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 2025-2026

See course description and exam/assesment information for this semester (2024-2025)
Facts

Course code

IND200

Version

1

Credits (ECTS)

10

Semester tution start

Autumn

Number of semesters

1

Exam semester

Autumn

Language of instruction

Norwegian

Offered by
Time table

View course schedule

Admission requirements

General university admissions certification (GSK)

Content

  • 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

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.

Content:

  • Demand and supply

  • Production theory

  • Competition and market structures

  • Public goods and externalities

  • Labour markets and inequality

  • International trade

  • Behavioral economics

Learning outcome:

Knowledge:

  • Master basic concepts of consumer and production theory that underly demand and supply models.

  • Be familiar with the different considerations involved in analysis of demand, supply, and market structure.

  • Be familiar with differences neoclassic and behavioral economics approach in modelling economic behaviour.

  • Be familiar with key concepts in public goods, externalities, taxation, international trade, and labour markets.

Skills:

  • The candidate is able to apply the logic of supply and demand models.

  • The candidate is able to apply marginal analysis on a range of different economic applications

  • The candidate is able to distinguish between fixed and variable costs, short and long run.

  • The candidate is able to classify market structures based on key characteristics

  • The candidate is able to classify public goods and externalities.

General competence:

  • The student is capable of applying the knowledge gained in the course to undertake a rudimentary fundamental analysis of markets.

  • The student is able to communicate and report the fundamental characteristics of a market.

Required prerequisite knowledge

None

Exam

Form of assessment Weight Duration Marks Aid
Written exam 1/1 4 Hours Letter grades Valid calculator 1)

1) Approved, simple calculator.


Digital exam.

Course teacher(s)

Course coordinator:

Ruth Beatriz Pincinato

Course teacher:

Atle Øglend

Course teacher:

Sigbjørn Landazuri Tveteraas

Head of Department:

Tore Markeset

Method of work

Lectures and self-study, 2-4 hours per week

Overlapping courses

Course Reduction (SP)
Micro Economics (BØK105_1) 5
Microeconomics (BØK265_1) 5
Organization Theory (BIP220_1) 5
Introduction to economics (IND100_1) 5
Organization and Management (IND105_1) 5
Organization, resources and management (BØK225_1) 5

Open for

Open course for all students with an active right to study and who meet the requirements for general university admissions certification (GSK).

Admission requirements

General university admissions certification (GSK).

Course assessment

The faculty decides whether early dialogue should be conducted in all or selected groups of courses offered by the faculty. The purpose is to gather feedback from students for making changes and adjustments to the course during the current semester. In addition, a digital evaluation, students’ course evaluation, must be conducted at least once every three years. Its purpose is to collect students` experiences with the course.

Literature

The syllabus can be found in Leganto