1. Definition, stages of formation and functions of market.
2. Competition: functions and types.
3. Demand and supply: price and non-price factors.
4. Elasticity of demand and supply. Types of elasticity.
5. The equilibrium price.
Task for individual work
Tell about positive and negative results of market give the particular examples.
Vocabulary
| elasticity of demand (supply) | 
| () |
| unitary elasticity | 
| |
| equilibrium price | 
| |
| social division of labour | 
| |
| perfect (pure) competition | 
| () |
| monopolistic competition | 
| |
| related goods | 
| |
| tampering | 
| 䳿, |
| substitute goods | 
| |
| complement goods | 
| |
| ceteris paribus | 
| |
| invigorative, stimulative | 
| |
| distributive | 
| |
| to sanify, sanitate | 
| , |
| pricing | 
| |
| commodity producer | 
| |
| differentiation | 
| |
| bona fide (fair) competition | 
| |
| intra-branch, intra-sector | 
| |
| inter-branch | 
| |
| competitive struggle | 
| |
| interchangeable, substitutional | 
| |
| market capacity | 
| |
| expectation | 
|
Core reading
1. Scherer F. Industrial Market Structure and Economic Performance / F. Scherer, D. Ross. - Boston, 1990.
2. .., .. . : . : 2000, 2004. 480 .
3. . : . . / .. , .. . 2- ., . .: , 2008.378.
4. .. : . . 1. .: , 2004. 87 .
Additional reading
1. Kreps David M. A course in microeconomic theory. Prinston Univ Press, 1990, 429 p.
2. : : / . . .. . 5- ., . .: -, 2004.
Seminar 6. Money, money market and monetary policy
1. The essence, origin, forms and functions of money.
2. The equation of exchange (MV=PQ). The structure of monetary aggregates.
3. Inflation: the essence and types.
4. The role of National Bank of Ukraine in monetary policy regulation.
Task for individual work
Tell about evolution of monetary relations.
Vocabulary
| origin | 
| , |
| aggregated demand | 
| |
| liquidity | 
| |
| money supply, monetary aggregates | 
| |
| ready money, liquid assets | 
| |
| equivalent value | 
| |
| bank-note, bill | 
| |
| bill of exchange, promissory note | 
| |
| circulating medium | 
| |
| convertibility | 
| |
| tangible assets | 
| |
| monetary unit | 
| |
| financial resources | 
| |
| bankroll, funds | 
| |
| commodity-money relations | 
| - |
| accumulation | 
| |
| cashless |  
| |
| current account | 
| |
| personal account | 
| |
| retail trade, retailment | 
| |
| payment | 
| |
| financial transaction | 
| |
| deposit | 
| |
| gold and exchange currency reserves | 
| |
| bank-rate | 
| |
| exchange | 
| |
| average annual |  
| |
| inflation | 
| |
| devaluation, depreciation | 
|
Core reading
|
|
|
1. Woodford M.H. Fiscal Requirements for Fiscal Stability / M.H. Woodford. Cambridge, MA: National Bureau of Economic Research, 2001.
2. .., .., .. : . .: , 2001. 508 .
3. .. : . . 2. .: , 2005. 36 .
4. . : . . / .. , .. . 2- ., . .: , 2008. 378 .
Additional reading
1. Encyclopedia of International Political Economy. R.J. Jones. Routledge, 2001, 1776 p.
2. .. ( ). .: , 2003. 349 .
