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Economic theory and the market system


Intermediate Microeconomics

7.5 credits

Autumn / Spring



This course provides a deeper understanding of economic theory about choice, the determination of prices and the importance of the market system for the allocation of resources. It examines consumer behaviour under certainty and uncertainty, as well as the importance of prices as providers of information and resource allocation.

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Tools and knowledge for analysing important societal issues After studying Economics, you can work in both the public and private sectors, for national or international organisations, with issues relating to the economics of society. In the private sector, it is common for economists to work at banks or in companies in the financial sector. However, economists may also work at consultancies or other companies that require socio-economic expertise. In the public sector, you could work at government ministries, public authorities, municipalities or the Swedish Riksbank. Studying Economics gives you important, societally beneficial knowledge. After your studies, you will have the tools and knowledge necessary to analyse important societal issues Studying Economics is not only a strength on the labour market, but it also provides an important general education for understanding our societal economy. Read about research in this subject
The economic theory of choice, price determination and the market system On this course, you will learn basic concepts of microeconomic theory, such as choice, price determination, and the importance of the market system for the allocation of resources. You will investigate consumer behaviour in certain and uncertain conditions, and look at how the structure of the market affects social welfare and the allocation of the market surplus, as well as how government policies can affect the behaviour and choices of consumers and companies. The course also examines concepts such as collective goods, external effects and asymmetric information and explains their use in the analysis of microeconomic theory. Course design The course consists of lectures and seminars and is assessed using written examination and take-home assignments.
How can we manage sparse resources and work towards sustainable economic growth? Economics is important for societal democracy, as the purpose of the subject is to investigate how we manage and distribute sparse resources. The subject therefore has a strong link to most of the UN global goals. Economics has a broad perspective that covers many societal functions, everything from conditions for businesses and employees to those for sustainable development and the role of the financial market in global stability. Economics covers many different areas and has clear links to many current societal problems. Studying the subject provides insight into environmental economics, development economics, financial economics, industrial organisation, labour market economics and various theories of international trade. These areas are strongly associated with current societal problems such as trade wars and globalisation, unemployment and integration, poverty and opportunities for development in low-income countries. If you study Economics, you will gain important societal knowledge that is beneficial on the labour market, as well as tools for analysing important societal problems. At Södertörn University, our aim is to teach the subject using a broad perspective and an unconditional approach. Read about research in this subject