Text

Course syllabus - Applied Microeconomics

Scope

7.5 credits

Course code

NAA129

Valid from

Autumn semester 2022

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

2016-01-28

Revised

2021-12-20

Literature lists

Course literature is preliminary up to 8 weeks before course start. Course literature can be valid over several semesters.

    • Ratified date: 2023-08-15
    • Latest update: 2023-08-15

    Books

    When you purchase Microeconomics by Goolsbee, Levitt, Syverson (only with the unique ISBN for this pack - ISBN 9781319515799) - you will also get electronic access to the Modern Principles of Microeceonomics by Cowen and Tabarrok, both books are mandatory.
    ISBN 9781319515799 (Bundle 1: one hardcopy book with electronic access to another, Bundle 2: another deal only with two e-books)

    Goolsbee, Austan.; Levitt, Steven D.; Syverson, Chad

    Microeconomics

    Third edition. : New York, NY : Worth Publishers, [2020] - 1 volume (various pages)

    ISBN: 9781319306793 LIBRIS-ID: t6783w2br48xtft3

    Mandatory

    Cowen, Tyler; Tabarrok, Alexander

    Modern principles : microeconomics

    Fifth edition : New York : Macmillan International, [2021] - xxxii, 516 sidor, A-12, B-12, G-3, R-6, I-13

    ISBN: 9781319384029 LIBRIS-ID: 1g4f0bstzqtrrsss

    Mandatory

    • Ratified date: 2022-11-18
    • Latest update: 2022-11-18

    Books

    When you purchase Microeconomics by Goolsbee, Levitt, Syverson (only with the unique ISBN for this pack - ISBN 9781319515799) - you will get free electronic access to the Modern Principles of Microeceonomics by Cowen and Tabarrok, both books are mandatory.
    ISBN 9781319515799 (bundle: one hardcopy book with free electronic access to another)

    Goolsbee, Austan.; Levitt, Steven D.; Syverson, Chad

    Microeconomics

    Third edition. : New York, NY : Worth Publishers, [2020] - 1 volume (various pages)

    ISBN: 9781319306793 LIBRIS-ID: t6783w2br48xtft3

    Mandatory

    Cowen, Tyler; Tabarrok, Alexander

    Modern principles : microeconomics

    Fifth edition : New York : Macmillan International, [2021] - xxxii, 516 sidor, A-12, B-12, G-3, R-6, I-13

    ISBN: 9781319384029 LIBRIS-ID: 1g4f0bstzqtrrsss

    Mandatory

Objectives

The aim of this course is to learn how microeconomics principles can be used to analyse, explain and suggest optimal solutions within various economic topics.

Learning outcomes

Upon the completion of the course the students will be able to: 
* Explain and show how firms in imperfect markets, such as oligopoly and monopolistic competition, make optimal decisions.
* Explain and show the optimal wages and the employment level under competitive and imperfect labour markets.
* Explain the nature and consequences of general equilibrium and the economic efficiency (Pareto optimality)
* Explain the problems of imperfect and asymmetric information (mainly moral hazard and principal-agent problems).
* Explain the limitations of a market economy to solve the externalities (such as environmental problems and the management of natural resources), and the advantages and disadvantages of various environmental policy tools.
* Explain and show the classical and neoclassical theory of international trade, and the welfare effects from free trade and the welfare losses from various barriers to trade measures, as well as the income distribution from free and regulated trade.

Course content

The course covers various topics such as: Uncertainty and Consumer Behaviour; Price Discrimination; Monopolistic Competition; Oligopoly; Game Theory; General Equilibrium and Economic Efficiency; Asymmetric Information; Externalities; Classical and neo-classical trade theories; Barriers to Trade.

Tuition

Written examination (TEN1), 6 credits, marks Fail (U), Passed (G) or Passed with distinction (VG
Assignment (INL1), 1,5 credits,  marks Fail (U) or Passed (G)

Requirements

Basic eligibility and English 6, Mathematics 3b or 3c or Mathematics C

Grade

Pass with distinction, Pass, Fail

Interim Regulations and Other Regulations

The course overlaps 7,5 credits with: 
NAA100 Microekonomics
NAA125 Microekonomics 2

4 credits with: 
NAA114 Environmental Economics
NAA109 Environmental Economics 
NAA118 Environmental Economics

2 credits with 
NAA113 Trade Theory and International Finance
NAA119 International Economics

1,5 credits with: 
NAA111 Microeconomic theory
NAA121 Microeconomics
NAA123 Microeconomic theory
NAA107 Microeconomics

It is desirable that you have studied Microeconomics 1.