FEKT-ZEK1Acad. year: 2017/2018
The course deals with microeconomic relations and connections, terms and theoretical foundations necessary for microeconomic analysis of the problems, allowing a complete picture leading to rational behavior of micro-entity in the market environment. The content of the course is focused on the issue of the behavior of consumers and company in the environment of perfect and imperfect competition. The course also deals with the issue of production factors and production functions. The content of the course is also represents the area of state intervention in microeconomic terms.
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.
This course does not assume any prior knowledge of economics.
Recommended optional programme components
Recommended or required reading
ŠKAPA, S. Mikroekonomie I. 1.vyd. Brno. CERM, s.r.o. Brno. 2008. 135 s.
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 obtain at least 21 pts from 35 pts which are given for seminar work and will have attandance at least 75%. Points will be given for a term paper and test.
A final written exam (14 – 17 questions). Student has to obtain at least 35 pts from 65 pts
A final scale for a valuation of student (a student can obtain max. 35 pts from seminars, 65 pts from written exam, total 100 pts).
Language of instruction
Introduction to economics
• The basics of supply and demand
• Consumer behaviour
• Individual and market demand
• 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
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.