Microeconomics
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Course informations
| Study program level |
Undergraduate |
| Study program |
Management |
| Study program direction |
Management of rural tourism |
| Course year |
1. |
| Course semester |
I |
| Course status |
Core |
| ECTS |
5 |
| Lectures (h) |
30 |
| Excercises (h) |
30 |
| Seminars (h) |
- |
Course objectives
To enable students to, at the beginning of their education, attain the principles with which to understand economic problems. Help students understand the economic perspective and its accurate and objective use in solving economic issues. Encourage permanent interest of students in economics and economy.
Course outcomes
Name of learning outcomes set: The production and cost function
Level: 5
- Comment on the function of production, total, average and marginal production, excision, the limit of technological substitution and transformation curve.
- Derive the cost function from the production function.
- Determine the marginal costs and comment on the relationship between the cost curves and perform the bid curve.
Name of the learning outcomes set: The theory of function and the elements of demand
Level: 5
- Comment on the underlying elements of demand and market structure.
- Explain and interpret functions and curves of demand, indifference, budget equations and consumer equilibrium.
- Comment on the correlation between spending, laws of decreasing marginal satisfaction, consumer benefit, demand functions, and between market structure and well-being
Name of the learning outcomes set: The price policy
Level: 6
- Determine the correlation between microeconomic theory and price policy, the impact of market categories of supply and demand, as well as fiscal allocations and subsidies.
- Recommend the pricing policy in terms of full competition and monopoly.
- Recommend the pricing policy under unfavorable competition conditions.
- Assess monopolistic competition - short-term balance and the functioning of the oligopoly and the cartel
Course content
Offer and demand: elasticity and application. Demand and behavior of consumers. Production and business organization. Cost analysis. How markets determine income. state taxation and expenditure
