Microeconomics

Semester
2.
ECTS credits
6 ECTS

Goal

• provide students with insight into the fundamental knowledge of microeconomic science and demonstrate through examples the possibilities of applying the fundamental tools of microeconomic analysis;
• to train students for independent analysis and critical reflection on the basic economic problems faced by modern companies;
• provide students with the necessary theoretical basis for analyzing key economic problems and preparing decisions for their solution;
• train students to solve microeconomic quantitative problems, that is, develop the ability to valorize microeconomic models, and evaluate their reality and usefulness.

Additional info

• Consumer behavior;
• Individual and market demand;
• Elections in conditions of uncertainty;
• Production;
• Cost of production;
• Profit maximization and competitive offer;
• Analysis of competitive markets;
• Market power: monopoly and monopsony;
• Price determination and market power;
• Monopolistic competition and oligopoly;
• Game theory and competitive strategy;
• Basics of supply and demand.

Lectures: 45
Seminars: 15
Exercises: 15

1. assess supply and demand, including market equilibrium and elasticity;
2. review graphical analysis to determine the impact of various events on consumers and producers, including public policy;
3. evaluate the nature of production and the costs of the company;
4. compare the implications for behavior arising from different types of market structures;
5. apply tools such as pricing strategies, current value analysis, and game theory to make business decisions;
6. evaluate the methods of microeconomic analysis.

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