ECN211 Intermediate Microeconomics - Institutions, Games and Market Failures
Showing course contents for the educational year 2020 - 2021 .
Course responsible: Knut Einar Rosendahl
Teachers: Mari Olsen Mamre, Audun Hoemsnes Moss
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: NO
Teaching exam periods:
This course has teaching/evaluation in Autumn parallel.
Course frequency: Annually
First time: Study year 2007-2008
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. 11. Public goods.
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.
Lectures, exercise lessons and annual guest lecture from the Competition Authorities.
Web support. Exercise lessons.
Information will provided at the start of the semester.
ECN110 Introduction to Microeconomics or equivalent, ECN102 Introduction to mathematics or equivalent
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%)
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
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: Written exam: A - E / F