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.

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.

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.

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

Zkouška: Student musí získat alespoň 50 % bodů z písemné zkoušky. V případě omezení v důsledku opatření školy se zkouška může konat ústně prostřednictvím MSTeams.

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.