Course code ECN211

ECN211 Intermediate Microeconomics - Institutions, Games and Market Failures

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Showing course contents for the educational year 2017 - 2018 .

Course responsible: Knut Einar Rosendahl
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: NO
(NO=norsk, EN=Engelsk)
Limits of class size:
Teaching exam periods:
This course has teaching/evaluation in Autumn parallel.
Course frequency: Annually
First time: Study year 2007-2008
Preferential right:
Course contents:
1. Introduction: Economics and institutions. 2. Game theory. 3. Monopoly and regulation. 4. Oligopoly. 5. The emergence of competition. 6. Welfare theory. 7. Risk, uncertainty and insurance markets. 8. Behavioural economics. 9. Asymmetric information. 10. Externalities and public goods.
Learning outcome:
The students should be able to: - Understand and solve basic games - Understand and analyse the effects of changes in market structure, like oligopoly and monopoly - Explain conditions for socially optimal solution, and the relation between this and the outcome of different market structures - Explain how limited rationality may affect individual's behaviour in the market - Understand and analyse market effects of uncertainty and asymmetric information - Understand the need for regulation of firm behaviour related to natural monopoly, externalitites and public goods, and analyse the effects of regulation
Learning activities:
Lectures and exercise lessons. 
Teaching support:
Web support. Exercise lessons.
Schotter, A. (2009): Microeconomics. A Modern Approach. First edition. Cengage Learning. Single chapters in some other books.
ECN110 or equivalent course in Microeconomics.
Recommended prerequisites:
Mandatory activity:
Three out of four exercises must be approved. Approved exercises are valid until the next time the course is given.
Written examination, 3,5 hours (100%).
Nominal workload:
300 hours
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Reduction of credits:
Type of course:
Lectures: 4 hours per week. Exercises: 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.
Allowed examination aids: B1 Calculator handed out, no other aids
Examination details: One written exam: A - E / Ikke bestått