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Terms for 2017

September, 5

Admission Interviews

September, 7

Open Day

September, 12

Admission Interviews

September, 14

Open Day

Full list of terms


Aim of the subject is to provide students with basic overview in the area of economics, respectively microeconomics. Economics studies redistribution of scarce resources. Microeconomics focuses on individual economic subjects as are households and firms and their interactions. When passing the subject the students should understand elementary relationships and connections eg. equilibrium and disequilibrium on the goods and services market.

What are you going to learn

  1. Introduction to economics - Understand elementary conceps economics deals with.
  2. Consumer behaviour and demand determination - Understand how consumer maximizing utility determines demand.
  3. Production - Understand how a firm produces and oprimizes.
  4. Cost and revenues - Relationships amont total, average and marginal veriables are basisc for form´s theory.
  5. Firm under perfect competition - Perfect competiton model is essential to understand real market structures.
  6. Market balance - Market is efficient while in equilibrium.
  7. Imperfect competition - Real markets are imperfectly competitive.
  8. Monopoly - Oligopoly and mopolistic competitonReal market is imperfectly competitive since there are bariers to entry.
  9. Firm's alternative goals - Firms may have other goals to profit maximization.
  10. Determination of price in input markets - Market for production factors differ from the market for goods and services.
  11. Labour and capital markets - Labour and capital markets have specific properties.
  12. Income and its distribution, markets failures - Income distribution is not uniform and market fails.

How the course is organized

Full time study  

The course consists of 12 lectures and 12 workshops, each lasting 1,5 hours.

Part time study

The course is taught in 4 tutorials, each lasting 3 hours.

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