545-0203/04 – Principles of Market Economy (ZTE)
Gurantor department | Department of Economics and Control Systems | Credits | 4 |
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 | 2006/2007 | Year of cancellation | 2013/2014 |
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
There are no additional requirements for students.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. The importance of Economics, microeconomics and macroeconomics, inputy and outputy, economic
systems
2. Market and its importance, the market mechanism, market operators
3. The market competition--the perfect and imperfect competition, the forms of the imperfect
competition-monopoly competition, oligopoly, monopoly
4. The demand - individual, market, aggregate, factors affecting the size of the demand, the elasticity of demand
5. The supply - individual, market, aggregate, factors affecting the size of the supply, the elasticity of supply
6. The market price, equilibrium price
7. The labour market, the price of the work
8. Inflation-forms, an indicator of the inflation rate, stabilizing the currency tools
9. Unemployment – Tony Phillips curve, voluntary and involuntary
unemployment, the unemployment rate indicator
10.Money Market, international money market, capital market, the price of capital
11.The land Market, the price of land
12.Measurement of macro-economic aggregates — GNP, GDP, nominal and real GDP,
other macroeconomic aggregates
13.Economic growth and its measurement
14.The economic cycle and its phase, factors affecting the development of circular economy
15.The economic crisis-its causes and consequences
16.The economic policies of the State and its objectives-monetary and fiscal policy
17.Problems of public finances - budget deficit and public debt
18.The international trade and trade policy, balance of payments
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction