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: 
2021 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.
General Competence
  • 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
  • Innovation and productivity growth
  • Optimization of functions
Teaching and learning activities

The course consists of 12 three-hour lectures.  

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

Det har tidligere vært arbeidskrav i kurset. Studenter som skal ta kontinuasjosneksamen trenger ikke lenger å forholde seg til arbeidskavene. 

Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

No particular prerequisites.

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
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching on Campus
36 Hour(s)
Feedback activities and counselling
6 Hour(s)
Review of assignments in plenary
Submission(s)
18 Hour(s)
Prepare for teaching
36 Hour(s)
Group work / Assignments
49 Hour(s)
Student's own work with learning resources
50 Hour(s)
Examination
5 Hour(s)
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.