ESF:DXE_MIKR Microeconomics - Course Information

DXE_MIKR Microeconomics

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. (assistant)

Guaranteed by

doc. Ing. Libor Žídek, Ph.D.
Department of Economics – Faculty of Economics and Administration
Contact Person: Mgr. Jarmila Šveňhová
Supplier department: Department of Economics – Faculty of Economics and Administration

Timetable

Thu 6. 11. 11:00–12:30 S308, 13:30–15:00 S308, Fri 7. 11. 11:00–12:30 S308, 13:30–15:00 S308, Thu 27. 11. 11:00–12:30 S308, 13:30–15:00 S308, Fri 28. 11. 11:00–12:30 S308, 13:30–15:00 S308, Thu 11. 12. 11:00–12:30 S308, 13:30–15:00 S308, Fri 12. 12. 14:05–18:05 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

there are 22 fields of study the course is directly associated with, display

Course objectives

The aim of the course is to provide a rigorous graduate level training in microeconomic theory with opportunities to apply principles to applications and policy problems.

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. Inefficiencies (4 lecture hours)
• • Taxes on sales, consumption, and income
• • Externalities (GR 14)
• • Public Goods (GR 14)

Literature

• GRAVELLE, Hugh and Ray REES. Microeconomics. 3rd ed. Harlow: Prentice Hall. viii, 738. ISBN 0582404878. 2004. info
• KREPS, David M. A course in microeconomic theory. 1st ed. Harlow: Financial Times Prentice Hall. xviii, 839. ISBN 0745007627. 1990. info
• MAS-COLELL, Andreu, Michael D WHINSTON and Jerry R GREEN. Microeconomic theory. New York: Oxford University Press. ISBN 0-19-510268-1. 1995. info
• VARIAN, Hal R. Microeconomic analysis. 3rd ed. New York: Norton. xv, 506. ISBN 0393957357. 1992. info

Teaching methods

Lectures, exercise sessions on ungraded home assignments

Assessment methods

Written exam

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.

Information about innovation of course.

This course has been innovated under the project "Inovace studia ekonomických disciplín v souladu s požadavky znalostní ekonomiky (CZ.1.07/2.2.00/28.0227)" which is cofinanced by the European Social Fond and the national budget of the Czech Republic.

• Enrolment Statistics (Autumn 2014, recent)
  
• Permalink: https://is.muni.cz/course/econ/autumn2014/DXE_MIKR