114-2011/02 – Economics I (EKO I.)

Gurantor departmentDepartment of EconomicsCredits4
Subject guarantorIng. Ivana Jánošíková, Ph.D.Subject version guarantorIng. Ivana Jánošíková, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year2Semesterwinter
Study languageCzech
Year of introduction2014/2015Year of cancellation
Intended for the facultiesFMTIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
JAN27 Ing. Hana Janáčková, Ph.D.
JAN77 Ing. Ivana Jánošíková, Ph.D.
LOK02 Ing. Aleš Lokaj, Ph.D.
SPA60 Ing. Lenka Spáčilová, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Part-time Examination 12+0

Subject aims expressed by acquired skills and competences

The aim of the course: students are able - to describe the basic economic cathegories, - think in independent and creative way about economic problems, - explain the behaviour of consumers, households, firms and government on the product markets and on the labour market and capital market - understand mutual relationships among macroeconomic variables. - explain economic policy practised by governments and central banks.

Teaching methods

Lectures

Summary

The aim of the subject is to make the basis for students’ independent creative economic thinking. The main emphasis is laid on the behaviour of consumers, households, firms and government and on the understanding of mutual relationships among macroeconomic variables. Attention is also paid to the labour market and capital market. Also economic policy practised by governments and central banks has a very important role in the course.

Compulsory literature:

Mankiw, G.: Principles of Economics. 5th edition. Mason, USA. South Western Cengage Learning, 2008

Recommended literature:

Paul A. Samuelson, William D. Nordhaus: Economics. 19th ed. - New York: McGraw-Hill/Irwin, 2009.

Way of continuous check of knowledge in the course of semester

Předmět je ukončen písemnou zkouškou. Celkem pro uzavření předmětu je potřeba získat aspoň 51 bodů z celkových 100 bodů.

E-learning

Další požadavky na studenta

Written exam - minimum 51 points, maximum 100 points.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Market and market mechanism. 2. Introduction into economics. Two contemporary macroeconomic approaches. Measuring aggregate economic activity and price level. 3. Determinantion of output in AS-AD model. 4. Money, its supply and multiplication process. Impact of central bank and commercial banks on the money supply. Money demand and its determination. Monetary policy theory. 5. Fiscal policy theory. Government budget deficit and debt. 6. Inflation and unemployment – their causes and effects. Relationship between inflation and unemployment. 7. Business cycle and macroeconomic fluctuations. Economic growth. 8. Balance of payments and exchange rate economics. Exchange rate policy and central bank interventions on the currency market. Monetary integration in Europe. 9. Theory of comparative and absolute advantages in international trade. Economic consequences of globalization in the world economy. 10. Introduction into microeconomics. Economic assumptions and context. Production factors, their scarcity, production possibility frontier, opportunity costs. 11. Demand theory. Cardinalist and ordinalist approach to consumer behaviour analysis. 12. Supply theory. Production function of the firm. The firm and its costs. Economic results of the firm (returns, profit, loss). 13. Firm behaviour in perfect competition and imperfect competition conditions. Economic sense of antitrust policy and regulation. 14. Labour market analysis and theory of human capital. Capital market analysis. Theory of capital investment. 15. Economic characteristics of public goods, of their production and consumption. 16. Market failure – economic inefficiency of externalities and ways of their internalization. 17. Distribution of income. Measurement of inequalities. Alternative approaches to economic equality and inequality problem.

Conditions for subject completion

Part-time form (validity from: 2014/2015 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Examination Examination 100  51
Mandatory attendence parzicipation: not specified

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan
2019/2020 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan
2018/2019 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan
2017/2018 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan
2016/2017 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan
2015/2016 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan
2014/2015 (B3922) Economics and Management of Industrial Systems (6208R123) Economics and Management in Industry K Czech Ostrava 2 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner