Course detail

Microeconomics 1

FP-Vmik1PAcad. year: 2017/2018

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

5

Mode of study

Not applicable.

Guarantor

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

Department

Institute of Economics (ÚE)

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 has to obtain at least 21 pts from 35 pts which are given for seminar work and test. Student has to fulfil a 75% attendance in seminars.

A final written examination - student has to obtain at least 35 pts from 65 pts (approximately 14-17 exam questions).

A final scale for a valuation of student (a student can obtain max. 35 pts from seminars, 65 pts from final written 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 than 50 pts

Course curriculum

Syllabus:
• Introduction to the Economics and Microeconomics
• Consumer Theory – Consumer Preferences and the Concepts of Utility, the Theory of Demand
• Production, Cost Theory and the Supply Curve
• Demand, Supply and the Market Equilibrium
• Imperfect Competition
• Alternative Theories of the Firm
• The Market for Factors of Production
• Impact of governments decision
• Externalities
• 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

ŠKAPA, S. Mikroekonomie I. 1.vyd. Brno. CERM, s.r.o. Brno. 2008. 135 s. (CS)

Recommended reading

Not applicable.

Classification of course in study plans

  • Programme BAK-KME Bachelor's

    branch BAK-MME , 2. year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

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

Syllabus

• 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

Exercise

13 hours, compulsory

Teacher / Lecturer

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