



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)



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. SouthWestern College Pub. 2012. Last update: Šumpíková Markéta (14.01.2021)



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)



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. Crosssubstitution 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 decisionmaking 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)



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)
