Learning Outcomes
On completion of the course, students will be able to:
- explain and calculate opportunity costs as a basis for decision-making
- explain how the individual’s consumption choices depend on the prices of the goods as well as the individual’s income and preferences
- explain how companies’ production choices to maximise profit depend on the prices of the goods and the company’s costs in different market structures
- derive the demand curve for factors of production
- carry out a simple economic analysis of the outcome in a market when there are exogenous effects or when regulations and taxes are introduced, as well as when there is market failure.
Course Content
The course introduces the concepts and methods used to conduct a microeconomic analysis. The starting point is scarcity – that there are limited resources – and that society therefore needs to choose how the resources are to be distributed. The course consists of two modules. In the first module, the concepts and theories that form the basis of microeconomic models are introduced, first and foremost the supply and demand model. In the second module, models are applied to analyse markets in perfect competition, monopoly, oligopoly and when there are market failures.
Assessment
- Test
- Written exam
Grades
The grading scale used for the final course grade is U–VG.
To receive VG on the course, students must receiva a VG in module 2.
Grades are reported as follows:
- Theory and concepts - 1.5 Credits | U–G
- Economic analyses - 6 Credits | U–VG
Entry Requirements
- General entry requirements and Mathematics 3b or 3c or Mathematics C, Social Sciences 1b or 1a1+1a2, English 6. Or: Mathematics Further level 1b or Mathematics Further level 1c, Social Sciences level 1b or level 1a1 + 1a, English level 2
Other Information
Overlaps GNA3B7
Overlaps NA1035
This course cannot be counted towards the same degree along with courses that have equivalent content.
If the student has received a decision/recommendation granting study support from Dalarna University because of a disability, then the examiner has the right to offer an alternative examination arrangement. The examiner takes into account the objectives in the course syllabus when deciding whether the examination can be adapted in accordance with the decision/recommendation.