545-0203/02 – Principles of Market Economy (ZTE)
Gurantor department | Department of Economics and Control Systems | Credits | 5 |
Subject guarantor | prof. Ing. Jaroslav Dvořáček, CSc. | Subject version guarantor | prof. Ing. Jaroslav Dvořáček, CSc. |
Study level | undergraduate or graduate | Requirement | Compulsory |
Year | 1 | Semester | winter |
| | Study language | Czech |
Year of introduction | 1999/2000 | Year of cancellation | 2014/2015 |
Intended for the faculties | HGF | Intended for study types | Bachelor |
Subject aims expressed by acquired skills and competences
Student shows knowledge:
of the essential elements of the functioning of the market mechanism,
of fundamental economic objectives of the State,
of basic aggregate indicators measuring the performance of the economy.
Student can:
analyze the ways of the behavior of individual economic operators in a market economy,
link knowledge of the general economic theory with the terms of the real economy,
Student is able to:
explain the causes of market failures and argue the practical economic policy,
describe and explain the cycle of economic life in the market economy.
Teaching methods
Lectures
Individual consultations
Tutorials
Other activities
Summary
Students will be familiar with market mechanism basic concepts - market rules, market price, market competition, problems of economics process - productions and factors of production, dividing and redistributing, exchange, consumption. There is also described questions of macroeconomics aggregates - GDP, GNP, developing of business cycle, growth performance, prices and inflation, etc. Conclusion of this subject is about national economic politics and their instruments.
Compulsory literature:
Recommended literature:
Way of continuous check of knowledge in the course of semester
Regular feedback on the progress of knowledge during the current term is provided by seminar works, semester projects, and knowledge checks.
E-learning
Other requirements
Regular feedback on the progress of knowledge during the current term is provided by seminar works, semester projects, and knowledge checks.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. The importance of economics, microeconomics and macroeconomics, input and output, economic
Systems
2. Market and its importance, the market mechanism, market participants
3. Market competition - the perfect and imperfect competition, imperfect forms
competition - monopolistic competition, oligopoly, monopoly
4. Demand, factors affecting the size of demand, elasticity of demand
5. Offer, factors affecting the size of the supply elasticity of supply
6. Market price, the equilibrium price
7. Labor market, labor costs
8. Inflation - a form indicator inflation, currency stabilization tool
9. Unemployment - the Phillips curve, voluntary and involuntary
unemployment indicator unemployment
10.Money market, international money market, capital market, cost of capital
11.Land market, land price
12.Measurement macroeconomic aggregates - GDP, GDP, nominal and real GDP,
expenditure and income method of measurement, other national economic units
13.Economic growth and its measurement
14.Aggregate demand and aggregate supply
15.Economic cycle and its phases, cyclical factors affecting the development of the economy
16.Economic policy of the country and its goals - monetary and fiscal policy
17.International trade and trade policy, balance of payments
18.Effectiveness economic policies - magic quadrangle
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction