Theory of the Firm

Lecturer:

Tutor:

Supervisor:

Department of Social Sciences

Synopsis:

This subject deals with detailed analysis of the theory of the firm which forms an important part pf the microeconomic theory. A lot of attention is paid to the relations between the firm and their consumers, elasticity of the demand and supply, analysis of costs - accounting and economic ones, and to to conditions of profit maximalisation of the firm in perfect and imperfect competition in a long and short period. Moreover we concentrate on calculation of costs, total profit of the firm, an equilibrium of the firm in conditions of perfect competition, oligopoly, monopoly and monopolistic competition. Theoretical basic knowledge is practised mainly through analysis of costs and conditions allowing the firm to maximize its profit in various market structures. The firm is analysed as a target subject of microeconomic (mainly structural) economic policy of the state and as a main component of the economic structure, too.

Requirements:

No prerequisites

Syllabus of lectures:

Syllabus of tutorials:

Study Objective:

The goal of this subject is to introduce students from various fields of studies to problems of the theory of the firm together with firms? position in the market economy and with connections and conditions of firms? cost analysis. Students should understand the key difference between economic and strictly accounting assessment of the firm in short and long period and to learn to evaluate firms? market power and their position in relation to the state, their consumers and their compettition.

Study materials:

Sekerka, B.: Mikroekonomie, matematické a kvantitativní základy. Professional Consulting 2002.

Note:

Further information:

No time-table has been prepared for this course

The course is a part of the following study plans: