The course's pervasive theme is the market economy's opportunities and problems related to business, government and the individual's role and behavior in society. Modern economic theory that also explain the functions of the markets from information conditions and psychological factors are also taken up.
How one can handle financial crises, environmental and resource challenges and unequal income distribution issues in a market economy will be also discussed in reation to the ideas that are presented in the course.
- to obtain kowledge og what are the basic mechanisms of a market economy, as Smith described it.
- become aware of the assumptions that lay behind Smith's model
- get more knowledge of the consequences of different production and consumer conditions for how a market economy works.
- get more knowledge of the factors that can influence a market economy over time, especially the impact of new technology and other changes in production conditions, and income conditions and consumer habits.
-gain further knowledge of what should be the role of government in a market economy, including the hoe the resource and environmental challenges can be met in the best possible way.
-lLearn about the role of information and communication for the market economy, including the effects of asymmetric information in markets.
- learn about the assumptions about behavior behind our actions in the markets, including full and limited rationality and the role of economic and social incentives play.
- improved ability to to assess and discuss the market economy's strengths and weaknesses as seen from the point of wiev of different interests in society.
-will be better able to see the current economic problems and proposals and how these can be handled according to economic theory.
- develop greater awareness of the importance of economic institutions, economic organization and economic behavior of the public sector, business and other organizations and individuals in the society.
- develop the ability to utilize theory and practical knowledge in combination in order to reflect on what are the consequences for society, business and individuals of various forms of economic organization and human behavior in markets.
Sandmo, Agnar. 2006. Samfunnsøkonomi : en idéhistorie. Universitetsforlaget
Collection of articles:
Atle Raa. 2012. Artikkelsamling til Marked, kriser og miljø. Handelshøyskolen BI. (Oversikt over artikler som inngår i artikkelsamlingen vil bli publisert på Its learning - og kan lastes ned elektronisk)
Learning process and workload
Examination support materials
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