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Course, academic year 2024/2025
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Microeconomics I - JEB104
Title: Microeconomics I
Guaranteed by: Institute of Economic Studies (23-IES)
Faculty: Faculty of Social Sciences
Actual: from 2024
Semester: summer
E-Credits: 6
Examination process: summer s.:
Hours per week, examination: summer s.:4/2, Ex [HT]
Capacity: 185 / 256 (200)
Min. number of students: unlimited
4EU+: no
Virtual mobility / capacity: no
State of the course: taught
Language: English
Teaching methods: full-time
Additional information: http://ies.fsv.cuni.cz/cs/syllab/JEB104
Note: course can be enrolled in outside the study plan
enabled for web enrollment
priority enrollment if the course is part of the study plan
Guarantor: doc. PhDr. Julie Chytilová, Ph.D.
Teacher(s): Tersoo David Iorngurum
Mgr. Klára Kantová
Mgr. Vědunka Kopečná, Ph.D.
Mgr. Pavel Neumann
Mgr. Matěj Opatrný, Ph.D.
Mgr. Iñaki Alberto Veruete Villegas
Class: Courses for LLEP
Courses for incoming students
Pre-requisite : {Group of prerequisites: in order to fulfill the Mathematics requirement, students can complete either JEB005 or JEB118}, JEB003
Is incompatible with: JEB007
Is pre-requisite for: JEB108, JEB016, JEB147
Is interchangeable with: JEB007
In complex pre-requisite: JEB053
Annotation -
The course builds on the introductory microeconomics course (JEB003 or JEB101). It extends students' prior knowledge by introducing new concepts while applying standard analytic methods. It focuses on consumer behavior theory, including special topics on consumer preferences, optimal choice, consumer demand, revealed preferences, the measurement of welfare changes, intertemporal choice, and choice under uncertainty.
Last update: Iorngurum Tersoo David (06.02.2025)
Course completion requirements

Grades

The final grade will consist of three parts. In total, you can earn 100 points, divided into the following:

  • Midterm - max 30 points
  • Two home assignments (maximum 10 points each, in total 20 points)
  • Final exam (maximum 50 points) – Students must get at least 25 points (i.e., 50%) from the final exam to pass the course.

Home assignments should be completed individually or in groups of two students (unmatched students can get matched upon request, but working in groups is not guaranteed). They will contain exercises similar to those presented in the exercise sessions but will be of greater difficulty.

  1. HA released on March 25, due April 2
  2. HA released on May 13, due May 20

Midterm exam will cover questions from particular topics and will last around 80 minutes, starting at 12:30 in room 109. Midterm is scheduled for March 31.

During the semester, you will have a chance to take short quizzes in Moodle for you to practice what you have learned. These quizzes are completely voluntary and you don’t get any points for taking them. Questions (sometimes slightly modified) from these quizzes will appear in topic exams.

The final grade depends on the total points collected (as follows from the Dean's Provision No. 20/2019), while it is required to get at least 25 points in the final exam: 

  • A: Points > 90
  • B: 80< Points ≤ 90
  • C: 70< Points ≤ 80
  • D: 60< Points ≤ 70
  • E: 50< Points ≤ 60
  • F: Points ≤ 50

Exams

There will be four dates for the final exam:

  1. May 26th, 2025 12:30- 14:30, room 109
  2. June 9th, 2025  12:30- 14:30, room 109
  3. June 23th, 2025  12:30- 14:30, room 109
  4. September 1st, 2025 12:30- 14:30, room 109

The time limit is 120 mins. The maximum points you can get is 50. It will be a closed-book exam. You are NOT allowed to use any books or notes as well as internet-enabled electronic devices. You can use a calculator. Any other electronic devices (including mobile phones) are strictly prohibited. 

