Microeconomics

  • Credits: 6
  • Ending: Examination
  • Range: 2P + 2C
  • Semester: winter
  • Year: 1
  • Faculty of Economics and Finance

Teachers

Included in study programs

Management of Public Policies

Law and Economics

Teaching results

Knowledge:
• Theoretical knowledge about rational consumer decision-making and their preferences in various consumer situations, the formation of demand and the factors affecting demand,
• Understanding theories of the firm, goals of the firm and decisions about price and output in perfect competition, monopoly, oligopoly and monopolistic competition,
• Understanding the concept of general equilibrium and efficiency in the context of market failures,
Competencies and skills:
• The ability to assess behavior of consumers and firms in different market situations using tools of microeconomic analysis,
• Analytical skills to evaluate the effects of government intervention to address market failures and the ability to apply knowledge of microeconomics in economic practice,
• Ability to work in teams and presentation skills.

Indicative content

LECTURES
1. Introduction to microeconomics, methods and tools of microeconomic analysis
2. Microeconomic theory of consumer, consumer equilibrium
3. Formation of market demand and elasticity of demand
4. Decision-making under risk and uncertainty
5. Theory of the firm and production analysis
6. Costs of production
7. Perfect competition, competitive market and the decision-making of the firm
8. Decision-making of the firm in imperfectly competitive market structures – monopoly
9. Oligopoly
10. Monopolistic competition
11. Factors market, decision-making of the firm on the factors markets
12. General equilibrium, efficiency, equity, trade-off between equity and efficiency, social welfare, income and wealth
13. Market failures and the role of the government to deal with market failures
SEMINARS
1. Introduction to microeconomics, methods and tools of microeconomic analysis
2. Microeconomic theory of consumer
3. Formation of market demand and elasticity of demand
4. Decision-making under risk and uncertainty
5. Theory of the firm and production analysis
6. Technology and Costs
7. Firm in a competitive market
8. Decision-making process of a firm in imperfectly competitive markets – monopoly
9. Risk and Game theory
10. Monopolistic competition and oligopoly
11. Factors market, decision-making of the firm on the factors market
12. Market failures, externalities
13. Asymmetric information, public goods

Support literature

1. Holková, V. - Veselková A.: Mikroekonómia. Praha: WoltersKluwer, 2020.
2. Banerjee, S.: Intermediate Microeconomics: A Tool-Building Approach, 2nd edition, Routledge, 2021, SBN 9780367245351
3. Holman, R.: Mikroekonomie. Praha : Nakladatelství C. H. Beck, 2002.
4. Nicholson, W.: MicroeconomicTheory:basic principles and extensions. (Cincinnati), South - Western, Thomson Learning, 2002.
5. Frank, H. Robert: Mikroekonomie a chování. Praha : Nakladatelství Svoboda, 1995.
6. Macáková, L. a kol. Mikroekonomie II. Praha : Melandrium, 2008.
7. Parkin Michael: Microeconomics (tenthedition), PearsonEducationLimited, Edinburg Gate, Harlow, Essex CM20 2JE, England, 2012.

Requirements to complete the course

Requirements to complete the course:
13 % - activity in seminars
20 % - group case study
17 % - mid-term test
60 % - written exam

Date of approval: 11.03.2024

Date of the latest change: 07.04.2021