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

1. explain and discuss core principles in microeconomics, which include microeconomic issues of decision and choice, production and trade of goods and services, market equilibrium, economic welfare, efficiency, strategic interactions between firms, pricing and use of inputs, externalities, interdependency of markets, and interactions between principals and agents.
2. explain and discuss information transmitted by analytical methods and model-based argumentation in microeconomics.
3. explain and discuss the situations in which different methodological approaches in microeconomics are appropriate.

4. apply microeconomic concepts that have a broad use for decision making (for example opportunity cost, equilibrium, disequilibrium, incentives, expectations and surprises, the possible gains from voluntary exchange, and the relevance of marginal considerations).
5. communicate ideas, information, and concepts in writing by means appropriate to various problems in microeconomics.
6. solve problems in microeconomics using graphical, tabular, algebraic, and calculus-based techniques.

7. analyze microeconomics from relevant scientific, societal and ethical aspects

Important elements of the course are:

• Consumer behavior in goods and factor markets,
• Producer behavior in goods and factor markets,
• Different market forms such as perfect competition and monopoly,
• The foundation of welfare theory,
• The cause and effect of market failure,
• Allocation and distribution effects from taxation,
• Externalities and their effect

Connection to Research and Practice
The microeconomic models introduced in the course are based on research. The theories on welfare and markets broadly connect to JIBS research area renewal. Microeconomic theories, and models are put into practice through the assignment, which involve real-world issues.

The course includes lectures and exercises, assignment, and written examination.

The teaching is conducted in English.

General entry requirements and English 6, Mathematics 3b or 3c and Civics 1b or 1a1+1a2 and required grade Passed. Exemption is granted from requirement in Swedish.

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

Individual written exam (ILOs: 1-4, 6-7) representing 6.5 credits.
Group assignment (ILO: 5) representing 1 credit.

Name of the Test	Value	Grading
Individual written exam1	6.5 credits	A/B/C/D/E/FX/F
Group assignment1	1 credit	U/G

¹ All parts of the compulsory examination in the course must be passed with a passing grade (A-E or Pass) before a final grade can be set. The final grade of the course is determined by the sum total of points for all parts of the examination in the course (0-100 points). 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 plagiarising. 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 plagiarising 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.

Main textbook:
Frank, R., Bernanke, B., Antonovics, K., Heffetz, O., (2024 release), Principles of Microeconomics, McGraw-Hill/Irwin

Assignment material:
Miller, Roger LeRoy, Benjamin, Daniel K & North, Douglas. The Economics of Public Issues, Pearson, latest edition.

Additional material may be provided during the course.