NA_MiE Microeconomics

University of Finance and Administration
Winter 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.
The course is also listed under the following terms Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2018, Winter 2019, Winter 2021, Winter 2022, Winter 2023, Winter 2024.
  • Enrolment Statistics (Winter 2020, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2020/NA_MiE