151-0351/04 – Analysis of Economic Information (AEI)

Gurantor departmentDepartment of Mathematical Methods in EconomicsCredits4
Subject guarantordoc. Ing. Václav Friedrich, Ph.D.Subject version guarantordoc. Ing. Václav Friedrich, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory type B
Study languageCzech
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
FRI02 doc. Ing. Václav Friedrich, Ph.D.
HRU61 RNDr. Jana Hrubá, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Graded credit 1+2

Subject aims expressed by acquired skills and competences

The main aim of the course "Analysis of Economic Information" is to introduce students into the basic methods of creation, identification and analysis of economic statistical indicators and their interconnection. The course is based on two important types of statistical indicators, which are indexes and time series. Upon successful completion of this course, students will acquire the following knowledge, skills and abilities: • They will learn the methodology of economic indicators used in the state statistics of the Czech Republic and in international statistics. • They will be able to express the temporal and spatial changes of economic indicators in the form of indexes and analyse them in Microsoft Excel. • They will practice the basic methods of designing and developing forecasting scenarios. • They will also get acquainted with basic types of economic time series and selected methods of their analysis in IBM SPSS Statistics.

Teaching methods

Individual consultations
Project work


In economic analyses, we often encounter the need to evaluate and compare economic phenomena using appropriate indicators. These tools are provided by the area of statistics, called economic and social statistics. The course "Economic Information Analysis" introduces students to basic methods of economic information analysis using two economic statistics tools: indexes and time series. Students will also get acquainted with the current Czech system of economic and social statistics indicators and its links to the harmonized system within the EU. Microsoft Excel and IBM SPSS Statistics software tools are used in this course. Individual topics are trained on particular practical examples and tasks.

Compulsory literature:

GIOVANNINI, E. (2008). Understanding Economic Statistics: An OECD Perspective. Paris: OECD Publications. 195 pp. ISBN 978-92-64-03312-2. Available from: https://www.oecd.org/std/41746710.pdf JEFF, R. et all. (2015). A Practical Introduction to Index Numbers. John Wiley & Sons, Ltd. ISBN 978-1-1189-777-8. Available from (for VSB-TUO staff and students): https://onlinelibrary.wiley.com/doi/book/10.1002/9781118977781 TYRRELL S. (2009). SPSS: Stats Practically Short and Simple. London: Bookboon. 87 pp. ISBN 978-87-7681-474-8. Available from: https://bookboon.com/cs/stats-practically-short-and-simple-ebook

Recommended literature:

MAIER M. and j. IMAZEKI. (2014). The Data Game: Controversies in Social Science Statistics. 4th Edition. New York: Routledge. 327 pp. ISBN 978-07-65-62980-7. GRIFFIS Michael. (2011). Economic Indicators For Dummies. Hoboken: John Wiley & Sons. 408 pp. ISBN 978-1-118-0376-21. WAGNER W. E. (2016). Using IBM SPSS Statistics for Research Methods and Social Science Statistics. 6th Edition. Los Angeles: SAGE Publications. 168 pp. ISBN 978-1-506-3317-20.

Way of continuous check of knowledge in the course of semester

The course is concluded with a classified credit. During the semester, students perform the credit tasks: - Introductory test on the basics of statistics - The creation of forecast with several future development scenarios. - Individual project consultation - Processing and submission of the research project All credit assignments have compulsory deadlines.


The education is supported by e-learning course in LMS Moodle. The e-course includes study materials and supporting materials for lectures and exercises. Using LMS Moodle, students complete credit assignments, submit projects and sign up for individual consultations.

Další požadavky na studenta

- Knowledge of statistics within the scope of the bachelor courses at the faculty of economics (course Statistics A) - Basics of work with computer in Windows environment and Microsoft Office programs (especially MS Excel)


Subject codeAbbreviationTitleRequirement
151-0303 Stat A Statistics A Recommended


Subject has no co-requisities.

Subject syllabus:

LECTURES: 1. Subject and instruments of economic and social statistics. 2. Individual and aggregate indices. 3. Price and volume indices, spatial comparison. 4. Forecasting, future development scenarios. 5. Time series and their decomposition. 6. Time series modelling methods. 7. EXERCISES: 1. System of economic and social statistical indicators of the Czech Republic. 2. Data processing from public databases of the CZSO and MF CR. 3. Individual simple and compound indices. 4. Summary indices, analysis of heterogeneous data. 5. Price and volume indices in economic practice. 6. Spatial comparison indices. 7. Selected subjective methods of forecasting. 8. Future development scenarios, scenario creation. 9. Time series and their basic properties. 10. Basic methods of time series trend modelling. 11. Exponential time series balancing. 12. Boxing-Jenkins methodology (ARIMA). 13. – 14.

Conditions for subject completion

Full-time form (validity from: 2019/2020 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Graded credit Graded credit 100  51
Mandatory attendence parzicipation: Lectures are optional but recommended. Exercises are mandatory. The tolerated absence is a maximum of 2 exercises per semester. All credit assignments are compulsory and have binding deadlines. The individual tasks follow each other. In the last two weeks of the semester, individual students’ teams have been consulted on research projects. Participation in consultations is mandatory for all team members.

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2019/2020 (B0311A050004) Applied Economics (S01) International Economic Relations P Czech Ostrava 2 Choice-compulsory type B study plan
2019/2020 (B0312A050001) Public Economics and Administration P Czech Ostrava 3 Choice-compulsory type B study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner