On completion of the course the students will be able to:

1. Explain the links between economic efficiency and social welfare.
2. Describe the relevance of informational asymmetries in economic analysis and business decisions.
3. Relate information and decisions, both individual and social, and incentive mechanisms.
4. Describe the incentive effects of market interventions and policy instruments.

5. Apply models for analyzing real world phenomena within firms and markets in connection with social goals.
6. Apply economic concepts that have a broad use in economic analysis and business decisions such as; opportunity costs, strategic behavior, externality, information asymmetry, and market power.
7. Formulate ideas and solve problems using graphical, tabular, algebraic, and advanced calculus-based techniques
8. Discuss relevant analytical tools for the analysis of concrete policy and business problems.

9. Evaluate and analyze the social implication of different market forms and incentive

The course investigates the relation between social goals and the economic mechanisms that can allow society to pursue them. The emphasis is on the incentives that the economic agents face within alternative possible settings, and on the extent to which each mechanism can mobilize the resources available to achieve social goals.

A further theme is the analysis of the informational aspects of markets and organizations. The main focus is on the strategies and institutions which are motivated by informational asymmetries, such as those that typically exist both between potential exchange partners and between the parties to a contract, also to appreciate the relevance of modern information technologies.

The approach to each topic emphasizes the aspects related to social welfare and to business strategy.

Connection to Research and Practice
The course is connected to the research front of Microeconomics and Social Choice, both theoretically and empirically. Issues related to these topics are fundamental to all research areas of JIBS.
Special attention is paid to the potential effects of the innovations that are continuously being introduced in the areas of communication and information, and to policy instruments that can be of relevance in connection with sustainability goals

The course is delivered through lectures, workshops and exercise classes.

The teaching is conducted in English.

General entry requirements and completed 60 credits in Economics or Business Administration including 15 credits in Economics (or equivalent).

The course is graded A, B, C, D, E, FX or F.

Individual written exam (ILOs 1 – 7, and 9) representing 5.5 credits.
Group assignment(s) (ILOs 5, 6, 8 and 9), accounting for 2 credits

To pass the course, students must pass each element of the examination.

Name of the Test	Value	Grading
Individual written exam1	5.5 credits	A/B/C/D/E/FX/F
Group assignment(s)1	2 credits	A/B/C/D/E/FX/F

¹ All parts of compulsory examination in the course must be passed with a passing grade (A-E) before a final grade can be set. The grade is set in accordance to JIBS grading policy.

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.
At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.
At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity
JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination.
Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarizing. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarizing called the Interactive Anti-Plagiarism Guide.
Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

A list of additional articles/handouts will be supplied at the course introduction