SubjectsSubjects(version: 953)
Course, academic year 2021/2022
  
Microeconomics - AB501010
Title: Microeconomics
Guaranteed by: Department of Economics and Management (837)
Faculty: Central University Departments of UCT Prague
Actual: from 2021 to 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 [HT]
Capacity: unknown / unknown (unknown)
Min. number of students: unlimited
State of the course: taught
Language: English
Teaching methods: full-time
Teaching methods: full-time
Level:  
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
This subject contains the following additional online materials
Annotation
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.
Last update: Šumpíková Markéta (14.01.2021)
Literature -

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.

Last update: Šumpíková Markéta (14.01.2021)
Requirements to the exam - Czech

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. Then, 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.

Last update: Pošta Vít (12.09.2023)
Syllabus

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

Last update: Šumpíková Markéta (12.09.2020)
Course completion requirements -

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. Then, 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.

Last update: Pošta Vít (12.09.2023)
 
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