EVSNPMIE Microeconomics

School of Business Administration in Karvina
Winter 2026
Extent and Intensity
2/2/0. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
prof. Mgr. Ing. Michal Tvrdoň, Ph.D. (lecturer)
Ing. Karin Glacová (seminar tutor)
Ing. Petra Chmielová, Ph.D. (seminar tutor)
Ing. Adriana Jochymek (seminar tutor)
Guaranteed by
prof. Mgr. Ing. Michal Tvrdoň, Ph.D.
Departament of Economics and Public Administration – School of Business Administration in Karvina
Contact Person: Dr. Ing. Ingrid Majerová
Supplier department: Departament of Economics and Public Administration – School of Business Administration in Karvina
Timetable
Thu 14:45–16:20 VS
  • Timetable of Seminar Groups:
EVSNPMIE/01: Tue 8:05–9:40 A111, P. Chmielová
EVSNPMIE/02: Tue 9:45–11:20 A111, P. Chmielová
EVSNPMIE/03: Wed 13:05–14:40 A111, P. Chmielová
EVSNPMIE/04: Tue 9:45–11:20 A501, K. Glacová
EVSNPMIE/05: Tue 9:45–11:20 A211, A. Jochymek
Prerequisites (in Czech)
FAKULTA(OPF) && TYP_STUDIA(N) && 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 Microeconomics course introduces students to the principles of decision-making of economic entities and the functioning of the market mechanism in conditions of limited resources. It focuses on the analysis of consumer and firm behavior, price formation, allocation of production factors, and the functioning of individual market structures. Students will gain an understanding of consumer theory, theory of the firm, general equilibrium, and welfare economics, and will master the principles of decision-making under conditions of uncertainty and risk. The course also includes the analysis of factor markets, investment decisions, and the issue of market failures. Emphasis is placed on the use of microeconomic models in the interpretation of economic phenomena, the development of analytical thinking, and the application of theoretical knowledge to practical economic situations.
Learning outcomes
The student understands the principles of microeconomics and their applications in solving decision-making problems of economic entities. The student can define the principles of consumer theory and apply them in the analysis of consumer behavior. The student can evaluate changes in consumer behavior when prices, income or other external factors change. The student understands the concept of intertemporal choice and is able to analyze how consumers distribute their income and expenses between different time periods. The student knows the basic principles of firm analysis and can identify key factors that influence firms' decision-making processes. The student is able to analyze the production function in the short and long run, including understanding the relationship between inputs. The student can interpret alternative goals of firms and explain how these goals can influence the choice of technology and production strategy. The student can evaluate the impact of changes in input prices on the firm's costs and formulate appropriate responses to changes in input prices within the framework of cost management. The student knows the concept of profit in economics, including the difference between accounting and economic profit. The student is able to identify and analyze various types of market failures, including imperfect competition, externalities, public goods, and asymmetric information, and understand their impact on the efficiency of markets.
Syllabus

1. Theoretical introduction to the problems of microeconomics


The essence and subject of microeconomics research. Basic methods and tools of economic analysis. Model creation. Functions. Average and marginal quantities and their graphical representation. Equilibrium and determination of the optimum.


2. Consumer theory


Consumer budget constraint. Intertemporal choice. Theory of consumer demand. The effect of income changes. Engel curve. Income elasticity of demand. Price elasticity of demand. Cross elasticity of demand and sum of elasticities. Substitution and income effect of price change. Individual demand curve and market demand. Decision-making under conditions of uncertainty and risk.


3. Technology choice and production


A theoretical introduction to the problems of production. Production functions in the short and long run. Isoquants and marginal rate of technical substitution. Cost minimization and finding the optimal combination of inputs. Consumer optimum. Returns to scale and the path of expansion. Alternative goals of the firm and their causes.


4. General equilibrium


Assumptions of the general equilibrium model. Edgeworth box diagram. Production and efficiency. Pareto efficiency. Optimal selection of inputs by the firm. Contract curve and production possibilities frontier. Opportunity costs. Choice of product structure by the firm and efficiency. Exchange and efficiency. Production-consumption efficiency. Equilibrium and the price system. The contradiction between justice and efficiency. Welfare economics and Arthur Cecil Pigou.


5. Revenue, costs and profit of the firm


Development of revenue in a perfectly competitive market. Revenue in an imperfectly competitive market. Costs of the firm from the point of view of the short run. Long-term costs of the firm. The relationship between costs in the short and long run. Profit and its concept in microeconomics.


6. Choice of output of the firm in a perfectly competitive market environment


Theoretical basis of perfect competition. Decision-making of a perfectly competitive firm on the level of output in the short run. Supply of a perfectly competitive firm and industry in the short run. Equilibrium of a firm. Decision-making of a firm on the level of output in the long run. Long-run supply of a perfectly competitive industry. Market equilibrium in the long run. Efficiency of a perfectly competitive market structure.


7. Choice of output of a firm in a non-competitive market environment


Theoretical foundations of monopoly. Types of price discrimination. Theoretical foundations of oligopoly structure. Models of oligopoly. Game theory and models of oligopoly. Theoretical foundations of monopolistic competition. Models of monopolistic competition.


8. Factor markets


Microeconomic aspects of the labor market. Capital market. Consumer decision-making and the problem of indifference analysis. Investment and consumer decision-making. Investment decision-making in the absence of a capital market. Perfectly competitive capital market and consumer decision-making on investments. Risk and uncertainty in the context of investment decisions. Theoretical introduction to the problem of natural resources. Natural resources market.


9. Market failure and microeconomic policy of the state


Types of market failures. Imperfect competition. Externalities. Public goods. Asymmetric information. Income redistribution.

Literature
    required literature
  • Hořejší, B., Macáková, L., Soukup, J., & Soukupová, J. (2018). Mikroekonomie. Management Press.
  • Turečková, K., Kotlánová, E., & Tuleja, P. (2017). Mikroekonomie pro navazující studium. Distanční studijní text. SU OPF.
    recommended literature
  • Mankiw, N. G. (2016). Principles of Microeconomics. Cengage Learning.
Teaching methods
Lecture, seminar, work with text, work in teams, group discussion and group problem solving method, teaching using case studies.
Assessment methods
Active participation in seminars min. 60 % (10 % of the assessment), midterm test (30 % of the assessment), combined exam (60 % of the assessment)
Language of instruction
Czech
The course is also listed under the following terms Winter 2025.
  • Enrolment Statistics (recent)
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