Course detail

Microeconomics

FIT-IMIEAcad. year: 2013/2014

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

Language of instruction

Czech

Number of ECTS credits

5

Mode of study

Not applicable.

Guarantor

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Department

Institute of Management (ÚM)

Learning outcomes of the course unit

Student will be made familiar with the theoretical approaches in the area of microeconomics, and he/she will understand the role of market in relation to other microeconomics entities and will be able to make a critical analysis of real features from the microeconomics area.

Prerequisites

The course does not require any prior knowledge of economics.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course uses teaching methods in form of Lecture - 2 teaching hours per week, Exercise - 1 teaching hour per week.

Assesment methods and criteria linked to learning outcomes

A student has to achieve at least 21 out of 35 points which are given for seminars and to attend the seminars in 80%. Points will be given for a semester work, its presentation, and for a midterm test.

Course curriculum

Syllabus of lectures:
  1. Introduction to economics
  2. The basics of supply and demand
  3. Consumer behaviour
  4. Individual and market demand
  5. Production. The cost of production
  6. Profit maximization and competitive supply
  7. The analysis of competitive markets
  8. Imperfect competition: monopoly and monopsony
  9. Pricing with market power
  10. Monopolistic competition and oligopoly
  11. Markets for factor inputs
  12. Impact of governments decision
  13. Externalities and public goods

Syllabus of numerical exercises:
Selected problems from lectures.

Work placements

Not applicable.

Aims

The goal of the course is to teach students to "think as an economist," which will help them to understand the world around, make better economic decisions in own lives, and be better informed citizens and voters. The course focuses on the economic theory and therefore will often rely on abstract concepts. However, the course will emphasize the application of these concepts to the 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

A semester work, its presentation, and a midterm test earn 35 points.
The final exam consists of:
Written and oral parts of exam: Student has to achieve at least 35 points out of 65 (approximately 12 - 15 exam questions).
Final grading scheme (a student can achieve max. 35 points for seminars, 65 points for the final, i.e. 100 points in total).

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 IT-BC-3 Bachelor's

    branch BIT , any year of study, summer semester, elective

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Syllabus

  1. Introduction to economics
  2. The basics of supply and demand
  3. Consumer behaviour
  4. Individual and market demand
  5. Production. The cost of production
  6. Profit maximization and competitive supply
  7. The analysis of competitive markets
  8. Imperfect competition: monopoly and monopsony
  9. Pricing with market power
  10. Monopolistic competition and oligopoly
  11. Markets for factor inputs
  12. Impact of governments decision
  13. Externalities and public goods

Fundamentals seminar

13 hours, compulsory

Teacher / Lecturer

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Syllabus

Selected problems from lectures.