NA_MiE Microeconomics

University of Finance and Administration
Winter 2022
Extent and Intensity
2/1/0. 7 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Hana Lipovská, Ph.D. (seminar tutor)
Ing. Petr Mach, Ph.D. (seminar tutor)
Guaranteed by
Ing. Hana Lipovská, 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 Wednesday 15:45–16:29 S33, each even Wednesday 16:30–17:15 S33, H. Lipovská
NA_MiE/cMCPH: each even Wednesday 14:00–14:44 S23, each even Wednesday 14:45–15:30 S23, H. Lipovská
NA_MiE/pECMCPH: each odd Tuesday 10:30–11:14 S24, each odd Tuesday 11:15–12:00 S24, each odd Tuesday 12:15–12:59 S24, each odd Tuesday 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
  • MANKIW, N. Gregory Principles of Microeconomics. 9th ed. Cengage Learning. South-Western College Pub. 2020. 528 s. ISBN 978-0357133484.
  • 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
There is one midterm credit test, covering lectures 1-5. The test takes 30 minutes. The test usually includes 8 questions and students must answer correctly at least 5 questions to pass. Students take the test in a seminar in November with their seminar teacher. The final exam, taken in the examination period, is a written 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. Students need to have passed the credit test to be able to register for the final exam.
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 2020, Winter 2021, Winter 2023, Winter 2024.
  • Enrolment Statistics (Winter 2022, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2022/NA_MiE