Microeconomics

  • Credits: 6
  • Ending: Examination
  • Range: 2P + 2C
  • Semester: winter
  • Year: 1
  • Faculty of Business Economics with seat in Košice

Teachers

Included in study programs

Business Economics and Management

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
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

Lectures:
1. Development of economic thinking
2. Subject and methodology of economic theory
3. Assumptions of the functioning of the economy. Economic laws
4. Market and market system
5. Market mechanism. Demand, offer. Formation of market equilibrium
6. Consumer behavior and demand creation
7. Elasticity of demand and supply
8. Theory of production and creation of supply
9. Behavior of the company in conditions of perfect competition
10. Causes of imperfect competition and balance of monopoly
11. Balance of the company in conditions of oligopoly and monopolistic competition
12. Market of production factors - Labor market. Land market. Capital market
13. Distribution of pensions and quality of life
Seminars:
1. Subject and methodology of economic theory - acquisition of basic terms on practical examples
2. Assumptions of the functioning of the economy. Economic laws - quantitative and graphical problems
3. Market and market system - market imperfections, externalities, public goods
4. Market mechanism. Demand offer. Formation of market equilibrium - quantitative and graphical tasks
5. Consumer behavior and demand generation - quantitative and graphical tasks
6. Elasticity of demand and supply - quantitative tasks
7. Costs, revenues and profit of the company.
8. Behavior of the company in conditions of perfect competition - graphic tasks
9. Causes of imperfect competition and balance of monopoly - graphic tasks
10. Equilibrium of the company in conditions of oligopoly and monopolistic competition - graphic tasks
11. Market of production factors - graphic tasks
12. Distribution of pensions and quality of life – work in groups with current data
13. Presentation of semester works.

Support 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.
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

Lectures: 1. Development of economic thinking 2. Subject and methodology of economic theory 3. Assumptions of the functioning of the economy. Economic laws 4. Market and market system 5. Market mechanism. Demand, offer. Formation of market equilibrium 6. Consumer behavior and demand creation 7. Elasticity of demand and supply 8. Theory of production and creation of supply 9. Behavior of the company in conditions of perfect competition 10. Causes of imperfect competition and balance of monopoly 11. Balance of the company in conditions of oligopoly and monopolistic competition 12. Market of production factors - Labor market. Land market. Capital market 13. Distribution of pensions and quality of life Seminars: 1. Subject and methodology of economic theory - acquisition of basic terms on practical examples 2. Assumptions of the functioning of the economy. Economic laws - quantitative and graphical problems 3. Market and market system - market imperfections, externalities, public goods 4. Market mechanism. Demand offer. Formation of market equilibrium - quantitative and graphical tasks 5. Consumer behavior and demand generation - quantitative and graphical tasks 6. Elasticity of demand and supply - quantitative tasks 7. Costs, revenues and profit of the company. 8. Behavior of the company in conditions of perfect competition - graphic tasks 9. Causes of imperfect competition and balance of monopoly - graphic tasks 10. Equilibrium of the company in conditions of oligopoly and monopolistic competition - graphic tasks 11. Market of production factors - graphic tasks 12. Distribution of pensions and quality of life – work in groups with current data 13. 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 lectures: 26 hours
• Attendance at seminars: 26 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: 14.02.2023

Date of the latest change: 21.01.2022