ØSS120 Microeconomics 2

Contents and structure

Contents:

• Advanced theories of consumers and producers
• Basic game theory
• Markets with limited competition
• Markets with asymmetric information
• General equilibrium and international trade

Learning Outcome

On completion of this course students will have:

Knowledge:

• Basic microeconomic theory in accordance with BØA203 Microeconomics 1 or equivalent courses
• Basic concepts of microeconomics and game theory
• Analysing consumer and producer decisions in general, and in particular situasions with asymmetric information and games
• Analysing the perfomance and efficiency of markets with limited competition or asymmetric information
• Analysing international and intertemporal trade by means of general equilibrium models
• Analysing the welfare effects of economic policy

Skills:

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

Competence:

• Able to use abstract models
• Able to collaborate with others in order to solve tasks

Entry requirements

None

Recommended previous knowledge

BØA111 Mathematics for economists or equivalent.

BØA203 Microeconomics 1 or equivalent.

Teaching methods

Lectures. Problem solving.

Compulsory learning activities

In order to take the exam, two written assignments must be approved. Students are obliged to collaborate in groups.

Assessment

4 hour written exam. Grade A - F where F is no pass.

Examination support material

Simple basic calculator of the following type:

- Casio fx-82, Casio fx-85 (all types of both fx-82 and fx-85 are allowed: CW, ES, ES Plus, EX, Solar etc.)

- TI-30Xa, TI-30XIIS, TI-30XS MultiView

- Sharp EL-531TG, Sharp EL-531TH, Sharp EL-531TS

More about examination support material

Course reductions

• ØSS105 - Internasjonal handel - Reduction: 2.5 studypoints
• ØSS111 - Mikroøkonomi II - Reduction: 5 studypoints
• ØSS116 - Vidaregåande mikroøkonomi - Reduction: 6 studypoints