545-0203/06 – Principles of Market Economy (ZTE)

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 introduction2017/2018Year of cancellation2017/2018
Intended for the facultiesHGFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
CER25 Ing. Igor Černý, Ph.D.
DVO30 prof. Ing. Jaroslav Dvořáček, CSc.
TOM60 Ing. Yveta Tomášková, Ph.D.
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 6+3

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

Individual consultations
Other activities


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:

[1]SAMUELSON, P.A.; NORDHAUS, W. D. Ekonomie. 1.vyd. Praha : NS Svoboda, 2010. 775 s. ISBN 978-80-205-0590-3. [2]HOŘEJŠÍ, B. Mikroekonomie. 5. aktualiz. vyd. Praha : Management Press, 2010. 574 s. ISBN 978-80-7261-218-5.

Recommended literature:

[1]MANSOOR, M. Makroekonomie v praxi. 1. vyd. Praha : Wolters Kluwer ČR, 2010. 195 s. ISBN 978-80-7357-560-1.

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.


Other requirements

There are no additional requirements for students.


Subject has no prerequisities.


Subject has no co-requisities.

Subject syllabus:

Outline of lectures: 1) Establishment and development of economic theory. 2) Basic economic concepts. 3) Market mechanism and its categories. 4) Economic entity. Market competition. 5) Supply, demand, equilibrium price. 6) Market failure. Economic functions of the state. 7) The Labour Market. 8) Inflation and unemployment. 9) Land Market. 10) Capital market, money market. 11) Basic macroeconomic aggregates. 12) Economic growth. Economic cycle. 13) Economic crisis. 14) The economic policy of the state. Outline of exercises: 1) The law of scarcity. Production possibilities frontier. The law of diminishing returns. 2) The elasticity of supply, demand elasticity. 3) Antitrust law, discussions about current violations of competition. 4) Unemployment and the Lorenz curve. 5) External trade and monetary policy, exchange rates. 6) Credits.

Conditions for subject completion

Full-time form (validity from: 2017/2018 Winter semester, validity until: 2017/2018 Summer 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 33  17
        Examination Examination 67  34
Mandatory attendence parzicipation: semestral project

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2017/2018 (B2102) Mineral Raw Materials (2102R001) Economics and Management in the Field of Raw Materials P Czech Ostrava 1 Compulsory study plan
2017/2018 (B2102) Mineral Raw Materials (2102R001) Economics and Management in the Field of Raw Materials K Czech Ostrava 1 Compulsory study plan
2017/2018 (B2102) Mineral Raw Materials (2102R001) Economics and Management in the Field of Raw Materials K Czech Most 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner