SOK-3008 Models for Market Analysis - 10 ECTS
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
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.
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.
- 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.
- About the course
- Campus: Tromsø |
- ECTS: 10
- Course code: SOK-3008
- Responsible unit
- Handelshøgskolen ved UiT