Translation of the Swedish course syllabus 
 
Economics B, 30 credits
(Nationalekonomi B, 30 högskolepoäng)
 
Course code: 1104NE
Subject area: Economics
Main field of study: Economics
Academic school: School of Social Sciences
Disciplinary domain: Social Sciences 100%
Grading scale: AF
Education cycle: First-cycle (Bachelor)
Course level: B (intermediate)
Progressive specialisation: G1F (First cycle. Entry requirements: 0-60 credits from first-cycle courses)
Language of instruction: English
Valid from: HT 2018 (autumn semester)


1. Validation

This course syllabus was validated by the Faculty Board at Södertörn University on 2018-04-24 according to the stipulations in the Higher Education Ordinance.

2. Entry requirements

30 credits in Economics A and English B or equivalent

3. Learning outcomes

The learning outcomes are adapted to each of the three specialisations that student can choose on the course. These specialisations are:
  • Economics and the theory of the firm
  • International relations and development
  • economics and the social sciences.

    Note that not all of these specialisations are offered each semester. See more below item 9: Other stipulations.

    On completing the course, the student is able to:

    - Knowledge and understanding -

    [if the student chooses the specialisation in economics and the theory of the firm]

  • explain and use basic analytical tools in game theory
  • describe models for different kinds of markets such as monopoly, oligopoly and perfect competition
  • describe the relationship between ownership, finance and control in a firm
  • explain the meaning of the incentive contract as an alternative to monitoring
  • exhibit an understanding of the importance and the behaviour of the financial markets in a modern market economy

    [if the student chooses the specialisation in international relations and development]

  • understand the incentives that determine the global allocation of labour and the impact on economic growth and structural change
  • describe how modern growth models can be used in order to understand a poor country’s ability to achieve economic development
  • explain the impact of international trade, as well as trade policy, on a poor country’s performance
  • understand the importance of economic means of control as a regulating measure when dealing with problems regarding the environment and resources
  • describe different kinds of evaluations in health economics

    [if the student chooses the specialisation in economics and the social sciences]

  • know and understand the differences between outcome-based, consequentialist and procedure-based, contractual approaches, with respect to welfare-theory problems and social justice
  • understand fiscal sociology, as a sub-discipline of economics, and public finance from a broad social science perspective
  • describe how a market economy is based upon a socioeconomic system that consists of the cultural, political, and economic systems in society.

    - Skills and ability-

    [if the student chooses the specialisation in economics and the theory of the firm]

  • use a number of simple market models in an applied market analysis
  • select relevant models in order to analyse different market conditions
  • use economic theory in order to analyse strategic decisions in firms, especially concerning price
  • manage risk when determining prices for financial and non-financial assets

    [if the student chooses the specialisation in international relations and development]

  • use different models concerning international trade in order to evaluate the impact of different kinds of trade policy
  • use economic theory in order to analyse the obstacles and opportunities that confront a poor country
  • implement different means of control in order to regulate environmental and resource problems
  • apply economic models to explain various problems in healthcare

    [if the student chooses the specialisation in economics and the social sciences]

  • implement theory that analyses the impact of social norms on legislation
  • apply fiscal sociology in order to analyse the institutions that allocate wealth, as well as evaluate the consequences of different allocations
  • implement economic theory about interpersonal relations when analysing the impact of socio-economic institutions on the performance of the market economy

    - Values and approach -

    [applies to all specialisations]

  • assimilate insights about the importance of economics in the process of social development as well as the responsibility associated with the use of economic tools
  • make independent decisions in the field of economics -make insightful reflections on the importance of ethics in economic research

  • 4. Course content, modules and examinations

    At B-level, the student first either follows the course in intermediate macroeconomics or the course in intermediate microeconomics. The course in intermediate macroeconomics further develops the analytical tools gained on the A-level course. The course in intermediate microeconomics describes the behaviour of households and firms in an economic environment characterised by either certainty or uncertainty.

    After the first course, the student is recommended to choose one of the following specialisations:

    1) Economics and the Theory of the Firm: Industrial Organisation, Corporate Governance and Financial Economics

    2) International Relations and Development: International Trade Theory, Development Economics and Environmental Economics or Health Economics

    3) Economics and the Social Sciences: Social Choice, Public Finance and Socio-Economic Institutions.

    At B-level, a course in Econometrics is offered as an alternative to one of the specialist courses.

