Code:IMIE (FP mik1P)
Completion:accreditation+exam (written&verbal)
Type of
Hour/semLecturesSem. ExercisesLab. exercisesComp. exercisesOther
Guarantee:Škapa Stanislav, doc. Ing. et Ing., Ph.D., FBM
Lecturer:Kruntorádová Markéta, Ing., Ph.D., IE
Škapa Stanislav, doc. Ing. et Ing., Ph.D., FBM
Instructor:Jančíková Kateřina, Ing. et Ing., IE
Kruntorádová Markéta, Ing., Ph.D., IE
Faculty:Faculty of Business and Management BUT
Department:Institute of Management FBM BUT
Learning objectives:
  The goal of the course is to teach students to "think as an economist," which will help them to understand the world around, make better economic decisions in own lives, and be better informed citizens and voters. The course focuses on the economic theory and therefore will often rely on abstract concepts. However, the course will emphasize the application of these concepts to the real world situations through frequent in-class discussions of current events and interactive learning exercises.
  The course familiarises students with the basic tools of microeconomics. Economics is the study of how the society allocates its scarce resources, and microeconomics is the study of the behaviour of households and firms, whose collective decisions determine how the resources are allocated in a free market economy.
Knowledge and skills required for the course:
  The course does not require any prior knowledge of economics.
Learning outcomes and competences:
  Student will be made familiar with the theoretical approaches in the area of microeconomics, and he/she will understand the role of market in relation to other microeconomics entities and will be able to make a critical analysis of real features from the microeconomics area.
Syllabus of lectures:
  1. Introduction to economicsand development of microeconomics.
  2. Market system and rational consumer behavior.
  3. Formation of demand.
  4. Producer bidding and demand formation.
  5. Perfect competition and market equilibrium.
  6. Inperfect competition.
  7. Oligopol and monopolistitc competition, monopson.
  8. Markets of production facors, labor market.
  9. Capital market and land market.
  10. The microeconomic role of the state and the public sector.
  11. Externities and public goods.
  12. Behavioral economics.
  13. Alternative theories of firm.
Fundamental literature:
  • ŠKAPA, Stanislav. Mikroekonomie I. Vyd. 2., přeprac. Brno: Akademické nakladatelství CERM, 2012, 131 s. Učební texty vysokých škol. ISBN 978-80-214-4574-1. (in Czech)
  • MANKIW, Gregory N. Zásady ekonomie. Praha: Grada, 2000. ISBN 978-80-7169-891-1. (in Czech)
  • HOLMAN, Robert. Mikroekonomie: středně pokročilý kurz. 2., aktualiz. vyd. V Praze: C.H. Beck, 2007, xvi, 592 s. Beckovy ekonomické učebnice. ISBN 978-80-7179-862-0. (in Czech)
  • HOŘEJŠÍ, Bronislava. Mikroekonomie. 5., aktualiz. vyd. Praha: Management Press, 2010, 574 s. ISBN 978-80-7261-218-5. (in Czech)
Study literature:
  • ŠKAPA, S., KRUNTORÁDOVÁ, M., STUDENÍKOVÁ, J. Mikroekonomie I -sbírka příkladů. VUT v Brně, CERM 2008, 122 s., ISBN 978-80-214-3740-1 (in Czech).
  • FRANK, H. R., BERNANKE, B. S. Ekonomie. Grada, 2004, 802 s., ISBN 80-247-0471-4 (in Czech).
Controlled instruction:
  Requirements for the exam are the knowledge of the subject and the obtained credit.
The form of the exam is written (contains approximately 14 - 18 examples or theoretical questions), the student can obtain a maximum of 60 points, for successful completion of the course the student must obtain at least 33 points.

Scale for the final classification (the student can get a maximum of 40 points and a maximum of 60 test points, ie a total of 100 points):
A: 90-100 b.
B: 80-89 b.
C: 70-79 b.
D: 60-69 b.
E: 50 - 59 b.
F: less than 50 b.
Progress assessment:
  Participation in exercises is continuously checked. The condition is 75% attendance at seminars.
Exam prerequisites:
  The credit of the subject of Microeconomics 1 is obtained at a minimum of 24 points out of 40 total points. Student can earn points by activity:
a) Credit test - the student must obtain at least 18 points out of 30.
b) Small pieces - the student can get up to 6 points.
c) Active participation in the exercises - the student can get up to 4 points.