EVSBAMIE Microeconomics

School of Business Administration in Karvina
Winter 2024
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
Tue 13:55–15:30 A422
  • Timetable of Seminar Groups:
EVSBAMIE/01: Tue 15:35–17:10 A422, R. Kubalová
Prerequisites (in Czech)
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
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.
Language of instruction
English
Further Comments
Study Materials
The course is also listed under the following terms Winter 2021, Winter 2022, Winter 2023.
  • Enrolment Statistics (recent)
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