Study programmes / C-SE System engineering and informatics / Microeconomics II
Course code:MI2
Course title in language of instruction:Mikroekonomie II
Course title in Czech:Mikroekonomie II
Course title in English:Microeconomics II
Mode of completion and number of credits:Exam (6 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/2; 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:master continuing
Semester:WS 2019/2020 - FBE
Name of lecturer:doc. Ing. Petr Rozmahel, Ph.D. (supervisor)
Prerequisites:Final Bachelor Exam
Aims of the course:The course provides a standard overview of microeconomic theory corresponding to intermediate courses. The course is primarily focused on extension of the consumer and firm theory in particular market settings. The course also aims at market efficiency and market failures. A particular attention is paid to theory applications.
Course contents:
1.Consumer choice (allowance 8/10)
a.utility, optimal choice, consumer demand, market demand and gross demands, initial endowment, intertemporal choice
c.leisure time, uncertainty

2.Theory of the firm (allowance 10/12) and production, costs and revenues, firm profit
b.optimal production in the firm
c.output, price and profit in the short run and the long run
d.firm supply and market environments

3.Exchange and market equilibrium (allowance 4/2)
a.production possibility frontier, exchange, Pareto efficiency
b.price, market equilibrium and its changes, state interventions and regulations

4.Factor markets (allowance 4/4)
a.equilibrium in factor markets
b.imperfect competition in the labour market
c.interest rate and capital market equilibrium

5.General equilibrium, property rights and public choice (allowance 2/0)
a.general equilibrium
b.externalities, public goods

Learning outcomes and competences:
Generic competences:
-ability to analyse and synthesize
-ability to solve problems
-professional knowledge
-science and research skills
-skilled at utilizing and processing information

Specific competences:
-student can decide about appropriate approach to microeconomic modelling of economic reality
-student can describe and expain the neo-classicalmicroeconomic model of consumer decision-making
-student is able to explain behaviour of perfectly and imperfectly competitive market in neo-classical a alternative views
-student knows to model the consumer behavior in different market situations
-student knows to derive the consequences in firm behaviour to market preformance
-student understands the principles of general equilibrium approach

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 finalized with the exam consisting of written and oral part. The written part contains a computational task, multiple-choice test of 10 questions and an open-ended question. The written part is awarded with the maximum of 100 points divided as follows: the computational tasks 25 points, multiple-choice test 40 points and open-ended question 35 points. To pass the written part, the minimum of 50 points is requested. If successful and being awarded with less than 70 points, the exam continues with the oral part. Otherwise the oral part is voluntary.
The final exam can be taken only after passing 2 preliminary tests. The minimum of 10 points out of 25 points in each test and the minimum of 25 points in total are required.
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h0 h
     practice28 h0 h
     consultation0 h16 h
     preparation for exam70 h152 h
     preparation for regular assessment12 h0 h
     preparation for regular testing30 h0 h
Total168 h168 h

Basic reading list
  • HOLMAN, R. Mikroekonomie: středně pokročilý kurz. 2nd ed. V Praze: C.H. Beck, 2007. 592 p. Beckovy ekonomické učebnice. ISBN 978-80-7179-862-0.
  • VARIAN, H R. Intermediate microeconomics: a modern approach. 8th ed. New York: W.W. Norton & Co., 739 p. ISBN 978-0-393-93424-3.
Recommended reading list
  • ŠEVELA, M. -- MELICHAROVÁ, A. Mikroekonomie II: (středně pokročilý kurz). 1st ed. Brno: Mendelova univerzita v Brně, 2011. 168 p. ISBN 978-80-7375-565-2.
  • SOUKUPOVÁ, J. -- HOŘEJŠÍ, B. -- MACÁKOVÁ, L. Mikroekonomie (5. aktualizované vydání). Praha: Management Press, 2010. 576 p. ISBN 978-80-7261-218-5.