Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


This class has the objective of developing microeconomic theory for policymaking and market design. The material is applied to policy cases including regulations in telecommunication, competition law, insurance markets, environmental problems, patents and intellectual property, and market designs for the energy sector.  The students learn the basic conceptual motivations for policy designs, become familiar with the main policy questions in the sectors considered, and acquire analytical and reporting skills.

Credits: 6

Schedule: 01.11.2021 - 13.12.2021

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Matti Liski, William Ogden

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English


  • valid for whole curriculum period:

    Deviations from the competitive outcomes due to externalities, private information, imperfect competition, and missing markets. Policy solutions introduced conceptually and through real cases. Expert lectures on issues in specific sectors.

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Exercises: 3 home exercises passed
    Readings: 4 assignments passed
    Case study: scoring 0-5, 40 % of the grading
    Exam: scoring 0-5, 60 % of the grading

  • valid for whole curriculum period:

    The course has 4 learning elements: lectures, reading assignments, exercises, and case study.

    Lectures (24 h)
    Conceptual background
    Applications and cases introduced

    Reading (30 h)
    readings on well-framed problems with real-case connections
    Readings and own search
    3-5 questions to be analyzed
    Presenting and debating the outcome in the class

    Problem sets (24 h)
    Learning methods and applying to cases
    Introduced and discussed in groups during the class
    3 x 1 compulsory home exercises

    Case study (66 h)
    Analyze a case with a topic covered during the course
    Write a 10-12-page report


Study Material
  • valid for whole curriculum period:

    To be assigned.

    Other readings assigned during the course.

Substitutes for Courses
SDG: Sustainable Development Goals

    8 Decent Work and Economic Growth


Further Information
  • valid for whole curriculum period:

    This course replaces course 31E12100 Microeconomics: Policy.

    Starting study year 2017-2018 this course is the Capstone course in the Master's Programme in Economics. Students of the Master's Programme in Economics who have started their master's level studies 1.8.2017 or after that or haven't completed the course 31E12100 Microeconomics: Policy before will complete this course as their Capstone course.

    Credit transfer and capstone course

    With legitimate grounds (e.g. exchange studies abroad, serious illness working life and its restraints is not considered a legitimate reason to not complete the capstone course), the student can apply for a credit transfer for a capstone course. However, as a deviation from the common process of credit transfer at the School of Business, the application for credit transfer must be submitted before completing the course represented to substitute the capstone course at the School of Business. The credit transfer should be applied for according to the credit transfer instructions depicted at Into: Based on the credit transfer application, the teacher in charge of the capstone course will decide whether the learning goals for the capstone course can be fulfilled by completing the course the student has represented to substitute the capstone course. The substituting course cannot be a School of Business course.

    Teaching Period:

    2020-2021 Autumn II

    2021-2022 Autumn II

    Course Homepage:

    Registration for Courses: In the academic year 2021-2022, registration for courses will take place on Sisu ( instead of WebOodi.