Microeconomic Theory

This is a 7.5 credits intermediate course in Economics within the first-cycle level.

The course can be part of the following programmes: 1) European Studies Program (S1EUR), 2) Program in Environmental Social Science (S1SMI), 3) Bachelor's Programme in Business and Economics (S1EKA) and 4) Program in Political Science (S1STV)

Admission to the course requires previous knowledge of "Economics: Introductory level, 30 ECTS" or equivalent, of which at least 15 ECTS (including microeconomics 7.5 ECTS) must be completed.

The course aims to provide in depth knowledge in microeconomic theory. The theory of individual consumer and producer behaviour and how these theories is deepened. Deviations from the model of perfect competition are being studied. The theories are partly explained using abstract symbols and in a more mathematical way than in the introductory course. Therefore, the course also contains some pure math lectures that are examined seprarately.

A course in microeconomics is a good starting point to other more specialized courses such as financial economics, public economics or environmental economics, which in turn can lead to a project paper in which theories and statistical methods are used.

On successful completion of the course the student will be able to:

1. describe and understand key concepts, definitions and results in several areas, such as for example the individual's choice of consumption and labor supply; firm's production choices as well as demand for labor given different market conditions.

2. analyse microeconomic problems related to learning outcome 1, algebraically , in writing and graphically.

The content of the course is presented mainly at lectures and in group exercises.

A large part of the knowledge acquisition on the course is done through own work by the student.

Language of instruction: English

All learning outcomes are examined by a written examination. The separate math exam is compulsory, but not decisive for the final grade.

In connection with written assignments, the course coordinator or teacher may conduct a follow-up oral conversation with the student. The conversation serves as an assessment support for the written assignment. The purpose of the conversation is to ensure that the learning objectives of the assignment are met and that the text, ideas, and/or analysis are the student’s own work.

If a student, who has failed the same examined element on two occasions, wishes to change examiner before the next examination session, such a request is to be submitted to the department in writing and granted unless there are special reasons to the contrary (Chapter 6, Section 22 of Higher Education Ordinance).

In the event that a course has ceased or undergone major changes, students are to be guaranteed at least three examination sessions (including the ordinary examination session) over a period of at least one year, though at most two years after the course has ceased/been changed. The same applies to work experience and VFU, although this is restricted to just one additional examination session.

The grading scale comprises: Excellent (A), Very good (B), Good (C), Satisfactory (D), Sufficient (E) and Fail (F).

Course evaluation is done digitally and anonymously at the end of the course.

The survey material is compiled and the results from the course evaluation and proposals for possible improvement measures are discussed at the course committee meeting. After the course evaluation is completed, the result will be published at the course homepage.

If a change of course is done based on the course evaluation, this will be communicated at the course introduction for the upcoming student group.

1. Transitional rules: The course replaces the sub-course "Microeconomics Theory" within the course block "Economics: Intermediate level, 30hp" (NEG200)

2. Limitations: The course may not be included in the same degree as the sub-course "Microeconomics Theory, 7.5 ECTS", which is part of NEG200 and NE0200, as well as HNE265.