|
Lecturer(s)
|
-
Damborský Milan, doc. Ing. Ph.D.
|
|
Course content
|
How people make decisions, the economic cycle and the production possibilities frontier, Supply and demand, Elasticity of demand and supply, Government policy affecting supply and demand, Consumer and producer surplus, market efficiency, Costs of taxation and international trade, Externalities, public goods and common resources, tax system design, Costs of production, Firms in perfectly competitive markets, Monopoly, oligopoly and monopolistic competition, Factor markets, earnings and income distribution, Theory of consumer choice.
|
|
Learning activities and teaching methods
|
Lecturing, Methods for working with texts (Textbook, book)
- Participation in classes
- 52 hours per semester
- Preparation for course credit
- 52 hours per semester
- Term paper
- 40 hours per semester
- Preparation for examination
- 36 hours per semester
|
| prerequisite |
|---|
| Knowledge |
|---|
| Prerequisities are not set. |
| Prerequisities are not set. |
| Skills |
|---|
| Assumptions are not set. |
| Assumptions are not set. |
| learning outcomes |
|---|
| Knowledge |
|---|
| To explain why the market mechanism is the fundamental rational way to sustainably move towards optimal use of scarce resources and to decribe the situations where market mechanisms fail too. |
| To explain why the market mechanism is the fundamental rational way to sustainably move towards optimal use of scarce resources and to decribe the situations where market mechanisms fail too. |
| To describe how an individual's rational decision-making in choosing the quantity and structure of consumed goods leads to maximizing of a utility. |
| To describe how an individual's rational decision-making in choosing the quantity and structure of consumed goods leads to maximizing of a utility. |
| To define the mechanisms by which firms come to profit maximization and characterize the possibilities of increasing a firm's revenue or profit by changing the prices of goods using knowledge of elasticity and market structures. |
| To define the mechanisms by which firms come to profit maximization and characterize the possibilities of increasing a firm's revenue or profit by changing the prices of goods using knowledge of elasticity and market structures. |
| Characterize the impacts of government regulations on market equilibrium, decision-making by companies and consumers, including loss of their utility. |
| Characterize the impacts of government regulations on market equilibrium, decision-making by companies and consumers, including loss of their utility. |
| Skills |
|---|
| To design a firm's pricing strategy for various types of goods and market structures resulting from microeconomic models of firm and consumer behavior. |
| To design a firm's pricing strategy for various types of goods and market structures resulting from microeconomic models of firm and consumer behavior. |
| To identify deviations in company behavior from rational patterns driven by the need to maximize profit. |
| To identify deviations in company behavior from rational patterns driven by the need to maximize profit. |
| To identify deviations in consumer behavior from rational patterns given by the need to maximize utility. |
| To identify deviations in consumer behavior from rational patterns given by the need to maximize utility. |
| Identify the needness of government regulation for cases of various market structures other than perfect competition. |
| Identify the needness of government regulation for cases of various market structures other than perfect competition. |
| teaching methods |
|---|
| Knowledge |
|---|
| Lecturing |
| Lecturing |
| Practice exercises |
| Practice exercises |
| Methods for working with texts (Textbook, book) |
| Methods for working with texts (Textbook, book) |
| Skills |
|---|
| Individual work of students |
| Individual work of students |
| Text analysis |
| Text analysis |
| assessment methods |
|---|
| Knowledge |
|---|
| Analysis of seminar paper |
| Analysis of seminar paper |
| Preparation of a presentation |
| Preparation of a presentation |
| Analysis of the student's performance |
| Analysis of the student's performance |
| Written examination |
| Written examination |
| Grade (Using a grade system) |
| Grade (Using a grade system) |
| Oral examination |
| Oral examination |
|
Recommended literature
|
-
KRUGMAN, P. R., WELLS, R. Microeconomics, 6th ed. Worth Publishers. 2020.
-
MANKIW, N. G. Principles of Macroeconomics, 10th Edition. Cengage Learning, 2023. ISBN 978-0357722718.
-
SAMUELSON, P. A., NORDHAUS, W. D. Microeconomics, 20th ed.. MC GRAW HILL INDIA, 2021. ISBN 978-9354601187.
|