Course syllabus MI2 - Microeconomics II (FBE - SS 2019/2020)

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Course code:
Course title in Czech:
Microeconomics II
Course title in English: Microeconomics II
SS 2019/2020
Mode of completion and number of credits: Exam (6 credits)
Mode of delivery and timetabled classes:
full-time, 2/2 (hours of lectures per week / hours of seminars per week)
part-time, 16/0 (lectures per period / seminars per period)
Level of course:
master continuing
Course type:
Type of delivery: consulting
Mode of delivery for our mobility students abroad:
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Language of instruction: Czech
Course supervisor:
doc. Ing. Petr Rozmahel, Ph.D.
Course supervising department:
Teachers: Bc. Ing. Marek Litzman, Ph.D. (examiner, instructor, lecturer)
doc. Ing. Petr Rozmahel, Ph.D. (examiner, instructor, lecturer, supervisor)
Prerequisites: Final Bachelor Exam
Timetable in this semester:
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Aim of the course and learning outcomes:
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 content:
Consumer choice (allowance 8/10)
Cardinalistic and ordinalistic theory of utility, definition of utility, individual and market demand.
Elasticity of demand, decomposition of optimum changes into individual effects.
Expanding consumer theory, decision making between consumption and leisure time, decision making between present and future consumption.

Theory of the firm (allowance 12/12)
Production functions, incomes, costs and profit of the company.
Optimal production level, production balance of the company.
Firm in a perfectly competitive environment, market equilibrum.
d.Firm in imperfectly competitive environment, behavior of oligopoly, monopoly and monopolistic competition. Possibilities of discrimination and strategic behavior.

Exchange and market equilibrium (allowance 2/2)
Formation of market price and market equilibrium, state interference in market equilibrium.
Production possibilities frontier, advantages and benefits of exchange.

Factor markets (allowance 4/4)
Labor market, labor market equilibrium, equilibrium wage, minimum wage and other state interventions.
The behavior of the company in the labor market in a perfectly and imperfectly competitive environment, discrimination in the labor market.
Capital market, the role of interest rate.

General equilibrium, market failures (allowance 2/0)
General equilibrium, Pareto concept of efficiency.
Market failures: externalities, public goods, asymmetric information - implications for allocation and remedies.

Learning activities and teaching methods:
Type of teaching method
Daily attendance
Combined form
lecture28 h0 h
28 h
0 h
0 h
16 h
preparation for exam
70 h
152 h
preparation for regular assessment12 h
0 h
preparation for regular testing
30 h
0 h
168 h168 h
Assessment methods:
The course is finalized with the exam consisting of written and optionally oral part. The written part has the character of test and short supplementary questions. The condition for passing the exam is to obtain at least 50% of possible points. The final grade is given by the sum of points from the credit and the written part of the exam. A student who obtains 50% or more points in the written part has a right to apply for an oral examination.
The student may take the final exam if he / she has passed the preliminary tests. To pass the test the student must obtain at least 50% points from two written papers, which are written during the semester mainly from the content of exercises. At the same time it is necessary to obtain at least 40% of possible points from each individual written work. In case of failure it is possible to pass the preliminary test in a comprehensive correction term, from which it is necessary to get at least 50% points.
Assessment criteria ratio:
Requirement typeDaily attendance
Combined form
0 %
0 %
Recomended reading and other learning resources:
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.

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.

Course listed in study plans for this semester:
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Course listed in previous semesters: WS 2020/2021, WS 2019/2020, SS 2018/2019, WS 2018/2019, SS 2017/2018, WS 2017/2018 (and older)
Teaching place:

Last modification made by Ing. Jiří Gruber on 02/04/2020.

Type of output: