ECN110 Microeconomics I - How to Think Like an Economist

Credits (ECTS):5

Course responsible:Mette Wik

Campus / Online:Taught campus Ås

Teaching language:Norsk

Course frequency:Annually

Nominal workload:125 hours

Teaching and exam period:This course starts in Autumn parallel. This course has teaching/evaluation in Autumn parallel.

About this course

The course consists of the following subjects: The behaviour of the consumer. The behaviour of the producer. Different markets with emphasis on perfect competition and monopoly. Welfare theory, especially about market success and failure.

Learning outcome


After the course the students should have basic knowledge of central microeconomic topics such as:

  • Demand
  • Supply
  • Market equilibrium
  • Perfect competition and monopoly
  • Welfare Theory


Students will, after completing the course:

  • be able to explain why demand curves slope downward
  • be able to explain why a supply curve slope upward
  • be able to explain how the interaction between consumers and producers creates a market equilibrium
  • use demand equations, supply equations and general equilibrium theory to explain and analyze how changes in consumers' income, production costs, prices of other goods and other market conditions affect the price and quantity sold
  • be able to mathematically calculate and illustrate graphically market equilibria for central market structures (perfect competition and monopoly)
  • be able to analyze how market interventions affect economic efficiency

General competence:

  • use abstract models
  • The course consists of lectures, exercises and supporting web sites. The purpose of the exercises is to apply the theories presented in the lectures to specific problems, and to activate the students.
  • Tutorials, exercises and website with quiz.
  • Final written in-class examination (2 hours) accounts for 100% of the grade.

  • An external examiner will control the curriculum, the exam and the answer keys. External assessment conducted by professionals from other institutions will help ensure the quality of the academic level.
  • The students need to submit and pass 7 out of 10 assignments. The assignments should be submitted in Canvas within the deadline and will be approved by teaching assistants. In addition, the students must pass 7 out of 10 quizes within the deadline.

    The mandatory activity is valid until the next time the course is given and the ensuing continuation exam.

  • Lectures: 2 hours per week for 12 weeks. Exercises: 2 hours per week in smaller groups.
  • ECN101 Economics for Environment and Development - 3 ECTS
  • Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).