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Lecturer(s)
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Dohnalová Zuzana, doc. Ing. Ph.D.
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Dobeš Kamil, Ing. Ph.D.
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Course content
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- Theory of consumer choice. - Dynamization of consumer demand model - Theory of production, production functions, technology choice, dynamization of producer´s decision making model, the role of technical change. - Theory of costs, costs in short and long run, traditional and modern theory of costs. Profit equation, revenues of the firm. - Perfect competition model, firm and market equilibrium in short and long run, profit and loose in the firm, dynamization of the model. - Theory of monopoly, comparison of monopoly and perfect competition, natural monopoly, dynamization of the model, price discrimination. - Theory of monopolistic competition, Chamberlin and space model of monopolistic competition, transaction costs economics. - Theory of oligopoly, cartel, Cournot model, Stackelberg model, price leadership model. Game theory. - Factor markets, supply and demand on factor markets, labour market, monopoly power on labour market, bilateral monopoly. - Capital market, interest rate, investment decision making, investment under risk. - General equilibrium theory, Walras model, Pareto model. - Market failure, causes and types of market failure, imperfect competition, public goods, externalities, Coase theorem. Theory of antitrust regulation. - The role of the state, public choice theory, microeconomic policy of the state.
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Learning activities and teaching methods
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Lecturing, Methods for working with texts (Textbook, book)
- Participation in classes
- 39 hours per semester
- Home preparation for classes
- 32 hours per semester
- Term paper
- 18 hours per semester
- Preparation for examination
- 40 hours per semester
- Preparation for course credit
- 20 hours per semester
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| prerequisite |
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| Knowledge |
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| describe the economic actors in different markets explain consumer decision-making using indifference analysis at an advanced level explain consumer behaviour under conditions of risk and uncertainty explain the maximising behaviour and decision-making of the firm under different types of competition describe the behaviour of market actors in factor markets explain the interconnectedness and efficiency of different markets using a simple economic model explain the social conflict between efficiency and equity |
| describe the economic actors in different markets explain consumer decision-making using indifference analysis at an advanced level explain consumer behaviour under conditions of risk and uncertainty explain the maximising behaviour and decision-making of the firm under different types of competition describe the behaviour of market actors in factor markets explain the interconnectedness and efficiency of different markets using a simple economic model explain the social conflict between efficiency and equity |
| Skills |
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| assess the behaviour of economic agents in different markets evaluate the functioning of the market mechanism and its impact on economic agents illustrate and describe maximising consumer behaviour under conditions of certainty illustrate and describe maximising consumer behaviour under conditions of risk and uncertainty illustrate and evaluate the optimising behaviour of a firm when deciding on the quantity of inputs to be used illustrate and evaluate the optimising behaviour of the firm in deciding the quantity and price of output under different types of competition. apply the basic analytical tools of microeconomics to describe and analyze real-world problems, while avoiding common analytical errors. assess the implications of changes in demand, costs, market structure, and basic changes in government economic policy |
| assess the behaviour of economic agents in different markets evaluate the functioning of the market mechanism and its impact on economic agents illustrate and describe maximising consumer behaviour under conditions of certainty illustrate and describe maximising consumer behaviour under conditions of risk and uncertainty illustrate and evaluate the optimising behaviour of a firm when deciding on the quantity of inputs to be used illustrate and evaluate the optimising behaviour of the firm in deciding the quantity and price of output under different types of competition. apply the basic analytical tools of microeconomics to describe and analyze real-world problems, while avoiding common analytical errors. assess the implications of changes in demand, costs, market structure, and basic changes in government economic policy |
| learning outcomes |
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| Knowledge |
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| to explain rational consumer behaviour using indifference analysis at an advanced level |
| to explain rational consumer behaviour using indifference analysis at an advanced level |
| to explain the firm's quantity and price maximisation decisions under different competitive conditions |
| to explain the firm's quantity and price maximisation decisions under different competitive conditions |
| describe the rational behaviour and decision-making of market actors in factor markets |
| describe the rational behaviour and decision-making of market actors in factor markets |
| explain the interconnectedness and efficiency of individual markets using general equilibrium principles. |
| explain the interconnectedness and efficiency of individual markets using general equilibrium principles. |
| describe the factors that distort market equilibrium and the efficient functioning of markets |
| describe the factors that distort market equilibrium and the efficient functioning of markets |
| Skills |
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| assess the behaviour of economic agents that create supply or demand in markets |
| assess the behaviour of economic agents that create supply or demand in markets |
| evaluate the functioning of the market process and the influence of market structure |
| evaluate the functioning of the market process and the influence of market structure |
| evaluate optimal consumer choice using indifference analysis when income and goods prices change |
| evaluate optimal consumer choice using indifference analysis when income and goods prices change |
| calculate and evaluate the profit maximization point under different types of competition |
| calculate and evaluate the profit maximization point under different types of competition |
| apply the basic analytical tools of microeconomics to describe and analyze real-world problems while avoiding common analytical errors |
| apply the basic analytical tools of microeconomics to describe and analyze real-world problems while avoiding common analytical errors |
| assess the conflict between the efficient functioning of markets and economic justice in society |
| assess the conflict between the efficient functioning of markets and economic justice in society |
| teaching methods |
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| Knowledge |
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| Lecturing |
| Lecturing |
| Methods for working with texts (Textbook, book) |
| Methods for working with texts (Textbook, book) |
| assessment methods |
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| Oral examination |
| Written examination |
| Written examination |
| Grade (Using a grade system) |
| Grade (Using a grade system) |
| Oral examination |
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Recommended literature
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Frank, R.H. Mikroekonomie a chování. Praha: Svoboda, 1995. ISBN 8020504389.
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HOLMAN, R. Mikroekonomie. Středně pokročilý kurz.. Praha: C.H. Back,, 2007. ISBN 978-80-7179-862-0.
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PINDYCK, S.R., RUBINFELD L.D. Microeconomics. Eight edition. Pearson, 2013. ISBN 978-0-13-304170.
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SOUKUPOVÁ, J., HOŘEJŠÍ, B., MACÁKOVÁ, I., SOUKUP, J. Mikroekonomie. Praha: Management Press, 2012. ISBN 978-80-7261-218-5.
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VARIAN, R.H. Intermediate Microeconomics a Modern Approach.. W.W. Norton & Company;, 2014. ISBN 0393920771.
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VARIAN, R.H. Mikroekonomie. Moderní přístup.. Praha: Victoria Publishing, 1993. ISBN 80-85865-25-4.
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