114-0302/03 – Microeconomics B - Intermediate Microeconomics (Mikro B)

Gurantor departmentDepartment of EconomicsCredits4
Subject guarantordoc. Dr. Ing. Jan LibichSubject version guarantorIng. Lenka Spáčilová, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semesterwinter
Study languageCzech
Year of introduction2009/2010Year of cancellation2011/2012
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
HON05 Ing. Martin Hon, Ph.D.
JAN27 Ing. Hana Janáčková, Ph.D.
JAN77 Ing. Ivana Jánošíková, Ph.D.
SPA60 Ing. Lenka Spáčilová, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+1

Subject aims expressed by acquired skills and competences

- interpret modern microeconomics at the intermediate level - illustrate the consumer behaviour through indifference analysis and connect the basic model of consumer behaviour with consumer decision-making under risk - formulate the conditions of different market structures and compare models of firm's decision-making on the price and size of the output in terms of perfect and imperfect competition - analyze the market of inputs and identify perfectly and imperfectly competitive markets of inputs - classify the types of market failure and evaluate the solutions of market failure - connect the consumer choice and behaviour of the firm in general equilibrium analysis

Teaching methods

Lectures
Seminars

Summary

The aim of this course is to give students the conceptual basis and the necessary tools for understanding modern microeconomics at the intermediate level. This course develops the neoclassical theory of optimising behaviour of consumers and firms. The discussion of consumer theory is followed by a careful examination of price and output determination under alternative market structures. The implications of alternative goals of firms are also examined. After the theory of supply and demand in the output market, the focus turns to an examination of resource markets.

Compulsory literature:

HOŘEJŠÍ, Bronislava, Jana SOUKUPOVÁ, Libuše MACÁKOVÁ a Jindřich SOUKUP. Mikroekonomie. 5. vyd. Praha: Management Press, 2010. ISBN 978-80-7261-218-5. SPÁČILOVÁ, Lenka a Ivana JÁNOŠÍKOVÁ. Mikroekonomie B - soubor úloh ze středně pokročilé mikroekonomie. SOT, vol. 30. Ostrava: VŠB-TU Ostrava, 2016. ISBN 978-80-248-3987-5. VARIAN, Hal. R. Intermediate Microeconomics. A Modern Approach. 9th ed. New York: W. W. Norton & Company, 2014. ISBN 978-0-393-91967-7.

Recommended literature:

FRANK, Robert H. Microeconomics and Behavior. 9th ed. New York: McGraw-Hill Higher Education, 2014. ISBN 978-0078021695. HOLMAN, Robert. Mikroekonomie: středně pokročilý kurs. 2. akt. vyd. Praha: C. H. Beck, 2007. 592 s. ISBN 978-80-7179-862-0. JUREČKA, Václav et al. Mikroekonomie. 2. aktualizované vydání. Praha: Grada Publishing, 2013. ISBN 978-80-247-4385-1.

Way of continuous check of knowledge in the course of semester

Credit: Tutorial tests - 20 points. Test- 15 points Maximum: 35 points. Minimum: 20 points. Exam: 65 points Total: 100 points Minimum: 51 points

E-learning

Další požadavky na studenta

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Introduction to the Study of Intermediate Microeconomics 2. Consumer Choice - Income-Consumption Curve, Engel Curve, Engel Expenditure Curve, Income Elasticity of Demand - Price-Consumption Curve. Substitution and Income Effect, Price Elasticity of Demand - Intertemporal Consumption Choices. Rate of Time Preference. Intertemporal Budget Constraint. Interest Rate. 3. Decision under Risk and Uncertainty. Risk. Uncertainty. Probability. Measuring Risk- Variance, Standard Deviation. Expected Mean (Value). Expected Utility Theory. Attitude Toward Risk - Risk Averse, Risk Loving, Risk Neutral. Insurance. Adverse Selection and Moral Hazard. 4. Theory of production Long-run Production Function. Isoquant Analysis. Marginal Rate of Technical Substitution. Economic Region of Production. Long-run Expansion Path. Short-run Production Function. Short-run expansion path. Short-run Costs. Long-run Costs. 5. Perfect Competition. Short-run and Long-run Equilibrium of the Firm under Perfect Competition. 6. Monopoly - Price Discrimination. Natural Monopoly. Network Industries. 7. Oligopoly - Pricing Strategies of the Oligopolistic Firms. - Cournot's Model, Stackelberg Model, Sweezy Model. 8. Anti-monopoly Regulation. - Rate of Return Regulation, Price Cap Regulation; Franchise regulation; Yardstick regulation 9. Monopolistic Competition. - Short-run and Long-run equilibrium of the Firm under Monopolistic Competition 10. Labour Market. - Individual Demand and Supply of Labour. - Market Demand and Supply on Competitive Labour Market. Short-run and Long-run Equilibrium on Competitive Labour Market. 11. Capital Market. 12. General Equilibrium and Welfare Theorems. - Edgeworth Box. Consumption Efficiency. Production Efficiency. Pareto Efficiency. - Welfare Theorems. - Monopsony Labour Market. 13. Market Failures. Microeconomic policy of government. Externalities. Public Good. Efficient Scale of Provision of a Public Good. Public Choice Theory. Tutorials: 1. Theory of Demand. Elasticities of Demand. 2. Consumer Choice. 3. Production Functions. Costs of Firm. 4. Firm Behaviour under Perfect and Imperfect Competition. 5. Input Markets. Decision under Risk.

Conditions for subject completion

Full-time form (validity from: 2009/2010 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 35 (35) 20
                Zápočtová písemka Written test 15  0
                Průběžná kontrola studia Other task type 20  5
        Examination Examination 65  0
Mandatory attendence parzicipation:

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Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2011/2012 (N6208) Economics and Management (6202T049) Accounting and Taxes (00) Účetnictví a daně P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6208) Economics and Management (6208T020) Business Economics (00) Business Economics P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6208) Economics and Management (6208T062) Marketing and Business (01) Marketing and Business P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6208) Economics and Management (6208T037) Management (00) Management P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6209) Systems Engineering and Informatics (6209T025) System Engineering and Informatics (00) System Engineering and Informatics P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T040) Regional Development (00) Regional Development P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T095) Economics and Law in Journalism P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6208) Economics and Management (6208T101) Sports Management P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6209) Systems Engineering and Informatics (1802T001) Applied Informatics P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T095) Economics and Law in Journalism P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6209) Systems Engineering and Informatics (1802T001) Applied Informatics P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6208) Economics and Management (6202T049) Accounting and Taxes P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6208) Economics and Management (6208T062) Marketing and Business (01) Marketing and Business P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6208) Economics and Management (6208T020) Business Economics (00) Business Economics P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6208) Economics and Management (6208T037) Management P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6208) Economics and Management (6208T101) Sports Management P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T040) Regional Development (00) Regional Development P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 1 Compulsory study plan
2010/2011 (N6209) Systems Engineering and Informatics (6209T025) System Engineering and Informatics (00) System Engineering and Informatics P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6208) Economics and Management (6208T101) Sports Management P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6208) Economics and Management (6208T020) Business Economics (00) Business Economics P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6208) Economics and Management (6202T049) Accounting and Taxes P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6208) Economics and Management (6208T037) Management P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6209) Systems Engineering and Informatics (1802T001) Applied Informatics P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration (00) Public Economics and Administration P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T055) Public Economics and Administration P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6209) Systems Engineering and Informatics (6209T025) System Engineering and Informatics (00) System Engineering and Informatics P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6209) Systems Engineering and Informatics (6209T025) System Engineering and Informatics P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T040) Regional Development (00) Regional Development P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6208) Economics and Management (6208T062) Marketing and Business (01) Marketing and Business P Czech Ostrava 1 Compulsory study plan
2009/2010 (N6202) Economic Policy and Administration (6202T095) Economics and Law in Journalism P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner