Introduction to Economics, basic course, 8 credits

Main field of study

Course level

Advancement level

Course offered for

• Business and Economics Programme

Entry requirements

General entry requirements for undergraduate studies
and
Social Studies, English, and Mathematics corresponding to the level of Swedish upper secondary education (Samhällskunskap 1b or 1a1 and 1a2, Engelska 6 and Matematik 3b/3c or Matematik C)

Intended learning outcomes

On completion of the course, the student should:
- be familiar with the basic issues and the basic assumptions of economics,
- have an understanding of the determinants of demand, supply and price in a market, and what can change them,
- have knowledge about a company's different production and cost relationships and how a company in perfect competition determines the production quantity that will maximise the profit,
- have knowledge about different economic growth theories and have some familiarity with the Swedish economic development in a long-term perspective,
- have knowledge of the function of the labour market, reasons for unemployment and some knowledge of employment policy,
- have a basic ability to apply economic models to analyse economic problems,
- have developed basic skills to interpret and apply graphical and simple mathematical analysis
- consciously be able to take an economic approach ("thinking like an economist") to various types of economic problems.

Course content

The course covers

- funamental concep in math
- the problem of scarcity and the concept of opportunity cost,
- the conditions of economic theory; the actors in the market and the rationality assumption,
- demand, supply and equilibrium price. Effects of different disturbances on the equilibrium,
- production theory,
- the company's short-term and long-term cost causations,
- profit maximisation and supply at perfect competition,
- the labour market, structural and conjunctural unemployment, employment policy,
- mathematical fundamental concepts, such as fractions and powers, percent, functions, equation systems, derivative, optimisation and graphical illustrations.

Teaching and working methods

The teaching is given in the form of a number of exercises and lectures. The purpose of the lectures is to help the student structure the course contents. At the exercises, assignments and problems that the student is expected to prepare in advance, independently or in groups, are discussed. In some exercise sessions, the student may be given time to work with assignments during scheduled time, partly under teacher supervision. Seminars where a project is presented also occurs. Apart from this, the student independently studies the reading list and works with practical assignments and problems.

Examination

The course is examined through an individual written examination, and through a project and active participation in a seminar where the project is presented. Detailed information can be found in the study guide. 

If special circumstances prevail, and if it is possible with consideration of the nature of the compulsory component, the examiner may decide to replace the compulsory component with another equivalent component.

If the LiU coordinator for students with disabilities has granted a student the right to an adapted examination for a written examination in an examination hall, the student has the right to it.

If the coordinator has recommended for the student an adapted examination or alternative form of examination, the examiner may grant this if the examiner assesses that it is possible, based on consideration of the course objectives.

An examiner may also decide that an adapted examination or alternative form of examination if the examiner assessed that special circumstances prevail, and the examiner assesses that it is possible while maintaining the objectives of the course.

Students failing an exam covering either the entire course or part of the course twice are entitled to have a new examiner appointed for the reexamination.

Students who have passed an examination may not retake it in order to improve their grades.

Grades

Other information

Planning and implementation of a course must take its starting point in the wording of the syllabus. The course evaluation included in each course must therefore take up the question how well the course agrees with the syllabus. The course is carried out in such a way that both men´s and women´s experience and knowledge is made visible and developed.

Planning and implementation of a course must take its starting point in the wording of the syllabus. The course evaluation included in each course must therefore take up the question how well the course agrees with the syllabus. 

The course is carried out in such a way that both men´s and women´s experience and knowledge is made visible and developed.

If special circumstances prevail, the vice-chancellor may in a special decision specify the preconditions for temporary deviations from this course syllabus, and delegate the right to take such decisions.

Department