Course: Basic economic principles

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Course title Basic economic principles
Course code KSA/KZEP
Organizational form of instruction Lecture + Seminar
Level of course Bachelor
Year of study not specified
Semester Winter and summer
Number of ECTS credits 4
Language of instruction Czech
Status of course unspecified
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Pospíšil Richard, prof. Ing. Ph.D.
Course content
The course begins with the central economic problem: economics (micro and macro), economy, production factors, economic cycle. Economic behavior, rational behavior, the economic cycle phases, economic growth. Market equilibrium and efficiency: supply, demand, elasticity. Costs and supply: sunk costs, opportunity costs, economic costs and profits, cost function, optimal production volume. Imperfect competition: monopoly, natural monopoly, oligopoly, duopoly. Free resources, free goods and public goods, public choice, externalities - positive and negative. Magic Quadrangle: inflation, unemployment, foreign trade balance. Domestic product: gross and net domestic product, nominal and real domestic product, the aggregate expenditure, savings of GDP. Issuing of money and money market: money exchange, interest rate, balance of money on the market. Currency, exchange rate, currency market. Fiscal and monetary policy: public budgets, state budget, redistribution, taxes, gray economy, budget deficits, government borrowing, central bank objectives and instruments of monetary policy, inflation targeting.

Learning activities and teaching methods
unspecified
Learning outcomes

When finishing the course, students will be able to: - define basic concepts and relations in economics; - understand the basic economic concepts such as supply, demand, market equilibrium, inflation, unemployment, public budget and fiscal and monetary policy of the state and work with them appropriately.
Prerequisites
unspecified

Assessment methods and criteria
unspecified
Contact hours 2h a week. Reading of an scientific text in Czech language for each seminar. The analysis of data from the Czech Statistical Office. The analysis of data from the Czech National Bank The analysis of data from Czech Ministry of Finance The analysis of data from European Central bank Examination preparation, seminar work Work will focus on the current economic problems - the scope of work 5 pages. The corresponding tasks are entered in an EDIS continuously during the semester.
Recommended literature
  • Dohnalová, Z. (2011) Základy ekonomie. Zlín: Univerzita Tomáše Bati ve Zlíně..
  • Hlaváčková, P. Studijní opora v elektronické podobě (dostupná v EDISU):(2010) Základní ekonomické principy. Olomouc: UP..
  • Kubátová, J. (2004). Náhled do ekonomie. ČR, UP Olomouc.
  • Stará, D. (2012) Základy ekonomických teorií. Praha: Česká zemědělská univerzita, Provozně ekonomická fakulta..
  • Šimková, E. (2014) Základy ekonomie a drobného podnikání: systematický přehled základní ekonomické problematiky. Hradec Králové: Gaudeamus..


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester