ECON3220 – Microeconomics 3
Course description
Course content
This course is equivalent with ECON4220 - Microeconomics 3
- General equilibrium with state-dependent goods
- Incomplete markets and decisions under uncertainty
- Games of incomplete information
- Economics of information
Learning outcome
Knowledge
You should know
- the theory of choice under uncertainty, including the expected utility theorem
- different form of non-cooperative games — both with and without complete information — and solution (both equilibrium and non-equilibrium) concepts for each of these classes of games
- the implication of moral hazard problems and adverse selection
Skills
You should be able to
- understand basic concept of decision theory
- formulate economic problems that involve strategic interaction as non-cooperative games
- use the appropriate solution concepts in such games
- formulate economic problems that involve asymmetric information
Competence
You should be able to
- follow economic reasoning related to the course, for instance when reading professional reports
Admission to the course
Students at UiO must apply for courses in Studentweb.
If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.
You can not attend this course if you have already passed specific ECON-courses at a higher level.
This course is not available for single course students.
Students attending the Bachelor's programme in Mathematics: finance, insurance and economics with the field of study Mathematics and Economics may be given priority in admission to this course if they apply for admission to the course in the first round of admission in June.
Formal prerequisite knowledge
- ECON1100 – Matematikk I, or equivalent.
- ECON2220 – Mikroøkonomi 2, or equivalent.
Alternatively
- MAT1100 – Calculus.
- ECON2220 – Mikroøkonomi 2 or ECON1500 or MAT1700
Recommended previous knowledge
- It is recommended to take the course either in parallel with or after ECON3120 – Mathematics 2: Calculus and Linear Algebra / ECON4120 – Mathematics 2: Calculus and Linear Algebra, or equivalent.
Overlapping courses
- 10 credits overlap with ECON4220 – Microeconomics 3.
- 5 credits overlap with ECON3200.
- 5 credits overlap with ECON4200.
- 5 credits overlap with ECON4240.
Teaching
Lectures and seminars.
Compulsory tuition activities:
-
A compulsory term paper.
The assignment deadline will be specified in Canvas. If you submit your answer to the assignment, but do not pass, you may get another attempt. The new attempt will have a short deadline.
When the compulsory term paper is approved, the result will be registered. The approved compulsory term paper is valid for 9 semesters, starting with the semester in which it is passed.
See The Faculty of Social Sciences` rules regarding compulsory tuition activities.
Candidates who have passed the course before autumn 2016 and wish to re-take the exam need to get the term paper approved before they can re-take the exam.
Absence from compulsory tuition activities
If you are ill or have another valid reason for being absent from compulsory tuition activities, your absence may be approved or the compulsory activity may be postponed.
Access to teaching
A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, depending on available capacity.
Course responsible can at the beginning of the semester update the syllabus list by changing no more than three articles, though in a way that it will not change the overall scope or thematic content of the course.
The syllabus also includes any lecture notes that will be made available for the students in Canvas.
Examination
The examination will be a 3-hour written school exam.
You must have passed the compulsory activities in order to sit for the exam.
Exam papers with comments from examiner
Examination support material
Resources allowed: Open book examination, where all printed and written resources are allowed.
Language of examination
The examination text is given in English. You may submit your response in Norwegian, Swedish, Danish or English.
Grading scale
Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.
Resit an examination
If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.
There are restrictions on resitting this exam. See further information about resitting an exam.
More about examinations at UiO
- Use of sources and citations
- Special exam arrangements due to individual needs
- Withdrawal from an exam
- Illness at exams / postponed exams
- Explanation of grades and appeals
- Resitting an exam
- Cheating/attempted cheating
You will find further guides and resources at the web page on examinations at UiO.