Microeconomics
| Code | Completion | Credits | Range | Language |
|---|---|---|---|---|
| 32BE-P-MICR-01 | Z,ZK | 4 | 2P+1C | English |
- Garant předmětu:
- Petr Makovský
- Lecturer:
- Petr Makovský
- Tutor:
- Petr Makovský
- Supervisor:
- Institute of Economic Studies
- Synopsis:
-
The lectures consist of topics that represent current microeconomic problems. The issue is viewed not only from the perspective of market participants, households, and companies, but also from the perspective of the government. Modern technologies have deeply influenced the way households decide on the optimal consumer basket and companies decide on the effective allocation of scarce resources. However, there are still valid rules and principles that remain unchanged for microeconomic entities. For households, it is about maximizing the total utility achieved. For companies, this is a profit motivation in an environment of sometimes too predatory competition and other times in an environment of
barriers to entry into the industry (too high monopoly power). The last player in microeconomic relations is the government, which uses its tools to achieve its goals. Sometimes it is an efficient allocation of scarce resources in the context of competition; other times, it is about social justice and equal opportunities.
- Requirements:
-
Students must get at least 50% on the written exam in order to successfully complete their studies. Only those students are allowed to take the written test who have gained credit for the exercises. Exercise participation is controlled. It's not required to attend lectures.
- Syllabus of lectures:
-
Topic No. 1 Markets, Market participant, Markets interaction
Topic No. 2 Theory of the consumer, cardinalistic, and ordinalistic utility
Topic No. 3 Theory of the consumer, demand
Topic No. 4 Theory of the firm, choice of technology in the short run
Topic No. 5 Theory of the firm, choice of technology in the long run
Topic No. 6 Theory of the firm, cost analysis in the short run
Topic No. 7 Theory of the firm, Cost analysis in the long run
Topic No. 8 Theory of the firm, revenues, profit analysis
Topic No. 9 Theory of competing companies
Topic No. 10 Oligopoly, Monopoly
Topic No. 11 Imperfect Competitive Market Structure
Topic No. 12 Labor markets, capital markets
Topic No. 13 Market Failures and government failures
- Syllabus of tutorials:
-
Topic No. 1 Theory of the Consumer, Utility Maximization
Topic No. 2 Theory of the consumer, demand Theory of firm, choice of technology in the long run
Topic No. 3 Theory of the firm: Choice of technology and costs analysis in the short run
Topic No. 4 Firm theory: choice of technology and costs analysis
Topic No. 5 Imperfect competitive market structures
Topic No. 6 Monopoly, oligopoly
Topic No. 7 Labor markets, Capital markets
- Study Objective:
-
The study objective of the course is to familiarize the students with the principles of microeconomic theory (basic level).
- Study materials:
-
Basic literature:
MANKIW, N.G. (2020). Principles of economics. Cengage Learning.
Recommended literature:
NICHOLSON, W., SNYDER, C.M. (2014). Intermediate microeconomics and its application. Cengage Learning.
- Note:
- Time-table for winter semester 2023/2024:
-
06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon Tue Wed Thu Fri - Time-table for summer semester 2023/2024:
- Time-table is not available yet
- The course is a part of the following study plans: