| Learning objectives |
To achieve the grade 12, students
should meet the following learning objectives with no or only minor
mistakes or errors: 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 exam |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Autumn |
| Aids allowed to bring to the exam |
Limited aids, see the list below:
- Written sit-in-exam on CBS' computers
- Written sit-in-exam with pen and paper
- Books and compendia brought by the examinee
- Notes in paper format brought by the examinee
- Access to personal drive (S-drive) on CBS' network
- USB key to upload your notes before the exam
- Access to all information on CBSLearn
- Approved calculators: HP 10bII+ and Texas BA II Plus
- All dictionaries
|
| 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.
|
|
| 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,
- Rational choice,
- Firms, Production, and costs,
- Competitive markets and monopolies,
- Oligopoly, game theory and strategic behavior,
- Interest rate, investments, and capital
markets.
|
| Teaching methods |
| Lectures and homework tutorials.
Lectures focus on presenting theory and insights. Homeworks focus
on applying these to concrete exercises. The weekly tutorial
sessions provide an opportunity to work on the homeworks in groups
with teacher assistance. |
| Student workload |
| Attending lectures |
40 hours |
| Attending homework |
40 hours |
| Written exam |
5 hours |
| Homework and reading |
140 hours |
|
| Further Information |
|
As an introduction to the basics of economics, the course
provides the prerequisite for all the subsequent economics courses
in the ASP program. The course is simultaneously offered to BLC
students as the mandatory introduction to economics.
|
| Expected literature |
- Jeffrey M Perloff (2012) Microeconomics, Global 7th Edition,
Pearson, with online access. ISBN: 9780273754688,.
- MyEconLab training software, supplied with the purchase of the
textbook.
- Teaching notes and other material uploaded by the
instructors
|
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