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 situations where markets fail, such as when an economic situation involves a consumption or production externality.
The last part of the course will apply general equilibrium analysis to the question of economic openness. We explore three main questions.
- How does openness and globalization impact a country’s income?
- What are the channels through which openness affects income?
- Who are the potential winners and losers from economic openness?
- You learn how to analyze problems in a general equilibrium framework, including problems with market failures.
- You learn how economic openness affects the allocation of resources in the economy.
- You should be able to apply general equilibrium models to analyze questions involving industry structure, market failures 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.
Formal prerequisite knowledge
- ECON1210 – Mikroøkonomi 1
- ECON1310 – Makroøkonomi 1
- ECON1100 – Matematikk I and ECON2220 – Mikroøkonomi 2 or ECON2200 – Matematikk 1/Mikro 1 (MM1) (discontinued)
- 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: 2 hours per week throughout the semester.
Seminars: 2 hours per week through parts of the semester.
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.
A 3-hour written school exam.
The compulsory assignment must be approved in order to sit for the exam.
The written examination is conducted in the digital examination system Inspera. You will need to familiarize yourself with the digital examination arrangements in Inspera.
Examination support material
Students may use dictionaries at this exam. Dictionaries must be handed in before the examination. Please read regulations for dictionaries permitted at the examination.
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
It is recommended to request an explanation of your grade before you decide to appeal.
The deadline to request an explanation is one week after the grade is published. For oral and practical examinations, the deadline is immediately after you have received your grade.
The explanation should normally be given within two weeks after you have asked for it. The examiner decides whether the explanation is to be given in writing or verbally.
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.