autumn 2018

SOK-3008 Models for Market Analysis - 10 stp

Sist endret: 29.01.2019

The course is administrated by

Faculty of Biosciences, Fisheries and Economics

Studiested

Tromsø |

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

This course can be taken as a singular 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 contents

This course is an applied course in discipline of economics and marketing. The course is designed to give students sufficient background to formulate, estimate, and interpret theoretically consistent consumer demand relationships. Students taken this course should be able to do price analysis in different markets by using the classic demand modeling, namely the Rotterdam and Almost Ideal demand model. Furthermore, focus will be on quantitative models in marketing research, with emphasis on consumer choice models.

Objective 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 the utility tree.
  • Understand how the Rotterdam model is developed and estimated.
  • Understand how the Almost Ideal Demand System (AIDS) is developed and estimated.
  • Understand how other factors besides prices and income can be incorporated and estimated in both the Rotterdam and AIDS model.
  • Understand the property of hedonic/logistic model.
  • Understand the theory behind revealed preference data (such as sales and brand choice).
  • Understand how different choice models and duration models are developed and estimated.

 

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 consumer choice models based on revealed preference data.
  • Analyze the estimated results; discuss how consumer demand/choice is affected by prices, income, advertising etc.
  • Analyze the price premium for some product attributes and consumer choices.

 

Competence:

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

Language of instruction

English

Teaching methods

The course has multiple teaching approaches, lectures and seminars. The students need to be present at campus, and participate in lectures and group-work.

Assessment

A portfolio of obligatory term papers, on given topics on demand analysis and consumer choice models, and a project presentation.

Only one overall grade is given. A graded scale of five marks from A to E for pass and F for fail.

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

Schedule

Recommended reading/syllabus

Recommended reading/syllabus

No textbook is required. A reading list will be published at the beginning of the semester in UiTs LMS.