545-0203/07 – 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 | 2017/2018 | Year of cancellation | 2019/2020 |
| 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:
Outline of lectures:
1. Model of market with flats: different way of allocations.
2. Consumer behaviour: budget constraint, consumer preferences, indifferent curve, utility, consumer choice.
3. Demand of consumer: normal and inferior goods, change of income, income-consumption curve, Engel curve; change of price, price-consumption curve, demand curve.
4. Price elasticity of demand.
5. Producer behaviour: budget constraint of producer factors of production, returns to scale, costs curves.
6. Supply of company: perfect competition and supply in perfect competition.
7. Monopoly, profit maximization, natural monopoly, source of monopoly, monopoly behaviour, price discrimination, monopolistic competition.
8. Marketing and his historical evolution, fundamental terms, system of marketing.
9. Marketing informations: marketing information system, marketing research.
10.Product life cycle, Product mix, Market segmentation, Product, Levels of product, Classification of products. Consumer`s market, Buyer behavior, Consumer-goods classification, Industrial market, Decision on industrial market, Industrial demand, Industrial-goods classification. Service.
11.Distribution, Distribution channels, Distribution of consumer-goods and industrial goods, Distribution on retail trade and in wholesale.
12.Prices, pricing decision.
13.Marketing communications mix and its major tools – advertising, sales promotion, publicity, personal selling.
14.Market potential. Forecasting in marketing.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction