Text

Course syllabus - Microeconomics 1

Scope

7.5 credits

Course code

NAA137

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

Organisation

School of Business, Society and Engineering

Ratified

2020-06-26

Revised

2021-12-20

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.

    • Ratified date: 2023-11-09
    • Latest update: 2025-05-27

    Books

    Bergh, Andreas; Jakobsson, Niklas; Gallo, Fredrik

    Modern mikroekonomi: marknad, politik och välfärd

    ISBN: 9789144156804

    LIBRIS-ID: l17zm431jq0v0plj

    Femte upplagan, Lund, Studentlitteratur, 468 sidor

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, in competitive and monopoly markets.

Learning outcomes

Upon the completion of the course the students will be able to:
* Show and explain how consumers make optimal decisions, as well as the income and substitution effects, consumer surplus, demand curve and elasticity.
* Show and explain how firms maximize their profits or minimize their costs in both short- and long run, with one and two production factors, producer surplus, supply curve and elasticity.
* Use the demand and supply functions to determine the market equilibrium.
* Show and explain how comparative static analysis (changes in supply and/or demand), is used to evaluate the impact of government intervention (such as price ceilings, floors and taxes) on consumer and producer surplus.
* Determine the profit maximizing price and output for a monopoly and a monopsony firm.

Course content

The Basics of Supply and Demand; Consumption theory; Production theory; Cost theory; Perfect competition; Monopoly, Monopsony; Analysis of Competitive Markets; Public goods.

Specific requirements

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

Examination

Written axamination (TEN1), 6 credits, grade Excellent (A), Very good (B), Good (C), Satisfactory (D), Sufficient (E), Insufficient, Insufficient (F)
Excercises (OVN1), 1,5 credits, marks Pass (G)

A student who has a certificate from MDU regarding disability study support, can request adaptions for the examination. It is the examiner who takes decisions on any adaptions, based on the certificate and other conditions.

Grade

AF-skala

Interim Regulations and Other Regulations

The course overlaps 7,5 credits with:
NAA100 Microeconomics
NAA128 Basic Microeconomics
NAA124 Microeconomics 1

And 6 credits with:
NAA107 Microekonomics
NAA111 Microekonomic theory
NAA121 Microekonomics
NAA123 Microekonomic theory
NAA102 Microeconomics and Trade Theory
ENA001 Microeconomics
ENA003 Microeconomics and Trade Theory