Economics, Intermediate Course, 30 credits

Learning outcomes

On successful completion of the course, students are expected to

• demonstrate deeper knowledge and understanding of micro- and macroeconomic theory
• demonstrate ability to analyze and critically discuss economic questions based on relevant theoretical models
• demonstrate ability to discuss fundamental aspects of the significance of economic theory.

Content

Strategic Decisions, 7,5 Credits

• Constrained optimization within consumption and production theory, given different specifications of the utility function and the production function
• Derivation of demand functions, indirect utility functions, expenditure functions and cost functions
• Modelling of different attitudes towards risk in connection with decisions under uncertainty
• Introduction to game theory, different ways in which to model decisions under interdependency and applications of game theory on monopoly and duopoly markets
• Introduction to general equilibrium
• Introduction to voting theory
• Introduction to auction theory.

Health Economics (fall semester), 7,5 Credits

• Economic perspectives on health and healthcare
• Production of health
• The health insurance
• Health inequalities
• Ethical issues
• Economic evaluation

Macroeconomics, 7,5 Credits

• Production, prices and interest rate
• Intertemporal substitution
• Wage setting and unemployment, the Phillips curve
• IS-LM model
• Monetary policy
• Fiscal policy
• The open economy – the Mundell-Fleming model

Economic Growth and Income Distribution, 7,5 Credits

• Economic growth – facts
• The basic and extended Solow growth model
• Endogenous growth
• Population, income distribution and economic growth
• Natural resources and economic growth

Environmental Economics (spring semester), 7,5 Credits

• Efficiency and ethical aspects of environmental economics analysis
• Market failure, such as public goods and services, external effects and issues related to property rights
• Valuation of environmental goods and services
• Sustainable development, growth and the environment
• Economic theory and policy related to global, regional and local environmental problems
• The economics of climate policy

Examinations and grades

Strategic Decisions

Strategic Decisions, Written Examination, 7.5 credits (Code: C001)
Grades used are Fail (U), Pass (G) or Pass with Distinction (VG).

Health Economics (fall semester)

Health Economics, Written Examination, 7.5 credits (Code: D001)
Grades used are Fail (U), Pass (G) or Pass with Distinction (VG).

Health Economics, Survey Computer Lab Sessions (Code: D002)
Grades used are Participated (DT).

Macroeconomics

Macroeconomics, Written Examination, 6 credits (Code: A001)
Grades used are Fail (U), Pass (G) or Pass with Distinction (VG).

Macroeconomics, Assignment, 1.5 credits (Code: A002)
Grades used are Fail (U) or Pass (G).

Economic Growth and Income Distribution

Economic Growth and Income Distribution, Written Examination, 5 credits (Code: B001)
Grades used are Fail (U), Pass (G) or Pass with Distinction (VG).

Economic Growth and Income Distribution, Assignment, 2.5 credits (Code: B002)
Grades used are Fail (U) or Pass (G).

Environmental Economics (spring semester)

Environmental Economics, Written Examination, 7.5 credits (Code: E001)
Grades used are Fail (U), Pass (G) or Pass with Distinction (VG).

According to the Higher Education Ordinance, Chapter 6, Section 18, a grade is to be awarded on the completion of a course, unless otherwise prescribed by the university. The university may determine which grading system is to be used. The grade must be determined by a teacher specifically nominated by the university (the examiner).

In accordance with university regulations on grading systems for first and second-cycle courses and study programmes (Vice-Chancellor’s decision ORU 2018/00929), one of the following grades is to be used: fail (U), pass (G) or pass with distinction (VG). For courses included in an international master’s programme (60 or 120 credits) or offered to the university’s incoming exchange students, the A to F grading scale is to be used. The vice-chancellor, or a person appointed by them, may decide on exceptions from this provision for a specific course, if there are special grounds for doing so.

The grades used on this course are Fail (U), Pass (G) or Pass with Distinction (VG).

Comments on grades

To obtain the final grade Pass (G), the student must receive the grade Pass (G) on all examinations as well as Participated (DT) in Survey computer lab sessions if the course is taken during the fall semester. To obtain the final grade Pass with Distinction (VG), the student must in addition, receive the grade Pass with Distinction on examinations that sum to at least 18,5 credits.

Modes of assessment

Strategic Decisions
Written Examination, 7.5 credits (Code: C001)

Health Economics (fall semester)
Written Examination, 7.5 credits (Code: D001)
Survey Computer Lab Sessions (Code: D002)

Macroeconomics
Written Examination, 6 credits (Code: A001)
Written Assignment, 1.5 credits (Code: A002)

Any supplementary work required to fulfill the standards for the grade Pass (G) (code A002) must be completed as instructed by the instructor.

Economic Growth and Income Distribution
Written Examination, 5 credits (Code: B001)
Written Assignment, 2.5 credits (Code: B002)

Any supplementary work required to fulfill the standards for the grade Pass (G) (code B002) must be completed as instructed by the instructor.

Environmental Economics (spring semester)
Written Examination, 7.5 credits (Code: E001)

For students with a documented disability, the university may approve applications for adapted or other modes of assessment.

For further information, see the university's local examination regulations.

Specific entry requirements

Successful completion of at least 22.5 credits on the course Economics, Basic Course, 30 Credits, including Microeconomics, 7.5 credits and Macroeconomics, 7.5 credits.
12 credits on the course Basic Statistics, 15 credits and 3 credits on the course Data Mining and Business Analytics, Basic Course
alternatively
12 credits on the course Basic Statistics, 15 Credits and 1.5 credits on the course Statistics, Regression Analysis, Basic Course, 7.5 Credits.

For further information, see the university's admission regulations.

Other provisions

The course will be given in English fall semester and in Swedish spring semester.

Reexamination
The spring semester reexamination will take place in August and thus replaces the additional reexam.

Students who have been admitted to and registered on a course have the right to receive tuition and/or supervision for the duration of the time period specified for the particular course to which they were accepted (see, the university's admission regulations (in Swedish)). After that, the right to receive tuition and/or supervision expires.

Reading list and other learning resources

Additions and Comments

Articles and other required materials (max 700 pages).

Strategic Decisions, 7,5 Credits

Required Reading

Perloff, Jeffrey M. (latest edition)
Microeconomics, Theory and Applications with Calculus
Fifth edition, Global Edition, Pearson

Health Economics (fall semester), 7,5 Credits

Required Reading

Morris Stephen, Nancy Devlin, David Parkin & Anne Spencer (latest edition)
Economic Analysis in Health Care
John Wiley & Sons, 400 sidor

Macroeconomics, 7,5 Credits

Required Reading

Gottfries, Nils (latest edition)
Macroeconomics
London: Palgrave Macmillan

Economic Growth and Income Distribution, 7,5 Credits

Required Reading

Jones, Charles & Dietrich Vollrath (latest edition)
Introduction to Economic Growth
W.W Norton & Company Inc., 500 Fifth Avenue New York

Environmental Economics (spring semester), 7,5 Credits

Required Reading

Brännlund, Runar & Bengt Kriström (latest edition)
Miljöekonomi
Studentlitteratur