Knowledge

The student...

has knowledge about the mechanisms of market economy, historical development of a market economy, and the close relationship between the growth of the market and other key institutions such as the State and civil society
has knowledge about various constructions i.e. the "minimalistic state", the modern welfare state, as well as alternatives to market economy such as command economy and variations within, such as the sharing economy.
has knowledge of economic theory from the like of Adam Smith and Karl Marx
has knowledge about theories on international trade and economic development
has knowledge about the relationship between the development of science and economic theory
has knowledge of the emergence of consumer society and the role of the modern consumer, by getting to know the history of mass consumption
has knowledge of key parts of Norwegian industrial history

Skills

The student...

can reflect on the functions and operation of capitalism and the market economy
can recognize examples of market power and various forms of business organization
knows the difference between theory and empirical evidence, and can reflect on the development of economic theory in its historical context

General competence

The student...

has acquired the ability to discuss relevant political and economic phenomena in an historical and scientific framework
has acquired the ability to think critically about the relationship between market and society, between consumption, production and marketing
has acquired the ability to reflect on the importance of a global economy and positive and negative impacts from globalization

Subject description MRS1103

Market and Society