Print Course syllabus
Course syllabus - Microeconomics
Scope
7.5 credits
Course code
NAA121
Valid from
Autumn semester 2015
Education level
First cycle
Progressive Specialisation
G1N (First cycle, has only upper-secondary level entry requirements).
Main area(s)
Economics
School
School of Business, Society and Engineering
Ratified
2015-02-04
Status
This syllabus is not current and will not be given any more
Literature lists
Course literature is preliminary up to 8 weeks before course start. Course literature can be valid over several semesters.
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Books
Microeconomics
8. ed. : Boston [u.a.] : Pearson, 2012 - XXIV, 743 S.
ISBN: 9781447925156 LIBRIS-ID: 13416054
Objectives
The aim of this course is to give students a solid background of the mechanism and the effects of the price system as an allocation mechanism to satisfy unlimited (and conflicting) needs, in both competitive and non-competitive markets.
Learning outcomes
Upon completion of this course, students should be able to:
- explain and show the basics of demand, supply and the market mechanism of private goods;
- explain and show the consumer behaviour, the optimal choice of goods, elasticities, income and substitution effects and consumer surplus;
- explain and show the production choice with one and two variable factors, and the cost of production in short and long run;
- explain and show the profit maximization in competitive markets, the producer surplus and the welfare implications of perfect competition;
- explain and show the welfare implications of various distortions, such as taxes, minimum wages and maximum rents;
- explain and show the pricing or production decisions of firms in monopoly, oligopoly and monopolistic competition;
- explain and show the demand and supply of labour;
- explain and show basics of public goods or services;
- use graphs, simple mathematics and economic arguments to explain optimal economic decisions.
Course content
The Basics of Supply and Demand; Consumption theory; Production theory; Cost theory; Perfect & Imperfect competition; Monopoly & Oligopoly; Factor Markets; Natural Monopolies & Public goods.
Tuition
The course is organised in a series of lectures, problems solving sessions and one test.
Requirements
Studies in Mathematics of 3 years from Upper Secondary School with a Science profile and a TOEFL test result, minimum score 575 with a TWE score of at least 4,5 (PBT) or 90 with a TWE score of at least 20 (iBT)/IELTS test result with an overall band score of minimum 6,5 and no band score below 5,5.
Examination
Written examination (TEN1), 6 credits, marks Pass (G) or Pass with distinction (VG)
Test (INL1), 1.5 credits, mark Pass (G)
In addition, grades may also be given according to the ECTS grading scale.
A student who has a certificate from MDU regarding a disability has the opportunity to submit a request for supportive measures during written examinations or other forms of examination, in accordance with the Rules and Regulations for Examinations at First-cycle and Second-cycle Level at Mälardalen University (2020/1655). It is the examiner who takes decisions on any supportive measures, based on what kind of certificate is issued, and in that case which measures are to be applied.
Suspicions of attempting to deceive in examinations (cheating) are reported to the Vice-Chancellor, in accordance with the Higher Education Ordinance, and are examined by the University’s Disciplinary Board. If the Disciplinary Board considers the student to be guilty of a disciplinary offence, the Board will take a decision on disciplinary action, which will be a warning or suspension.
Grade
Pass with distinction, Pass, Fail
Interim Regulations and Other Regulations
The course replaces NAA107 Microeconomics and overlaps 7,5 credits with each of the courses NAA111 Microeconomic Theory and NAA100 Microeconomics.