Knowledge

The student...

has knowledge of how economic activity in a country can be measured and explained
has knowledge of how macroeconomic models and methods can be used to analyse the Norwegian and international economy
has knowledge of markets structures with different prerequisites
has knowledge of the producer decision, and supply of goods and services
has knowledge of the consumer decision, and supply of goods and services

Skills

The student...

can analyse macroeconomic problems by using mathematical and graphical presentations of macroeconomic models
can explain how changes in demand in one part of the economy will have ripple effects and can affect the overall level of economic activity in a country (Multiplier Theory)
can assess and analyse how macroeconomic policy, with emphasis on monetary and fiscal policy, can be used to smooth out cyclical fluctuations
can explain how national economies, especially small open economies such as the Norwegian one, are influenced by international factors
can discuss the key driving forces behind economic growth
can analyse the adaptation of different actors in a market, and show how price and traded quantity are determined
can explain how economic policy can affect the market
can explain how different forms of market failure affect market adaptation and efficiency in the economy

General competence

The student...

is able to present and communicate key macro- and microeconomic relationships
knows the basic design of macroeconomic policy
has knowledge about how to use economic theory to study the behaviour of the producers and the consumers, and the function of the market

Subject description SAM3100

Economics