## Obuda University |

## [GGXKG1ABNE] Microeconomics |

Institute: | Gazdaság- és Társadalomtudományi Intézet (1084 Budapest, Tavaszmező u. 15-17.) | Credit: | 4 | ||||||||
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Type of classes: | Nappali | Language: | angol | Semester: | 2020/21/1 | ||||||

Level: | ERASMUS; Mûszaki menedzser BSc angol nyelvû képzés; | ||||||||||

Responsible Teacher: | Dr. Medve András | Teacher(s): | Földi Péter; | ||||||||

Consultations (total/week): | Heti | Lectures: | 2 | Practice lectures: | 2 | Labs: | 0 | Consultations: | 0 | ||

Type of Exam: | vizsga | ||||||||||

Aim of the subject: | The knowledge of rules of economy and the knowledge of real social contects and interactions by fundamental economic learning. The students can see though the purposes and process of economical acts with the knowing of phenomenons and actors of microeconomics. The microeconomics supports the tution of applied economic subjects. |
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Requirements during the semester (homeworks, essays, excercises, teamworks, presentations, part and final oral/written exam etc.): |
At the end of the semester students take a written exam. During the semester every student has two chances to pass the exam by writing 2 tests. Students have to reach 51% of each tests to get a recommended grade. Ont he last week and in the exam period there will be writing exam with the whole curriculum. Evaluation happens by scoring. The tasks are theoretical and practical. Intervals of the grade: under 50%: 1 (unsatisfying, gig) 51-60%: 2 (pass mark) 61-75%: 3 (satisfactory mark) 76-85% 4 (class) 86-100% 5 (excellence) |
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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. Requirements | ||||||||||

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). Isoquants and isocost lines. 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. | Pre-exam | ||||||||||

Type of evaluation, repetition, calculation of grade, etc. |
Intervals of the grade: under 50%: 1 (unsatisfying) 51-60 %: 2 (pass mark) 61-75 %: 3 (satisfactory mark) 76-85 %: 4 (good mark) 86-100%: 5 (excellence) |
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Type of evaluation, repetition, calculation of grade, etc. |
written test | ||||||||||

Compulsory literature: |
Samuelson, Nordhaus: Economics, McGraw-Hill, 2012 (relevant chapters) Begg, Fischer, Dornbusch: Economics, McGraw-Hill Education (11th Edition) (relevant chapters) |