ØASØK4100 Avansert mikroøkonomi Emneplan

Mikroøkonomi tar utgangspunkt i den enkelte konsument og den enkelte bedrift for å forklare hvordan en avansert markedsøkonomi, som den norske, fungerer. Kjennskap til mikroøkonomisk teori er essensielt for å kunne analysere spørsmål om reguleringer av markeder, utforming av skattesystemet, nødvendigheten av offentlige tiltak, betydningen av usikkerhet for beslutninger mm.

I kursets første del går vi igjennom teori for konsumentenes valg av arbeid, fritid, sparing og konsumsammensetning. Vi ser også på hvordan usikkerhet påvirker disse valgene. Videre tar vi opp teorien for bedriftenes adferd. Her er fokuset bedriftenes valg av innsatsfaktorer, produksjonsvolum og pris. Til slutt i denne delen settes teoriene for konsumentenes og bedriftenes tilpasning sammen til en teori om markeder. Her studerer vi markedsformene perfekt konkurranse og monopolistisk konkurranse. 

I kursets andre del analyserer vi offentlige goder, behovet for å kreve inn skatt samt samfunnsøkonomiske kostnader ved å kreve inn skatter. Videre studerer vi positive og negative eksternaliteter, og går kort inn på hvordan myndighetene kan korrigere for disse for å forbedre markedets funksjonsmåte. Vi ser også på stordriftsfordeler som gir opphav til fallende gjennomsnittskostnader, og hvordan såkalte naturlige monopoler kan reguleres.

I kursets siste del anvender vi teorien i en nytte-kostnadsanalyse. Det vil si vi går igjennom prinsippene for nytte-kostnads analyse, og studentene gjennomfører så selv en fullstendig analyse av et offentlig tiltak.

Undervisningsspråk er engelsk.

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student

• has an understanding of globalization, globalization forces and how globalization is related to international expansion
• has Insight and deep understanding of international expansion, including choice of markets, modes of entry, and tensions between global integration and local adaptation
• has a particular knowledge about what characterize born global firms/international new ventures and their internationalization process
• has basic and up-to-date knowledge of research and different dilemmas facing firms competing in international markets
• has developed their ability to reflect and understand issues facing firms going international
• has an understanding of sustainability and ethical issues facing internationalizing firms

Skills

The student

• is capable of analyzing complex and comprehensive internationalization issues for various types of internationalizing firms
• can apply theory and critical thinking to real cases and complex business challenges
• can reflect on opportunities and challenges for firms competing internationally

General competence

The student

• can engage in analytical discussions of internationalization issues
• can approach international decisions from various perspectives

A combination of lectures, seminars, case discussions and student presentations. Students are expected to take an active role in their own learning experience, actively participate in discussions, and contribute to an open and positive learning environment in class.

The course is taught in plenary lectures and students work on and discuss different assignments in groups and plenary sessions.

The following coursework requirements must be approved in order for the student to take the exam:

• Coursework: .
  • Completion of two written assignment (up to 6 pages). The coursework will be carried out in groups of four students, comprising different nationalities if possible.
  • Oral presentation in class, of a research article, book chapter, or business case (approx. 20 to 25 minutes), carried out in groups of four students comprising comprising different nationalities if possible.

The required coursework must be completed and approved by the given deadline in order for the student to take the exam. If one or more coursework requirements have not been approved, the students will be given one opportunity to submit an improved version within a given deadline.

The exam in the course is a supervised exam of 5 hours.

The following aids are permitted:

• One dictionary (Native language - English/English - native language or English-English).

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.

None.

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student has

• a broad overview of different sources of risks and how they affect the cashflows and the value of the corporation
• knowledge about how to quantify those risks with popular risk measures
• knowledge of how to mitigate or eliminate the risk exposure with standard derivative contracts
• understanding of when risk management adds value to a corporation

Skills

The student can

• identify different sources of risks and quantify a corporation's exposure to them
• apply different estimation techniques to deal with the time-varying riskiness of financial time series
• calculate the impact of different risks using popular risk measures, e.g., Value-at-Risk, for individual positions and for entire portfolios or the entire corporation
• employ appropriate financial instruments to mitigate or eliminate the impact of the different sources of risks

General competence

The student

• is able to quantify and manage the risk of a corporation
• has a critical understanding of the limitations of the various techniques discussed in the course