ECON4220 – Microeconomics 3
This course is equivalent with ECON3220 – Microeconomics 3.
- Analyzing consumer and producer behavior using duality theory
- General equilibrium with application to taxation
- Decisions under uncertainty
- Games of incomplete information
- Economics of information
You should know
- how to derive the basic results in production and consumer theory using duality theory
- how to apply duality theory to derive basic results of optimal taxation in a general equilibrium setting
- 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.
You should be able to
- do basic microeconomic analysis based on techniques from duality theory
- analyze taxation in general equilibrium
- 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
You should be able to
- follow economic reasoning related to the course, for instance when reading professional reports
Students admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.
Students not admitted to the Master’s programme in Economics or the Master’s programme in Economic Theory and Econometrics (Samfunnsøkonomisk analyse), can apply for admission to one of our study programmes, or apply for guest student status.
Formal prerequisite knowledge
- MAT1100 – Calculus
- ECON2220 – Mikroøkonomi 2 or ECON1500 – Innføring i samfunnsøkonomi for realister (discontinued) or MAT1700 – Introduction to micro and macro economics (discontinued)
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.
- 10 credits overlap with ECON3220 – Microeconomics 3
- 5 credits overlap with ECON4200 – Microeconomics and Game Theory (discontinued)
- 5 credits overlap with ECON3200 – Microeconomics and Game Theory (discontinued)
- 5 credits overlap with ECON4240 – Equilibrium, Welfare and Information
Lectures and seminars.
Compulsory tuition activities:
- A compulsory term paper.
If the compulsory term paper is not approved, you may be given a second attempt to hand in a new term paper/improve the term paper within a short deadline.
When the compulsory term paper is approved, the result will be registered. The term paper will be valid for 8 consecutive semesters.
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.
Ordinarily, this course has a 3-hour written school exam.
For 2020 the following applies for the exam in ECON4220:
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.
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
No examination support material is allowed.
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
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.