BE_PH_MIE Microeconomics

NEWTON University
winter 2022
Extent and Intensity
2/2. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Dipl.-Ing. Juan Pablo Maldonado, Ph.D. (lecturer)
Dipl.-Ing. Juan Pablo Maldonado, Ph.D. (seminar tutor)
Dipl.-Ing. Juan Pablo Maldonado, Ph.D. (alternate examiner)
Guaranteed by
doc. Ing. Milan Palát, Ph.D.
Centre for International Programmes – NEWTON University
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The course introduces students to the economics and focuses on the economics definition, methods, characteristics, and economy function. The course highlights the analysis of the market mechanism functioning, the consumers´ and companies´ behavior at the market. The course explains in detail the company´s balance conditions and the market in various situations and the essential context of equilibrium in the markets of production factors. The course deals with the theoretical basis of the microeconomic sphere functioning, microeconomic relations, concepts, analysis of demand, supply, market pricing mechanism, market equilibrium, demand and supply elasticity, consumer and company behavior in an environment of perfect and imperfect competition. The course deals with the production factors and production functions, state interventions from a microeconomic point of view, an alternative theory of the company or externalities. Special attention is paid to the functioning of the financial market/money and capital. The course also introduces students to the principles of microeconomic analysis.
Syllabus
  • Course main topics:
  • Microeconomics fundamental principles
  • Consumer behavior - usefulness and demand formation (ordinal vs. cardinal theory)
  • Manufacturer's behavior - costs and supply formation
  • Perfect competitive environment - market balance and efficiency
  • Imperfect competition - monopoly, oligopoly, monopsony
  • Regulation of monopolies, state price interventions, company alternative theories
  • Production factor markets - land, labor, and capital markets
  • Market failure, state microeconomic policy
Assessment methods
Ungraded credit (on campus): min. participation in seminars 80%, written credit test Ungraded credit (online): written credit test Examination (same for both forms): written final test 
Language of instruction
English
The course is also listed under the following terms winter 2020, winter 2021, summer 2023, winter 2023, summer 2024, winter 2024.
  • Enrolment Statistics (winter 2022, recent)
  • Permalink: https://is.newton.cz/course/nu/winter2022/BE_PH_MIE