    • Intermediate Macroeconomics, 7,5 credits
      (Intermediär makroekonomi, 7.5 högskolepoäng)
      The module uses the IS-PC-MR-models in order to investigate monetary and fiscal policy, consumption, investment and money in an integrated macroeconomic context. During the course the student is informed about exogenous and endogenous growth models to highlight various aspects of economic growth and development.


    • 1001, Intermediate Macroeconomics, 7,5 credits
      (Intermediär makroekonomi, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Intermediate Microeconomics, 7,5 credits
      (Intermediär mikroekonomi, 7.5 högskolepoäng)
      The aim of the module is to create a deeper understanding for the economic theory of choice, the determination of price and the importance of the market system for the allocation of resources. During the module, consumer behaviour under certainty and uncertainty is investigated, as is the importance of price as a means of information and resource allocation. Certain concepts such as collective goods, external effects and asymmetric information are described and their analytical use in microeconomic theory is explained.


    • 1002, Intermediate Microeconomics, 7,5 credits
      (Intermediär mikroekonomi, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Industrial Organisation, 7,5 credits
      (Industriell organisation, 7.5 högskolepoäng)
      On the basic course in microeconomics, the focus is limited to two extreme forms of market structures: perfect competition and monopoly. In the real world context, few examples of these extreme structures are found. On this module, the perspective is broadened in order to approach more realistic market structures. This means the behaviour in markets between perfect competition and monopoly is examined. In this new context, strategies are studied for price as well as different kinds of applications for IO-models such as outsourcing, R & D, advertising, auctions and strategic investment.


    • 1003, Industrial Organisation, 7,5 credits
      (Industriell organisation, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Corporate 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.


    • 1004, Corporate Governance, 7,5 credits
      (Företagandets organisation, ägande och finansiering, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Financial 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.


    • 1005, Financial Economics, 7,5 credits
      (Finansiell ekonomi, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • International Trade Theory, 7,5 credits
      (Internationell handelsteori, 7.5 högskolepoäng)
      The aim of the module is to create deeper understanding of how the global allocation of resources and technologies creates incentives for trade. The course examines different models for international trade, such as the Ricardo model and the Heckscher-Ohlin model and then uses them as a framework to investigate gains and losses from trade. Trade under imperfect competition is also examined and migration, the movement of capital, and outsourcing and trade policies are investigated.


    • 1006, International Trade Theory, 7,5 credits
      (Internationell handelsteori, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Development Economics, 7,5 credits
      (Utvecklingsekonomi, 7.5 högskolepoäng)
      During the module, specific knowledge from different fields of economics, such as trade theory, growth models and basic microeconomics, are integrated in order to examine tasks that are specific to a poor country. The module begins with an investigation of the relationship between growth and development. A discussion follows about the relationship between inequality and development, as well as an investigation of the relationship between malnutrition and development. The module also examines the interaction between rural and urban areas, as well as the role of farming in poor countries. It concludes with a discussion about trade and development and the impact of trade policies.


    • 1007, Development Economics, 7,5 credits
      (Utvecklingsekonomi, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Environmental Economics, 7,5 credits
      (Miljöekonomi, 7.5 högskolepoäng)
      In a market system without regulation the negative impact on the environment from producing goods and services is not included in the market price. This is an example of market failure that used to be described in terms of negative external effects. The module examines different methods that are implemented in order to translate the external effects into actual costs. The course also presents different economic control measures that can be implemented in order to satisfy the demand that economic decisions should include a correct valuation of negative externality.


    • 1008, Environmental Economics, 7,5 credits
      (Miljöekonomi, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Health Economics, 7,5 credits
      (Hälsoekonomi, 7.5 högskolepoäng)
      The module describes economic models that are used to analyse different problems in the field of healthcare. In this context, the module describes different ways to finance healthcare and also analyses how healthcare should be organised. Different ways to evaluate healthcare are also described.


    • 1009, Health Economics, 7,5 credits
      (Hälsoekonomi, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Social Choice, 7,5 credits
      (Samhälleliga val, 7.5 högskolepoäng)
      The aim of the module is that the student develops a basic understanding of the philosophical differences between outcomes-based, consequentialist and procedure-based, contractual approaches regarding the role of ethics and the view of social justice. Based on the philosophical differences between the outcome-based, consequentialist and procedure-based, contractual approaches, welfare-theory problems are studied with an emphasis on social justice. The constitutional foundation is based on interpersonal relations and ethics as social processes.


