B_MiE Microeconomics

University of Finance and Administration
Winter 2022
Extent and Intensity
2/2/0. 7 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Michal Blahout, Ph.D. (seminar tutor)
Ing. Petr Mach, Ph.D. (seminar tutor)
Ing. Mgr. Jaromír Tichý, Ph.D., MBA (seminar tutor)
doc. Radim Valenčík, CSc. (seminar tutor)
doc. Mgr. Ing. Petr Wawrosz, Ph.D. (seminar tutor)
Guaranteed by
Ing. Petr Mach, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Bc. Kamila Procházková
Timetable of Seminar Groups
B_MiE/cEKKV: each even Tuesday 10:30–11:14 KV205, each even Tuesday 11:15–12:00 KV205, each even Tuesday 12:15–12:59 KV205, each even Tuesday 13:00–13:45 KV205, M. Blahout
B_MiE/cEKPH: Wed 12:15–12:59 E227, Wed 13:00–13:45 E227, P. Mach
B_MiE/cFPPPH: each even Tuesday 12:15–12:59 E307, each even Tuesday 13:00–13:45 E307, each even Thursday 10:30–11:14 E227, each even Thursday 11:15–12:00 E227, except Tue 18. 10., except Tue 1. 11. ; and Thu 27. 10. 10:30–12:00 E227, Tue 1. 11. 12:15–13:45 E004, P. Mach
B_MiE/cMMO: each odd Wednesday 8:45–9:29 M15, each odd Wednesday 9:30–10:15 M15, each odd Wednesday 10:30–11:14 M15, each odd Wednesday 11:15–12:00 M15, J. Tichý
B_MiE/cMPH: Thu 8:45–9:29 E228, Thu 9:30–10:15 E228, P. Mach
B_MiE/poEKKV: each odd Tuesday 10:30–11:14 KV205, each odd Tuesday 11:15–12:00 KV205, each odd Tuesday 12:15–12:59 KV205, each odd Tuesday 13:00–13:45 KV205, P. Wawrosz
B_MiE/poMMO: each odd Tuesday 10:30–11:14 M26, each odd Tuesday 11:15–12:00 M26, each odd Tuesday 12:15–12:59 M26, each odd Tuesday 13:00–13:45 M26, P. Wawrosz
B_MiE/pxEKFMPPPH: each odd Tuesday 10:30–11:14 E004, each odd Tuesday 11:15–12:00 E004, each odd Tuesday 12:15–12:59 E004, each odd Tuesday 13:00–13:45 E004, P. Wawrosz
B_MiE/vEKFPH: Fri 7. 10. 17:30–19:00 E004, 19:15–20:45 E004, Fri 11. 11. 17:30–19:00 E004, 19:15–20:45 E004, Fri 9. 12. 14:00–15:30 E004, 15:45–17:15 E004, Fri 16. 12. 17:30–19:00 E225, 19:15–20:45 E225, R. Valenčík
Prerequisites
There are no prerequisites for this course.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The aim of the subject is to introduce students to microeconomics at the undergraduate level. The students will be introduced with: - the laws and principles of economics (such as the law of diminishing marginal revenues, the law of diminishing marginal product, the principle of opportunity costs, and the principle of sunk costs) - the behavior of the consumer and firm - the establishment of market equilibrium - the elasticity of supply and demand - market structures: perfect competition, imperfect competition (monopolistic competition, oligopoly, monopoly) - the market of the factors of production (the labor market and capital market) - the general equilibrium model - microeconomic arguments for government interference in the market and with the essence of allocation, redistributive, legislative and regulatory function of the state; including the public goods, externalities and other reasons for market intervention;
Learning outcomes
Students will be, after completing the course, able to: - understand basic laws and principles of microeconomics - explain the behavior of the consumer and firm - know what happens in the goods market, factor market, and loanable funds market - understand the general equilibrium model - know the microeconomic reasons for government intervention
Syllabus
  • The structure of the lectures:
  • 1. What economics is - basic terms
  • 2. Trade and competition
  • 3. Division of labour
  • 4. Utility
  • 5. Consumer choice
  • 6. Demand and supply
  • 7. Market equilibrium
  • 8. Production function
  • 9. Factor markets
  • 10. Profit maximisation
  • 11. Market structures
  • 12. General equilibrium theory
Literature
    recommended literature
  • MACH, Petr. Textbook of Elementary Economics. Prague: VŠFS, 2019. ISBN 978-80-7408-193-4. info
  • Holman, Robert 2011. Ekonomie. 5. vydání. Praha: C.H.Beck.
    not specified
  • MACH, Petr. Bakalářská ekonomie. Praha: VŠFS, 2023. ISBN ... ... ...
Teaching methods
Lectures and seminars in the full-time form of the study, consultations on the combined form of the study. Students should attend at least 75 % of the lessons and seminars in the full-time study form and 50% in the combined form.
Assessment methods
The subject is completed by passing a credit test and passing the exam.
The student earns the credit by 75% attendance in the seminars, passing the online midterm credit test and online final credit test to which he/she will be invited by email by the course guarantor.
The exam is oral. Students will explain concepts contained in the Bachelor's state 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: 16 hodin KS/semestr.
Teacher's information
Petr Mach, PhD teaches microeconomics and macroeconomics in English, and Lobbying and Monetary theory and policy in Czech. Between 2014-17 Petr Mach served as a member of the European Parliament.
The course is also listed under the following terms Winter 2007, Summer 2008, Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2018, Winter 2019, Winter 2020, Winter 2021.
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  • Permalink: https://is.vsfs.cz/course/vsfs/winter2022/B_MiE