Schedule of topics

1. First Seminar - Review of Mathematics (no points) (23/9)
2. Budget Constraint, Preferences and Utility (30/9)
3. Choice and Revealed Preferences (7/10)
4. Demand and Slutsky Equation (14/10)
5. Consumer's Surplus, Market Demand and Equilibrium (21/10)
6. Public holiday (28/10)
7. Uncertainty + first test (4/11)
8. Firm (11/11)
9. Firm Supply and Industry Supply (18/11)
10. Monopoly and Monopoly Behavior (25/11)
11. Oligopoly and game theory (2/12)
12. Cartel and Asymmetric Information (9/12)
13. Exchange and Production + second test (16/12)

Study materials

In the seminars we will use the text by Theodor Bergstrom a Hal Varian Workouts in Intermediate Microeconomics, W. W. Norton & Company. You will find the relevant chapters of the text in the other part of the syllabus.

Evaluation of seminars

For passing the course (there is no grade, only a credit), you need to have 60 points out of the maximum score 108 points. You may earn up to 60 points from the two tests and 48 points for the work in seminars. If your total number of points is less than 60 at the end of the semester, you may resit one of the tests. In the final evaluation, the points from the resit will be counted instead of the points from the chosen test.

Tests

There will be two tests: the first test with 5 questions for a total of 25 points and the second test with 7 questions for 35 points. Problems in the test will be similar to the problems solved during the seminars. The first test takes place in the 7th week and covers topics from week 2 through 5. The second test is written in the 13th week and covers topics from week 7 through 12  (see schedule of topics). If you miss the test in the scheduled date and have a document from the MD in the information system, you can write the test on a later date.

Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of credit tests will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the credit test. You receive 0 points and lose any chance to earn any points from the test.

Work in seminars

Any seminar, with the exception of the first seminar, in which no points can be earned, contains obligatory problems and +1 point problems. If you are present in the entire seminar, you may earn up to 4 points: 3 points for your preparation and 1 point for your activity during the seminar.

The preparation is tested in the following manner. In every seminar, you may be asked once to solve an obligatory problem (or a part of it). If you solve the problem satisfactorily, and you are able to explain the your approach, you earn 3 points. If the performance is lacking, you earn less than 3 points. If you are asked and refuse to solve the problem, you get 0 points. If in the course of the seminar you are not asked to solve any obligatory problem, we will assume that you were ready and receive 3 points (given you are present during the entire seminar). 

You may earn additional point for activity when the +1 point problems are solved. It may be sufficient to contribute to the solution. Unlike the obligatory problems, it is not necessary to have the +1 points problems prepared in advance. On the other hand, problem-solving activity at the seminar is appreciated.

If you miss a seminar for any reason, you earn 0 points for the seminar. The points can be partly compensated only in the case of a substantial absence (which is well documented in the IS).