| 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 on CBS'
computers |
| 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 |
Limited aids, see the list below:
The student is allowed to bring - Any calculator
- Language dictionaries in paper format
The student will have access to - Advanced IT application package
At all written
sit-in exams the student has access to the basic IT application
package (Microsoft Office (minus Excel), digital pen and paper,
7-zip file manager, Adobe Acrobat, Texlive, VLC player, Windows
Media Player). PLEASE NOTE: Students are not allowed to communicate
with others during the exam :
Read more about exam aids and IT application
packages here |
| 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
|
| 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. |
| Feedback during the teaching period |
| Feedback is offered in response to your questions
and work whenever feasible although please appreciate that there
are often time constraints. Please feel free to take full advantage
of the ‘office hours’ offered by full-time staff members, although
these can never be a substitute for participation in lectures and
classes. We also encourage you to ask questions or make comments in
class and form self-study groups to secure peer feedback on your
work. |
| Student workload |
| Attending lectures |
40 hours |
| Attending homework sessions |
40 hours |
| Written exam |
4 hours |
| Homework and reading |
122 hours |
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| Further Information |
|
As an introduction to the basics of economics, the course
provides the prerequisite for all the subsequent economics courses
in the IBA 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
Please note: these reading materials are only tentative and
changes may occur. Final literature lists will be uploaded on LEARN
before the course begins.
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