Schedule of topics

1. Orientation week 
2. Budget constraint, preferences, and utility (21/9)
3. National holiday (28/9)
4. Choice and revealed preference  (5/10)
5. Demand and Slutsky equation (12/10)
6. Consumer's surplus, market demand, and equilibrium (19/10)
7. Uncertainty + a short test (opportunity to gain 1 extra point for the exam, covering lectures 2-6)
   (26/10)
8. Study week (2/11)
   
9.  Technology and profit maximization, cost minimization, cost functions  (9/11)
   
10. Firm supply and industry supply  (16/11)
11. Monopoly and monopoly behavior (23/11)
12. Oligopoly and game theory (30/11)
13. Cartel and asymmetric Information (7/12)
14. Questions and answers (14/12)

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