## Obuda University |

## [GGXKG2EBNE] Microeconomics |

Institute: | Gazdaság- és Társadalomtudományi Intézet (1084 Budapest, Tavaszmező u. 15-17.) | Credit: | 2 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|

Type of classes: | Nappali | Language: | angol | Semester: | 2019/20/2 | ||||||

Level: | Mérnök informatikus BSc alapszak; | ||||||||||

Responsible Teacher: | Dr. Medve András | Teacher(s): | Dr. Szekeres Valéria; | ||||||||

Pre requirements: | GGXKG1EBNE | ||||||||||

Consultations (total/week): | Heti | Lectures: | 1 | Practice lectures: | 1 | Labs: | 0 | Consultations: | 0 | ||

Type of Exam: | félévközi jegy | ||||||||||

Aim of the subject: | The knowledge of rules of economy and the knowledge of real social contexts and interactions with the help of fundamental economic learning. The students can see the purposes and process of economic acts through understanding phenomena and actors of microeconomics. The microeconomics supports the tuition of applied economic subjects. |
||||||||||

Requirements during the semester (homeworks, essays, excercises, teamworks, presentations, part and final oral/written exam etc.): |
Week No. 7 and 13: written test to attain min. 50% of points. The students are required to participate in classes. The term is not succesful in the lack of above requirements. Evaluation happens by scoring. The tasks are theoretical and practical. The method of supplement: Students can write the test again in the last class. There is an extra exam only one time set out by tutor in the first 10 days of the exam period with the payment of examination fee. This is written exam based on the whole curriculum. |
||||||||||

Week of semester |
Topics of lectures/practices | ||||||||||

1. | Basics of economics. Demand and supply, finding the market equilibrium. Demand curve, supply curve and the Marshall Cross. Consumer surplus. Calculation tasks | ||||||||||

2. | Elasticity of demand (price elasticity, cross price elasticity and income elasticity of demand). Calculation tasks | ||||||||||

3. | Consumer behaviour (total and marginal utility functions). Maximizing total utility. Calculation tasks | ||||||||||

4. | Consumer preferences (indifference curves, the marginal rate of substitution). Budget constraint. Optimal choice. Calculation tasks | ||||||||||

5. | Producer behaviour. Production theory. Production functions (average product and marginal product). Optimal level of production. Calculation tasks | ||||||||||

6. | Production costs (accounting cost and economic cost). Calculation tasks | ||||||||||

7. | Test 1 | ||||||||||

8. | Cost functions (total cost, fix costs, variable costs, average costs and marginal costs). Calculation tasks | ||||||||||

9. | Market structure (perfect competition, monopolistic competition, oligopoly, monopoly). Calculation tasks | ||||||||||

10. | Game theory. Calculation tasks | ||||||||||

11. | Monopoly (maximizing profits, welfare cost of monopoly, deadweight loss). Calculation tasks | ||||||||||

12. | Production factors market (labour market, financial markets and capital markets, present value and future value of money). Calculation tasks | ||||||||||

13. | Test 2 | ||||||||||

14. | Replacement test | ||||||||||

Type of evaluation, repetition, calculation of grade, etc. |
Intervals of the grade: under 50%: 1 (unsatisfying,) 50-62 %: 2 (pass mark) 63-75 %: 3 (satisfactory mark) 76-88 %: 4 (good mark) 89-100%: 5 (excellence) |
||||||||||

Type of evaluation, repetition, calculation of grade, etc. |
Written exam | ||||||||||

Compulsory literature: |
Begg, Fischer, Dornbusch: Economics, McGraw-Hill Education (11th Edition) (relevant chapters) Samuelson, Nordhaus: Economics, McGraw-Hill, 2010 (relevant chapters) |