Application deadline

Applicants from Nordic countries: June 1st for the autumn semester and December 1st for the spring semester. Exchange students: October 1st for the spring semester and April 15th for the autumn semester. 

Exchange students are students from academic institutions with which UiT The Arctic University of Norway have formal exchange agreements.

Type of course

Admission requirements

A Bachelor's degree or equivalent in economics. (An example of an equivalent degree can be another bachelor's degree containing a minimum of 80 ECTS in economics.)

· The Norwegian grading system is an A-F scale in which A is the highest score and F is fail. An average grade C from a bachelor degree issued in Norway is the minimum requirement for admission to the master's level for students with Norwegian study background.

· Applicants who hold a bachelor's degree or equivalent issued in Europe, Canada, USA, Australia and New Zealand must have an average grade C as a minimum, or the corresponding numerical mark/percentage score to be considered for admission.

· Applicants who hold a bachelor's degree or equivalent issued in countries other than the above mentioned region/countries must have an average grade B as a minimum, or the corresponding numerical mark/percentage score to be considered for admission.

 Application code 9371

Course content

Objectives of the course

Objective of the course

Students who have successfully completed the course should have achieved the following learning outcomes:

Knowledge and comprehension:

• Understand more advanced consumer demand theory including Hicksian versus Marshallian demands, general market theory restrictions and utility tree.
• Understand how Rotterdam model is developed and estimated.
• Understand how Almost Ideal Demand System (AIDS) is developed and estimated.
• Understand how other factors besides prices and income can be incorporated and estimated in the Rotterdam and AIDS model.
• Understand the property of hedonic/logistic model.

Skills:

The course should prepare the student to:

• Collect data from main official data sources such as SSB, Eurostat and USDA.
• Estimate two classical demand models using time series data (Rotterdam and AIDS)
• Estimate demand model using survey data (either Logistic model or hedonic price model)
• Analyze estimated results; discuss how consumer demand is affected by prices, income, advertising and so on.
• Analyze the price premium for some product attributes and consumer choices.

Competence:

• Be able to use econometric tools to analyze applied consumer demand
• Be able to write up a good project report in market analysis by combining knowledge and skills of collecting data, estimating the statistic model, analysis and discussion.

Language of instruction and examination

Teaching methods

Assessment

First home assignment:
Rotterdam Model Estimation 40%

Second take-home assignment: 60%
AID Model Estimation, or Logistic Model/Hedonic Model Estimation 60%.

Two small obligatory homework will be also included, but not graded.

There will not be arranged a re-sit exam for this course.

A graded scale of five marks from A to E for pass and F for fail.

Place of exam: Tromsø

Recommended reading/syllabus