Course: Microeconomics II

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Course title Microeconomics II
Course code MUE/1MI2E
Organizational form of instruction Lecture + Seminar
Level of course Master
Year of study not specified
Semester Winter
Number of ECTS credits 5
Language of instruction English, English
Status of course Compulsory, Compulsory-optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Course availability The course is available to visiting students
Lecturer(s)
  • Dohnalová Zuzana, doc. Ing. Ph.D.
  • Karolyová Denisa, Ing.
Course content
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.

Learning activities and teaching methods
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
prerequisite
Knowledge
Microeconomics I
Microeconomics I
learning outcomes
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
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
Knowledge
Lecturing
Lecturing
Methods for working with texts (Textbook, book)
Methods for working with texts (Textbook, book)
assessment methods
Written examination
Written examination
Grade (Using a grade system)
Grade (Using a grade system)
Recommended literature
  • PINDYCK, S.R., RUBINFELD L.D. Microeconomics. Eight edition. Pearson, 2013. ISBN 978-0-13-304170.
  • VARIAN, R.H. Intermediate Microeconomics a Modern Approach.. W.W. Norton & Company;, 2014. ISBN 0393920771.


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester