NA0196, Microeconomics II, 15.0 Hp
Print syllabus

Syllabus

Finalized by: Jon Petter Gustafsson, 2022-12-09
Valid from : Spring semester 2024 (2024-01-15)

Level

First cycle (G1F)

Main field of study

Economics

Grading Scale

5 / 4 / 3 / U

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 goal of the course is to develop students’ understanding of microeconomic theory, their ability for microeconomic analysis and their ability to apply microeconomic theory to analyse the behaviour of firms and consumers as well as to analyse markets from a societal perspective.

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

• understand and, using simpler mathematical functions, apply consumer theory to analyse consumer behaviour and demand

• understand and, using simpler mathematical functions, apply production and cost theory to formulate and solve firms’ optimization problems, analyse alternative pricing strategies and how these affect the market, as well as apply basic game theory to analyse strategic behaviour

• understand and apply the basics of duality in microeconomics

• mathematically formulate and, given multiplicative functional forms, solve economic optimisation problems using the Lagrange method.

• use microeconomic theory and mathematical methods to analyse equilibrium, welfare and the effects of public policies.

Content

Subject content:

The course provides a thorough knowledge in microeconomic theory and how the theory can be applied to analyse strategic aspects of firm behaviour as well as to analyse markets from a societal perspective. Besides knowledge in economic theory it is during the course emphasised that the student should learn how to formulate and, with an emphasis on the Lagrange method and multiplicative functional forms, mathematically solve economic optimization problems.

The course starts with a review of consumer behaviour and optimal consumer choice as well as analyses of the individual’s and the market demand. After this, we discuss the optimization problems of firms including optimal production decision and the link between costs and supply. We then discuss the alternative pricing strategies of firms. Furthermore, we analyse market equilibria and welfare effects given different market structures and how different markets and market agents are affected by public policies.

Course implementation:

The course uses different teaching methods to promote students' learning and discussions through: 
Lectures, a project work and exercises.

The course focuses on the following general competences:
Critical thinking, problem solving, scientific methods

The following components are compulsory:
Compulsory exercises

Examination Formats and Requirements for Passing the Course

Passed written exam, approved written presentation of project work, approved participation in compulsory components.

•  If a student has failed an examination, the examiner has the right to issue supplementary assignments. This applies if it is possible and there are grounds to do so.
• The examiner can provide an adapted assessment to students entitled to study support for students with disabilities following a decision by the university. Examiners may also issue an adapted examination or provide an alternative way for the students to take the exam.
• If this syllabus is withdrawn, SLU may introduce transitional provisions for examining students admitted based on this syllabus and who have not yet passed the course.
• For the assessment of an independent project (degree project), the examiner may also allow a student to add supplemental information after the deadline for submission. Read more in the Education Planning and Administration Handbook.

Responsible Department/Equivalent

Department of Economics

Supplementary information

Included in program

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

Module set

Title	Credits	Code
Exam	13.0	0001
Applied optimization	2.0	0002

The Course Replaces

NA0176

Other Information

• The right to participate in teaching and/or supervision only applies for the course instance the student was admitted to and registered on.
• If there are special reasons, students are entitled to participate in components with compulsory attendance when the course is given again. Read more in the Education Planning and Administration Handbook.