Course: Microeconomics 2

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Course title Microeconomics 2
Course code KEM/9MIKR
Organizational form of instruction Lecture + Seminar
Level of course Master
Year of study not specified
Semester Winter and summer
Number of ECTS credits 4
Language of instruction Czech
Status of course unspecified
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Beran Theodor, Doc. Ing. Ph.D.
  • Martinčík David, JUDr. Ing. Ph.D.
Course content
1. Consumer decision-making principles, theoretical approaches (ordinalist and cardinalist version); consumers equilibrium. 2. Theory of demand, demand elicitation and determinants of demand in short- and long run; Engels curve; price-, income- and cross elasticity of demand; consumers surplus; demand analysis: usually used functions. 3. Consumption and leisure time trade-off; trade-off between current and future consumption; alternative theories of consumer behavior: revealed preferences. 4. Firm; firm objectives; production and production function; returns to scale; factors of production optimal combination; profit maximization in short- and long run; alternative company objectives; Baumol model; social costs and supply. 5. Production-possibility frontier; international trade; absolute and comparative advantages; sources of comparative advantages; market protection; movement of production factors among countries. 6. Market equilibrium and price; changes of market equilibrium; price regulations and subventions; taxes; license and production quota. 7. Accomplished and imperfect markets; price creation on an imperfect market; price discrimination; graduated prices; monopolistic competition; Chamberline model. 8. Oligopoly; cartel; Cournot and Stackelberg model of duopoly; Bertrand oligopoly model; Nash equilibrium. 9. Monopoly and causes of its formation; natural monopoly; antimonopoly policy. 10. Market of production factors and specifications of partial markets-job market, land market and capital market. 11. General market equilibrium; production efficiency; distribution efficiency; Pareto optimality; conditions of market efficiency. 12. Public goods and public choice; public sector; causes of existence and demand for public goods; public choice; public sector equilibrium; effective providing of public goods. 13. Consumer choice under risk.

Learning activities and teaching methods
Self-study of literature, Lecture, Practicum
  • Graduate study programme term essay (40-50) - 40 hours per semester
  • Preparation for comprehensive test (10-40) - 25 hours per semester
  • Contact hours - 39 hours per semester
prerequisite
professional knowledge
Knowledge of subject matter presented in course KEM/EK1.
learning outcomes
Student is able to: - Analyze advanced microeconomic models (content and formal aspects). - Recognize and formulate basic idea conceptions of contemporary microeconomic schools. - Apply advanced microeconomic theories to model situations.
teaching methods
Lecture
Practicum
Self-study of literature
assessment methods
Test
Skills demonstration during practicum
Seminar work
Recommended literature
  • Holman, Robert. Dějiny ekonomického myšlení. Vyd. 1. Praha : C.H. Beck, 1999. ISBN 80-7179-238-1.
  • Macáková, Libuše. Mikroekonomie II : cvičebnice. 3., upr. vyd. Slaný : Melandrium, 2003. ISBN 80-86175-28-6.
  • Macáková, Libuše; Soukupová, Jana. Mikroekonomie repetitorium : středně pokročilý kurs. 2. vyd. Slaný : Melandrium, 1998. ISBN 80-86175-01-4.
  • Mankiw, N. Gregory. Zásady ekonomie. Praha : Grada, 1999. ISBN 80-7169-891-1.
  • Soukup, Jindřich. Mikroekonomická analýza (vybrané kapitoly). 1. vyd. Slaný : Melandrium, 1999. ISBN 80-86175-07-3.
  • SOUKUPOVÁ, J.; HOŘEJŠÍ, B.; MACÁKOVÁ, L.; SOUKUP, J. Mikroekonomie. 3.doplněné vydání. Praha: Management Press, 2005.


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