SØK 1101 Microeconomics I

SØK 1101 Microeconomics I

Course code: 
SØK 1101
Department: 
Economics
Credits: 
7.5
Course coordinator: 
Christian Riis
Product category: 
Bachelor
Portfolio: 
Bachelor - Core Courses
Semester: 
2019 Spring
Active status: 
Active
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

This course will introduce the students to basic economics and principles of how the markets work. They will study how enterprise and individuals achieve economic results through their choices, and achieve an understanding of how the resources in the society are distributed in a market economy.

Learning outcomes - Knowledge
  • The students shall gain basic insight in the principles of microeconomic analysis and use in different markets.
  • Gain knowledge about how enterprise and individuals are facing economic choices in a market economy.
     
Learning outcomes - Skills
  • Describe how utility maximization can be used to divert demand of goods and service, save decisions and labour supply.
  • Describe how the enterprises desires of maximum earnings or profit can be used to divert offer of goods and services in a market economy.
  • Explain the difference between different type of markets as perfect competition, monopoly and oligopoly.
  • Apply game theory in the analysis of oligopolistic competition
  • Explain how prices and production volume is decided under such market conditions.
  • Explain what is meant by effectiveness in the sense of economic, and to take decisions whether a market economy is effective or not in this sense.
  • To use mathematical optimized functions with one or more variables of basic economic optimized problems.
Learning Outcome - Reflection
  • Trough the course students will develop a critical attitude to scientific analysis, and stimulated to assess the economic objectives against other societal concerns.
Course content
  • Economic choices
  • Utility maximization
  • Profit maximization
  • Supply and demand
  • Perfect competition
  • Industry dynamics
  • Monopoly
  • Oligopoly
  • Pareto- effectiveness
  • Game theory
  • Optimization of functions
Learning process and requirements to students

The course consists of 12 three-hour lectures.  

Software tools
No specified computer-based tools are required.
Additional information

Re-sit examination
Students that have not gotten approved the coursework requirements, must re-take the exercises during the next scheduled course.

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.

Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

No particular prerequisites.

Mandatory courseworkCourseworks givenCourseworks requiredComment coursework
Mandatory32The students will receive three hand-in exercises on It's learning. In order to take the final examination, two out of three exercises must be approved.

Feedback on the exercises will be given through a review in the classroom. The students will also get access to learning resources developed by the publisher of the book.
Mandatory coursework:
Mandatory coursework:Mandatory
Courseworks given:3
Courseworks required:2
Comment coursework:The students will receive three hand-in exercises on It's learning. In order to take the final examination, two out of three exercises must be approved.

Feedback on the exercises will be given through a review in the classroom. The students will also get access to learning resources developed by the publisher of the book.
Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
SØK11011
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination every semester
100Yes5 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Individual Students who have not passed two of three exercises, are not allowed to sit for the examination. They have to re-take the whole course. Students that do not pass the written examination or who wish to improve their grade, can take a re-sit examination the next time the examination is offered.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
Duration:5 Hour(s)
Comment:Students who have not passed two of three exercises, are not allowed to sit for the examination. They have to re-take the whole course. Students that do not pass the written examination or who wish to improve their grade, can take a re-sit examination the next time the examination is offered.
Exam code:SØK11011
Grading scale:ECTS
Resit:Examination every semester
Exam organisation: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching36Hour(s)
Review of assignments in plenary6Hour(s)
Submission(s)18Hour(s)
Prepare for teaching36Hour(s)
Group work / Assignments49Hour(s)
Self study50Hour(s)
Examination5Hour(s)
Expected student effort:
Workload activity:Teaching
Duration:36 Hour(s)
Comment:
Workload activity:Review of assignments in plenary
Duration:6 Hour(s)
Comment:
Workload activity:Submission(s)
Duration:18 Hour(s)
Comment:
Workload activity:Prepare for teaching
Duration:36 Hour(s)
Comment:
Workload activity:Group work / Assignments
Duration:49 Hour(s)
Comment:
Workload activity:Self study
Duration:50 Hour(s)
Comment:
Workload activity:Examination
Duration:5 Hour(s)
Comment:
Sum workload: 
200

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.

Talis literature

Obligatorisk/Compulsory

Book
Authors/Editors År Tittel Edition Publisher StudentNote
Riis, Christian; Moen, Espen R. 2017 Moderne mikroøkonomi 4. utg Gyldendal akademisk Digital arbeidsbok er tilgjengelig på: https://cymra.no/book/preview/66 (Krever registrering)