AE512317 - Advanced Microeconomics and Alternative Perspectives on Rationality, Welfare and Responsibilities


Examination arrangement

Examination arrangement: Written examination
Grade: Letters

Evaluation form Weighting Duration Examination aids Grade deviation
Written examination 100/100 4 hours D

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.

Learning outcome - 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.

Learning outcome - General competence
- Have acquired a profound understanding of microeconomics, and be able to exercise critical reflection connected to standard microeconomic theory.

Learning methods and activities

Lectures, discussions in groups and in plenary and exercises

Further on evaluation

Supporting material allowed on exams:

Approved calculator of type B

Specific conditions

Admission to a programme of study is required:
Economics and Business Administration (ØAMSC)
Financial Economics (MFINØK)
International Business and Marketing (860MIB)
NTNU School of Entrepreneurship (MIENTRE)

Required previous knowledge

As for the study programme.

Course materials

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

More on the course



Version: 1
Credits:  7.5 SP
Study level: Second degree level


Term no.: 1
Teaching semester:  SPRING 2021

Language of instruction: English

Location: Ålesund

Subject area(s)
  • Economics and Administration
Contact information
Course coordinator:

Department with academic responsibility
Department of International Business



Examination arrangement: Written examination

Term Status code Evaluation form Weighting Examination aids Date Time Digital exam Room *
Autumn UTS Written examination 100/100 D
Room Building Number of candidates
Spring ORD Written examination 100/100 D
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.

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

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