Infopaket

Principles of microeconomics

ОК 04

Обов’язкова дисципліна для ОП

First

2021/2022

2 Semester

4

Knowledge of microeconomics nature, its place in economic science; consumer behavior; firm behavior; how to apply economic principles to a range of policy questions. Analyze different types of market structures (monopoly, oligopoly, and a competitive market). Skills of usage of supply and demand diagrams to analyze the impact of overall changes in supply and demand on price and quantity; to understand the consumer's labor supply decision; to analyze the behavior of firms in a perfectly competitive market in the short-run and the long-run; to analyze the behavior of firms in a monopoly or oligopoly and calculate the resulting changes in producer or consumer surplus. Communication in course of presentations preparation. Autonomy and responsibility in course of evaluating the state, discovering conditions, and defining prospects of economic development, particularly in the international environment.

Distance form

1) Knowledge of general material implied by secondary education level programs, including those necessary for entering high school. 2) Awareness of basic notions and concerns in economic and business activity, commercial operations. 3) Skills of working with the Internet, information, and data search. 4) Proficiency in the English language.

Part I. 1. The Nature and Method of Economics 2. Extensions of Demand and Supply Analysis 3. Consumer Behavior and Utility Maximization 4. The Costs of Production 5. Keynesian Model of Macroeconomic Equilibrium 6. Pure Competition 7. Pure Monopoly 8. Imperfect Competition – Monopolistic Competition and Oligopoly Part ІІ. 9. The Demand for Resources 10. Wage Determination 11. Government and Market Failure 12. Public Choice Theory and the Economics of Taxation

1. Krugman P., Robin Wells Microeconomics. New York: Worth Publishers, Macmillan Learning, 2018. 2. Mankiw, N. Gregory. Principles of Microeconomics. Toronto: Nelson Thomson Learning, 2017. 3. Pindyck R., Daniel L Rubinfeld Microeconomics. NY, Pearson, 2018. 4. Campbell R. McConnell, Stanley L. Brue, and Sean Masaki Flynn. Economics: Principles, Problems, and Policies. Boston: McGraw-Hill Irwin, 2009.

Lecture (power point presentation), seminar, self-study

1. Working at seminars – speeches, additional remarks, debates, discussions, brief tests, typical problems solving, presentations, case study reports – up to 60 points. 2. Midterm exam (complex test) – up to 20 points. 3. Final evaluation – up to 20 points.

English