Course detail

Microeconomics 1

FP-Umik1PAcad. year: 2014/2015

This course is designed to acquaint student with the basic tools of microeconomics. Economics is the study of how society allocates its scarce resources, and microeconomics is the study of the behaviour of households and firms, whose collective decisions determine how resources are allocated in a free market economy.

Language of instruction

Czech

Number of ECTS credits

6

Mode of study

Not applicable.

Learning outcomes of the course unit

Student will know theoretical approaches from a microeconomics area and he/she will understand the role of market to other microeconomics entities and he/she will make a critical analysis of real feature from microeconomics area.

Prerequisites

This course does not assume any prior knowledge of economics.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course contains lectures that explain basic principles, problems and methodology of the discipline, and exercises that promote the practical knowledge of the subject presented in the lectures

Assesment methods and criteria linked to learning outcomes

Student will get credit if he/she fulfills these three parts:
1/ Test: Student has to get at least 18 from 30 pts.
2/ Team project: Student has to get at least 5 from 10 pts.
3/ Attendance in seminars have to be at least 75%.
A final written exam consists 14 – 17 questions. Student has to obtain at least 33 pts from 60 pts. The final classification is based on the number of points (a student can obtain max. 40 pts from seminars, 60 pts from written exam, total 100 pts).
The classification scale is as follows:
A: 90 - 100 pts
B: 80 - 89 pts
C: 70 - 79 pts
D: 60 - 69 pts
E: 50 - 59 pts
F: less than 50 pts

Course curriculum

Introduction to economics
• The basics of supply and demand
• Consumer behaviour
• Individual and market demand
• Production
• The cost of production
• Profit maximization and competitive supply
• The analysis of competitive markets
• Imperfect competition: monopoly and monopsony
• Pricing with market power
• Monopolistic competition and oligopoly
• Markets for factor inputs
• Impact of governments decision
• Externalities and public goods

Work placements

Not applicable.

Aims

The goal of the course is to teach student to "think like an economist," which will help students to understand the world around, make better economic decisions in own life, and be a more informed citizen and voter. The course focuses on economic theory and therefore will often rely on abstract concepts. However, the course will emphasize the application of these concepts to real world situations through frequent in-class discussions of current events and interactive learning exercises.

Specification of controlled education, way of implementation and compensation for absences

Attendance in seminars will be checked, a student has to fulfil a 75% attendance in seminars.
Absence in seminars could be recompense with a special assignment or with a special exam test.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

HOŘEJŠÍ, Bronislava a kol. Mikroekonomie. 5., aktualiz. vyd. Praha: Management Press, 2010, 574 s. ISBN 978-80-7261-218-5 (CS)
ŠKAPA, Stanislav. Mikroekonomie I. Vyd. 2., přeprac. Brno: Akademické nakladatelství CERM, 2012, 131 s. Učební texty vysokých škol. ISBN 978-80-214-4574-1. (CS)

Recommended reading

HOLMAN, Robert. Mikroekonomie: středně pokročilý kurz. 2., aktualiz. vyd. V Praze: C.H. Beck, 2007, xvi, 592 s. Beckovy ekonomické učebnice. ISBN 978-80-7179-862-0. (CS)
MANKIW, Gregory N. Zásady ekonomie. Praha: Grada, 2000. ISBN 978-80-7169-891-1. (CS)

Classification of course in study plans

  • Programme BAK Bachelor's

    branch BAK-UAD , 1 year of study, summer semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

Syllabus

Základní tématická náplň předmětu je následující:
• Podstata ekonomické vědy a vývoj mikroekonomie
• Tržní systém a racionální chování člověka
• Formování poptávky (teorie mezního užitku a teorie indiference)
• Firma a náklady firmy
• Formování nabídky
• Dokonalá konkurence a tržní rovnováha
• Nedokonalá konkurence a monopol
• Oligopol a monopolistická konkurence
• Trhy výrobních faktorů, trh práce
• Trh kapitálu a trh půdy
• Mikroekonomická politika
• Zásahy státu do cen
• Externality a veřejné statky

Exercise

26 hod., compulsory

Teacher / Lecturer

Syllabus

Základní tematická náplň cvičení je následující:
• Informace o organizaci cvičení, požadavky k zápočtu. Úvod do mikroekonomie. Trh, typy trhů, tržní subjekty a tržní mechanismus.
• Vzácnost ekonomických zdrojů a problém jejich alokace. Použití grafů v mikroekonomii.
• Chování spotřebitele – užitečnost a poptávka
• Chování výrobce - náklady a nabídka
• Tržní rovnováha a efektivnost
• Nedokonalé trhy
• Konkurence a regulace
• Trhy výrobních faktorů, trhy práce a trh kapitálu
• Zásahy státu do cen
• Externality a veřejné statky
• Udělení zápočtů