DXE_MIKR Microeconomics

Faculty of Economics and Administration
Autumn 2017
Extent and Intensity
24/0. 12 credit(s). Type of Completion: zk (examination).
Teacher(s)
Leopold Sögner, Dr. (lecturer), doc. Ing. Rostislav Staněk, Ph.D. (deputy)
doc. Ing. Rostislav Staněk, Ph.D. (assistant)
Guaranteed by
doc. Ing. Libor Žídek, Ph.D.
Department of Economics – Faculty of Economics and Administration
Contact Person: Mgr. Lucie Přikrylová
Supplier department: Department of Economics – Faculty of Economics and Administration
Timetable
Thu 19. 10. 11:00–15:00 S308, Fri 20. 10. 11:00–15:00 S308, Thu 23. 11. 11:00–15:00 S308, Fri 24. 11. 11:00–15:00 S308, Thu 7. 12. 11:00–15:00 S308, Fri 8. 12. 11:00–15:00 S308
Prerequisites
This course needs to be preceded by a mathematical preparation course that will cover the following topics:
• Univariate and multivariate functions
• Exponential function and logarithm
• Differentiation of univariate functions and partial differentiation of multivariate functions
• Unconstrained optimization
• Constrained optimization using Lagrangians
• Basics of integration
• Basic statistics, expected value, variance, uniform distribution
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The aim of the course is to provide a rigorous graduate level training in microeconomic theory which provides a core of modern economic argumentation. At the of the course student should be able to understand and explain basic concepts of microeconomic theory at the standard international level. This ability creates a backgound for additional scientific work.
Syllabus
  • 1. Consumer Theory (10 lecture hours)
  • • Consumption space, utility function, indifference curves, marginal rate of substitution, budget constraint (GR 2A-B)
  • • Utility maximization, Marshallian demand and its comparative statics (GR 2C-D)
  • • Expenditure minimization, Hicksian demand, expenditure function, comparative statics for Hicksian demand (GR 3A)
  • • Duality, Slutsky equation, income and substitution effects (GR 3B)
  • 2. Producer Theory (6 lecture hours)
  • • Production functions, returns to scale (GR 5)
  • • Cost minimization, conditional factor demands, cost function (GR 6.A,B,E)
  • • Profit maximization, output supply, input demands, profit function (GR 7.A,C,D)
  • 3. General Equilibrium (4 lecture hours)
  • • Introduction (GR 12.A-B)
  • • Illustrative examples of GE: exchange economy and Robinson Crusoe economy (GR 12.E)
  • • Pareto efficiency and welfare theorems (GR 13.A,B,D,E)
  • 4. Choice under uncertainty (4 lecture hours)
  • • Choice under uncertainty (GR 17)
  • • Properties of utility function (GR 17)
  • • Risk aversion (GR 17)
Literature
    required literature
  • GRAVELLE, Hugh and Ray REES. Microeconomics. 3rd ed. Harlow: Prentice Hall, 2004, viii, 738. ISBN 0582404878. info
    recommended literature
  • MAS-COLELL, Andreu, Michael D WHINSTON and Jerry R GREEN. Microeconomic theory. New York: Oxford University Press, 1995. ISBN 0-19-510268-1. info
  • JEHLE, Geoffrey Alexander and PHILIP J. RENY. Advanced microeconomic theory. 3rd ed. Harlow: Prentice Hall, 2011, xvi, 656. ISBN 9780273731917. info
Teaching methods
Lectures, exercise sessions and home assignments
Assessment methods
Written exam, graded home assignments
Language of instruction
English
Further comments (probably available only in Czech)
Study Materials
The course can also be completed outside the examination period.
The course is taught annually.
Information on the extent and intensity of the course: 24 hodin přednášek za semestr.
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016.
  • Enrolment Statistics (recent)
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