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Lecturer(s)
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Alina Jiří, Ing. Ph.D.
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Volek Tomáš, doc. Ing. Ph.D.
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Course content
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Lecture Topics: 1. Introduction to Economics. The economic cycle, division of labor, exchange. 2. Supply and Demand. 3. Market Equilibrium. 4. Utility Theory. The consumer and utility. Elasticity 5. Firm Production, Short Run and Long Run. 6. Firm Costs. Firm Revenues. Profit. 7. Perfect competition. Production optimum, break-even point, 8. Minimizing losses in the short run (shutdown point), alternative firm objectives. 9. Imperfect competition and its main causes. Firms under monopoly 10. Firms under oligopoly and monopolistic competition. 11. The market for factors of production. Firm behavior and the formation of supply. 12. Income and wealth. Inequalities in distribution, their measurement, and redistribution processes. 13. Externalities, public goods, market failure.
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing)
- Preparation for exam
- 42 hours per semester
- Preparation for classes
- 56 hours per semester
- Class attendance
- 42 hours per semester
- Preparation for credit
- 28 hours per semester
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Learning outcomes
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The objective of the course is to provide a complex theoretical basis for applied economics disciplines and to deepen and expand students´ knowledge acquired in macroeconomics and microeconomics. The first part of the course is aimed at the field of microeconomics. The second part is focused on deepening knowledge of basic macroeconomics.
Students understand the basic principles of microeconomics theory. Students know economic principles explaining the consumer behavior, company activities and theoretic basis, which will be used in other courses.
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Prerequisites
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There is no prerequisite for the course of Microeconomics (MAE).
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Assessment methods and criteria
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Combined exam
Course Credit prior to exam: The requirements for earning course credit are as follows: - Active participation in class sessions - Course credit test (minimum passing score of 60%). Exam: The exam is a combination of written and oral components. The written portion consists of fill-in-the-blank questions, multiple-choice questions, a graph, and a short example; the minimum passing score for the written portion is 60%. Upon successful completion of the test, the oral portion of the exam follows, consisting of questions on the subject matter. The course topics are available in the e-learning system. For the Microeconomics 1 course, a course has been created in the e-learning system that specifies the formal and substantive requirements for the credit and the exam.
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Recommended literature
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Krugman, Paul R.; Wells, Robin. Microeconomics. 3rd ed. New York: Worth Publishers, 2013. ISBN 978-1-4292-8342-7.
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Mankiw, N. Gregory. Principles of economics. Seventh edition. Stamford: Cengage Learning, 2015. ISBN 978-1-285-16587-5.
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Samuelson, Paul Anthony; Nordhaus, William D.,; Gregor, Martin. Ekonomie. 19. vydání. Praha: NS Svoboda, 2013. ISBN 978-80-205-0629-0.
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