Part I: Markets and prices. Part II: Consumer theory. Part III: Producer theory. Part IV: Market structure and competitive strategy. Part V: General equilibrium, economic efficiency and market failure.

The course aims to give a basic introduction to microeconomic theory: (a) Consumer theory. (b) Producer theory. (c) Perfect competition and monopoly. (d) Welfare economics. Most applied courses in economics and business economics are based on microeconomics. This course will, hopefully, help the student to: (i) Acquire an overview over the most important concepts and models in microeconomics. (ii) Learn to formulate and solve microeconomic problems graphically and mathematically. iii) Acquire good qualifications for further studies in economics.

Lectures, exercise sessions.

MATH100 Introductory Mathematics. It is an advantage but not required to have some background in microeconomics, for instance equivalent to ECN110.

A good background in mathematics will make it easier for students to acquire economic theories. We normally recommend that students take courses in mathematics.

The students need to submit and pass 7 out of 10 assignments. The assignments must be submittedin Fronter before deadline and will be graded by a teaching assistant.

Final written examination: 3,5 hours.

300 hours.

Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)

Lectures: 4 hours per week for 12 weeks. Exercise sessions: 2 hours per week.

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External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.