Syllabus for Economics B: Microeconomics and Applications

Nationalekonomi B: Mikroteori med tillämpningar

A revised version of the syllabus is available.

Syllabus

  • 15 credits
  • Course code: 2NE669
  • Education cycle: First cycle
  • Main field(s) of study and in-depth level: Economics G1F

    Explanation of codes

    The code indicates the education cycle and in-depth level of the course in relation to other courses within the same main field of study according to the requirements for general degrees:

    First cycle

    • G1N: has only upper-secondary level entry requirements
    • G1F: has less than 60 credits in first-cycle course/s as entry requirements
    • G1E: contains specially designed degree project for Higher Education Diploma
    • G2F: has at least 60 credits in first-cycle course/s as entry requirements
    • G2E: has at least 60 credits in first-cycle course/s as entry requirements, contains degree project for Bachelor of Arts/Bachelor of Science
    • GXX: in-depth level of the course cannot be classified

    Second cycle

    • A1N: has only first-cycle course/s as entry requirements
    • A1F: has second-cycle course/s as entry requirements
    • A1E: contains degree project for Master of Arts/Master of Science (60 credits)
    • A2E: contains degree project for Master of Arts/Master of Science (120 credits)
    • AXX: in-depth level of the course cannot be classified

  • Grading system: Fail (U), Pass (G), Pass with distinction (VG)
  • Established: 2009-09-30
  • Established by: The Board of the Department of Economics
  • Revised: 2011-09-29
  • Revised by: The Board of the Department of Economics
  • Applies from: Autumn 2011
  • Entry requirements:

    At least 22.5 credits from Economics A.

  • Responsible department: Department of Economics

Learning outcomes

After completing the course, the student is expected to be able to:

- verbally, graphically and mathematically describe how consumption theory explains the decisions of a consumer and apply this to analyse different kinds of consumer decisions

- describe the explanation of production theory for the optimisation behaviour of producers and explain the relation between this and the costs of firms

- analyse equilibrium and welfare effects on different kinds of markets

- discuss the consequences of public policy

- identify and describe market failures and be able to explain how different kinds of instruments of control can adjust these

- understand and explain the basic ideas behind general equilibrium and decisions under uncertainty

Content

The aim of the course is to provide more profound insights into economic theory. It starts by a short repetition of the basic elements in a market economy. Then, there is a discussion of how a consumer chooses his consumption and how a producer determines his production method (consumption and production theory, respectively). Then, the costs for a firm are explained (cost theory). Moreover, the equilibrium on a market is studied under different conditions and the welfare consequences of different equilibria and government interventions are analysed. The course ends with a survey of general equilibrium, market failures and decisions under uncertainty. Besides theoretical analyses, certain areas for application and examples will be discussed during the course.

Instruction

The instruction consists of lectures with exercises.

Assessment

The grades on the course are pass with distinction (VG), pass (G) and fail (U). The assessment consists of a test corresponding to 2 credits and a written exam corresponding to 13 credits. The grades on the test are pass (G) and fail (U) and for the exam pass with distinction (VG), pass (G) and fail (U).

Each part of the course is reported separately into UPPDOK. A total grade for the whole course amounting to 15 credits is given when both parts have been completed. For the grade pass (G), a pass is required on both the test and the exam. For the grade pass with distinction (VG), pass with distinction (VG) is required on the exam and pass (G) on the test.

Syllabus Revisions

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