Objectives and competences
Students enhance their knowledge in the field of theoretical microeconomic analysis and practice the application of microeconomic tools on examples of various market structures. Students gain skills in using databases and conducting econometric analyses.
Content (Syllabus outline)
1. Market Mechanism and Prices
2. Consumer Behavior and Demand Analysis
3. Production Function and Cost Analysis
4. Supply Decision and Competitive Markets
5. Market Structure I.: Monopoly
6. Market Structure II.: Monopolistic Competition and Oligopoly
7. Data Applications and Econometric Analysis of Selected Markets.
Learning and teaching methods
- lectures;
- solving problems using econometric software (EViews);
- teachers' consultations;
- self study with literature.
Intended learning outcomes - knowledge and understanding
In this course, students:
1. Systematically enhance their knowledge of microeconomics in the area of partial equilibrium analysis.
2. Acquire the ability to apply theoretical knowledge in deriving and analyzing market supply and market demand (PILO 1a).
3. Gain the ability to derive and formally analyze models of perfect competition and models of imperfect competition (PILO 2a, PILO 2c).
4. Have a deep and systematic understanding of microeconomic knowledge focusing on the analysis of price formation mechanisms and market competitiveness (PILO 2a, PILO 2c).
5. Are capable of using selected methodologies of data and econometric analysis to evaluate market relations and defend the results of using this methodology as well as substantive findings (PILO 2a, PILO 3b).
6. Gain practical experience in econometrics and become advanced users of the EViews econometric software (PILO 3a).
7. Are aware of their own ethical and professional responsibilities in the field of applied econometrics (PILO 4a).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Disciplinary methodologies:
They are capable to apply the selected research metodology for data and econometric analysis for the estimation of market relations, and interpret the results derived from this methodology.
Intended learning outcomes - transferable/key skills and other attributes
In this course, students:
1. Systematically enhance their knowledge of microeconomics in the area of partial equilibrium analysis.
2. Acquire the ability to apply theoretical knowledge in deriving and analyzing market supply and market demand (PILO 1a).
3. Gain the ability to derive and formally analyze models of perfect competition and models of imperfect competition (PILO 2a, PILO 2c).
4. Have a deep and systematic understanding of microeconomic knowledge focusing on the analysis of price formation mechanisms and market competitiveness (PILO 2a, PILO 2c).
5. Are capable of using selected methodologies of data and econometric analysis to evaluate market relations and defend the results of using this methodology as well as substantive findings (PILO 2a, PILO 3b).
6. Gain practical experience in econometrics and become advanced users of the EViews econometric software (PILO 3a).
7. Are aware of their own ethical and professional responsibilities in the field of applied econometrics (PILO 4a).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Readings
Pindyck S. Robert, Rubinfeld L. Daniel. 2018. Microeconomics. 9/E, London: Pearson.
Perloff M. Jeffrey. 2018. Microeconomics: Theory and Applications with Calculus. 4/E, London: Pearson.
Hill, R. Carter, Griffiths, William E., Lim, Guay C. 2018. Principles of Econometrics. 5/E, Hoboken (NJ): J. Wiley.
Additional information on implementation and assessment - Course paper (50%)
- Written exam (50%)
Course paper - individually written course paper with oral defence.
Written exam - student passes the exam, when each part of the examination is evaluated as positive.
