NA0182, Microeconomics I with mathematics, 15.0 Hp
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Syllabus

Valid from : Autumn semester 2024 (2024-09-02)

Level

First cycle (G1N)

Main field of study

Economics

Grading Scale

The grade requirements within the course grading system are set out in specific criteria. These criteria must be available by the course start at the latest.

Course language

Swedish

Entry Requirements

Objectives

The course aims at introducing basic microeconomic theory, as well as provide the students with mathematical tools for economic analysis.

After successful completion of the course, students will be able to:

• Describe and apply the mathematical functions that are most common in the economics sciences.
• Calculate derivatives as well as use and understand derivative methods to solve problems in economics, such as optimization.
• Use basic multivariate analysis.
• Use elementary algebra.
• Describe the microeconomic basic and fundamental assumptions, questions, theories and models.
• Verbally and graphically explain how consumers and firms behave in different types of markets, as well as how welfare is shared between actors in different types of markets, starting with the competitive market.
• Describe the meaning of different market failures such as collective goods, external effects and asymmetric information and why these failures arise.
• Use microeconomic theory to solve basic economic problems.

Content

The course is conducted in the form of lectures and exercises, as well as a compulsory seminar.

The course consists of the following elements:

Mathematics;

• Elemantary algebra
• Linear and nonlinear function
• Derivatives, basic and partial derivatives with applications, including optimization.
• Basic logarithms and integrals

Microeconomics;

• Basic consumer and producer theory
• Review of different types of markets, such as perfect competition, monopoly, monopolistic competition
• Basic welfare analysis for different types of markets, as well as analysis of the distribution of welfare when policy influences the market
• Market failures – why do market failures arise and how can we deal with the resulting problems?
• Game theory
• Risk and individuals’ relationship to risk management
• General equilibrium analysis where several markets are in long run equilibrium

Examination Formats and Requirements for Passing the Course

Passed exam. Participation in a compulsory seminar.

Responsible Department/Equivalent

Department of Economics

Supplementary information

Included in program

• Politices kandidat - hållbar utveckling
• Forest Business Management (BSc)
• Business and Economics - Sustainable Development (BSc)
• Agricultural Science with a Specialisation in Economics and Business Administration
• Agricultural Business and Economics

Module set

Title	Credits	Code
Mathematics	5.0	0102
Microeconomics	10.0	0103

The Course Replaces

NA0174