Study programmes / B-EPA Economic policy and administration / Microeconomics I
Course code:MI1
Course title in language of instruction:Mikroekonomie I
Course title in Czech:Mikroekonomie I
Course title in English:Microeconomics I
Mode of completion and number of credits:Exam (6 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/1; part-time, 16/0
(full-time, hours of lectures per week / hours of seminars per week; part-time, lectures per period / seminars per period)
Language of instruction:Czech
Level of course:bachelor
Semester:WS 2018/2019 - FBE
Name of lecturer:Ing. Jitka Dušková, Ph.D. (instructor)
Ing. Aleš Franc, Ph.D. (instructor)
prof. PhDr. Kamil Fuchs, CSc. (lecturer, supervisor)
Ing. Veronika Kajurová, Ph.D. (instructor)
doc. Ing. Luděk Kouba, Ph.D. (instructor)
Ing. Michal Mádr, Ph.D. (instructor)
Ing. Bc. Martin Machay, Ph.D. (instructor)
Ing. Radek Náplava (instructor)
Prerequisites:not Final Bachelor Exam
 
Aims of the course:Student will gain basic knowledge in field of microeconomics on the level of introductory economics course. A marginal analysis is stressed. First, it is an instrument to identify rules of economic agent behaviour. Second, it is a base for understanding methods used in economic processes research.
Course contents:
1.Introduction to economics (allowance 4/2)
 
a.Economy and rules of using sources
b.Object and methods of economics
c.Market mechanism

2.Market demand and supply (allowance 4/2)
 
a.Marginal utility and consumer's behaviour
b.Market demand and its elasticity
c.Firm's cost and optimal output
d.Individual (firm) supply and market supply

3.Theory of market (allowance 8/4)
 
a.Market equilibrium and efficiency
b.Effects achieved by exchange
c.Market inefficiency of imperfect competition
d.Monopoly and its regulation

4.Factor markets (allowance 8/4)
 
a.Formation of demand on factor markets
b.Supply on factor markets
c.Laboure market mechanism and unemployement
d.Capital and investment decisions

5.Other characteristics of market environment (allowance 4/2)
 
a.Ownership and public goods
b.Externalities and other market failure

Learning outcomes and competences:
Generic competences:
 
-ability to analyse and synthesize
-basic computing skills
-capacity to learn
-professional knowledge
-science and research skills
-skilled at utilizing and processing information

Specific competences:
 
-Student can create graphic model of economic problem, solve the problem by suitable methods, interpret results
-student can explain the optimizing behaviour of economic agents including the consequences
-student describes decision-making processes of firms in perfectly and imperfectly competitive markets
-Student is able to define basic economic terms and name elementary economic connections
-student knows the impacts of market failures and can foresee their conseguences in individual cases

Type of course unit:required
Year of study:Not applicable - the subject could be chosen at anytime during the course of the programme.
Work placement:There is no compulsory work placement in the course unit.
Recommended study modules:none
Assessment methods:The course is finalised by exam consisting of 60 minutes written test followed by oral part. To pass the written part of the exam at least 50% success is requested. Emphasis is placed on written part. Student is evaluated as follows: A (at least 90%), B (at least 80%), C (at least 70%), D (at least 60%) or E (at least 50%). Students are obliged to attend the oral examination when reaching the E grade. Students may attend voluntarily the oral examination when reaching the B - D grades. Full time students need credit before passing the exam.
Credit: Two partial tests are written during the study period. 50% success (in average) is required to obtain the credit, at least 40% success in each test. In the case of failure, the student could write one compensatory test, 50% success is minimum to obtain the credit.
 
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h16 h
     practice14 h0 h
Self-study
     preparation for exam76 h152 h
     preparation for regular testing50 h0 h
Total168 h168 h

Basic reading list
  • HOLMAN, R. Ekonomie. 5th ed. V Praze: C.H. Beck, 2011. 696 p. Beckovy ekonomické učebnice. ISBN 978-80-7400-006-5.
  • MANKIW, N G. Zásady ekonomie. 1st ed. Praha: Grada Publishing, 2000. 763 p. ISBN 80-7169-891-1.
Recommended reading list
  • JUREČKA, V. et al. Mikroekonomie. 1st ed. Praha: Grada, 2010. 359 p. Expert. ISBN 978-80-247-3259-6.
  • MANKIW, N G. Principles of economics. 6th ed. Australia: South-Western, Cengage Learning, 2012. 856 p. International edition. ISBN 978-0-538-45342-4.
  • ŠEVELA, M. Mikroekonomie I: (úvodní kurz). 1st ed. Brno: Mendelova univerzita v Brně, 2011. 154 p. ISBN 978-80-7375-494-5.