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Economics and markets IND200

This course provide an introduction to market behavior in a microeconomic perspective. The main focus is on firm behavior and factors than influence production. Demand is also covered with a focus on consumers' behavior, and on the interaction between demand and supply in markets.

Course description for study year 2021-2022. Please note that changes may occur.

Course code




Credits (ECTS)


Semester tution start


Number of semesters


Exam semester


Language of instruction
Learning outcome
The candidate should be able to explain how different factors influence demand and supply of different products and how price changes influence market behavior. The candidate should also be able to conduct fundamental analysis of profitability and behavior in a market.
  • Introduction to microeconomics and organisation theory
  • The firms demand for input factors
  • The effect of price changes on production
  • What determines demand for a product
  • The market
  • How the market structure influence the degree of competition
  • Wage determination
  • International trade
Required prerequisite knowledge
Form of assessment Weight Duration Marks Aid
Written exam 1/1 4 Hours Letter grades Basic calculator specified in general exam regulations

Course teacher(s)
Course teacher: Atle Øglend
Head of Department: Tore Markeset
Method of work
Lectures, 2-4 hours per week
Open for
Biological Chemistry - Biotechnology - Bachelor`s Degree Programme Civil Engineering - Bachelor`s Degree Programme Computer Science- Bachelor's degree programme in computer science Control Engineering and Circuit Design - Bachelor`s Degree Programme Chemistry and Environmental Engineering - Bachelor`s Degree Programme Mechanical Engineering - Bachelor`s Degree Programme Mathematics and Physics - Bachelor's Degree Programme Geosciences Engineering - Bachelor`s Degree Programme Petroleum Technology - Bachelor's Degree Programme City and Regional Planning - Master's Degree Programme Industrial economics - Master's Degree Programme Industrial economics - Master's Degree Programme - 5 year Industrial Automation and Signal Processing - Master's Degree Programme - 5 year Petroleum Engineering - Master`s Degree Programme in Petroleum Engineering, 5 years
Overlapping courses
Course Reduction (SP)
Micro Economics (BØK105) 5
Microeconomics (BØK265) 5
Organization Theory (BIP220) 5
Introduction to economics (IND100) 5
Organization and Management (IND105) 5
Organization, resources and management (BØK225) 5
The syllabus can be found in Leganto