Main Field of Study and progress level:
Economics: Second cycle, has second-cycle course/s as entry requirements
Grading scale: VG Pass with distinction, G Pass, U Fail
Responsible department: Department of Economics
Revised by: Rector of Umeå School of Business and Economics, 2021-10-28
The course focuses on central aspects of microeconomics on an advanced level. One example are how consumer theory can help us to derive demand functions for different goods and how different restriction in the assumption regarding utility- and profit maximization as well as cost minimization puts on the functional form of the demand and supply functions.
The second part of the course will give the students an understanding of how microeconomic theories and concepts can be used for welfare analysis. The course is also discussing decision making under uncertainty.
Expected learning outcomes
After completion of this course, students should be able to: - Conducts advanced analyses on supply and demand on markets for different goods. - Use consumer theory to derive demand functions. - Derive the supply- and demand functions by profit maximization and cost minimization. - Describe and examplify how different assumptions on utility- and profit maximization and cost minimization affects the functional form of the supply function. - Perform advanced welfare analyses and analyze decision making under uncertainty.
90 credits of which 75 credits in economics including 15 credits bachelor courses (G2F). Additionally, Mathematical Economics I D7 or the equivalent. Proficiency in English equivalent to the Swedish upper secondary course English 6.
Form of instruction
The education will be given in the form of lectures.
The examination consists of a written examination in the end of the course.
A second exam opportunity is always offered within a short time span after the regular exam date for those students not achieving a Pass. The subsequent exam opportunity is either the re-take opportunity the week before the fall semester or the next regular exam date. The following grading system will be used: Pass with Distinction (Väl Godkänd) Pass (Godkänd) Fail (Underkänd).
There is normally not possible to make additional examinations to reach a higher grade. Exceptions can be made for a student with the grade Fail on any of the examinations if the examiner (not the lecturer) finds this appropriate. The task must be a minor undertaking, closely related to the learning outcome not reached, and performed in close proximity to the original examination.
When a student has failed an examination on two occasions, he or she has a right to have another grading teacher. A written request for an alternative examiner should be handed to the Dean of the Business School no later than two weeks before the next examination opportunity.
Credit transfer Academic credit transfers are according to the University credit transfer regulations.