Objectives and competences
Students systematically upgrade their knowledge in the field of theoretical microeconomic analysis. Students become proficient in using microeconomic tools to analyze price conditions and price disparities, especially at the level of final consumption.
Content (Syllabus outline)
1. Economic models and methodology of microeconomic analyis
2. Demand analysis and the concept of elasticity
3. Production function and supply of the firm
4. Pricing in perfect competition, monopoly, monopolistic competition and oligopoly
5. Determination of prices of production factors
6. Analysis of price level, price parities and price disparities on selected markets
Learning and teaching methods
- lectures;
- labor work;
- teachers' consultations;
- self study with literature.
Intended learning outcomes - knowledge and understanding
Students in this course:
1. Systematically upgrade their knowledge of microeconomics in the area of partial equilibrium analysis.
2. Understand the microeconomic foundations of general equilibrium formation and economic efficiency (PILO 2a).
3. Have a deep and systematic understanding of knowledge in microeconomics, focusing on the analysis of price formation mechanisms and market competitiveness (PILO 2a, PILO 2c).
4. Are able to apply selected methodology for analyzing price relationships, based on the concept of purchasing power parity, and defend the results of using this methodology (PILO 1a, PILO 3b).
5. Can analyze more complex and conflicting findings from market research and can explain the results of their applied research clearly (PILO 1a, PILO 3b).
6. Can synthesize insights from their research problem and see the practical value of the acquired knowledge, especially in understanding the price mechanisms of individual economies (PILO 1a, PILO 3b).
7. Demonstrate independence in planning and are aware of their own ethical and professional responsibilities in carrying out their applied work (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.
Intended learning outcomes - transferable/key skills and other attributes
Students in this course:
1. Systematically upgrade their knowledge of microeconomics in the area of partial equilibrium analysis.
2. Understand the microeconomic foundations of general equilibrium formation and economic efficiency (PILO 2a).
3. Have a deep and systematic understanding of knowledge in microeconomics, focusing on the analysis of price formation mechanisms and market competitiveness (PILO 2a, PILO 2c).
4. Are able to apply selected methodology for analyzing price relationships, based on the concept of purchasing power parity, and defend the results of using this methodology (PILO 1a, PILO 3b).
5. Can analyze more complex and conflicting findings from market research and can explain the results of their applied research clearly (PILO 1a, PILO 3b).
6. Can synthesize insights from their research problem and see the practical value of the acquired knowledge, especially in understanding the price mechanisms of individual economies (PILO 1a, PILO 3b).
7. Demonstrate independence in planning and are aware of their own ethical and professional responsibilities in carrying out their applied work (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
Cohen, S. I. 2001. Microeconomic Policy. London: Routledge.
IEDP. 2010. Analiza konvergenčnih procesov na primeru cen in plač v Sloveniji, Avstriji in na Češkem. Maribor: EPF.
Pindyck S. Robert, Rubinfeld L. Daniel. 2018. Microeconomics. 9/E, London: Pearson.
Perloff M. Jeffrey. 2014. Microeconomics with Calculus. Pearson.
Additional information on implementation and assessment - Course paper;
- Oral exam.
Course paper - individually written course paper
Oral exam - student passes the exam, when each part of the examination is evaluated as positive.
