Principles of Economics (5 cr)

Evaluation scale

H-5

Content scheduling

•basic concepts and explanatory models of economics
•market structures and the modes of competition
•income and output of nations; macroeconomic data, output determination, fiscal policy, foreign trade
•money and banking, interest rates, aggregate demand and output
•aggregate supply, inflation and unemployment

Objective

After completing this course the student is able
- to interpreteconomic information, news or media
- to explain the fundamental concepts in economics
- to usethe terminology correctly in speech and writing
- to negotiate for financing

Content

- basic concepts and explanatory models of economics
- market structures and the modes of competition
- income and output of nations; macroeconomic data, output determination, fiscal policy, foreign trade
- money and banking, interest rates, aggregate demand and output
- aggregate supply, inflation and unemployment

Materials

voluntary e-book
https://saylordotorg.github.io/text_economics-theory-through-applications/index.html

Completion alternatives

none

Student workload

The course consist two main element.
1.Individual study and exam. (weight 1)
2. Assignment (group work) (weight 1)
a) Study about economists (eval. pass/fail)
b) Economy Metric (eval. 1-5)
Both elements are graded 1-5. => Grade to total course.
50% study from the book / 90 hours
50% work on applied questions / 40 hours

Evaluation methods and criteria

The course is evaluated by two main elements.
1.Individual study / Exam (weight 1)
2.Assignment (weight 1)
a) Study about economists (eval. pass/fail). Pass prerequisite to get evaluated 2b)
b) Economy Metric (eval. 1-5)

Both elements are graded 1-5. => Average grade to total course.
Peer evaluation in use in assignments => impact one step up/down

Failed (0)

Exam points <50%
and/or
Assignments not accomplished according to instructions

Assessment criteria, satisfactory (1-2)

Level 1:
- at least 50% from exam total points
- assignments done according to instructions and evaluated with minimum requirement pass

Assessment criteria, good (3-4)

Level 3:
- at least 70% from exam total points
- active attitude and used own thinking & analysis in all work and study in the course
- assignments done according to instructions and evaluated with minimum requirement pass

Assessment criteria, excellent (5)

Level 5:
- at least 90% from exam total points
- active attitude and applying analysis & own thinking professionally
- assignments done according to instructions and evaluated with minimum requirement pass