Fundamentals of Economics
Code  Completion  Credits  Range  Language 

2381002  Z,ZK  5  2P+2C  Czech 
 Lecturer:
 Theodor Beran (guarantor), Patrik Budský, Jan Lhota
 Tutor:
 Theodor Beran (guarantor), Patrik Budský, Jan Lhota, Petr Žemlička
 Supervisor:
 Department of Management and Economics
 Synopsis:

The course is focused on the following subjects: basic economic relations and consequences. Economic aggregates and their consequences. Operating of the economics according to so called macroekonomic circle, various economic theories. Consumption behaviour in microeconomics. Theory of production. Different markets and competitions.
 Requirements:

Knowledge of mathematics, especially investigation during the preliminary functions, the notion of derivation and integral.
 Syllabus of lectures:

1) Introduction to Economics, basic concepts and definitions of economics and its division.
3) Graph Theory, basic economic issues, production possibility frontier, opportunity cost.
4) Models in Economics  dependent and independent variable, endogenous and exogenous variables of functions, types of graphs, mathematical model.
5) Theory of utility  derivation of demand functions, equilibrium consumer.
6) Theory of cost  basic relationships, average and marginal values, graphs.
7) Theory of revenue  basic relationships, average and marginal values, graphs.
8) Theory of profit  basic relationships, average and marginal values, graphs.
9) Elasticity functions, factors affecting demand, the impact elasticity of demand to change the overall income.
10) Production function  factors of production, balance, basic relations and graphs.
11) Scheme of the macroeconomic cycle  two markets participants and a description of economic relations between the parties. 12) The principle of measurement of economic performance, national accounts. 13) Macroeconomic aggregates  company's balance sheet and the balance of national wealth and total product  links.
 Syllabus of tutorials:

1) Introduction, requirements, literature, ...
2) Revision of basic concepts, the concept of economics and division, assignment term paper.
3) Fundamentals of graph theory, reading charts, economic issues, production possibility frontier, opportunity cost.
4) Models in Economics  dependent and independent variable, endogenous and exogenous variables of functions, types of graphs, mathematical model.
5) Theory of utility  derivation of demand functions, equilibrium consumer.
6) Theory of cost  basic relationships, average and marginal values, graphs.
7) Theory of revenues and earnings  basic relationships, average and marginal values, graphs.
8) Elasticity functions, factors affecting demand, the impact of elasticity of demand to change the overall income.
9) Production function  factors of production, balance, basic relations and graphs.
10) Scheme of the macroeconomic cycle  two markets participants and a description of economic relations between the parties. 11) Scheme of the macroeconomic cycle  design national economic aggregates, the principle of measuring the performance of the economy, national accounts.
12) Macroeconomic aggregates  company's balance sheet and the balance of national wealth and total product  links + test.
13) Evaluation of tests, inspection and advocacy work + semester credits.
 Study Objective:

Goal of the course is to develop understanding of basic terms and relations in the field and to develop economic principles.
 Study materials:

SAMUELSON, P.A. NORDHAUS,W. Ekonomie, Svoboda, Praha, 1991.
SOJKA, M. PUDLÁK,J. Ekonomie,Fortuna, Praha,2006.
SEDLÁČEK T.: Ekonomie dobra a zla, 2. rozš. Vyd. Praha 65 pole 2012, 368 s. ISBN: 9788087506103.
PAVELKA, T. Makroekonomie. Základní kurz. 3. vyd. Praha: Vysoká škola ekonomie a managementu, 2010. 273 s. ISBN 9788086730554..
 Note:
 Timetable for winter semester 2020/2021:
 Timetable is not available yet
 Timetable for summer semester 2020/2021:

06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon Tue Fri Thu Fri  The course is a part of the following study plans:

 16 80 85 00 BVES TVA 2012 P základ (compulsory elective course)
 14 80 85 00 BVES MAT 2012 P základ (compulsory elective course)
 15 80 85 00 BVES OBR 2012 P základ (compulsory elective course)
 13 80 85 00 BVES EKO 2012 P základ (compulsory elective course)
 18 86 90 00 BVES MAT 2012 K základ (compulsory elective course)
 20 86 90 00 BVES TVA 2012 K základ (compulsory elective course)
 19 86 90 00 BVES OBR 2012 K základ (compulsory elective course)
 17 86 90 00 BVES EKO 2012 K základ (compulsory elective course)
 13 80 85 00 DVES 2012 P úvodní studijní plán (compulsory elective course)
 13 80 85 00 DVES EKO 2012 P (compulsory elective course)
 14 80 85 00 DVES MAT 2012 P (compulsory elective course)
 15 80 85 00 DVES OBR 2012 P (compulsory elective course)
 16 80 85 00 DVES TVA 2012 P (compulsory elective course)
 17 86 90 00 DVES 2012 K úvodní studijní plán (compulsory elective course)