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The Course Objectives
} to provide the theoretical basis for teaching economics
} to give an in-depth understanding of the principles and laws of the market economy
} to introduce the specifics of microeconomic analysis and modeling
The Subject
Economic relations associated with the effective use of limited resources to meet the needs of economic entities
Economic actors:
} Households
} Companies
} The state
The course structure
Section 1. The formation of consumer demand
} The theory of marginal utility
} The law of demand, and the factors that influence the demand
} The theory of elasticity of demand
Section 2. The formation of market supply
} The theory of marginal utility
} The law of demand, and the factors that influence the demand
} The theory of elasticity of demand
Section 3. The interaction between supply and demand
} Nature and types of market equilibrium
} Violations of equilibrium and market mechanisms to regulate
Section 4. Firms behavior in different market types
} Nature and types of competition (perfect (free) competition, monopolistic competition, oligopoly and absolute mon o poly)
} The problem of profit maximization under perfect competition, monopolistic competition, oligopoly and absolute monopoly
Section 5. Pricing in factor markets and income distribution
} Labor market
} Capital market
} Land market
}
Methods of instruction
Types of classes:
} lectures, seminars, exams
Modern educational technologies:
} Project method (presentation of reports, reports on the course project)
} Distance learning (electronic exchange of information, reporting on assignments)
} A task based approach (building econometric models, problem solving)
} Communicative approach (discussion of problematic situations in the classroom, round tables)
} Research approach (the study of scientific problems, scientific conferences)
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