N_MiE Microeconomics

University of Finance and Administration
Winter 2018
Extent and Intensity
2/1/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
prof. Ing. Mojmír Helísek, CSc. (seminar tutor)
Ing. Petr Mach, Ph.D. (seminar tutor)
Ing. Bc. Jiří Mihola, CSc. (seminar tutor)
doc. Radim Valenčík, CSc. (seminar tutor)
doc. Mgr. Ing. Petr Wawrosz, Ph.D. (seminar tutor)
Guaranteed by
doc. Radim Valenčík, CSc.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Lenka Pokorná
Timetable of Seminar Groups
N_MiE/cFPH: each odd Wednesday 12:15–12:59 S26, each odd Wednesday 13:00–13:45 S26, J. Mihola
N_MiE/cR1PH: each even Wednesday 12:15–12:59 S36, each even Wednesday 13:00–13:45 S36, J. Mihola
N_MiE/cR2PH: each even Wednesday 15:45–16:29 S13, each even Wednesday 16:30–17:15 S13, P. Mach
N_MiE/pFRPH: Thu 14:00–14:44 S32, Thu 14:45–15:30 S32, R. Valenčík
N_MiE/vRPH: Sat 13. 10. 9:45–11:15 S24, Fri 26. 10. 15:45–17:15 S24, Fri 9. 11. 17:30–19:00 S24, Sat 24. 11. 14:00–15:30 S23, Sat 8. 12. 9:45–11:15 S24, 11:30–13:00 S24, M. Helísek
N_MiE/2rocnik: No timetable has been entered into IS.
Prerequisites
There are no prerequisites for this course. The knowledge of bachelor economics is useful but it is not necessary condition for the study.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The objective of the study of microeconomics is to understand the logic of human decision-making and behavior in the economic field, in the field of social activities and in everyday life by means of the basic principles of microeconomic theory, in direct connection with the individual parts of the course, while the acquired knowledge and acquired ability of economic thinking also used in the study and practical application of other theoretical disciplines.
Learning outcomes
The students will be able at the end of the course: - to understand the issue of establishing and disturbing of general equilibrium, including factors leading economy out of equilibrium and preventing from achieving the equilibrium - to analyze shortcomings of neoclassical utility theory; to understand the essence of productive consumption aspects; to understand the issue of investment opportunities and investment resources and the role of capital market - to know the differences between risk and uncertainty and know how reduce them - to analyze the shortcomings of wealth theory and to know how they can be overcome; to understand the principle of knowledge society -to understand what creates surplus on the production factors market, on the imperfect competition market (monopoly, oligopoly, monopsony) and on the goods market - to know the basic of game theory, theory of redistribution system and public choice theory; to know the reasons of inefficiency of decision in public sector
Syllabus
  • The structure of the lectures: 1. lecture: repeating of general equilibrium model including derivation of production possibility frontier, derivation of utility possibility frontier. 2. lecture: the factors creating disequilibrium in economy and the factors preventing from achieving the equilibrium. 3. lecture: neoclassical theory of utility. The choice between present and future consumption, (the Fisher’s chart), capital market – debtor and creditor on capital market, Pareto improvements on the capital market, paradox of capital market. 4. lecture: risk, uncertainty and insurance, fair game, risk aversion. Another ways how to reduce risk. 5. lecture: wealth theory. Relationships: equity – efficiency. The income possibility frontier and optimum point on the frontier. 6. lecture: direct and indirect role of the state (government), knowledge society, the principle of transferred price, complex reform of system of social investment a social insurance. 7. lecture: Distribution theory, surplus on the production factors market. Clark’s chart. Specifics of the capital goods market and land market. 9. The structures of imperfect competition (monopoly, oligopoly, monopsony), price discrimination. 9. lecture: goods market and surplus. The real character of supply and demand curve. Engel curve. 10. lecture: game theory – game with constant sum, uncooperative games of 2 players and their model. 11. lecture: game theory- cooperative games of 2 and N players, oligopoly models. Theory of redistribution systems as the part of the game theory. 12. public choice theory : how the public choice is made, factors affecting public choice. Information asymmetry, market solutions of externalities.
Literature
    recommended literature
  • Heissler, Herbert; Valenčík, Radim; Wawrosz, Petr 2010. Mikroekonomie středně pokročilý kurz. Praha: VŠFS.
    not specified
  • Blažek, Jiří; Heissler, Herbert; Kubíček, Jan; Viktorová, Dana; Heissler, Wawrosz, Petr 2012. Ekonomie, právo a hospodářská politika v českém prostředí. Praha: Wolters Kluwer.
Teaching methods
Lectures and seminars on the present form of the study, consultations on the distant form of the study. Students should attend at least 50 % of the tuitions, otherwise they receive substitute homework.
The prerequisite of the study is knowledge the moeconomics on the bachelor level. The students without such knowledge or studding microeconomic on bachelor level outside VSFS are recommended to buy the books: - about microeconomics: HEISSLER Herbert; VALENČÍK Radim; WAWROSZ, Petr 2010. Mikroekonomie, základní kurs. Praha: VŠFS. - about macroeconomics: WAWROSZ, Petr; HEISSLER, Herbert; HELÍSEK, Mojmír; MACH, Petr 2012. Makroekonomie základní kurz. Praha: VŠFS. The subject is compulsory for students of the first year of master study in the defined study branches.
Assessment methods
The subject is finished by credit and exam. The acquiring of credit is necessary condition for student to be able to take the exam. The student acquires the credit if it fulfils conditions: 1. either it passes two tests on the seminars (present form of the study) or on the consultations (distant form of the study) and it passes two electronic credit tests in basic variant. Each question in the electronic tests are scored, student have to receive minimum score to pass the test. The value of minimum score is mentioned in the test. 2. or it passes two electronic tests in difficult variant. The ekctronic tests in difficult variant differs from electronic tests in basic variant in the level of minimum score needed to pass a test. Electronic tests in difficult varianthave higher score. The exam is verbal. The exam question are published in IS (information system) with minimal exam standards (the minimum knowledge that student must know to be able to pass the exam).
Language of instruction
Czech
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: 12 hodin KS/semestr.
The course is also listed under the following terms Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2019, Winter 2020, Winter 2021, Winter 2022, Winter 2023, Winter 2024.
  • Enrolment Statistics (Winter 2018, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2018/N_MiE