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Lecturer(s)
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Martinčík David, JUDr. Ing. Ph.D.
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Course content
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Consumer decision-making principles, theoretical approaches (ordinalist and cardinalist version); consumers equilibrium. 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. Consumption and leisure time trade-off; trade-off between current and future consumption; alternative theories of consumer behavior: revealed preferences. 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. Production-possibility frontier; international trade; absolute and comparative advantages; sources of comparative advantages; market protection; movement of production factors among countries. Market equilibrium and price; changes of market equilibrium; price regulations and subventions; taxes; license and production quota. Accomplished and imperfect markets; price creation on an imperfect market; price discrimination; graduated prices; monopolistic competition; Chamberline model. Oligopoly; cartel; Cournot and Stackelberg model of duopoly; Bertrand oligopoly model; Nash equilibrium. Monopoly and causes of its formation; natural monopoly; antimonopoly policy. Market of production factors and specifications of partial markets-job market, land market and capital market. General market equilibrium; production efficiency; distribution efficiency; Pareto optimality; conditions of market efficiency. 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. Consumer choice under risk.
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Learning activities and teaching methods
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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
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| prerequisite |
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| Knowledge |
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| explain the basic microeconomic models |
| describe the principles of partial markets' woriking |
| explain fundamental microeconomic variables |
| study the information of the basic course of microeconomics KEM / EK1 |
| Skills |
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| distinguish the basic microeconomic approaches according their assumptions |
| interpret the values of microeconomic variables |
| estimate the change in behavior of microeconomic subjects with respect to the the change of the parameter of the model |
| Competences |
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| N/A |
| learning outcomes |
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| Knowledge |
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| explain the methodology of modern microeconomics |
| explain intermediate microeconomic models |
| explain in detail the principles of partial markets working |
| describe advanced relationships between microeconomic variables |
| Skills |
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| analyze intermediate microeconomic model from the points of view of their content and their form |
| apply intermediate microeconomic theories to real situations |
| distinguish and formulate basic conceptual framework of recent microeconomic approaches |
| Competences |
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| N/A |
| N/A |
| teaching methods |
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| Knowledge |
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| Lecture |
| One-to-One tutorial |
| Self-study of literature |
| Skills |
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| Practicum |
| Competences |
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| Self-study of literature |
| assessment methods |
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| Knowledge |
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| Test |
| Skills |
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| Skills demonstration during practicum |
| Competences |
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| Seminar work |
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Recommended literature
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Holman, Robert. Dějiny ekonomického myšlení. Vyd. 1. Praha : C.H. Beck, 1999. ISBN 80-7179-238-1.
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Macáková, Libuše. Mikroekonomie II : cvičebnice. 3., upr. vyd. Slaný : Melandrium, 2003. ISBN 80-86175-28-6.
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Macáková, Libuše; Soukupová, Jana. Mikroekonomie repetitorium : středně pokročilý kurs. 2. vyd. Slaný : Melandrium, 1998. ISBN 80-86175-01-4.
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Soukup, Jindřich. Mikroekonomická analýza (vybrané kapitoly). 1. vyd. Slaný : Melandrium, 1999. ISBN 80-86175-07-3.
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SOUKUPOVÁ, J.; HOŘEJŠÍ, B.; MACÁKOVÁ, L.; SOUKUP, J. Mikroekonomie. 3.doplněné vydání. Praha: Management Press, 2005.
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