| Learning objectives |
To receive the grade 12, the student should
fulfil the following learning objectives with no significant
shortcomings:
- Account for the method, paradigm, and core principles of
economics
- Apply basic analytical tools such as demand and supply curves,
comparative statics, elasticity calculation, and consumer and
producer surplus to show how you can calculate the effects of
changes in market conditions or public policy on prices and
quantities, the efficiency of production, and the distribution of
benefits and costs among participants in the economic system.
- Explain the limitations of market systems in the face of
externalities, public goods, resource depletion, climate change and
other types of market failures, and assess the scope for overcoming
these limitations through public policy.
- Account for alternative industry structures (monopoly,
competition, etc.), the conditions that can give rise to them,
their implication for welfare and efficiency, and the scope for
public policy to regulate them.
- Explain the concepts of risk, choice under uncertainty, and
value of information and how they relate to the workings of
financial asset markets.
- Perform simple calculations to provide a basis for rational
choices between alternative risky prospects, and contrast this to
how humans make decisions under uncertainty.
- Explain at a basic level the concepts, tools, and insights from
selected areas from “modern” microeconomics – e.g., transaction
cost economics, principal-agent theory, game theory, adverse
selection, and moral hazard –and analyze how they manifest in
real-world situations.
|
| Examination |
|
Microeconomics:
|
| Exam
ECTS |
7,5 |
| Examination form |
Written sit-in exam |
| Individual or group exam |
Individual |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and external examiner |
| Exam period |
December/January |
| Aids allowed to bring
to the exam |
Limited aids, see the list below and the exam
plan/guidelines for further information:
- Allowed dictionaries
- Books and compendia brought by the examinee
- Notes brought by the examinee
|
| Make-up exam/re-exam |
Same examination form as the ordinary exam
If the number of registered candidates for the make-up
examination/re-take examination warrants that it may most
appropriately be held as an oral examination, the programme office
will inform the students that the make-up examination/re-take
examination will be held as an oral examination
instead.
|
Description of the exam
procedure
Four-hour open-book PC exam on CBS
computers with print.
It is not allowed to bring your own PC and printer.
No access to the internet .
Access to personal S:/drive and LEARN.
Before the exam starts information can also be uploaded from a
USB-key to PC, then the USB-Key should be put away during
exam.
|
|
| Course content and structure |
|
Microeconomics constitutes much of the theoretical foundation
for many management fields, including strategy, marketing, finance,
and international business. This course provides an
introduction to the methodology, perspective, analytical style, and
main theoretical insights of economics as it applies to individual
to organizations, industries, and markets. Topics covered in
the course include:
- Market supply, demand, and equilibrium,
- Elasticity of demand and supply,
- Production and costs,
- Optimal producer and consumer choices,
- Competitive markets and monopolies,
- Oligopoly, game theory and strategic behavior,
- Decisions under risk and uncertainty,
- Market failures and regulation,
- Economics of information.
|
| Teaching methods |
| Lectures and tutorial exercises. Lectures focus
on presenting theory and insights. Tutorials focus on applying
these to concrete exercises. Exercises are based on the MyEconLab
platform supplied with the textbook. |
| Student workload |
| Attending lectures |
24 hours |
| Attending tutorials |
24 hours |
| Written exam |
4 hours |
| Homework and reading |
154 hours |
|
| Further Information |
|
As an introduction to the basics of economics, the course
provides the prerequisite for all the subsequent economics courses
in the BLC program. The course is simultaneously offered to ASP
students as the mandatory introduction to economics.
|
| Expected literature |
- Jeffrey M Perloff (2012) Microeconomics, Global 6th Edition,
Pearson, ISBN: 978-0-273-75460-2.
- MyEconLab training software, supplied with the purchase of the
textbook.
- Teaching notes and other material uploaded by the
instructors
|
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