Microeconomics

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The teaching of the subject “Microeconomics” is planned to include 90 hours of classroom hours. Of these, 45 hours are allocated to lectures and 45 hours to practical classes. Students’ independent work (TSI) is 210 hours. This includes SI – the performance and submission of independent work, preparation for lectures, seminars, laboratory classes, and colloquiums. Students are given 1 to 5 independent tasks or 2-5 students are given 1 independent task in groups. Each of the independent tasks is evaluated on a scale of 1-10, and a total of 10 points are allocated for the semester. If necessary, students may be given 1 free assignment with a larger and more scientific content. At this time, that free assignment is evaluated on a 10-point scale. At the end of the semester, the student's attendance in the subject is evaluated with 10 points, practical classes and colloquiums with 30 points, and free assignments with 10 points. The remaining 50 points in the subject are determined by the exam. The teaching load is planned to be fulfilled in the 1st semester. The teaching of the subject results in an exam. The educational program provides for 10 credits for the subject.

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1. 1

   CLO 1: Foundations of Microeconomic Theory: • Identifies and enumerates the fundamental concepts of microeconomics, market laws, and economic categories. Model Building and Economic Relations: • Explains the mechanism of supply and demand, interprets market processes, and describes individual consumer and firm behavior. Applied Analysis and Market Indicators: • Applies microeconomic models to calculate market equilibrium, price elasticity, and the supply and demand responses of individual firms. Diagnostics of Firm and Market Behavior: • Analyzes and compares firm behavior across different market structures, including perfect competition, oligopoly, and monopoly. The Practical Application of Microeconomic Models and the Substantiation of Decision-Making: Develops alternative decision options suitable for specific economic situations and correlates market conditions with theoretical models. Policy Interpretation and Evaluation: • Evaluates and justifies the outcomes of economic decisions in terms of market efficiency and social welfare