EXC 3520 Microeconomics - RE-SIT EXAM
EXC 3520 Microeconomics - RE-SIT EXAM
The course was taught for the last time in autumn 2023. The last re-sit exams are offered in autumn 2024 and spring 2025. Coursework requirements do not apply to the two re-sit exams.
Microeconomics deals with the behaviour of individual economic units, such as consumers, workers, investors, owners of land, and business firms. Microeconomics explains how these units make economic decisions. Another important concern of microeconomics is how these economic units interact in markets and in industries.
The course is international in that we look at market economies - an economic system we find around the world. At the same time as the system has created growth and welfare, it also provides opportunities for privileges and monopoly power. Therefore, understanding the necessity of market corrections forms an important part of the course.
During the course students shall have:
- learned to recognize the systematic analysis of consumer and firm behavior in various market situations
- gained an understanding of the efficiency of resources used given different market forms (perfect competition, monopoly, and monopolistic competition).
- acquired insight into the difference between positive - and normative analysis.
After completing the course students shall:
- be able to solve basic microeconomic optimization problems, and to understand the main principles of economic modelling.
- be able to reason based on graphs and standard optimization problems, linked to individual choices and companies' production - and price decisions.
Students will be encouraged to reflect on and distinguish between the impact market changes have on efficiency versus their distributive effects, and to be conscious the distinction between efficiency goals and other considerations not captured by the market analysis.
- Introduction to microeconomic analysis
- The basis and supply and demand
- Consumer theory
- Consumer behavior
- Individual and market demand
- Producer theory
- Production
- The cost of production
- Competitive markets
- Profit maximization and competitive supply
- The analysis of competitive markets
- Market structure and competitive strategy
- Monopoly
- Pricing with market power
- Monopolistic competition and oligopoly
Five sets of coursework requirements will be posted on Itslearning. In order to attend the final exam, students have to receive passing marks for at least three of these five assignments. Information about deadlines will be presented at the start of the term.
Answers to the work requirements should be posted electronically through itslearning. Feedback will be provided on Itslearning.
Re-sit examination
Students that have not passed the written examination or who wish to improve their grade may re-take the examination in connection with the next scheduled examination.
Higher Education Entrance Qualification
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
No particular prerequisites.
| Assessments |
|---|
Exam category: School Exam Form of assessment: Written School Exam - digital Exam/hand-in semester: First Semester Weight: 100 Grouping: Individual Support materials:
Duration: 3 Hour(s) Exam code: EXC35202 Grading scale: ECTS Resit: Examination every semester |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 28 Hour(s) | |
Teaching | 14 Hour(s) | Videos and supplementary exercises |
Group work / Assignments | 12 Hour(s) | Tutoring sessions |
Student's own work with learning resources | 119 Hour(s) | |
Digital resources
| 24 Hour(s) | Coursework requirements |
Examination | 3 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.