Objectives and competences
In this course students:
1. Systematically enhance their theoretical knowledge in the field of microeconomic analysis.
2. Gain the ability to analyse markets with respect to different types of competition.
3. Gain the ability to analyse the pricing policy for products and production factors with respect to different markets structures.
Content (Syllabus outline)
1.Specification and analysis of production function
2.Cost functions and the supply curve
3.Specification and analysis of demand function
4.Determinants of market structure
5.Markets under perfect competition, monopoly, monopolistic competition and oligopoly; prices of production factors
6.Analysis of market power, price discrimination and non-price competition
7.Definition of static and dynamic economic model
8.Analysis of market models
9.Price policy and competition policy
Learning and teaching methods
- lectures;
- labor work;
- teachers' consultations;
- self study with literature
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding
Students:
1. Have a detailed knowledge in the area of analysis of market structures and price formation with respect to market competition.
2. Are able to basic applications of microeconomic theory.
3. Learn how to analyse and to explain the links between different markets structures and regularities in pricing policy.
Intended learning outcomes - transferable/key skills and other attributes
Cognitive/Intellectual skills
Students:
1. Gain the understanding of microeconomic theory with emphasis on analysis of markets and price relations.
2. Get the ability to search for and synthesize new knowledge from the field of analysis of market structures and their determinants.
Key/Transferable skills
Studnts:
1. Further develop skills and expertise in the use of knowledge in the area of microeconomic analysis.
2. Upgrade the ability to become an autonomous learner.
3. Can link the determinants of market structure with case studies and with basic empirical evidence.
Practical skills
Students:
1. Get experience in the field of identifying factors of market competition and market structure.
Readings
Greenaway, David in C. W. Morgan (ur.). 1999. The Economics of Commodity Markets. Cheltenham: Edward Elgar.
Martin, Stephen. 1994. Industrial Economics. Economic Analysis and Public Policy. New York: Macmillan Publishing Company.
Pindyck, S. Robert in Daniel L. Rubinfeld. 2001. Microeconomics. London: Prentice Hall.
Tajnikar, Maks. 2006. Mikroekonomija s poglavji iz teorije cen. Ljubljana: Ekonomska fakulteta.
Additional information on implementation and assessment - preparation of seminar paper (a positively evaluated seminar paper is a prerequisite for taking the written exam); 30%
- written examination; 70%
