Microeconomics

Relations:

It is not possible to register for the course 32BE-P-MICR-01 if the student is concurrently registered for or has already completed the course 32BC-P-MIKR-01 (mutually exclusive courses).

It is not possible to register for the course 32BE-P-MICR-01 if the student is concurrently registered for or has previously completed the course 32BC-P-MIKR-01 (mutually exclusive courses).

It is not possible to register for the course 32BE-P-MICR-01 and for the course 32BC-P-MIKR-01 in the same semester.

Course guarantor:

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:

Class activity: 10 points; Credit written test (50% required): 30 points; Exam - written test: 60 points; Compulsory attendance min. 80% of exercises

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 2024/2025:

	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	roomDEJ:210 Makovský P. 12:30–14:00 (lecture parallel1) Dejvice
Thu	roomDEJ:302 Makovský P. 09:00–10:30 ODD WEEK (parallel nr.101) Dejvice
Fri

Time-table for summer semester 2024/2025:

Time-table is not available yet

The course is a part of the following study plans:

• B0413P050061 Ekonomika a management (profesní studijní program) - počínaje od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ101 Marketing) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ102 Personální management) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ103 Řízení firemních procesů) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ104 Účetnictví) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ105 Manažerská informatika) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ106 Obchodní podnikání) od ZS 2023/2024 (compulsory course, compulsory elective course)