Economics C, 30 credits
(Nationalekonomi C, 30 högskolepoäng)
| Course code | NE001G |
|---|---|
| Subject area | Economics |
| Main field of study | Economics |
| Progressive specialisation | G2E (First cycle, has at least 60 credits in first-cycle course/s as entry requirements, contains degree project for Bachelor of Arts/Bachelor of Science) |
| Academic school | School of Social Sciences |
| Disciplary domain |
Social sciences 100%
|
| Grading scale | AF |
| Education cycle | First-cycle (Bachelor) |
| Course level | C |
| Language of instruction | English |
| Valid from | Spring semester 2025 |
Validation
This course syllabus was validated by the Management Board of the School of Social Sciences at Södertörn University on 2024-03-28 according to the stipulations in the Higher Education Ordinance.
Entry requirements
Economics A, 30 credits, and Economics B, 30 credits, including Intermediate Macroeconomics, 7.5 credits, Intermediate Microeconomics, 7.5 credits, and Econometrics, 7.5 credits, or the equivalent. You also need: English 6 or the equivalent.
Learning outcomes
On completing the course, the student can:
Essay
Knowledge and understanding
- complete independent work that uses a scientific approach and is based on theories, methods and considerations that are central to the study of economics
Skills and ability
- formulate an economic problem
- apply theories and scientific methods used in economics to analyse economic problems
- report the results of an independent work in a structured manner, both in writing and orally
- specify a regression model that permits testing of the existence of a relationship between economic variables, and perform this analysis using statistical software
Values and approach
- critically examine scientific works, both as regards theoretical points of departure and method choices and as regards the statistics used
- demonstrate in-depth understanding of the role of economics in societal development and the responsibility associated with utilising economic tools
- adopt independent and critical positions in economic problem areas
- evaluate ethical considerations within economic research
Elective module: Corporate Governance
Knowledge and understanding
- describe different forms of corporate governance, ownership structures and their impact on company performance
- recognise the conflict between managers and owners, costs of corporate governance, incentive-driven contracts that regulate management control, and company acquisition as a mechanism for discipline
Skills and ability
- apply economic theory to analyse the link between ownership structure and economic development
- investigate the conflict between managers and owners, agent costs, contracts based on incentives in relation to control of managers, and company acquisition as a mechanism for discipline
Values and approach
- critically examine and interpret financial information about companies and economic development
- critically analyse how the firms are related to each other and to the economy as a whole
Elective module: Development Economics
Knowledge and understanding
- describe how modern growth theories can be used to investigate a poor country’s opportunities for development
- describe how international trade and trade policy affect the development of a poor country
- describe how poverty, inequality, malnutrition and migration affect a poor country's opportunities for development
Skills and ability
- apply economic theory to analyse the opportunities and obstacles that a poor country encounters
Values and approach
- critically evaluate growth theories and poor countries' opportunities for economic development
Elective module: Econometrics
Knowledge and understanding
- describe the assumptions made in the classical regression model
Skills and ability
- compile and analyse data qualitatively, in tables and figures
- perform linear regressions and analyse the results
Values and approach
- critically evaluate the limitations of the econometric theory and method applied in the course
Elective module: Environmental Economics
Knowledge and understanding
- describe externalities and market failures
- describe and apply economic theory for analysing environmental problems and sustainable development
Skills and ability
- evaluate environmental externalities
- use economic theory for the analysis of environmental problems and sustainable development
Values and approach
- critically evaluate economic theory to explain environmental problems and sustainable development
Elective module: Financial Economics
Knowledge and understanding
- describe how financial markets and institutions function and the role they play in a market economy
- describe the pricing of financial instruments and assets, as well as theories that explain the determination of interest rates and forward rates
Skills and ability
- apply economic theory to analyse the financial systems and economic development
- explain and calculate risk premiums and how a portfolio of instruments can be composed to minimise risk, given the choice of risk exposure
Values and approach
- critically examine and interpret financial information about financial markets and economic development
- critically analyse how the financial markets are related to each other and to the economy as a whole
Elective module: Intermediate Macroeconomics
Knowledge and understanding
- describe macroeconomic models when analysing economic development, unemployment and inflation
- describe economic relationships that affect the economy in the short and long run
Skills and ability
- use macroeconomic models when analysing economic development, unemployment and inflation
- use economic theory to explain economic disturbances and economic growth
Values and approach
- critically evaluate theories that explain the functioning of the economy at the macro level
Elective module: Intermediate Microeconomics
Knowledge and understanding
- describe how market price formation works and the role of the market system in the distribution of resources in society
- describe economic relationships that affect markets in the short and long term
Skills and ability
- analyse consumer choices under uncertainty
- conduct model-based analyses of microeconomic problems
Values and approach
- critically evaluate theories that explain the functioning of the economy at the micro level
Elective module: International Trade Theory
Knowledge and understanding
- describe the incentives that govern the international division of labour and the impact on economic growth and structural transformation
- describe the difference between models for intra-industrial and inter-industrial trade and understand in which contexts these models can be used
Skills and ability
- use different models that deal with migration and international capital flows and show how these conditions affect the functioning of the economy in the short and long term
- use models to evaluate the effects of outsourcing
Values and approach
- critically evaluate theories that explain internationalisation and international trade
Elective module: Public Finance
Knowledge and understanding
- describe the attitude to taxation and public expenditure in consequence-oriented (consequentialist) and procedure-based (contractarian) approaches, as well as spontaneous order
- describe fiscal sociology as sub-discipline of economics, in which public finance is considered from a broad social science perspective
Skills and ability
- apply contractarianism, spontaneous order, and fiscal sociology to analyse institutions through which wealth is distributed, as well as the consequences of this distribution
Values and approach
- critically evaluate economic theory to analyse the budget process, taxation and public expenditure
Elective module: Social Choice
Knowledge and understanding
- describe how philosophical differences between outcome-based (consequentialist) and procedure-based (contractarian) approaches, as well as spontaneous order, influence social choices
- explain the connection between justice, ethics and welfare
Skills and ability
- apply outcome-based (consequentialist) and procedure-based (contractarian) approaches, as well as spontaneous order, as a foundation for the economic analysis of justice, ethics and welfare
Values and approach
- critically evaluate economic theory in the analysis of social choice, based upon justice, ethics and welfare
Elective module: Socio-Economic Institutions
Knowledge and understanding
- describe how institutions influence economic behaviour in the market economy as a culturally and socially embedded system
- describe the interaction between culture and institutions, as well as interpersonal relationships
Skills and ability
- apply basic socioeconomic theory to analyse how the interaction between culture and institutions, and interpersonal relationships, affects the functioning of the market economy
Values and approach
- critically evaluate socioeconomic theory that explains how culture and institutions influence the functioning of the market economy
Course content, modules and examinations
Economics C consists of the compulsory module Essay, 15 credits, and two (2) elective modules of 7.5 credits each.
Elective modules that can be included are:
- Corporate Governance, 7.5 credits
- Development Economics, 7.5 credits
- Econometrics, 7.5 credits
- Environmental Economics, 7.5 credits
- Financial Economics, 7.5 credits
- Intermediate Macroeconomics, 7.5 credits
- Intermediate Microeconomics, 7.5 credits
- International Trade Theory, 7.5 credits
- Public Finance, 7.5 credits
- Social Choice, 7.5 credits
- Socio-Economic Institutions, 7.5 credits
Not all elective courses are given every semester, but the student is always guaranteed a place on a selection of modules that correspond to the total scope of the course.
Information regarding which elective module is given in the upcoming semester will be published on the university's website before the course starts.
Essay, 15 credits
(Kandidatuppsats, 15 högskolepoäng)
In this module, the students' ability to analyze an economic issue independently and critically is trained. The analyzes are based on the knowledge that the students have acquired in previous courses in economics. The course begins with an introduction to the thesis work. The students must then, in an independent way, but under supervision, formulate and carry out a scientific thesis. The essay is presented both orally and in writing at an examination seminar at the end of the course. On this seminar, the student must also discuss another bachelor’s thesis. Supervisors are appointed at the start of the course by the Economics department.
1001, Essay, 13 credits
(Kandidatuppsats, 13 högskolepoäng)
Grades permitted: AF1002, Method, 2 credits
(Metodseminarier, 2 högskolepoäng)
Grades permitted: Two-grade scaleEconometrics, 7.5 credits
(Ekonometri, 7,5 högskolepoäng)
The module deals with how to quantify economic relationships using econometric methods, and the problems that may arise in this context. It is mainly the classical linear regression model that is applied. An important part of the module consists of practical applications that are performed using statistical software.
1003, Econometrics, 7.5 credits
(Ekonometri, 7,5 högskolepoäng)
Grades permitted: AFFinancial Economics, 7.5 credits
(Finansiell ekonomi, 7,5 högskolepoäng)
The aim of the module is to create a deeper understanding of the importance and functioning of the financial markets in a modern market economy. The module first presents the structure of the financial market system. Interest rates are then examined, as well as the importance of risk for the determination of prices for financial and non-financial assets. Dealing with risk in financial institutions is also examined.
1004, Financial Economics, 7.5 credits
(Finansiell ekonomi, 7,5 högskolepoäng)
Grades permitted: AFCorporate Governance, 7.5 credits
( Företagandets organisation, ägande och finansiering, 7,5 högskolepoäng)
In the first part of the module, neoclassical price theory is developed in order to gain a deeper understanding of price as a mechanism for coordination and resource allocation. This is done in order to investigate whether direct control by a central authority is preferable to decentralised allocation through a pricing system. During the second part of the module, the determinants behind ownership and control are highlighted, as well as the relationship between finance, ownership and control. In this context, classical problems are examined, e.g.: the conflict between managers and owners, agent costs, contracts based on incentives in relation to control of managers, and company acquisition as a mechanism for discipline.
1005, Corporate Governance, 7.5 credits
(Företagandets organisation, ägande och finansiering, 7,5 högskolepoäng)
Grades permitted: AFIntermediate Macroeconomics, 7.5 credits
(Intermediär makroekonomi, 7,5 högskolepoäng)
The purpose of the course is to provide students with knowledge in various modern macroeconomic models. The course uses models to explain both endogenous and exogenous long-term economic growth. To increase understanding of factors that affect the economy in the short term and in what way fiscal policy and monetary policy are assumed to stabilize the economy, economic models such as the AD-AS model are used. Economic theory is also used to empirically investigate and understand macroeconomic phenomena.
1006, Intermediate Macroeconomics, 7.5 credits
(Intermediär makroekonomi, 7,5 högskolepoäng)
Grades permitted: AFIntermediate Microeconomics, 7.5 credits
(Intermediär mikroekonomi, 7,5 högskolepoäng)
After completing the course Intermediate microeconomics, students have gained an in-depth understanding of the economic theory of economic choice market price formation and the role of the market system in the distribution of society's resources. In addition, consumers' choices under complete and incomplete information as well as the role of market prices as information carriers and resources allocation mechanisms are addressed. The module also describes the concepts of public goods, external effects and asymmetric information and explains the concepts' analytical use in microeconomic theory.
1007, Intermediate Microeconomics, 7.5 credits
(Intermediär mikroekonomi, 7,5 högskolepoäng)
Grades permitted: AFInternational Trade Theory, 7.5 credits
(Internationell handelsteori, 7,5 högskolepoäng)
The course gives an understanding concerning the incentives behind the international division of labour and its implications on economic growth and structural change. The course describes Ricardo’s theory of comparative advantage as well as the Heckscher – Ohlin model concerning the importance of factor proportions between countries. Both interindustry and intraindustry trade models will be presented as well as the impact from migration, international capital flows and outsourcing.
1008, International Trade Theory, 7.5 credits
(Internationell handelsteori, 7,5 högskolepoäng)
Grades permitted: AFEnvironmental Economics, 7.5 credits
(Miljöekonomi, 7,5 högskolepoäng)
A market system without regulation does not include the negative environmental impact from the production of goods and services in the market price. This is an example of market failures that could be described in terms of negative externalities. The purpose of the course is to provide an understanding of how the environmental impact affects the growth process in an economy and its relation to sustainable development. The module deals with various methods that can be implemented in the analysis to capture economic costs that the external effects give rise to. The course also deals with various control measures that can be implemented to meet the requirement that economic decisions must contain for correct valuation of production where it occurs of negative externalities.
