After successful completion of the course, students are able to analytically solve for demand and supply functions for various forms of the utility and respectively production function, to analyse and economically discuss the properties of demand and supply functions.
Theory of the private household (utility maximization and expenditure minimzation, ordinary and hicks demand function, slutzky equation)Theory of firm (cost minimization, profit maximization, factor demand and goods supply functions)Market structures and price formation (perfect competition, monpoly, monopolistic competition, oligopoly)
analysis of microeconomic models with algebraic and graphical means
economic interpretation of microeconomic relations
The final grade is based on the performance at the board and the number of examples marked.
