Knowledge outcomes: The students must be acquainted with the basics of microeconomic analysis, that is, the main results in production and consumer theory. Moreover, the student shall learn the basic concepts and results of monopoly power, externalities and public goods. Finally, the student is expected to learn the basic concepts and results of the economics of information, including the concept of moral hazard and adverse selection.
Skills: The students should be able to formulate and solve simple economic problems involving consumers and producers and the interaction between them.
General competance: Students should be able to identify the resource restrictions embedded in all economic decisions
Consumer and production theory
Required prerequisite knowledge
BØK104 Statistics and social science methodology, BØK135 Mathematical analysis for economy and social science