Course content

Course content

• Optimization
• Consumer theory and utility maximization
• Producer theory and profit maximization
• Market theory and equilibrium
• Findings from modern research of life satisfaction and happiness
• Welfare-theoretical foundations and assumptions
• Value of natural resources and circular economics
• Economic and communicative rationality
• Economic choices, markets and moral norms

Learning outcome

Learning outcome

Knowledge:

• Master the terminology of the subject
• Have comprehensive knowledge of the most common optimization techniques used in microeconomics
• Have comprehensive knowledge of standard microeconomic theory
• Understand the concept of economic rationality as one of several types of rationality

Skills:

• Be able to apply mathematical methods on microeconomic theory
• Be able to read and understand microeconomic research articles
• Be able to apply microeconomic concepts and methods on topics/areas not covered in this course
• Be able to conduct critical analyses of economic models and their underlying assumptions

General competence:

• Have acquired a profound understanding of microeconomics, and be able to exercise critical reflection connected to standard microeconomic theory.

Further on evaluation

Supporting material allowed on exams:

All course material including textbook and exercises.

Resit exam:

Evaluation form may changed to oral exam depending on the number of candidates.

Specific conditions

Course materials

Walter Nicholson and Christopher Snyder: Microeconomic Theory, Basic Principles and Extensions. Cengage Learning. Additional material provided in class.