The course is included in these curricula and study modules


Professional studies

Teaching language


Type of course


Recommended year of study


Total number of ECTS

5 cr

Competency aims

Microeconomics is concerned with specific economic units
(individual industry, firms or households) and a detailed
considerations of these individual units. The focus is on the
price of a specific product, the revenue and expenditures of a
single firm etc. In the latter part of the course some important
issues from macroeconomics are examined.

Learning outcomes

At the end of the course the student should have obtained
basic understanding the economics of business enterprises
and be able to use some of the basic analytical tools to make
simple economic analysis.

Course contents

- Tools of Economic Analysis
- Introduction to Economics
- Elasticities of Demand and Supply
- Consumer Choice
- Costs and Supply
- Perfect Competition and Monopoly
- Labour Markets
- Factor Markets

Prerequisites and co-requisites


Previous course names


Additional information

Attendance at at least 70% of the lectures required. More
information will be given in class about assignments.

Recommended or required reading

D. Begg & R. Dornbusch & S. Fischer (2011).
Economics. Eigth Edition. McGraw - Hill

Study activities

  • Lectures - 45 hours
  • Individual- and group instruction - 10 hours
  • Practical exercises - 17 hours
  • Individual studies - 58 hours


  • Total workload of the course: 130 hours
  • Of which autonomous studies: 130 hours
  • Of which scheduled studies: 0 hours

Mode of Delivery

Participation in tuition

Assessment methods

  • Exams (written-, oral-, home-)

Assessment requirements

There will be a final examination which must be passed with
the grade 55/100.


Eldon Sveinn


Eldon Sveinn

Home page of the course


Group size

No limit

Assignments valid until

12 months after course has ended

The timetable of the course

Will be given during the first lecture

Assessment methods

  • 2012-10-24 - Exams
  • 2012-10-24 - Other assignments

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