ØASØK4100 Microeconomics Course description

Microeconomics takes as its starting point the individual consumer and the individual company to explain how an advanced market economy, such as the Norwegian one, works. Knowledge of microeconomic theory is essential to be able to analyze questions about regulation of markets, design of the tax system, the necessity of public measures, the importance of uncertainty for decisions etc.

In the first part of the course, we go through theory for consumers' choice of work, leisure, savings and consumption composition. We also look at how uncertainty affects these choices. Furthermore, we take up the theory of companies' behavior. Here, the focus is on the companies' choice of input factors, production volume and price. Finally, the theories for consumer and business adaptation are combined into a theory of markets. Here, we study the market forms of perfect competition and monopolistic competition.

In the second part of the course, we analyze public goods, the need to collect taxes as well as the socio-economic costs of collecting taxes. We also study positive and negative externalities, and briefly go into how the authorities can correct for these in order to improve the functioning of the market. We also look at economies of scale that give rise to falling average costs, and how so-called natural monopolies can be regulated.

Language of instruction is English.

None

All aids are permitted, provided the rules for plagiarism and source referencing are complied with.

Grade scale A - F

One internal examiner. External examiners are used periodically.

The exam in the course is a supervised exam of 4 hours.

• Current theories, frameworks, and methods of planning, carrying out, and assessing global engineering communication projects.

• Current theories, frameworks, and issues in intercultural communication which may impact the effectiveness of global engineering communication
• Main views, trends, and arguments on the topic as evidenced in research literature in engineering communication
• Critical analysis and use of communication technologies for global engineering projects, including issues of access, usability, and user experience.

Grade scale A - F

The exam papers are assessed by one internal and one external examiner.

At least 25% of the exam papers will be assessed by two examiners. The grades awarded for the papers assessed by two examiners form the basis for determining the level for all the exam papers.

Jacopo Bizzotto

Simen Ulsaker