    • 1010, Social Choice, 7,5 credits
      (Samhälleliga val, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Public Finance, 7,5 credits
      (Offentlig finansiering, 7.5 högskolepoäng)
      The aim of the module is that the student develops a basic understanding of fiscal sociology as a sub-discipline of economics, where public finance is seen from a broad social science perspective. Based on fiscal sociology, institutions through which wealth is redistributed and the economic consequences of redistribution are studied. The link between taxation and political decision making, as well as economic and social distortions caused by taxation are taken into account.


    • 1011, Public Finance, 7,5 credits
      (Offentlig finansiering, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Socio-Economic Institutions, 7,5 credits
      (Socioekonomiska institutioner, 7.5 högskolepoäng)
      The aim of the module is that the student develops a basic understanding of how a market economy is based on socio-economic institutions, including cultural, political, and economic institutions in society. Interpersonal relations can create fellow feeling, which is crucial to the understanding of the importance of the morality of the market as a foundation of a market economy. Fundamental institutions of civilisation, such as language, norms, laws, and money, are studied with an emphasis on interpersonal relations.


    • 1012, Socio-Economic Institutions, 7,5 credits
      (Socioekonomiska institutioner, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F
    • Econometrics, 7,5 credits
      (Ekonometri, 7.5 högskolepoäng)
      The module describes the use of econometric methods for quantifying economic relations, and also the problems that may arise in this context. The classical linear regression model is emphasised. The module also offers the student practical training in the use of statistical software in applying econometric methods to real events.


    • 1013, Econometrics, 7,5 credits
      (Ekonometri, 7.5 högskolepoäng)
      Grades permitted: A/B/C/D/E/F

    5. Course design

    The course is designed in the following way:

    Intermediate macroeconomics
    - Lectures.

    Intermediate microeconomics
    - Lectures.

    Industrial Organisation
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    Corporate Governance
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    Financial Economics
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    International Trade Theory
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    Development Economics
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    Environmental Economics
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    Health Economics
    - Lectures. Some individual work or group work may be required in addition to the lectures.

    Social Choice
    - Lectures and seminars. Some individual work or group work may be required in addition to the lectures.

    Public Finance
    - Lectures and seminars. Some individual work or group work may be required in addition to the lectures.

    Comparative Socio-Economic Institutions
    - Lectures and seminars. Some individual work or group work may be required in addition to the lectures.

    Econometrics
    - Lectures and compulsory computer exercises. Some individual work or group work may be required in addition to the lectures.

    6. Examination format

    In order to pass the B-level course, the student must fulfil the following requirements:

  • the student must have obtained at least a pass grade for four modules
  • the student must have obtained at least a pass grade for either the module in intermediate macroeconomics or in intermediate microeconomics.

    Intermediate Macroeconomics:
  • Written examination.

    Intermediate Microeconomics:
  • Written examination.

    Industrial Organisation:
  • Written examination.

    Corporate Governance:
    Written examination.

    Financial Economics:
    Written examination.

    International Trade Theory:
    Written examination and independent work.

    Development Economics:
    Written examination.

    Environmental Economics:
    Written examination.

    Health Economics:
    Written examination.

    Social Choice:
  • Take-home examination.
  • Seminars

    Public Finance:
  • Take-home examination.
  • Seminars

    Comparative Socio-Economic Institutions:
  • Take-home examination.
  • Seminars

    Econometrics:
  • Written examination
  • Oral and written presentation of group work.
  • Computor exercises
  •  The grading criteria are distributed prior to the start of a course or module.

    If a student has a certificate for compensatory support from Södertörn University, the examiner may decide on an adapted examination or alternative examination form in accordance with Södertörn University's regulations.

    7. Reading list

    If there are changes in the reading list between semesters, a new list for the next semester is to be validated no later than July 15 and December 15 respectively.
     
    Valid from Valid to Decision date Decision board
    HT 2018VT 20192018-05-30Ämnesrådet för nationalekonomi vid institutionen för samhällsvetenskaper
    HT 2019HT 20192019-05-17Ämnesrådet för nationalekonomi vid institutionen för samhällsvetenskaper
    VT 20202019-11-06

    8. 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.

    9. Other stipulations
    Following the Vice-Chancellors decision on internationalization and grade scale at Södertörn University College (dnr: 1148-1.1.2-2018), this syllabus replaces the syllabus with course code 1083NE, with the difference that the grade system has been updated. The syllabus is determined through special order (dnr: 1773-2.1.1-2018).