Microeconomics
- Ending: Examination
- Range: 20sP
- Semester: winter
- Year: 2
- Faculty of Business Economics with seat in Košice
Teachers
Included in study programs
Teaching results
The aim of the course is to master the basic principles and assumptions of the functioning of the economy in various economic systems. The focus of the study is to understand the nature of the functioning of the market and the market mechanism based on a thorough analysis of the factors determining demand and supply. This allows students to understand how market equilibrium is created in the market, the equilibrium price and how, and why imbalances in the market arise. Based on current knowledge, students will understand how economic entities behave in conditions of perfect competition and imperfect competition.
Knowledge:
• about demand, supply, elasticity of demand and supply, cardinal and coordinate theory of utility. consumer balance, market competition, shortcomings and market imperfections,
• about the theory of the company, the formation of the offer, the costs of the company, the balance of the company in perfect and imperfect competition,
• about market of production factors, income distribution and quality of life.
Skills:
• draw curves, shifts of curves
• express and present attitudes and opinions in solving microeconomic problems
• search for, process, analyze and evaluate microeconomic information developments from various sources and apply the conclusions to practical case studies.
Competences:
• ability to think abstractly, analytically and economically, especially through the connection of theoretical knowledge with practical examples
• ability to systematize knowledge in relation to other subjects
• ability to take own microeconomic positions and evaluations
Indicative content
Consultations:
Development of economic thinking. Subject and methodology of economic theory. Assumptions of the functioning of the economy. Economic laws. Market and market system. Market mechanism. Demand, offer. Formation of market equilibrium. Consumer behavior and demand creation. Elasticity of demand and supply. Theory of production and creation of supply. Behavior of the company in conditions of perfect competition. Causes of imperfect competition and balance of monopoly. Balance of the company in conditions of oligopoly and monopolistic competition. Market of production factors - Labor market. Land market. Capital market. Distribution of pensions and quality of life
Self-study:
Subject and methodology of economic theory - acquisition of basic terms on practical examples. Assumptions of the functioning of the economy. Economic laws - quantitative and graphical problems. Market and market system - market imperfections, externalities, public goods. Market mechanism. Demand offer. Formation of market equilibrium - quantitative and graphical tasks. Consumer behavior and demand generation - quantitative and graphical tasks
Elasticity of demand and supply - quantitative tasks. Costs, revenues and profit of the company. Behavior of the company in conditions of perfect competition - graphic tasks. Causes of imperfect competition and balance of monopoly - graphic tasks. Equilibrium of the company in conditions of oligopoly and monopolistic competition - graphic tasks. Market of production factors - graphic tasks. Distribution of pensions and quality of life - work with current data. Preparation for presentation of semester works.
Support literature
Elementary literature:
1. MUCHOVÁ, E. a kol. Základy ekonómie, Bratislava: Wolters Kluwner, a.s. 2021.
2. HOLKOVÁ, V. – VESELKOVÁ, A.: Mikroekonómia. Bratislava: Wolters Kluwer, a.s., 2020.
3. MARASOVÁ, J. - HOREHÁJOVÁ, M. - MAZÚROVÁ, B. - HOREHÁJ, J.: Princípy mikroekonómie. Bratislava: Wolters Kluwer, a.s., 2019
4. FENDEKOVÁ, E. – FENDEK, M.: Mikroekonómia: Oligopoly a regulované monopoly. Bratislava: Wolters Kluwer, a.s., 2018.
5. JUREČKA, V. a kol.: Mikroekonomie. Praha: Grada. 2018
6. LISÝ, J. a kol.: Ekonómia. Bratislava: Wolters Kluwer, a.s., 2016.
7. HOŘEJŠÍ, B. - MACÁKOVÁ, L. - SOUKUP, J. - SOUKUPOVÁ, J.: Mikroekonomie. 6. vydání, Praha: Management Press, ALBATROS MEDIA a.s., 2018.
8. KRUGMAN, P. – WELLS, R.: Microeconomics. Macmillan Education. 2021
9. STEVENSON, B. – WOLFERS, J.: Principles of Microeconomics. Macmillan Education. 2020
10. MANKIW, N. G.: Principles of Microeconomics (Mankiw's Principles of Economics). 7th edition. South-Western College Pub. 2020
11. SCHILLER, B. – GEBHARDT, K.: The Micro Economy Today. 15th Edition, Kindle Edition. 2019.
Supplementary literature:
12. MAZÚROVÁ, B. - KOLLÁR, J. – Považanová, M.: Princípy mikroekonómie – cvičebnica. Bratislava: Wolters Kluwer, a.s., 2020.
13. FENDEKOVÁ, E. a kol.: Mikroekonómia: zbierka príkladov. Bratislava: Wolters Kluwer, a.s., 2019.
14. ROZBORILOVÁ, D. a kol.: Ekonómia praktikum. Ekonomická teória 1. Bratislava: Wolters Kluwer, a.s., 2018.
15. LISÝ, J. - ČAPLANOVÁ, A. – VONGREJ, M.: Dejiny ekonomických teórií. Bratislava: Wolters Kluwer, a.s., 2018.
16. HOREHÁJOVÁ, M. – MARASOVÁ, J.: Mikroekonómia 2 – teória spotrebiteľa. Bratislava: Wolters Kluwer, a.s., 2014.
17. HOREHÁJ, J.: Trh a jeho deformácie štátom. Bratislava: Wolters Kluwer, a.s., 2014.
Syllabus
Consultation: Development of economic thinking. Subject and methodology of economic theory. Assumptions of the functioning of the economy. Economic laws. Market and market system. Market mechanism. Demand, offer. Formation of market equilibrium. Consumer behavior and demand creation. Elasticity of demand and supply. Theory of production and creation of supply. Behavior of the company in conditions of perfect competition. Causes of imperfect competition and balance of monopoly. Balance of the company in conditions of oligopoly and monopolistic competition. Market of production factors - Labor market. Land market. Capital market. Distribution of pensions and quality of life Self-study: Subject and methodology of economic theory - acquisition of basic terms on practical examples. Assumptions of the functioning of the economy. Economic laws - quantitative and graphical problems. Market and market system - market imperfections, externalities, public goods. Market mechanism. Demand offer. Formation of market equilibrium - quantitative and graphical tasks. Consumer behavior and demand generation - quantitative and graphical tasks Elasticity of demand and supply - quantitative tasks. Costs, revenues and profit of the company. Behavior of the company in conditions of perfect competition - graphic tasks. Causes of imperfect competition and balance of monopoly - graphic tasks. Equilibrium of the company in conditions of oligopoly and monopolistic competition - graphic tasks. Market of production factors - graphic tasks. Distribution of pensions and quality of life - work with current data. Preparation for presentation of semester works.
Requirements to complete the course
Seminars – total of 40%, of which:
1. results of semester test 1 (theoretical questions, quantitative and graphical tasks) – 15%
2. results of semester test 2 (theoretical questions, quantitative and graphical tasks) – 15%
3. semestral work – 10%
Exam – total 60%
Student workload
• Attendance at consultations: 20 hours
• Self-study: 32 hours
• Preparation of semester work: 13 hours
• Preparation for semester tests: 26 hours
• Preparation for the exam: 65 hours
Total: 156 hrs.
Language whose command is required to complete the course
Slovak
Date of approval: 15.02.2023
Date of the latest change: 25.01.2022