course-details-portlet

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.

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
More on the course

No

Facts

Version: 1
Credits:  7.5 SP
Study level: Foundation courses, level I

Coursework

Term no.: 1
Teaching semester:  SPRING 2025

Language of instruction: English

Location: Trondheim

Subject area(s)
  • Economics
  • Social Sciences
Contact information
Course coordinator:

Department with academic responsibility
Department of Economics

Timetable

List view
Calendar view

Examination

Examination arrangement: School exam

Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
Spring ORD School exam 100/100 C INSPERA
Room Building Number of candidates
  • * 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.
Examination

For more information regarding registration for examination and examination procedures, see "Innsida - Exams"

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