The Applied Theory of Price

Course guarantor:

Jana Hrbková

Lecturer:

Jana Hrbková

Tutor:

Jana Hrbková

Supervisor:

Department of Social Sciences

Synopsis:

This subject presents inter-mediate course of the theory of prices. Using mainly solving of practical problems it informs students about some of microeconomic topics, for example: analysis of supply & demand, market structures, rational decisions, cost analysis, theory of production, markets of factors of production.

Requirements:

Syllabus of lectures:

1. Introduction to microeconomic principles, including markets and market equilibrium.

2. Supply and demand elasticity. Consumer theory: preferences, utility, and consumer equilibrium.

3. Production theory: production functions, short-term and long-term costs, company income, and profit maximization strategies.

4. Managerial cost concepts.

5. Characteristics of market structures, firms in perfect and imperfect competition.

6. Corporate financing.

7. Factor markets: production factors and their price determination. Capital market.

8. The labor market and wage determination.

9. The market for land and natural resources.

10. Understanding money and its role in the money market.

11. Externalities and public goods: impact and management.

12. The effects of government intervention and inflation on companies and the business environment.

13. Repetition, summary, and practice.

Syllabus of tutorials:

Study Objective:

The goal of this course is to introduce students to logical thinking about economic problems and finding of connections among economic phenomena. Solving of problems should not only simplify rather complicated economic reality but serve at the same time as a starting point for a correct analysis of economic problems and as a mean for extrapolating correct conclusions from economic phenomena.

Study materials:

HOLMAN, R.: Mikroekonomie-středně pokročilý kurz. 2. vydání. Praha: C. H. Beck 2007. ISBN 978-80-7179-862-0.

JUREČKA, V. a kol.: Mikroekonomie. 1. vydání. Praha: Grada Publishing 2010. ISBN 978-80-247-3259-6.

HRBKOVÁ, J. a kol.: Základy ekonomické teorie II. (Mikroekonomická teorie). Praha: Vydavatelství ČVUT 2000. ISBN 80-01-02186-6.

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	roomTH:B-879 17:00–18:50 (lecture parallel1) Thákurova 7 (budova FSv)
Thu
Fri

Time-table for summer 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	roomTH:B-879 14:00–15:50 (lecture parallel1) Thákurova 7 (budova FSv)
Thu
Fri

The course is a part of the following study plans: