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Markets, trade and global challenges 7.5 credits

About the course

This course covers the fundamental theories and concepts of microeconomics, with a focus on how markets and international trade function. The course examines the role of markets in resource allocation and price determination under perfect competition, emphasizing how the market mechanism achieves an effective allocation of resources. It then explores the impact of trade policies and agreements on various stakeholders, including producers, consumers, and governments.

The course also covers market failures and how they can cause global challenges, providing examples of these failures and their effects. Students will learn about taxes, subsidies, and other market interventions and how they can affect market equilibrium and address market failures. During the course the students will use graphical and mathematical tools to analyze microeconomic problems and gain a basic understanding of how to estimate demand.

Throughout the course, students will study microeconomic theories and concepts related to real-world situations and cases. They will discuss policies aimed at addressing global challenges such as sustainability and inequality. Effective communication of economic ideas and arguments, both in writing and orally, is a key part of the course.

The course also covers the limitations of economic models and theories in explaining real-world phenomena, with a particular focus on developing an awareness of social, environmental, and ethical issues associated with trade and markets. By the end of the course, students will have a solid understanding of microeconomic theory and its application to real-world problems, as well as a broader appreciation of the social and ethical implications of economic policies and practices.

 

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  • Autumn 2025

    • Markets, trade and global challenges

      Second admissions round for EU/EEA citizens

      Autumn 2025 / Umeå / English / On site

      Submit a late application

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      Starts

      1 September 2025

      Ends

      2 November 2025

      Number of credits

      7.5 credits

      Type of studies

      On site

      Study pace

      50%

      Teaching hours

      Daytime

      Study location

      Umeå

      Language

      English

      Application code

      UMU-22212

      Selection

      Results-National university aptitude test-Academic credits
      Application

      Application deadline was 15 April 2025. Please note: This second application round is intended only for EU/EEA/Swiss citizens. Submit a late application at Universityadmissions.se.

      Application and tuition fees

      As a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.

      Application fee: SEK 900

      Tuition fee, first instalment: SEK 12,075

      Total fee: SEK 12,075

      Details about tuition, fees and funding

       

How to apply

Apply online via universityadmissions.se  
You apply to our programmes and courses via universityadmissions.se – the official website for higher education applications in Sweden. There, you can track your application, check that your documents have been registered, and log in to find our your admission results. 
  
Late applications 
Admissions to most programmes and courses typically close after the final application deadline. However, some programmes and courses may still accept late applications if seats are available. These are marked “Open for late application” on universityadmissions.se. Please note that late applications are not guaranteed to be reviewed. 
 
More about application and admission 

Explore your future at Umeå University

Join a vibrant academic community where high-quality education meets groundbreaking research in science, technology, humanities, and the arts. At Umeå University, you will learn from passionate, expert teachers and benefit from a close connection between research, education, collaboration, and innovation.

Questions about the course?

Please be aware that the University is a public authority and that what you write here can be included in an official document. Therefore, be careful if you are writing about sensitive or personal matters in this contact form. If you have such an enquiry, please call us instead. All data will be treated in accordance with the General Data Protection Regulation.

Please be aware that the University is a public authority and that what you write here can be included in an official document. Therefore, be careful if you are writing about sensitive or personal matters in this contact form. If you have such an enquiry, please call us instead. All data will be treated in accordance with the General Data Protection Regulation.

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