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CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2020/2021

Fundamentals of Economics

The course is not on the list Without time-table
Code Completion Credits Range Language
2381002 Z,ZK 5 2P+2C Czech
Lecturer:
Tutor:
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: 978-80-87506-10-3.

PAVELKA, T. Makroekonomie. Základní kurz. 3. vyd. Praha: Vysoká škola ekonomie a managementu, 2010. 273 s. ISBN 978-80-86730-55-4..

Note:
Further information:
No time-table has been prepared for this course
The course is a part of the following study plans:
Data valid to 2020-11-26
For updated information see http://bilakniha.cvut.cz/en/predmet1755406.html