The online lecture will take place on Wednesday from 8 to 9.40. Please use this link to register to a team on MS Teams. You need to sign in with the email uco@muni.cz (uco = you identification number; it is recommended to install the MS Teams app on your computer). The lectures will be recorded and available on MS Teams.

Schedule of topics

1. Budget constraint, preferences and utility (7/10)
2. Choice and revealed preference (14/10)
3. Demand and slutsky equation (21/10)
4. State holiday (28/10)
5. Consumer's surplus, market demand, and equilibrium (4/11)
6. Uncertainty (11/11) + a short test (opportunity to gain 1 extra point for the exam, covering lectures 1-5)
7. Technology and profit maximization, cost minimization and cost functions (18/11)
8. Firm supply and industry supply (25/11)
9. Monopoly and monopoly behavior (2/12)
10. Oligopoly and game theory (9/12)
11. Cartel and asymmetric Information (16/12)
12. Questions and answers (6/1)

Literature

• VARIAN, Hal R. Intermediate microeconomics: a modern approach. 8. ed. New York: Norton, 2010. xxiv, 739,. ISBN 9780393934243.
• BERGSTROM, Theodore C. a Hal R. VARIAN. Workouts in intermediate microeconomics. 8th ed. New York: W.W. Norton, 2009. 562, 38 s. ISBN 9780393935158.

Final exam

The final exam has 30 questions a/b/c/d/e, each with exactly one correct answer (see a sample test). The test covers topics from weeks 1 - 11. Correct answers are rewarded with 1 point, and incorrect or no answers with 0 points each. The time for the exam will be 120 minutes. Students may take the exam three times in the first year, and twice if they have Microeconomics 2 for the second time until they receive a passing grade. Students receive a grade for each attempt. So, for instance, the final result of a student who needs two attempts to succeed may be FC.

Grading:

• A: 26 – 30 points
• B: 23 – 25 points
• C: 21 – 22 points
• D: 19 – 20 points
• E: 17 – 18 points
• F: 0 – 16 points

Instructions

The test will be open book, you can use any materials. However, the test has to be written by the person logged in the IS. No communication with other persons during the test time is not allowed. Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (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 exam (credit test) by awarding grade "F" in the Information System.