Economics for Political Science Majors
30.0 ECTS creditsThe course comprises two modules, Microeconomy (15 ECTS cr) and Macroeconomy (15 ECTS cr).
Module 1 Microeconomy (15 ECTS cr)
The microeconomy module includes two parts. The first part begins with a presentation of basic economic issues and a discussion of what economics actually is. Then follows discussion of how the interplay of consumers and producers determines prices, production, and consumption in a free market, the efficiency of economic systems, different obstacles to efficiency such as pollution and deficiencies in competition, and various economic and political interventions in a market economy. The second part of the module applies consumption theory to describe different types of individual decisions. The notion of humans as rational maximisers of benefits is discussed, as well as the critical approach in psychology called behavioural economics. Theoretical models are applied to various decision-making situations and markets, and several examples of modern empirical research are studied.
Module 2 Macroeconomy (15 ECTS cr)
The macroeconomy module includes two parts. The first part starts with national budgets, followed by market rates of interest and exchange rates. One explanatory model of economic cycles is presented and stabilisation policy and macroeconomic schools are discussed. The second part of the module treats the forces behind international trade and the gains of an international division of labour. The causes and consequences of international factor mobility, of both capital and work, are discussed. Trade policy interventions are treated and the reasons for protectionism are discussed. The reasons for some countries being poor and others rich are discussed, as well as the policy and economy of economic aid.
Module 1 Microeconomy (15 ECTS cr)
The microeconomy module includes two parts. The first part begins with a presentation of basic economic issues and a discussion of what economics actually is. Then follows discussion of how the interplay of consumers and producers determines prices, production, and consumption in a free market, the efficiency of economic systems, different obstacles to efficiency such as pollution and deficiencies in competition, and various economic and political interventions in a market economy. The second part of the module applies consumption theory to describe different types of individual decisions. The notion of humans as rational maximisers of benefits is discussed, as well as the critical approach in psychology called behavioural economics. Theoretical models are applied to various decision-making situations and markets, and several examples of modern empirical research are studied.
Module 2 Macroeconomy (15 ECTS cr)
The macroeconomy module includes two parts. The first part starts with national budgets, followed by market rates of interest and exchange rates. One explanatory model of economic cycles is presented and stabilisation policy and macroeconomic schools are discussed. The second part of the module treats the forces behind international trade and the gains of an international division of labour. The causes and consequences of international factor mobility, of both capital and work, are discussed. Trade policy interventions are treated and the reasons for protectionism are discussed. The reasons for some countries being poor and others rich are discussed, as well as the policy and economy of economic aid.
Progressive specialisation:
G1N (has only upper‐secondary level entry requirements)
Education level:
Undergraduate level
Admission requirements:
General admission requirements plus either upper secondary level Mathematics 2a or 2b or 2c and Civics 1b or 1a1 + 1a2 or upper secondary level Mathematics B and Civics A, and at least 15 ECTS credits completed in SVGA50 Political Science A (30 ECTS credits), or equivalent
Selection:
Selection is usually based on your grade point average from upper secondary school or the number of credit points from previous university studies, or both.
This course is included in the following programme
- Political Science (studied during year 1)
- Bachelors Programme in Political Science (studied during year 1)