VSFS:NA_MiE Microeconomics - Course Information
NA_MiE Microeconomics
University of Finance and AdministrationWinter 2020
- 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 even Monday 15:45–16:29 E122, each even Monday 16:30–17:15 E122, except Mon 26. 10. ; and Mon 26. 10. 15:45–17:15 E228, P. Wawrosz
NA_MiE/cMCPH: each odd Monday 14:00–14:44 E122, each odd Monday 14:45–15:30 E122, except Mon 2. 11. ; and Mon 2. 11. 14:00–15:30 E228, P. Wawrosz
NA_MiE/pECMCPH: Mon 8:45–9:29 E224, Mon 9:30–10:15 E224, 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
- For all students (both “normal students” (= students without any specific situation) and students with ISP or students that due to current epidemiological situation cannot come to the Czech Republic: Credit: There is one midterm online credit test, covering lectures 1-5. The test takes 30 minutes. The test will be opened online after the 5th lecture. The test consists of 8 multiple-choice questions. In each question only 1 answer is correct. Students must answer correctly at least 5 questions to pass the credit test. Exam: Students need to pass the credit test to be able to register for the final exam in the examination period in January 2021. The final exam is an online test. The test consists of 11 questions. In each question only 1 answer is correct. GRADES: 10 or 11 correct: A; 9 correct: B; 8 correct: C; 7 correct: D; 6 correct: E; less than 6 correct: F. The exam will take maximum 45 minutes.
- 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.
- Enrolment Statistics (Winter 2020, recent)
- Permalink: https://is.vsfs.cz/course/vsfs/winter2020/NA_MiE