| Learning objectives |
- 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.
- Describe and rationalize the essential prerequisites for
microeconomic models such as models for supply and demand,
incomplete competition. Graphically illustrate the contents of
these models as well as perform simple analyzes.
- Algebraically solve simple economic issues such as Utility and
profit maximization, supply demand, and algebraically determine
equilibrium values of economic variables such as Price, quantity
and profit.
- 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 at a basic level the concepts, tools, and insights from
selected areas from “modern” microeconomics – e.g. game theory and
behavioural economics–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-point grading scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Winter |
| Aids |
Limited aids, see the list below:
The student is allowed to bring - An approved calculator. Only the models HP10bll+ or Texas BA ll
Plus are allowed (both models are non-programmable, financial
calculators).
- Language dictionaries in paper format
The student will have access to - basic IT application package
|
| 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, structure and pedagogical
approach |
|
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
organizations, industries, and markets. Topics covered in the
course include:
- Market supply, demand, and equilibrium,
- Elasticity of demand and supply,
- Rational choice and consumer theory
- Production and costs,
- Optimal producer and consumer choices,
- Competitive markets and monopolies,
- Oligopoly and game theory
|
| Description of the teaching methods |
Lectures, homework and tutorials. Lectures focus
on presenting theory and insights. The homework focuses on applying
these to concrete exercises. The weekly tutorial sessions provide
an opportunity to work on the homework in groups with teacher
assistance.
Both lectures and tutorials will be held in person. |
| Feedback during the teaching period |
| Feedback is given during office hours once a week
(2 hours), through quizzes in class, and through tutorials once a
week (4 hours). |
| Student workload |
| Attending lectures |
40 hours |
| Attending homework sessions |
40 hours |
| Written exam |
4 hours |
| Homework and reading |
122 hours |
|
| 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 (2018) Microeconomics, Global 7th Edition,
Pearson, with online access.
- In alternative: Microeconomics. CBS - BLC and IBA. 2nd Edition.
Compiled by Orsola Garofalo
- 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
Canvas before the course begins.
|
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