Last update: Opatrný Matěj, Mgr., Ph.D. (06.02.2025)
Syllabus -

Preliminary structure of the course

Date Hours Topic Varian,
Chapter
17.02.2025 12:30-13:50 Lecture 1: Introduction to microeconomics 1
17.02.2025 14:00-15:20 Lecture 2: Consumer theory: Budget constraint 2
18.02.2025 12:30-13:50 Tutorial session 1 and 2 (Group 1)  
19.02.2025 12:30-13:50 Tutorial session 1 and 2 (Group 2)  
19.02.2025 17:00-18:20 Tutorial session 1 and 2 (Group 3)  
24.02.2025 12:30-13:50 Lecture 3: Consumer preferences 3
24.02.2025 14:00-15:20 Lecture 4: Utility, utility function, monotonic transformation 4
25.02.2025 12:30-13:50 Tutorial session 3 (Group 1)  
26.02.2025 12:30-13:50 Tutorial session 3 (Group 2)  
26.02.2025 17:00-18:20 Tutorial session 3 (Group 3),   
03.03.2025 12:30-13:50 Lecture 5: Consumer choice, Kuhn-Tucker conditions 5
03.03.2025 14:00-15:20 Tutorial session 4 - ALL groups  
04.03.2025 12:30-13:50 Tutorial session 5 (Group 1)  
05.03.2025 12:30-13:50 Tutorial session 5 (Group 2)  
05.03.2025 17:00-18:20 Tutorial session 5 (Group 3)  
10.03.2025 12:30-15:20 Lecture 6: Demand and elasticities
6, 15
11.03.2025 12:30-13:50 Tutorial session 6 (Group 1)  
12.03.2025 12:30-13:50 Tutorial session 6 (Group 2)  
12.03.2025 17:00-18:20 Tutorial session 6 (Group 3)  
17.03.2025 12:30-13:50 Lecture 7: Hicksian decomposition of SE and IE 8
17.03.2025 14:00-15:20 Lecture 8: Expenditure minimization and Hicksian demand  
18.03.2025 12:30-13:50 Tutorial session 7, 8 (Group 1)  
19.03.2025 12:30-13:50 Tutorial session 7, 8  (Group 2)  
19.03.2025 17:00-18:20 Tutorial session 7, 8  (Group 3)  
24.03.2025 12:30-13:50 Lecture 9: Duality (Nechyba, ch.10 & Gravelle-Rees, ch. 3)  
24.03.2025 14:00-15:20 Lecture 10 - Revealed Preferences 7
25.03.2025 12:30-13:50 Tutorial session 9 (Group 1)  
26.03.2025 12:30-13:50 Tutorial session 9 (Group 2)  
26.03.2025 17:00-18:20 Tutorial session 9 (Group 3)  
31.03.2025 12:30-15:20 Lecture 11: Slutsky decomposition of SE and IE + Midterm
8
01.04.2025 12:30-13:50 Tutorial session 10 (Group 1)  
02.04.2025 12:30-13:50 Tutorial session 10 (Group 2)  
02.04.2025 17:00-18:20 Tutorial session 10 (Group 3)  
07.04.2025 12:30-13:50 Lecture 12: Welfare evaluation of economic changes 14
08.04.2025 12:30-13:50 Tutorial session 11 (Group 1)  
09.04.2025 12:30-13:50 Tutorial session 11 (Group 2)  
09.04.2025 17:00-18:20 Tutorial session 11 (Group 3)  
14.04.2025 12:30-15:20 Lecture 13: Buying and selling 9
15.04.2025 12:30-13:50 Tutorial session 12 (Group 1)  
16.04.2025 12:30-13:50 Tutorial session 12 (Group 1)  
16.04.2025 17:00-18:20 Tutorial session 12 (Group 3)  
21.04.2025 12:30-15:20 No class (Easter Monday)  
22.04.2025 12:30-13:50 Tutorial session 13 (Group 1)  
23.04.2025 12:30-13:50 Tutorial session 13 (Group 2)  
23.04.2025 17:00-18:20 Tutorial session 13 (Group 3)  
28.04.2025 12:30-15:20 Lecture 14: Labor Supply
9
29.04.2025 12:30-13:50 Tutorial session 14 (Group 1)  
30.04.2025 12:30-13:50 Tutorial session 14 (Group 2)  
30.04.2025 17:00-18:20 Tutorial session 14 (Group 3)  
05.05.2025 12:30-15:20 Lecture 15: Decision-making over time 10
05.05.2025 14:00-15:20 Tutorial session 15 - All groups  
06.05.2025 12:30-13:50 Tutorial session 16 (Group 1)  
07.05.2025 12:30-13:50 Tutorial session 16 (Group 2)  
07.05.2025 17:00-18:20 Tutorial session 16 (Group 3)  
12.05.2025 12:30-15:20 Lecture 16: Decision-making under uncertainty 12
13.05.2025 12:30-13:50 No tutorial (Rector's Day) – Group 1 on Wednesday  
14.05.2025 12:30-13:50 Tutorial session 17 (Group 2)  
14.05.2025 17:00-18:20 Tutorial session 17 (Group 3)  
 
Last update: Opatrný Matěj, Mgr., Ph.D. (06.02.2025)
 
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