ECN210 Intermediate Microeconomics - Consumers, Producers, Market and Welfare
Showing course contents for the educational year 2021 - 2022 .
Course responsible: Mette Wik
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: NO
Teaching exam periods:
This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel.
Course frequency: Annually
First time: Study year 2003-2004
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.
- Consumer theory.
- Producer Theory.
- Perfect competition and monopoly.
- Welfare Theory.
- be able to explain and analyze a utility-maximizing consumer's allocation of income between different applications and from there be able to discuss how changes in prices and income will affect the demand for goods and services.
- be able to explain and analyze a cost-minimizing firms choice of input combinations, and from there (a) be able to explain the cost function for such a firm and (b) be able to discuss how changes in the firm¿s production or in prices of input factors will translate into the firm¿s demand for various inputs.
- be able to explain and analyze the choice of production levels and pricing under perfect competition and where the manufacturer has market power (monopoly).
- be able to explain and analyze the welfare effects of government market interventions.
- use abstract graphical and simple mathematical models.
Lectures, exercise sessions.
Lecture notes, assignments, past years exams.
Pindyck, R.S., D.L. Rubinfeld og T. Synnestvedt: Introduksjon til Mikroøkonomi. Pearson.
ECN102 Introduction to Mathematics for Economists/ MATH100 Introductory Mathematics. It is an advantage but not required to have some background in microeconomics, for instance equivalent to ECN110 Introduction to Microeconomics.
A good background in mathematics will make it easier for students to acquire economic theories. We normally recommend that students take courses in mathematics. ECN110 Introduction to Microeconomics.
The students need to submit and pass 6 out of 9 assignments. The assignments must be submitted in Canvas before deadline and will be approved by a teaching assistant. Approved assignments are valid for two years.
Combined assessment: Portfolio consisting of two one-hour midterm multiple choice exams (40%) and one final written examination, 3 hours (60%). No re-examination is offered.
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Type of course:
Lectures: 4 hours per week for 11 weeks. Exercise sessions: 2 hours per week.
External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
Examination details: Combined assessment: Letter grades