Course detail

Microeconomics

FSI-HMIAcad. year: 2011/2012

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.

Guarantor

Ing. Jiří Luňáček, Ph.D., MBA

Department

Institute of Manufacturing Technology (ÚST)

Learning outcomes of the course unit

A 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

Teaching methods depend on the type of course unit as specified in the article 7 of BUT Rules for Studies and Examinations.

Assesment methods and criteria linked to learning outcomes

A student has to obtain at least 16 pts from 25 pts which are given for seminars and student has to fulfil a 75% attendance in seminars. Points will be given for a semester work and its presentation and for midterm test.

A final exam consists of:
• written exam - student has to obtain at least 35 pts from 65 pts (approximately 12-15 exam questions)
• oral exam – student could obtain 10 pts (2 oral questions)

A final scale for a valuation of student (a student can obtain max. 25 pts from seminars, 65 pts from written exam and 10 pts from oral exam, total 100 pts):
A: 90 - 100 pts
B: 80 - 89 pts
C: 70 - 79 pts
D: 60 - 69 pts
E: 50 - 59 pts
F: less then 50 pts

Course curriculum

Not applicable.

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

The Participation in the Practices and the Courses is voluntary.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

Not applicable.

Recommended reading

Not applicable.

Classification of course in study plans

  • Programme M2I-P Master's

    branch M-STM , 2. year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

Ing. Jiří Luňáček, Ph.D., MBA

Syllabus

• Introduction to Economics
• The Basic 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
• Market Power: Monopoly and Monopsony
• Pricing with Market Power
• Monopolistic Competition and Oligopoly
• Markets for Factor Inputs
• Impact of Governments decision
• Externatilities and Public Goods

Exercise

26 hours, compulsory

Teacher / Lecturer

Ing. Jiří Luňáček, Ph.D., MBA

Syllabus

• Basics facts about organisation of seminars. Introduction to Economics. Market and market mechanisms.
• Scarceness and allocation of economics resources. Production factors. Using a graph in microeconomics.
• Consumer Behaviour
• Individual and Market Demand
• The Cost of Production
• Profit Maximization and Competitive Supply
• The Analysis of Competitive Markets
• Market Power: Monopoly and Monopsony
• Pricing with Market Power
• Monopolistic Competition and Oligopoly
• Markets for Factor Inputs
• Impact of Governments decision
• Externatilities and Public Goods