545-0158/02 – Forecasting in raw materials industry (PSP)

Gurantor departmentDepartment of Economics and Control SystemsCredits4
Subject guarantorprof. Ing. Jaroslav Dvořáček, CSc.Subject version guarantorprof. Ing. Jaroslav Dvořáček, CSc.
Study levelundergraduate or graduateRequirementCompulsory
Study languageCzech
Year of introduction2020/2021Year of cancellation
Intended for the facultiesHGFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
DVO30 prof. Ing. Jaroslav Dvořáček, CSc.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+1
Part-time Credit and Examination 8+4

Subject aims expressed by acquired skills and competences

Selection of prognostic techniques and their application in the field of managerial and planning activities. Knowledge of basic prognostic methods and their use on company level. Skill concerning analysis of economic indicators development.

Teaching methods



The subject familiarizes with role and significance of forecasting in decision making process and managerial process. There are presented basic terms of forecasting activity and basic groups of prognostic methods. There are mentioned the most renowned global forecasts. Prognostic techniques are applied in raw materials industry, namely for most important so called critical raw materials.

Compulsory literature:

ELLIOTT, Graham, Clive William John GRANGER a Allan TIMMERMANN, ed. Handbook of economic forecasting. Volume 1. Amsterdam: Elsevier/North-Holland, 2006. RUNGE I. C. Mining economics and strategy. Society for Mining, Metallurgy and Exploration, Inc. Littleton, 1998. CLEMENTS M. P.,HENDRY D. F.(ed.): A Companion to Economic Forecasting. 2004. Wiley Online Library.

Recommended literature:

EVANS, Michael K. Practical business forecasting [online]. Hoboken: John Wiley & Sons, 2008 [cit. 2017-11-14]. ISBN 978-0-470-75562-4.

Way of continuous check of knowledge in the course of semester

Working out of assigned examples in the field of forecasting.


Learning management system Moodle (lms.vsb.cz).

Další požadavky na studenta

Working out of assigned computing programmes.


Subject has no prerequisities.


Subject has no co-requisities.

Subject syllabus:

1. Task of forecasting activity. 2. Forecasting and decision making process. 3. Forecast as starting point of strategic decisions, specification in the field of raw materials. 4. Forecasts classification. 5. Methods of forecasting based on analogy. 6. Methods of forecasting based on information of experts. 7. Methods of forecasting based on prolongation. 8. Methods of forecasting based on system approach. 9. Global forecasts in the field of raw material sources. 10. Prediction of production, consumption and price development of selected raw materials.

Conditions for subject completion

Full-time form (validity from: 2020/2021 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Credit and Examination Credit and Examination 100 (100) 51
        Credit Credit 30  17
        Examination Examination 70  34
Mandatory attendence parzicipation: 80% attendance

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (B2735XXX0001) Mineral Economics EMS K Czech Most 3 Compulsory study plan
2020/2021 (B2735XXX0001) Mineral Economics EMS K Czech Ostrava 3 Compulsory study plan
2020/2021 (B2735XXX0001) Mineral Economics EMS P Czech Ostrava 3 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner