Economics, Strategic Decisions, Intermediate Course, 7.5 credits

Aims and objectives

General aims for first cycle education

First-cycle courses and study programmes shall develop:

• the ability of students to make independent and critical assessments
• the ability of students to identify, formulate and solve problems autonomously, and
• the preparedness of students to deal with changes in working life.

In addition to knowledge and skills in their field of study, students shall develop the ability to:

• gather and interpret information at a scholarly level
• stay abreast of the development of knowledge, and
• communicate their knowledge to others, including those who lack specialist knowledge in the field.

(Higher Education Act, Chapter 1, Section 8)

Course objectives

On successful completion of the course, students are expected to demonstrate deeper knowledge and understanding of micro theory.

Main content of the course

• 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.

Teaching methods

The teaching takes the form of lectures.

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.

Examination methods

Strategic Decisions, 7.5 credits (Code: C001)
Individual written examination.

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

For further information, see the university's local examination regulations (in Swedish).

Grades

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 prescribe which grading system shall apply. The grade is to be determined by a teacher specifically appointed by the university (an examiner).

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

Grades used on course are Fail (F), Sufficient (E), Satisfactory (D), Good (C), Very Good (B) or Excellent (A).

Strategic Decisions
Grades used are Fail (F), Sufficient (E), Satisfactory (D), Good (C), Very Good (B) or Excellent (A).

For further information, see the university's local examination regulations (in Swedish).

Comments on grades

To obtain a passing grade for the course as a whole, a minimum of grade E is required for the written examination. The course grade is then awarded based on the written examination.

Specific entry requirements

Successful completion of at least 18.5 credits on the course Economics, Basic Course, 30 Credits, 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 (in Swedish).

Transfer of credits for previous studies

Students who have previously completed higher education or other activities are, in accordance with the Higher Education Ordinance, entitled to have these credited towards the current programme, providing that the previous studies or activities meet certain criteria.

For further information, see the university's local credit transfer regulations (in Swedish).

Other provisions

The course will be given in English.

Reading list and other teaching materials

Required Reading

Varian, H.R. (latest edition)
Intermediate Microeconomics with Calculus
W.W. Norton & Company