Knowledge

The student ...

has knowledge of basic microeconomic models that explain supply, demand and pricing under different market conditions
has knowledge of how macroeconomic models and methods can be used to analyse the Norwegian and international economy
knows the central driving forces and reasons for economic growth
can explain how national economies are affected by international conditions
know and have knowledge of the main features of the development of the global economy over the past 200 years
can give an account of key characteristics of a sustainable economy and circular economy
recognises alternative economic models for a sustainable and circular economy

Skills

The student ...

can analyse macroeconomic issues and, with the help of graphical presentations, explain how changes in parts of the economy affect the general level of economic activity (Keynes model and AD-AS model)
can assess and analyse how macroeconomic policy, with an emphasis on monetary and fiscal policy, can be used to smooth out cyclical fluctuations
can analyse the adaptation of various players in a market and show how price and traded quantity are determined
can analyse the main features of economic history and assess relevance for today's global and national challenges

General competence

The student ...

can present and communicate key economic connections
knows the basic design of macroeconomic policy
knows how simple economic analysis can be used to study the behavior of companies and consumers, and how markets work
can reflect on how economic history and alternative economic theories influence current economic analyses

Subject description 3217

Economics for managers