Course objectives:
|
The aim of this course is to: familiarize students with basic knowledge of market mechanism functioning and behavior of individual market subjects - consumers, firms and state (from the microeconomic point of view); explain real economic phenomena and processes at the level of partial markets
|
Requirements on student
|
Credit prerequisites: (a) to use acquired knowledge during seminars, (b) successfully passed credit test /at least at 70 % of maximum possible points/, (c) to formulate seminar work focused on selected economic theme.
|
Content
|
Consumer decision-making principles, theoretical approaches (ordinalist and cardinalist version); consumers equilibrium.
Theory of demand, demand elicitation and determinants of demand in short- and long run; Engels curve; price-, income- and cross elasticity of demand; consumers surplus; demand analysis: usually used functions.
Consumption and leisure time trade-off; trade-off between current and future consumption; alternative theories of consumer behavior: revealed preferences.
Firm; firm objectives; production and production function; returns to scale; factors of production optimal combination; profit maximization in short- and long run; alternative company objectives; Baumol model; social costs and supply.
Production-possibility frontier; international trade; absolute and comparative advantages; sources of comparative advantages; market protection; movement of production factors among countries.
Market equilibrium and price; changes of market equilibrium; price regulations and subventions; taxes; license and production quota.
Accomplished and imperfect markets; price creation on an imperfect market; price discrimination; graduated prices; monopolistic competition; Chamberline model.
Oligopoly; cartel; Cournot and Stackelberg model of duopoly; Bertrand oligopoly model; Nash equilibrium.
Monopoly and causes of its formation; natural monopoly; antimonopoly policy.
Market of production factors and specifications of partial markets-job market, land market and capital market.
General market equilibrium; production efficiency; distribution efficiency; Pareto optimality; conditions of market efficiency.
Public goods and public choice; public sector; causes of existence and demand for public goods; public choice; public sector equilibrium; effective providing of public goods.
Consumer choice under risk.
|
Activities
|
|
Fields of study
|
|
Guarantors and lecturers
|
|
Literature
|
-
Basic:
Soukup, Jindřich. Mikroekonomická analýza (vybrané kapitoly). 1. vyd. Slaný : Melandrium, 1999. ISBN 80-86175-07-3.
-
Basic:
SOUKUPOVÁ, J.; HOŘEJŠÍ, B.; MACÁKOVÁ, L.; SOUKUP, J. Mikroekonomie. 3.doplněné vydání. Praha: Management Press, 2005.
-
Recommended:
Holman, Robert. Dějiny ekonomického myšlení. Vyd. 1. Praha : C.H. Beck, 1999. ISBN 80-7179-238-1.
-
Recommended:
Introductory Mathematics for Economists with Matlab
(Fan Wang)
-
Recommended:
Macáková, Libuše. Mikroekonomie II : cvičebnice. 3., upr. vyd. Slaný : Melandrium, 2003. ISBN 80-86175-28-6.
-
Recommended:
Macáková, Libuše; Soukupová, Jana. Mikroekonomie repetitorium : středně pokročilý kurs. 2. vyd. Slaný : Melandrium, 1998. ISBN 80-86175-01-4.
-
On-line library catalogues
|
Time requirements
|
All forms of study
|
Activities
|
Time requirements for activity [h]
|
Graduate study programme term essay (40-50)
|
40
|
Contact hours
|
39
|
Preparation for comprehensive test (10-40)
|
25
|
Total
|
104
|
|
Prerequisites
|
Knowledge - students are expected to possess the following knowledge before the course commences to finish it successfully: |
explain the basic microeconomic models |
describe the principles of partial markets' woriking |
explain fundamental microeconomic variables |
study the information of the basic course of microeconomics KEM / EK1 |
Skills - students are expected to possess the following skills before the course commences to finish it successfully: |
distinguish the basic microeconomic approaches according their assumptions |
interpret the values of microeconomic variables |
estimate the change in behavior of microeconomic subjects with respect to the the change of the parameter of the model |
Competences - students are expected to possess the following competences before the course commences to finish it successfully: |
N/A |
|
Learning outcomes
|
Knowledge - knowledge resulting from the course: |
explain the methodology of modern microeconomics |
explain intermediate microeconomic models |
explain in detail the principles of partial markets working |
describe advanced relationships between microeconomic variables |
Skills - skills resulting from the course: |
analyze intermediate microeconomic model from the points of view of their content and their form |
apply intermediate microeconomic theories to real situations |
distinguish and formulate basic conceptual framework of recent microeconomic approaches |
Competences - competences resulting from the course: |
N/A |
N/A |
|
Assessment methods
|
Knowledge - knowledge achieved by taking this course are verified by the following means: |
Test |
Skills - skills achieved by taking this course are verified by the following means: |
Skills demonstration during practicum |
Competences - competence achieved by taking this course are verified by the following means: |
Seminar work |
|
Teaching methods
|
Knowledge - the following training methods are used to achieve the required knowledge: |
Lecture |
One-to-One tutorial |
Self-study of literature |
Skills - the following training methods are used to achieve the required skills: |
Practicum |
Competences - the following training methods are used to achieve the required competences: |
Self-study of literature |
|