NA_MiE Microeconomics

University of Finance and Administration
Winter 2019
Extent and Intensity
2/1/0. 7 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Petr Mach, Ph.D. (seminar tutor)
doc. Mgr. Ing. Petr Wawrosz, Ph.D. (seminar tutor)
Guaranteed by
doc. Mgr. Ing. Petr Wawrosz, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Bc. Kamila Procházková
Timetable of Seminar Groups
NA_MiE/cECPH: each odd Wednesday 15:45–16:29 S14, each odd Wednesday 16:30–17:15 S14, P. Wawrosz
NA_MiE/cMCPH: each odd Wednesday 14:00–14:44 S14, each odd Wednesday 14:45–15:30 S14, P. Wawrosz
NA_MiE/pECMCPH: Tue 12:15–12:59 S24, Tue 13:00–13:45 S24, P. Mach
Prerequisites
There are no prerequisites for this course. It is recommended knowledge of economics on bachelor level.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
At the end of the course students should be able to understand and explain intermediate problems in microeconomics.
Learning outcomes
After taking this course students will be able to understand and explain principles of economics and explain the theory of the consumer choice and of the firm including understanding the effects of taxation and of other government interventions in the market.
Syllabus
  • 1. General Equilibrium. Production Possibility Frontier. 2. Private and Public Goods. Rivalry and Excludability in Consumption. Asymmetry of Information. Principal vs Agent. 3. Consumer Behaviour. 4. Decision-making under Risk and Uncertainty. Risk Aversion. Diversification of Risk. 5. Inter-temporal Choice. Choice between Consumption and Benevolence. 6. State Interventions to the Demand and Supply. Price floors and ceilings. Taxes and Intervention Purchases. 7. Laffer Curve. 8. Marginal yield of Capital. Pareto efficiency of a Loan. 9. Price Discrimination. Auctions. 10. Game Theory. Cartel. Prisoner’s Dilemma. 11. Public Choice. 12. Bureaucracy and lobbying.
Literature
    required literature
  • Mach, P.: Textbook of Intermediate Economics, (available in IS)
    recommended literature
  • Sobel, R., Gwartney, J., Stroup, R., Macpherson, D.: Understanding Microeconomics 13th Edition. Cengage LearningISBN-13: 978-0-538-75619-8
  • MACH, Petr. Textbook of Elementary Economics. Prague: VŠFS, 2019. ISBN 978-80-7408-193-4. info
Teaching methods
Lectures and seminars in full-time study; compulsory seminar participation is 75% in full-time study.
Assessment methods
The course ends with credit midterm test and final test. Credit midterm test is written and to pass students need 2 out of 3 questions correct or students can write an essay. Information about the essay are delivered during the first week. Final written/oral exam: max 100 points. The first term of final test is written and other terms oral. Grades: A (90-100), B (80-90), C (70-80), D (60-70), E (50-60) F (below 50).
Language of instruction
English
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Information on the extent and intensity of the course: 16 hodin KS/semestr.
The course is also listed under the following terms Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2018, Winter 2020, Winter 2021, Winter 2022, Winter 2023, Winter 2024.
  • Enrolment Statistics (Winter 2019, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2019/NA_MiE