114-0302/06 – Microeconomics B - Intermediate Microeconomics (Mikro B)

Gurantor departmentDepartment of EconomicsCredits6
Subject guarantordoc. Dr. Ing. Jan LibichSubject version guarantordoc. Dr. Ing. Jan Libich
Study levelundergraduate or graduateRequirementCompulsory
Study languageCzech
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
BAD0012 Ing. Ondřej Badura
JAN27 Ing. Hana Janáčková, Ph.D.
JAW127 Ing. Jan Janků, Ph.D.
JAN77 Ing. Ivana Jánošíková, Ph.D.
LIB009 doc. Dr. Ing. Jan Libich
LOK02 Ing. Aleš Lokaj, Ph.D.
MAH11 prof. Ing. Martin Macháček, Ph.D. et 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+2

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



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. 6. aktualizované a doplněné vyd. Praha: Management Press, 2018. ISBN 978-80-7261-538-4. 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 kurz. 3. akt. vyd. Praha: C. H. Beck, 2018. 656 s. ISBN 978-80-7400-397-4. JUREČKA, Václav et al. Mikroekonomie. 3., aktualizované a rozšířené vydání. Praha: Grada Publishing, 2018. ISBN 978-80-271-0146-7.

Way of continuous check of knowledge in the course of semester

Credit: Tutorial tests - 20 points. Test- 15 points Maximum: 35 points. Minimum: 18 points. Exam: 65 points Total: 100 points Minimum: 51 points


Other requirements

active participation in seminars, study of recommended literature


Subject has no prerequisities.


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. Introduction to the Study of Intermediate Microeconomics. 2. Theory of Demand. Elasticities of Demand. 3. Revenue - total, average and marginal, relationship between revenue and price elasticity of demand. 4. Consumer Behaviour - consumer surplus, indifference curve analysis, marginal rates of substitution and consumer equilibrium, intertemporal choice. 5. Decision under Risk. 6. Production Functions in a Short Run and in a Long Run. 7. Costs of Firm in a Short Run and in a Long Run. 8. Firm Behaviour under Perfect Competition. 9. Monopoly - aims of monopoly, allocative inefficiency and regulation of monopoly. 10. Oligopoly and Monopolistic Competition. 11. Input Markets. 12. General Equilibrium. Externalities and Public Goods. 13. Semestral Assignment. 14. Test.

Conditions for subject completion

Conditions for completion are defined only for particular subject version and form of study

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (N0311A050012) Applied economics EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0488A050004) Finance and Accounting EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0312A050001) Public Economics and Administration EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0413A050014) Economics and Management EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0414A050001) Marketing and Business EK P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0688A050001) Information and Knowledge Management P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0312A050001) Public Economics and Administration EKO P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0311A050012) Applied economics EKO P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0413A050014) Economics and Management EKO P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0488A050004) Finance and Accounting EKO P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner