SØK 1101 Microeconomics I - RE-SIT EXAM

SØK 1101 Microeconomics I - RE-SIT EXAM

Course code: 
SØK 1101
Department: 
Economics
Credits: 
7.5
Course coordinator: 
Dag Morten Dalen
Course name in Norwegian: 
Mikroøkonomi I - KONTINUASJONSEKSAMEN
Product category: 
Bachelor
Portfolio: 
Bachelor - Common Courses
Semester: 
2024 Spring
Active status: 
Re-sit exam
Level of study: 
Bachelor
Resit exam semesters: 
2023 Autumn
2024 Spring
Resit exam info

The course was taught for the last time in spring 2023. A re-sit examination is offered in autumn 2023 and for the last time in spring 2024.

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
  • Through 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
  • Game theory
  • Pareto- effectiveness
  • Optimization of functions
Teaching and learning activities

The course consists of 14 three-hour lectures.  

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

There have previously been coursework requirements in this course. Students who are to take the re-sit exam no longer have to comply with the coursework requirements.

Qualifications

Higher Education Entrance Qualification

Disclaimer

Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge

No particular prerequisites.

Assessments
ExamWeightInvigilationDurationSupport materialsGroupingComment
Exam category
Submission
Form of assessment
Written submission
Exam code
SØK11011
Grading scale
ECTS
Grading rule
Internal examiner
100
Yes
5 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Individual
.
Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
SØK11011
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
-
100Yes5 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
Individual .
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:.
Exam code:SØK11011
Grading scale:ECTS
Resit:-
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching
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.