Economics
2008-2009 - SMF2161 - 15 ECTS

On the basis of

REA1131

Expected learning outcomes

Microeconomics

The purpose is to train students in the systematic analysis of consumer and firm behaviour in various market situations. The course also analyzes the efficiency of resource use given different market forms (perfect competition, monopoly, oligopoly).

Macroeconomics

The purpose is to explain the most important concepts and relationships in the income and product accounts (national accounts). The course is also giving an introduction to theories of economic growth, macroeconomics fluctuations(business cycles) and explaining how fiscal and monetary policies affect the macroeconomy.

Topic(s)

Microeconomics
- Demand, supply and market equilibrium
- Consumer behavior with budget constraint and consumer preferences, effects of changes in price and income levels, emand functions and elasticities
-Firm behavior with production theory, the optimal use of input factors and the the cost of production
- Market theory with perfect competition, monopoly and oligopoly

Macroeconomics
- National accounts and macroeconomics data
- Foundation of long-run economic growth
- Structural unemployment, price and wage formations
- Business cycles, aggregate demand and fiscal policy in the short run
- Inflation and monetary policy: Inflation targeting by the Central Bank

Teaching Methods

Lectures
Mandatory assignments

Form(s) of Assessment

Written exam, 5 hours

Grading Scale

Alphabetical Scale, A(best) – F (fail)

External/internal examiner

Two internal examiners

Re-sit examination

Ordinary re-sit examination

Coursework Requirements

Exercises
Details concerning course requirements will be presented at the beginning of the semester.

Teaching Materials

Obligatorisk

Pindyck & Rubinfeld: Microeconomics, siste utgave, kap. 1-4, 6-11 (utvalgte deler), Prentice Hall.

Anders Dedekam jr.: Makroøkonomi siste utgave (utvalgte deler). Fagbokforlaget

Anbefalt

Ringstad,Vidar: Samfunnsøkonomi og økonomisk politikk (siste utgave), Oslo. Cappelen Akademiske Forlag.

Ivar Bredesen og Anders Dedekam jr. : Hjelper til Makroøkonomi, Fagbokforlaget.

St. melding nr. 1 (2008-2009). Nasjonalbudsjettet 2009. Oslo:Finans-og tolldepartementet. (kommer i oktober 2008)