COURSE SYLLABUS

Microeconomics, I 7.5 credits

Nationalekonomi, Resursfördelningsteori
First cycle, N0004N
Version
Course syllabus valid: Autumn 2019 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.

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

Last revised
by Director of Undergraduate Studies Daniel Örtqvist, Department of Business Administration, Technology and Social Sciences 18 Feb 2019

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

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 the courses Introductory Microeconomics (N0008N) and Applied Mathematical Economics (N0005N) or equivalent.


More information about English language requirements


Selection

The selection is based on 1-165 credits.



Course Aim
The student should after completing the course be able to: 
- Describe and evaluate central assumptions within consumption and production theory.
- Derive, mathematically and graphically, both the uncompensated and the compensated demand function, under specific utility functions and a given budget.
- Analyze how demand is affected by changes in any of its determinants.
- Analyze how uncertainty, lack of information and asymmetric information affect demand.
- Derive, mathematically and graphically, the firm’s supply function, under specific production functions and cost structures.
- Analyze how supply is affected by changes in any of its determinants.
- Analyze, by using comparative static, the firm’s pricing in the short and long run both under perfect competition and monopoly, in a partial equilibrium model.
- Analyze, by using comparative static, different welfare economic issues within a general equilibrium model.
- Derive, mathematically and graphically, the supply and demand functions for labor.
- Discuss and critically analyze scientific articles within the area.

Contents
Consumption theory
- Preferences and utility
- Consumer choice
- Income- and substitution effects
- Demand relationships among goods
- Uncertainty, information and asymmetric information
Production theory
- Production functions
- Cost functions
- Profit maximization Markets
- Partial equilibrium on perfectly competitive markets
- Monopoly General equilibrium
-Pricing on labor markets

Realization
The course will consist of lectures and seminars.

Examination
Written exam 6 ECTS and Seminars 1.5 ECTS

Remarks
Students must register for the courses themselves or contact ETS educational administration, eduets@ltu.se 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.

Examiner
Jesper Stage

Transition terms
The course N0004N is equal to IEN319

Literature. Valid from Spring 2019 Sp 3 (May change until 10 weeks before course start)
Nicholson, W. & Snyder, C., Microeconomic Theory: Basic Principles and Extensions. Latest edition.

Scientific articles.

Course offered by
Department of Business Administration, Technology and Social Sciences

Modules
CodeDescriptionGrade scaleHPStatusFrom 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.