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ECON1220 - Welfare and politics

Course content

The course gives an introduction to economic welfare theory applied to the public sector (Public Economics). It introduces the two main reasons for government intervention in the market economy: efficiency and equity.

The students will learn about such fundamental concepts as perfect and imperfect competition, external effects, public goods and asymmetric information. The course analyses and discusses the extent to which government intervention improves the functioning of markets. The main instruments for correcting the distribution of income are also considered. The main features of the public sector in Norway are presented.

Learning outcomes

You will learn the basic concepts of economic welfare theory. You will be able to explain how and why the price mechanism contributes to an efficient use of resources. Furthermore, you will learn about the main forms of market failures, for instance environmental pollution, and how they can be corrected. You will also learn about the main instruments of distributional policy.

Admission

Students at UiO must apply for courses in StudentWeb.

International applicants, if you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures for international applicants.

The examination in this course is not available for external candidates. Only students admitted to the course may sit for the examination.

Prerequisites

Formal prerequisites

ECON1210 - Consumer behavior, firm behavior and markets (may be taken in the same semester).

Teaching

Lectures: 2 hours per week throughout the semester.

Seminars: 2 hours per week through parts of the semester.

There might occur weeks exempt from teaching (where students are expected to do compulsory term paper).

One compulsory term paper.

If the compulsory term paper are not approved, students will have a new attempt by handing in a new paper. A student who still not succeed, will not be permitted to take the exam in this course.

Exam information

A 3-hour written school exam. Students are not allowed to present themselves to the written school exam if the compulsory term papers are not approved.

When the compulsory term paper is approved, the result will be registered. Students can retake the written exam later without handing in compulsory term paper again.

Assessment and grading

Course grades are awarded on a descending scale using alphabetic grades from A to E for passes and F for fail. Read more about the grading system .

An external auditor regularly evaluates the academic quality of the course, including the form of exam used on the course.

Explanations and appeals

Students can request an explanation of their grades, and can also appeal against their grades or make a complaint about formal examination errors. Read more about explanations and appeals

Possibility of make-up exams and re-takes

You can usually resit an exam, but the conditions depend on whether you had a valid reason for absence from the regular exam. Read more about resitting an exam .

Withdrawing from exams and limits on re-takes

A student can sit for this exam up to 3 times. If a student wishes to withdraw from the exam, s/he must do this in StudentWeb at least two weeks prior to the first day of the exam. Failure to do so will be counted as one of the three opportunities to sit for the exam.

Exam options for students with special needs

Students may apply for access to alternative exam resources or exam forms on the basis of chronic illness and/or special needs that create a marked disadvantage to other students in the exam situation. Mothers who are breastfeeding may apply for extra time to complete the exam.

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