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CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2022/2023

Economics

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Code Completion Credits Range Language
F7PMSEK Z,ZK 5 2P+2S Czech
Lecturer:
Petra Hospodková, Alexandr Soukup (guarantor), Martina Caithamlová, Lucie Severová
Tutor:
Petra Hospodková, Alexandr Soukup (guarantor), Martina Caithamlová, Lucie Severová
Supervisor:
Department of Biomedical Technology
Synopsis:

The course introduces the main rules and notions of microeconomics, the market theory, market environment, market balance, demand and supply. Furthermore, the course covers the topic of demand and supply elasticity - graphiical and mathematical expression of elasticity, consumer´s behavious, his optimum. The lecture continues with the theory of the firm, including costs and production, profit maximization, etc. The end of the microeconomics part introduces the theory of perfect/imperfect competition (monopoly, oligopoly, monopolistic competition).

As concerns macroeconomics, the course deals above all with the gross domestic product, its creation, distribution, and practical utilization. Moreover, the course contains the theory of money market, monetary policy, its tools and goals. Inflation, its nature, forms, causes and effects. Unemployment. The following part of the course deals with the fiscal policy, national budget, Maastricht criteria. The course is finished with international trade, balance of payments, exchange rates.

Requirements:

The course is closed with an assessment and an exam.

The assessment is conditioned by attendance the seminars (max. 2 absences).

During the semester, there are two assessment tests – one in Microeconomics and the other in Macroeconomics – the required result is at least 50% in each test independently (each test max. 25 points, sucsess rate at least.12,5 points in each test).

Exam is oral (max. 50 points).

Grading according to the ECTS scale.

Syllabus of lectures:

•Introduction into economics – basic economic notions (origin of economics as a science, brief development of economic thinking. Economic system and its elements

•Theory of consumer´s behaviour, total utility, marginal utility, demand and demand curve.

•Theory of producer´s behaviour, cost function, production function, optimum production output, market subjects, supply.

•perfect competition, basic characterization of a perfectly competitive environment, balance in the perfectly competitive market.

•Imperfect competition and its forms (monopoly, oligopoly, monopolistic competition), market failure.

•Economic process and its stages, production factors and their prices.

•Introduction into macroeconomics: Economic policy. Gross domestic product. Macroeconomic expenditure models.

•Money market and monetary policy.

•Aggregated demand and supply. Model AD - AS. Business cycles.

•Fiscal policy. Public budgets.

•Job market, unemployment and its effects. Employment policy and its tools.

•Inflation, its measurement, causes and effects. Phillips curve. Inflation expenses.

•Balance of paymenrts. International trade and global economy.

Syllabus of tutorials:

•Introduction into economics – basic economic notions (origin of economics as a science, brief development of economic thinking. Economic system and its elements

•Theory of consumer´s behaviour, total utility, marginal utility, demand and demand curve.

•Theory of producer´s behaviour, cost function, production function, optimum production output, market subjects, supply.

•perfect competition, basic characterization of a perfectly competitive environment, balance in the perfectly competitive market.

•Imperfect competition and its forms (monopoly, oligopoly, monopolistic competition), market failure.

•Economic process and its stages, production factors and their prices.

•Introduction into macroeconomics: Economic policy. Gross domestic product. Macroeconomic expenditure models.

•Money market and monetary policy.

•Aggregated demand and supply. Model AD - AS. Business cycles.

•Fiscal policy. Public budgets.

•Job market, unemployment and its effects. Employment policy and its tools.

•Inflation, its measurement, causes and effects. Phillips curve. Inflation expenses.

•Balance of paymenrts. International trade and global economy.

Study Objective:
Study materials:

Required:

[1].ROBERT S. PINDYCK a DANIEL L. RUBINFELD. Microeconomics. 6. ed., internat. ed. Upper Saddle River, NJ: Pearson, 2005. ISBN 9780131912076.

[2].BARRO, Robert J. Macroeconomics. 5th ed. Cambridge, Mass.: MIT Press, c1997. ISBN 9780262024365.

[3].VARIAN, Hal R. Intermediate microeconomics: a modern approach. 7th ed. New York: W.W. Norton & Co., c2006. ISBN 9780393927023.

Recommended:

wikipedia

Note:
Time-table for winter semester 2022/2023:
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
roomKL:B-330
Soukup A.
Severová L.

08:00–09:50
(lecture parallel1)
Kladno FBMI
Učebna
roomKL:B-330
Caithamlová M.
Hospodková P.

08:00–09:50
(lecture parallel2)
Kladno FBMI
Učebna
Tue
Wed
Thu
roomKL:B-720
Hospodková P.
Caithamlová M.

10:00–11:50
(lecture parallel1
parallel nr.1)

Kladno FBMI
Učebna
roomKL:B-720
Hospodková P.
Caithamlová M.

12:00–13:50
(lecture parallel1
parallel nr.2)

Kladno FBMI
Učebna
Fri
Time-table for summer semester 2022/2023:
Time-table is not available yet
The course is a part of the following study plans:
Data valid to 2022-10-07
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