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Microeconomics, I 7.5 credits

Nationalekonomi, Resursfördelningsteori
First cycle, N0004N
Course syllabus valid: Autumn 2022 Sp 1 - Present
The version indicates the term and period for which this course syllabus is valid. The most recent version of the course syllabus is shown first.

Education level
First cycle
Grade scale
U G VG *
Subject group (SCB)
Main field of study

Entry requirements

In order to meet the general entry requirements for first cycle studies you must have successfully completed upper secondary education and documented skills in English language and completed courses of at least 60 credits in Economics with at least the grade Pass. The following courses should be included: Introductory Microeconomics (N0008N) 7,5 credits, Microeconomic applications (N0040N) 7,5 credits and Applied mathematical economics (N0005N) 7,5 credits, or equivalent. Good knowledge in English, equivalent to English 6.

More information about English language requirements


The selection is based on 1-165 credits.

Course Aim
The student should after completing the course be able to: 

Knowledge and understanding
• Describe central assumptions within consumption and production theory.
• Analyze how demand is affected by changes in any of its determinants.
• Analyze how supply is affected by changes in any of its determinants. 
• Analyze, by using comparative statics, the firm’s pricing in the short and long run both under different competition situations, including perfect competition and monopoly, in a partial equilibrium model. 
• Analyze, by using comparative statics, different welfare economic issues within a general equilibrium model.

Skills and abilities
• Derive, mathematically and graphically, both the uncompensated and the compensated demand function, under specific utility functions and a given budget.
• Derive, mathematically and graphically, the firm’s supply function under perfect competition, under specific production functions and cost structures.
• Derive, mathematically and graphically, the firm’s supply function under monopoly and selected other examples of imperfect competition, under specific production functions and cost structures.
• Derive, mathematically and graphically, the supply and demand functions for labor.

• Evaluate and discuss central assumptions within consumption and production theory.
• Discuss and critically analyze scientific articles within the area. 

The following areas are addressed:  

Consumption theory 
• Preferences and utility 
• Consumer choice 
• Income and substitution effects 
• Demand relationships among goods 

Production theory 
• Production functions 
• Cost functions 
• Profit maximization 

• Partial equilibrium in perfectly competitive markets 
• Monopoly 
• Imperfect competition
• General equilibrium 
• Pricing in labor markets 

Each course occasion´s language and form is stated and appear on the course page on Luleå University of Technology's website.
The course will consist of lectures and seminars.

If there is a decision on special educational support, in accordance with the Guideline Student's rights and obligations at Luleå University of Technology, an adapted or alternative form of examination can be provided.
The course is examined through a written exam, corresponding to 6 credits. On the exam, the grade VG, G or U is given. Furthermore, seminars corresponding to 1.5 credits are conducted, where scientific articles are treated. At the seminars, the grade G or U is given. The grade on the written exam determines the final grade on the course. On the course, the grades are failed, passed and passed with distinction.

Students must register for the courses themselves or contact ETKS educational administration, not later than three days after the quarter commences. Failure to do so can result in the place being lost. This rule also applies to students with a guaranteed place.

Transition terms
Note that this course can not be included in any degree in combination with N7005N Microeconomics II.

Jesper Stage

Transition terms
The course N0004N is equal to IEN319

Literature. Valid from Spring 2019 Sp 3
Nicholson, W. & Snyder, C., Microeconomic Theory: Basic Principles and Extensions. Latest edition.

Scientific articles.

Course offered by
Department of Social Sciences, Technology and Arts

CodeDescriptionGrade scaleCrStatusFrom periodTitle
0002Written examU G VG *6.00MandatoryS10
0004SeminarsU G#1.50MandatoryA10

Study guidance
Study guidance for the course is to be found in our learning platform Canvas before the course starts. Students applying for single subject courses get more information in the Welcome letter. You will find the learning platform via My LTU.

Syllabus established
by Department of Business Administration and Social Sciences 28 Feb 2007

Last revised
by Director of Undergraduate Studies Daniel Örtqvist, Department of Social Sciences, Technology and Arts 11 Feb 2022