course-details-portlet

SØK1011 - Markets and Market Failures

About

Examination arrangement

Examination arrangement: School exam
Grade: Letter grades

Evaluation Weighting Duration Grade deviation Examination aids
School exam 100/100 5 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 organization and game theory
  • the conditions under which an unregulated market economy is efficient
  • economic consequences of market power and environmental pollution
  • how competition policies and environmental policies can improve the functioning of the economy
  • how game theory can be applied to analyze markets with competition between few firms

Skills

You should

  • 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
  • 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 Competense

You should be able to

  • follow economic reasoning related to the course in the public debate and professional reports

Learning methods and activities

4 hours of lectures per week and 2 hours of exercise every other week during the teaching period. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.

Compulsory assignments

  • Approved term paper(s)/exercise(s)

Required previous knowledge

None

Course materials

Announced at the beginning of the term.

Credit reductions

Course code Reduction From To
SØK2001 7.5 AUTUMN 2011
SØK2004 7.5 AUTUMN 2011
More on the course

No

Facts

Version: 1
Credits:  15.0 SP
Study level: Foundation courses, level I

Coursework

Term no.: 1
Teaching semester:  SPRING 2024

Language of instruction: Norwegian

Location: Trondheim

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

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 *
Autumn ORD School exam 100/100 C 2023-11-24 09:00 INSPERA
Room Building Number of candidates
SL274 Sluppenvegen 14 1
SL310 lilla sone Sluppenvegen 14 28
Spring ORD School exam 100/100 C 2024-05-24 09:00 INSPERA
Room Building Number of candidates
SL311 orange sone Sluppenvegen 14 33
SL311 brun sone Sluppenvegen 14 79
SL311 lyseblå sone Sluppenvegen 14 96
SL311 grønn sone Sluppenvegen 14 68
  • * 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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