ØSS116 Advanced Microeconomics

Course description for academic year 2020/2021

Due to Covid-19, changes may occur in course descriptions for the autumn semester of 2020. Changes in each course will be published on Studentweb or Canvas. When a course description has been changed there, the description on web is no longer valid. Examples of such changes could be accomplishment of practice, course type, or whether letter grades or passed/not passed will be used as grading scales.

Contents and structure

This course is based on and complements BØA203 Mikroøkonomi (the basic course in Microeconomics). The aim of the course is to provide a thorough understanding of the market economy.

Content

  • Basic game theory
  • Markets with imperfect competition
  • Markets with asymmetric information
  • Factor markets
  • General equilibrium

Learning Outcome

On completion of this course students will have:

Knowledge:

  • Basic microeconomic theory
  • Basic concepts of microeconomics and game theory
  • Analysing and solving non-cooperative games
  • Analysing the perfomance of markets with limited competition
  • Analysing the perfomance of markets with asymmetric information
  • Analysing markets for factor inputs
  • Analysing the interaction between markets by means of general equilibrium theory

Skills:

  • Formulate, illustrate, solve and apply microeconomic, general equilibrium and game-theoretic models
  • Critical reflection on markets and economic events

Competence:

  • On completion of this course students will be able to use abstract models

Entry requirements

None.

Recommended previous knowledge

BØA203 Mikroøkonomi or similar course in Microeconomics.

Teaching methods

Lectures and problem solving.

Course requirements

2 out of 3 written submissions must be approved before taking the exam. Approvals are valid for the five consecutive semesters.

Assessment

5 hour written exam. The exam may be digital. Information regarding time and location is to be found on Studentweb. Grading: A-F

Examination support material

Basic calculator.

More about examination support material

Course reductions

  • ØSS111 (1) - Microeconomics II - Reduction: 3.5 studypoints
  • ØSS101 (1) - Market Structure and Game Theory - Reduction: 3.5 studypoints
  • ØSS105 (1) - International Trade - Reduction: 3.5 studypoints
  • ØSS104 (1) - Market Imperfections and Game Theory - Reduction: 3.5 studypoints