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Course syllabus - Basic Microeconomics

Scope

7.5 credits

Course code

NAA143

Valid from

Autumn semester 2024

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

2024-01-18

Literature lists

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

    • Ratified date: 2024-06-27
    • Latest update: 2024-06-27

    Books

    URL: Paketerbjudanen/Bundle offers

    Bundle deal 1 with code GCA5024L (Printed and e-book of the main book + e-book of the supplementary book + Access to the publisher's e-resources ‘Achieve' activated with the time of the purchase and valid for 12 months):

    - Goolsbee et al. Microeconomics 4th edition pack, ISBN 9781319557157 (Printed book + 12 months Achieve access card including e-book)
    - Cowen and Tabarrok, Modern Principles of Microeconomics 6th edition, ISBN 9781319552220 (12 months Achieve instant access including e-book with the course code: ouz9ns)

    URL: Paketerbjudanen/Bundle offers

    Bundle deal 2 with code GCP5524L (e-book of the main book + e-book of the supplementary book + Access to the publisher's e-resources ‘Achieve' activated with the time of the purchase and valid for 12 months):

    - Goolsbee et al. Microeconomics 4th edition pack ISBN 9781319545871 (12 months Achieve instant access including e-book with the course code: aj4zch)
    - Cowen and Tabarrok, Modern Principles of Microeconomics 6th edition, ISBN 9781319552220 (12 months Achieve instant access including e-book with the course code: ouz9ns)

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

    Microeconomics

    Fourth edition. : New York, NY : Worth Publishers, [2024] - xxix, 561 pages, various pagings

    ISBN: 9781319527426 LIBRIS-ID: r97cs7hsprhs9rht

    UK ISBN: 9781319544294

    Mandatory

    Cowen, T.; Tabarrok, A.

    Modern principles of Microeconomics

    Macmillan Learning, 2024

    ISBN: 9781319544379, 6th edition
    Supplementary

Objectives

The aim of this course is to give students a basic knowledge and understanding of the unregulated and regulated price mechanism, in order to allocate the limited resources of consumers and producers to satisfy their unlimited and conflicting needs, respectively optimize their production.

Learning outcomes

Upon the completion of the course the students will be able to: 

* Use the demand and supply functions to determine the market equilibrium. 
* Show and explain how consumers make optimal decisions, and explain price and income elasticities.  
* Show and explain how firms make optimal decisions based on their costs in the short and long run.  
* Show and explain the profit maximizing price and production for a firm operating in a competitive market.  
* Show and explain how economic models are used to evaluate the impact of government intervention (such as price ceilings, price floors and taxes) on consumer and producer surplus. 
* Determine the profit maximizing price and output for a monopoly firm. 
 

Course content

Supply and demand, the basics of consumption theory, production theory, cost theory, perfect competition, monopoly, analysis of various events in competitive and price-setting markets.

Requirements

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

Examination

Written examination (TEN1), 6 credits, Grades Excellent (A), Very good (B), Good (C), Satisfactory (D), Sufficient (E), Insufficient (F)  (learning outcomes 1-6) 

Exercises (OVN1), 1,5 credits, grades: Fail (U) or Pass (G) (learning outcomes 1-6) 

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

Excellent, Very good, Good, Satisfactory, Sufficient, Insufficient, complementary work possible, Insufficient

Interim Regulations and Other Regulations

The course overlaps 7,5 credits with:
NAA100 Microeconomics
NAA124 Microeconomics 1
NAA128 Basic Microeconomics
NAA134 Basic Microeconomics
 
And 6 credits with:
NAA107 Microekonomics
NAA111 Microekonomic theory
NAA121 Microekonomics
NAA123 Microekonomic theory