114-0500 – Microeconomics A (MIC A)

Gurantor departmentDepartment of Economics
Subject guarantordoc. Dr. Ing. Jan Libich
Study levelundergraduate or graduate
Subject version
Version codeYear of introductionYear of cancellationCredits
114-0500/01 2006/2007 2011/2012 5
114-0500/02 2012/2013 6
114-0500/03 2019/2020 5

Subject aims expressed by acquired skills and competences

The aim of the course: students are able to: - describe the basic economic cathegories, - think in independent and creative way about economic problems, - explain the behaviour of consumers, households and firms - understand, how the product markets and the labour and capital market work. - analyze causes and consequences of market failures and to conceive the microeconomic role of the government.

Teaching methods

Lectures
Individual consultations
Tutorials

Summary

The aim of the subject is to make the basis for students’ independent creative economic thinking. The main emphasis is laid on the behaviour of consumers, households, firms and government. Attention is also paid to the labour market and capital market. The course Microeconomics A is followed by the intermediate course Microeconomics B in the 4th year, and in the case of doctoral studies by the advanced course Microeconomics C. 1. Introduction to economics. 2. Market and market mechanism. 3. Theory of utility. 4. Market demand and its elasticity. 5. Firm – its aims and production activity. 6. Costs, revenues and profits of the firm. 7. Perfectly competitive firm. 8. Monopoly. 9. Firm in oligopoly and in monopolistically competitive industry. 10. Labour market. 11. Capital market. 12. Distribution of income and wealth. 13. Externalities and public goods. 14. Public choice theory.

Compulsory literature:

SAMUELSON, Paul Anthony and William D. NORDHAUS. Economics. 19th ed. New York, McGraw-Hill, 2009. ISBN 978-0073511290.

Recommended literature:

HEYNE, Paul, Peter J. BOETTKE a David L. PRYCHITKO. The Economic Way of Thinking. 13th edition. Pearson, 2013. ISBN 978-0132991292. MANKIW, N. Gregory. Principles of Microeconomics. 7th edition. South-Western College Pub, 2014. ISBN 978-1285165905. KRUGMAN, Paul and Robin WELLS. Microeconomics. 3rd edition. Worth Publishers, 2012. ISBN 978-1-4292-8342-7

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.