| Course title | Basics of Economy and National Industry Theory II. |
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| Course code | KPO/ENHT2 |
| Organizational form of instruction | Lecture + Seminar |
| Level of course | Master |
| Year of study | 1 |
| Semester | Summer |
| Number of ECTS credits | 5 |
| Language of instruction | Czech |
| Status of course | Compulsory |
| Form of instruction | Face-to-face |
| Work placements | This is not an internship |
| Recommended optional programme components | None |
| Lecturer(s) |
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| Course content |
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Themes: 1. Introduction to the subject - organization of the subject, requirements. Introduction to microeconomics - what is microeconomics, position within economics, basic research methods of micro economic analysis. Practical examples. 2. Market equilibrium - cobweb theorem - diverging and converging cobweb. Regulated prices, shortage and surplus. Practical examples. 3. Consumer theory I. - introduction, definition of utility, cardinality and ordinal versions, law of downward sloping demand curve 4. Consumer theory II. - Budget line restriction, consumer equilibrium in cardinality version, demand curve in cardinality version. Practical examples. 5. Consumer theory III. - Consumer equilibrium in ordinal version, demand curve in ordinal version, income effect and substitution effect and its graphical illustration. Practical examples. 6. Consumer theory IV. - Consumer´s in cardinality and ordinal versions. Changes in prices of goods and consumer´s income, its influence on the budget line 7. Theory of firm I. - basic concepts of the analysis of the firm, production possibility frontier, production in short term - total, average and marginal product. 8. Theory of firm II. - Production in long term, isoquant, isocost. Practical examples. 9. Theory of firm III. - cost of the firm in short and long term. 10. Theory of firm IV.- income of the firm in short and long run 11. Theory of firm V.-choice of outcome in perfect competition environment. 12. Theory of firm VI.-choice of outcome in imperfect competition environment.
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| Learning activities and teaching methods |
| Monologic Lecture(Interpretation, Training) |
| Learning outcomes |
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It is a continuation of the subject Basics of Economy and National Industry Theory I. The subject looks at the economy from a different point of view - micro economical this time. It covers the theory of consumer, formation of demand, the concept of utility and forms of its measurements and the behaviour of a consumer. This is then linked to the theory of firm where categories such as the incomes and costs in short and long terms are looked at and analysis the possibilities of optimal outcome of a firm. That is being done in the environment of perfect and imperfect competition. Innovation of the subject has been supported by the project Support of Interdisciplinary studies and Study Programmes Innovations at Palacky University in Olomouc, CZ.1.07/2.2.00/28.0091.
Students who have completed this course will gain the knowledge and skills in economic problems in connection with law. |
| Prerequisites |
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Completion of the "Basics of Economy and National Industry Theory I." is a prerequisite for this course.
KPO/ENHT ----- or ----- KPO/ENHT1 ----- or ----- KPO/ZENHT |
| Assessment methods and criteria |
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Mark
In order to pass the subject the student needs to actively participate in the lessons within the limit set by the teacher and also pass the final written test. The student is required to work with the learning objects, which have been created for the concrete subject and are available for authorized students in LMS EDIS. |
| Recommended literature |
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| Study plans that include the course |
| Faculty | Study plan (Version) | Category of Branch/Specialization | Recommended semester | |
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| Faculty: Faculty of Law | Study plan (Version): European Studies Focusing on European Law (2017) | Category: Social sciences | 1 | Recommended year of study:1, Recommended semester: Summer |