ECON2610 – Welfare and trade
The first part of the course will begin with general equilibrium analysis: how demand and supply conditions interact in several markets to determine the prices of many goods. We will analyze theoretically and empirically how factors of production are allocated across firms and sectors, and ask whether they are allocated efficiently.
The last part of the course will apply general equilibrium analysis to the question of economic openness. We explore three main questions.
- First, how does openness and globalization impact a country's income?
- Second, what are the channels through which openness affects income?
- Third, who are the potential winners and losers from economic openness? Does trade help or hurt the environment, and if so, in which ways?
- You learn how to analyze problems in a general equilibrium framework, and learn to analyze whether factors of production are allocated efficiently.
- You learn how economic openness affects the allocation of resources in the economy.
- You should be able to apply general equilibrium theory to analyze questions involving industry structure, resource allocation and economic openness.
You should be able to
- read and understand project reports and journal articles that make use of the concepts and methods that are introduced in the course.
- make use of the course content in your own professional and academic work.
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.
Recommended previous knowledge
- 5 credits overlap with ECON2915 – Economic Growth (discontinued)
- 5 credits overlap with ECON3610 – Samfunnsøkonomisk lønnsomhet og økonomisk politikk (discontinued)
- 5 credits overlap with ECON4610 – Samfunnsøkonomisk lønnsomhet og økonomisk politikk (discontinued)
Lectures and seminars.
Compulsory tuition activities:
- A compulsory assignment
If you have submitted your compulsory assignment and not gotten it approved, you may be given a new attempt. The new attempt will have a short deadline.
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
If your assignment is approved, this will be registered by the administration. You don’t have to resubmit the assignment if you wish to retake an exam.
Ordinarily, this course has a 3-hour written school exam.
For 2020 the following applies for the exam in ECON2610:
The examination will be a 5-hour home examination in Inspera. The home exam will be an open-book exam, where all written and printed resources as well as technical support is allowed. All submitted papers will be checked for plagiarism. You can find the date and time for the exam on the semester page.
You must have passed the mandatory activities in order to sit for the exam.
Submit assignments in Inspera
You submit your assignment in the digital examination system Inspera. Read about how to submit your assignment.
Use of sources and citation
Language of examination
The examination text is given in English.You may submit your response in Norwegian, Swedish, Danish or English.
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.
Explanations and appeals
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.
See also our information about resitting an exam.
Withdrawal from an examination
It is possible to take the exam up to 3 times. If you withdraw from the exam after the deadline or during the exam, this will be counted as an examination attempt.
Special examination arrangements
Application form, deadline and requirements for special examination arrangements.
The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.