Introduction to Economics

The course is not on the list Without time-table

Code	Completion	Credits	Range	Language
B0B16ITE	Z	2	2P+0S	English

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Lecturer:

Tutor:

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Department of Economics, Management and Humanities

Synopsis:

Basic economic terms, market, law of demand, law of supply, market equilibrium, price regulation, price and income elasticities, consumer's behavior, producer's behavior, cost, revenue, profit, market failure, monopoly, government macroeconomic policy, gross domestic product, money, inflation, banking system, monetary policy, labor market, business cycle, fiscal policy, comparative advantage, introduction to finance, basic financial calculations.

Requirements:

Syllabus of lectures:

1. Economic way of thinking. Rational behavior. Opportunity cost and other basic terms.

2. Market. Demand and supply. Price regulation, taxes, subsidies. Elasticities.

3. Consumer's behavior. Marginal values and their importance.

4. Producer's behavior. Cost and revenue. Three basic rules of microeconomics.

5. Producer's behavior. Profit maximization. Perfect competition.

6. Market failure. Pure monopoly, oligopoly, monopolistic competititon.

7. Absolute & Comparative advantage, (International trade).

8. Principles of macroeconomics. Illustration of economic situation - Basic indicators, Diamond.

9. Aggregation, Gross domestic product (GDP) - definition, computation. Expenditures on GDP.

10. Money. Inflation. Banking system. Monetary policy. Fiscal policy.

11. Labor market. Unemployment. Business cycle.

12. Introduction to Finance.

13. Basics of Financial mathematics. Financial calculations.

Syllabus of tutorials:

Study Objective:

Study materials:

1.Fialova H., J. Jandera: Economics (handouts)

2.Frank R.H., B.S. Bernanke: Principles of Economics, McGraw-Hill, 3.Ed. 2005

3.Fialová, H., Fiala, J.: The Concise Dictionary of Economic Terms, A plus, Praha 2008

4.Richard Brealey, Stewart Myers, Alan Marcus: Fundamentals of Corporate Finance, McGraw-Hill/Irwin, 2011

Note:

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No time-table has been prepared for this course

The course is a part of the following study plans: