Course - Markets and Market Failures - SØK1024
SØK1024 - Markets and Market Failures
About
New from the academic year 2024/2025
Examination arrangement
Examination arrangement: School exam
Grade: Letter grades
Evaluation | Weighting | Duration | Grade deviation | Examination aids |
---|---|---|---|---|
School exam | 100/100 | 3 hours | C |
Course content
This course provides further analyses of microeconomic concepts and problems. The course analyses different market structures, and gives an introduction to game theory with applications to industrial organization. It also provides an introduction to the theory of microeconomic efficiency, including analyses of different forms of market failures.
Learning outcome
Knowledge
You learn
- definitions of key concepts in market economics, welfare theory, industrial economics and game theory
- the conditions under which an unregulated market economy is efficient
- economic consequences of market power, public goods and external effects, and how economic policy can be used to improve the functioning of the markets
- how game theory can be applied to analyze markets with competition between few firms
Skills
You should be able to
- be able to explain different forms of market competition, economic efficiency, externalities, and public goods
- analyze price formation in markets with different forms of competition, and evaluate the extent to which the price formation contributes to economic efficiency
- explain how market failures can be corrected through economic policies
- analyze specific issues using graphical and mathematical analysis
General competence
You should be able to
- follow economic reasoning related to the course in the public debate and professional reports
Learning methods and activities
2 hours of lectures every week and 2 hours of practical assignment every other week. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.
Compulsory assignments
- Mandatory activity
Further on evaluation
Compulsory activity must be completed in the semester the course is taught. The approval also applies to later semesters.
Approved compulsory activity from SØK1011 Markets and Market failures also applies to this course.
Recommended previous knowledge
None
Required previous knowledge
None
Course materials
Announced at the beginning of the term
Credit reductions
Course code | Reduction | From | To |
---|---|---|---|
SØK1011 | 7.5 | AUTUMN 2024 |
No
Version: 1
Credits:
7.5 SP
Study level: Foundation courses, level I
Term no.: 1
Teaching semester: SPRING 2025
Language of instruction: English
Location: Trondheim
- Economics
- Social Sciences
Examination
Examination arrangement: School exam
- Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
- Spring ORD School exam 100/100 C 2025-05-23 09:00 INSPERA
-
Room Building Number of candidates SL310 turkis sone Sluppenvegen 14 22 SL310 blå sone Sluppenvegen 14 48 SL310 hvit sone Sluppenvegen 14 19 SL311 orange sone Sluppenvegen 14 65 SL311 lyseblå sone Sluppenvegen 14 96
- * The location (room) for a written examination is published 3 days before examination date. If more than one room is listed, you will find your room at Studentweb.
For more information regarding registration for examination and examination procedures, see "Innsida - Exams"