APPLIES TO ACADEMIC YEAR 2012/2013
SØK 3520 Microeconomics
Responsible for the course
Department of Economics
According to study plan
Language of instruction
Through the study of microeconomics students will learn the fundamentals of how markets and economic institutions function.
The course is a thorough study on price formation and the production and income distribution in markets. The analysis covers both markets for consumer goods and markets for production resources. There is a special emphasis on the analysis of price trends and industry development in short and long term.
Furthermore, criteria for economic efficiency and high value added are discussed. In particular the course discusses if conditions for individual economic decisions are leading to effective utilisation of community resources. One sees here both the decisions in competitive markets and decisions in markets with limited competition.
Students will understand the basic relationships between individual economic decisions and the social consequences in different market situations. Students will understand the basic principles of how changes in some markets have ripple effects to other markets. Students should also understand the distinction between descriptive and normative theory.
Students will master the basic techniques of financial analysis: They should be able to master the basic economic model system, and understand the distinction between exogenous and endogenous variables. They will also be able to formulate economic optimise problems and solve them analytically.
Students will be able to identify the welfare and distributional consequences of market processes. They will be encouraged to be aware of trade-offs between market efficiency and other considerations that are not captured by market analysis.
MET 2910 Mathematics or equivalent
Riis, Christian og Espen R. Moen. 2012. Moderne mikroøkonomi : med digital arbeidsbok. 2. utg. Gyldendal akademisk
No specified computer-based tools are required.
Learning process and workload
The course consists of 36 lecture hours + 6 hours of plenary assignment review and feedback in plenary.
During the course there will be three multiple choice assignments on the learning platform It's Learning. In order to take the final exam, it is requirered that a minimum of 2 assignments are submitted and approved.
Feedback will be given in the planetary assignment reviews.
Recommended use of hours for students:
The e-learning platform It’s learning is used by the e-learning centre to administrate the mandatory exercises, and make students able to communicate with each other ant the Lecturer. Module sessions are carried out at the beginning of the semester and before exams. The e-learning students are also offered a study guide which is an educational guide to the syllabus.
Recommended use of hours for students:
In order to sit for the final exam in this course, students must get two out of three multiple choice tests apporved.
A five hours individual written exam concludes the course.
SØK 35201 - Written exam, counts for 100% to obtain final grade in SØK 3520 Micoeconomics, 7,5 credits.
Examination support materials
BI-defined exam calculator is allowed. TEXAS INSTRUMENTS BA II Plus™
Examination support materials are specified under examination information in our web-based Student Handbook. Please note the use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids
A re-sit examination is offered every term.
Students who do not get approved two of three multiple choice tests, have not met the course work requirement in the course, and can not take the exam. This means that they must take the course over again. Students who do not get passed the written exam or who want to improve their grade may re-sit at next scheduled examination.
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