ØASØK2000 Mikroøkonomi II Emneplan

The course is an intermediate course in Microeconomics built on the introductory course in Microeconomics I. The course takes an analytical approach to study microeconomics. It intends to develop rigorous, logical reasoning to understand economic concepts. While a majority of the economic theories are treated verbally and graphically, simple models based on elementary calculus are also introduced to examine certain economic issues in detail.

The tuition is in English.

Letter grading A-F.

No prerequisites.

After completing the course, students will acquired the learning outcomes defined in knowledge, skills and general competence"

Knowledge

The student has knowledge of

• the basic economic theories explaining behaviours of consumers and firms
• the market structure
• the economics of information
• game theory in analysing strategic behaviour
• the applications of behavioural economics

Skills

The student can

• use economic concepts to explain consumer and firms- behaviour
• use economic reasoning to discuss economic policies
• formulate and analyse strategic interactions

General competence

The student can

• develop insights to critically address economic issues
• engage in analytical discussions of economic policies

The course material is discussed in lectures.

None.

A written 4-hour exam will be held at the end of the semester.

Knowledge

The student

• can describe the development of trade theory over time, from Smith/Ricardo, via Heckscher-Ohlin to modern trade theory based on imperfect competition
• knows how international trade affects economic growth and resource allocation domestically and internationally
• knows how international trade affects distribution of income
• knows which instruments are used in international trade policy and how these affect welfare
• is familiar with relevant models of economic integration
• is familiar with theories of exchange rate determination
• is familiar with stabilization policies in open economies under various exchange rate regimes

Skills

The student

• can show welfare effects of international trade graphically
• can use algebra to derive changes in distribution of income following international trade
• can show the effects of trade policy instruments graphically
• can use models to describe effects of stabilization policies

Competence

The student

• can reflect critically about current topics in international economic relations

No course requirements.

Individual written 4-hour exam will be held at the end of the semester.

A list of reference aids allowed will be published on our website.