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Lecturer(s)
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Faltová Leitmanová Ivana, doc. Ing. CSc.
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Alina Jiří, Ing. Ph.D.
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Course content
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The course should deepen knowledge from course Microeconomics 1. Lectures and seminars topics: Theory of Consumer Behaviour and Market Demand Theory of Production in the Short-Run and the Long-Run Costs Perfect Competition Imperfect Market Structures and the Price Discrimination Applications of Game Theory Alternative Theories of Firm Behaviour Factor Pricing under Perfect Competition Factor Pricing under Imperfect Competition The Intertemporal Choice Model Edgeworth Box-Diagrams and General Equilibrium Theory Economics of Risk and Uncertainty Welfare Economics, Efficiency and Justice
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing)
- Preparation for classes
- 28 hours per semester
- Preparation for credit
- 28 hours per semester
- Class attendance
- 42 hours per semester
- Semestral paper
- 14 hours per semester
- Preparation for exam
- 56 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 both deepen and expand students´ knowledge acquired in the first year of their studies within the course of Microeconomics I. The first part of the course is aimed at the presentation of a consumer´s decison-making and the theory of production in the short-run and the long-run. The second part is focused on various market structures with differing rates of competitiveness. The third part of the course introduces students to the functioning of factor markets, while the final part deals with the general equlibrium theory, economics of information and welfare economics. Compared to the bachelor´s course on microeconomics, this course is more formalized and addresses also some issues of non-orthodox microeconomic approaches.
Students understand the basic principles of rational behaviour of different types of economic agents (households, firms, government). They are able to analyze the results of this behaviour and comprehend the functioning of various types of interacting markets. From a practical point of view, students are able to compute the optimum quantities of consumed and produced goods in order to maximize a criterion function of both the consumers and producers. Also, they are able to estimate the influence of the demand elasticity upon a firm´s total revenues and determinate the optimum quantities of factors of production entering the production process.
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Prerequisites
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The course of Microeconomics I (MIEI) is a prerequisite for the course of Microeconomics II (MIE2N).
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Assessment methods and criteria
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Combined exam
Credit Requirements: active participation during seminars, written test, seminar work according to instructions Examination Requirements: Exam is combination of written test and oral part
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Recommended literature
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Jehle, G. A. Advanced microeconomic theory (3rd ed). Harlow, England: Financial Times/Prentice Hall, 2011.
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Pindyck, R. S., & Rubinfeld, D. L. Microeconomics (8th ed.). Upper Saddle River, N.J.: Pearson/Prentice Hall., 2012.
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Rubinstein, Ariel. Lecture notes in microecomnomics theory: the economic agent. Second Edition.. Princeton University Press, 2012.
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Varian, R Hal. Intermediate Microeconomics: A modern Approach (Eight Edition). New York, W. W. Norton Company, 2014.
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