EVSBAMIE Microeconomics

School of Business Administration in Karvina
Winter 2026
Extent and Intensity
2/2/0. 7 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Radka Kubalová, Ph.D. (lecturer)
Guaranteed by
Dr. Ing. Ingrid Majerová
Departament of Economics and Public Administration – School of Business Administration in Karvina
Contact Person: Dr. Ing. Ingrid Majerová
Timetable
Thu 13:05–14:40 AULA
  • Timetable of Seminar Groups:
EVSBAMIE/01: Thu 14:45–16:20 AULA, R. Kubalová
Prerequisites
FAKULTA(OPF) && TYP_STUDIA(B) && FORMA(P)
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The goal of the course is to provide students with a broad understanding of how individual consumers, firms, and markets make decisions and interact within the economy. Students will become familiar with the fundamental principles of supply and demand and learn to use economic reasoning to analyze market outcomes. Students will learn the major theories of consumer behavior, production, costs, and market structures, and will develop the ability to evaluate how these factors influence prices, output, and resource allocation. Students will examine the role of competition, market power, externalities, and government intervention in shaping economic outcomes. They will develop skills to analyze the effects of business decisions at the microeconomic level and to assess their advantages and disadvantages.
Learning outcomes

Students will be able to distinguish between positive and normative economics, microeconomics and macroeconomics, and identify key economic agents, goods, and factors of production. Students will be able to determine market equilibrium and analyze the causes and consequences of shortages, surpluses, and government price interventions. Students will be able to analyze consumer choice using budget constraints, preferences, and utility under both cardinal and ordinal approaches. Students will be able to calculate and interpret price, income, and cross elasticities of demand and evaluate their implications for total revenues. Students will be able to analyze short-run and long-run cost structures and compare revenue behavior under perfect and imperfect competition. Students will be able to apply the profit-maximization rule to determine both perfectly competitive and imperfectly competitive firm output, profit, loss, or shutdown decisions in the short run. Students will be able to analyze demand and supply in factor markets (land, labor, and capital) using marginal revenue product and marginal cost of factor inputs. Students will be able to identify and explain the main sources of market failure, including public goods, externalities, information asymmetry, and monopoly power and they will be able to critically assess the role of government intervention in correcting market failures and evaluate the risks and consequences of state failure.

Syllabus
1. Introduction to microeconomic theory
The basic principles of economics, role of models in economics, economics division, methods and tools of economic analysis. The principles of market, exchange and prices and their role in the economy. Types of markets and their actors. Elements of markets - supply, demand, price, and different types of competition. Analysis of market mechanism.
2. Theory of rational choice
Theory and preferences based on the theory of consumer demand. Budgetary limitations, the consumer's preference, cardinal and ordinal view on the benefits measuring method, problems of optimal consumer choice. Derivation of individual demand curves and elasticity of demand.
3. The technology and production
Theory of the firm and the choice of manufacturing process. Technological limitations of the firm, short and long term production function, cost optimum of the firm. Revenues on the perfectly and imperfectly competitive market. The costs in the short and long run. Economic profit.
4. Firm behavior in various kind of markets
Characteristics of a perfectly competitive market, the choice of optimal production scale. The production of the firm on a perfectly competitive market. Supply curve of perfectly competitive firm and market supply curve in the short and long run. Forms of imperfect competition: monopoly, oligopoly and monopolistic competition. The effects of various forms of imperfect competition on market supply and demand. Efficiency of the market.
5. Microeconomics aspects of land, labor and capital market
Demand and supply on a land market. Demand for a labor force. Individual and market labor supply. Marginal revenue and marginal cost of product. The labor market in conditions of perfect and imperfect competition. Monopsony. Capital, capital goods and their forms, capital market. Present and future value, net present value of future revenues and income on capital.
6. Market and state failure
Causes of limited market efficiency. Public goods, positive and negative externalities, information asymmetry in the market. The issue of monopoly power. The role of the state in the market economy activities leading to the elimination of the negative impacts of market failures. Failure of the state.
Literature
    required literature
  • McCONNEL, C. R., STANLEY L. B. and FLYNN, S. M., 2024. Economics (23rd ed.). McGraw Hill. ISBN 978-1-266-10684-2.
  • KRUGMAN, P. and WELLS, R., 2018. Microeconomics (18th ed.). Worth Publishers. ISBN 978-1-319-18202-1.
    recommended literature
  • CARBAUGH, R., 2024. Contemporary Economics: An Applications Approach (9th ed.). Routledge. ISBN 978-1-03-257259-8.
  • MCKENZIE, R. B., SCHANSBERG, D. E. and LEE, D. R., 2024. Microeconomics for Managers: Principles and Applications (4th ed.). Cambridge University Press. ISBN 978-1-00-950719-6.
Teaching methods
The course employs a combination of lectures, seminars, case studies, problem-solving exercises, group discussions, collaborative learning and presentations, and independent study.
Assessment methods
60 % active attendance at the seminars
continuous assessment (50 %) - written test, activity at the seminars, quizzes, group
work)
oral final exam (50 %)
Language of instruction
English
The course is also listed under the following terms Accreditation winter, Winter 2021, Winter 2022, Winter 2023, Winter 2024, Winter 2025.
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