SubjectsSubjects(version: 893)
Course, academic year 2021/2022
  
Microeconomics - AB501010
Title: Microeconomics
Guaranteed by: Department of Economics and Management (837)
Actual: from 2021
Semester: winter
Points: winter s.:6
E-Credits: winter s.:6
Examination process: winter s.:
Hours per week, examination: winter s.:2/2 C+Ex [hours/week]
Capacity: unknown / unknown (unknown)
Min. number of students: unlimited
Language: English
Teaching methods: full-time
Level:  
For type: Bachelor's
Note: course can be enrolled in outside the study plan
enabled for web enrollment
Guarantor: Šumpíková Markéta doc. Ing. Ph.D.
Is interchangeable with: B501010
Examination dates   Schedule   
Annotation
Last update: Šumpíková Markéta doc. Ing. Ph.D. (14.01.2021)
The course is focused on standard microeconomic analysis of pricing in the output and input markets. The attention is paid also to the market failures.
Literature -
Last update: Šumpíková Markéta doc. Ing. Ph.D. (14.01.2021)

English

R: Pindyck R., Rubinfeld D. Microeconomics, 9th edition. Prentice Hall. 2020.

A: Nicholson W., Snyder C M. Intermediate Microeconomics and Its Application, 12th edition. South-Western College Pub. 2012.

Requirements to the exam - Czech
Last update: Šumpíková Markéta doc. Ing. Ph.D. (12.09.2020)

To be admitted to the exam the student needs to obtain at least 50 % of the points in two written assessments during the semester. The first assessment has a weight of 35 % and the second assessment has a weight of 65 %. The second assessment may be retaken once.

Syllabus
Last update: Šumpíková Markéta doc. Ing. Ph.D. (12.09.2020)

1. Conditions for optimal choice in the markets of goods and services. Demand of Marshall and Hicks.

2. Analysis of demand with respect to prices. Substitution and income effect. Cross-substitution and cross- income effect. PCC function. Price elasticities.

3. Analysis of demand with respect to income. Engel’s expenditure function. Income elasticity.

4. Production and costs analysis in the short run.

5. Production and costs analysis in the long run.

6. Revenue analysis.

7. Profit maximization. Revenue maximization. The effect of changes in demand conditions, production and input prices on decision-making of firms.

8. Monopoly. Price discrimination.

9. Oligopoly. Price leadership. Cournot and Stackelberg models.

10. Monopolistic competition. The difference between the short run and the long run.

11. Profit maximization on the labor market.

12. Utility maximization and labor supply.

13. Market Failures

Course completion requirements -
Last update: Šumpíková Markéta doc. Ing. Ph.D. (12.09.2020)

To be admitted to the exam the student needs to obtain at least 50 % of the points in two written assessements during the semestre. The first assessement has a weight of 35 % and the second assessement has a weight of 65 %. The second assessement may be retaken once.

The student needs to obtain at least 50 % of points in a written exam. The exam may be oral via MSTeams in case contact exam is not possible due to policy measures.

 
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