Economics (starting Spring 2003)
Contents The aim of this course is to give students a basic knowledge of both micro-economics and macro-economics. Various aspects of economic theory is presented in order to enable the students to analyse economic problems.
I Micro-economics:
1. Introduction and primer in mathematics
2. Preferences and consumption
3. Technology and production
4. Partial equilibrium
5. Choice under uncertainty
6. Game theory and oligopoly
7. Monopoly
8. General equilibrium and welfare
9. Market failure and 2nd best
II Macro-economics:
1. National income accounting
2. Aggregate supply and demand
3. Economic growth
4. Inflation and unemployment
5. Income, consumption and investment
6. Interest, monetary and fiscal policies
7. Current account and exchange rate
8. Theories of consumption and investment
9. Financial markets
Text-books Olivier Blanchard (2000), Macroeconomics. Second Edition, Prentice Hall International, Inc.
Torben M. Andersen, Bent Dalum, Hans Linderoth, Valdemar Smith og Niels Westergaard-Nielsen (2001), The Danish Economy. An International Perspective. DJØF Publishing, Copenhagen.
Andrew Schotter (2000), Microeconomics, A modern Approach, 3rd Edition, Addison Wesley Longman.
Evaluation After the first semester there is a four hour open-book written exam in micro-economics, summer 2003. A prerequisite for admission to the exam is the approval of a compulsory semester paper.
At the end of the micro-economics lectures after the third quarter, a compulsory paper must be handed in.
After the last quarter, an oral exam is held in macro-economics. A prerequisite for admission to the exam is the approval of a compulsory semester paper.
ECTS-credits 30.
Quarter Spring 2003 + fall 2003 + spring 2004.