1009, Environmental Economics, 7.5 credits
(Miljöekonomi, 7,5 högskolepoäng)
Grades permitted: AFPublic Finance, 7.5 credits
(Offentlig finansiering, 7,5 högskolepoäng)
Public Finance studies the link between taxation and political decision making as well as the economic consequences to society of taxation. Consequence-oriented, procedure-based, and spontaneous order-based approaches to taxation and public expenditures are compared. Fiscal-sociological method is used to study the budget process and the interaction between taxation and public expenditures, and between state and market.
1010, Public Finance, 7.5 credits
(Offentlig finansiering, 7,5 högskolepoäng)
Grades permitted: AFSocial Choice, 7.5 credits
(Samhälleliga val, 7,5 högskolepoäng)
Social Choice studies the concepts justice and welfare. Welfare-theoretic issues are analyzed based on philosophical differences between outcome-based (consequentialist) and procedure-based (contractarian) approaches. Justice is analyzed based on differences between contractarianism and spontaneous order. Ethics is studied as a social process. The link between ethics and welfare is considered.
1011, Social Choice, 7.5 credits
(Samhälleliga val, 7,5 högskolepoäng)
Grades permitted: AFSocio-Economic Institutions, 7.5 credits
(Socioekonomiska institutioner, 7,5 högskolepoäng)
Socio-Economic Institutions studies how institutions influence economic behavior in a larger social and cultural context. The role of institutions within the socio-economic system and for how natural resources are used is analyzed. Differences in importance between cultural and natural resources, the interaction between culture and institutions, and the cultural context of entrepreneurship are studied. Interpersonal relations and the importance of morality of the market are considered.
1012, Socio-Economic Institutions, 7.5 credits
(Socioekonomiska institutioner, 7,5 högskolepoäng)
Grades permitted: AFDevelopment Economics, 7.5 credits
(Utvecklingsekonomi, 7,5 högskolepoäng)
The module integrates and deepens material from earlier courses in trade and growth theory as well as from basic microeconomics in order to be applied in the perspective of economic development. The course begins with discussing the relation between growth and development. Then we discuss different topics in development economics as the relation between inequality and development as well as the importance of malnutrition for development prospects. The course will also investigate the interaction between the urban and the rural economy and describe the importance of agriculture in poor countries. The course ends with a discussion of the importance of international trade in the perspective of development as well as the impact from trade policy.
1013, Development Economics, 7.5 credits
(Utvecklingsekonomi, 7,5 högskolepoäng)
Grades permitted: AFCourse design
The course consists of lectures, seminars, group work and essay supervision. The Econometrics elective module also includes computer excersises.
Examination format
Essay
- Writing a Bachelor’s essay
- Oral and written peer review and defence
- Regualar submissions of working versions of the essay
- Oral presentations
- Active participation in seminars and supervision
Elective module: Corporate Governance
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year.
Elective module: Development Economics
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
Elective module: Econometrics
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
- Computer exercises
Elective module: Environmental Economics
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
Elective module: Financial Economics
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
Elective module: Intermediate Macroeconomics
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
Elective module: Intermediate Microeconomics
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
Elective module: International Trade Theory
- Written examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
Elective module: Public Finance
- Written take-home examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
- Active participation in seminars
Elective module: Social Choice
- Written take-home examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
- Active participation in seminars
Elective module: Socio-Economic Institutions
- Written take-home examination
- Written hand-in assignments that may provide bonus points that can be added to the exam results. Any awarded bonus points are valid for the first examination and for the next re-examination opportunity in the same academic year
- Active participation in seminars
The grading criteria are distributed prior to the start of a course or module.
If a student has a certificate from Södertörn University for compensatory support, the examiner has the right to decide on an adapted examination or alternative form of examination in accordance with Södertörn University's regulations.
Restrictions on accreditation
The course may not be accredited as part of a degree if the contents are partly or wholly the same as a course previously taken in Sweden or elsewhere.