634-3004/01 – Financial Systems (FS)
| Gurantor department | Department of Economics and Management in Industry | Credits | 6 |
| Subject guarantor | Ing. Martin Mynář, CSc. | Subject version guarantor | Ing. Martin Mynář, CSc. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 1 | Semester | summer |
| | Study language | Czech |
| Year of introduction | 2014/2015 | Year of cancellation | 2020/2021 |
| Intended for the faculties | FMT | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
After studying this chapter you will be able to define what the financial markets are, explain how financial markets operate, determine the basic division of financial markets.
After reading this paragraph you will be able to explain and describe the functioning of the Stock Market.
After studying this paragraph you will be able to explain and describe various basic tax concepts.
After reading this paragraph you will be able to describe the financial derivatives we know and how we divide them.
After studying this paragraph you will be able to explain and describe the basic function of public finance and of commercial insurance.
Teaching methods
Lectures
Tutorials
Project work
Summary
The aim of the course is to introduce the basic concepts of the capital market, tax issues in the CZECH REPUBLIC, financial derivatives and commercial insurance. After studying the module, a student should be able to identify the main principles and capital markets division, to define the function of direct and indirect taxes, to define the concepts of derivatives and describe the differences in commercial insurance.
Compulsory literature:
[1] BROWN, C. V. Jackson. PM Public Sector Economics, 4th Edition. Oxford University and Cambridge, USA. 1994th.
[2] MYNÁŘ, M. Financial Systems, Investment in Education Development, Studijní opora v rámci projektu „Rozvoj jazykových kompetencí pracovníků VŠB-TU Ostrava: InterDV“, Klíčová aktivita KA 03, 2014.5]
Recommended literature:
[1] Bellalah, M.: Derivatives, risk management and value. World Scientific. Singapur. 2010th.
[2] Exotic options. Ed. A. Lipton. Risk Books, London 2003th.
Additional study materials
Way of continuous check of knowledge in the course of semester
E-learning
Integrovaný systém modulární počítačové podpory výuky ekonomicko-technického zaměření (http://lms.vsb.cz):
- Vzdělávací modul 6 – Finančně-ekonomická analýza a rozhodování: submodul Využití změny cen vybraných surovin na komoditních trzích v rámci operativního řízení hutního podniku, submodul Analýza variant financování vozového parku ve vybraném hutním podniku včetně sestavení cash flow jednotlivých variant.
- MYNÁŘ, M. Finanční systémy. Studijní opory. Ostrava: VŠB-TU Ostrava, 2012.
Other requirements
PS: Elaborating term project and completing written tests.
KS: Elaborating term project and completion of the final test.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Financial Markets. Division of Financial Markets. Financial markets, their role and fiction.
2. The Stock Exchange and Stock Exchange Shops. History of the Stock Exchange. Stock Exchange - peak capital market institutions. Types of stock exchanges. Features of Stock Exchange.
3. Prague Stock Exchange, Joint Stock Company. Czech Stock RM -System, Inc. Characteristics of Foreign Securities. Summary of basic concepts. Dissemination of exchange information.
4. Financial Derivates. The distribution of derivative financial instruments. Classification of financial derivatives according to the underlying asset.
5. Division of financial derivatives according to instruments type (by sort). The importance of financial derivatives.
6. Taxes and Their Role in Economic System. Tax Functions. Division of taxes.
7. Tax Systems in the CZECH REPUBLIC. Direct Taxes. Indirect taxes.
8. Direct Taxes. Income taxes. Property taxes.
9. Physical person income tax. Legal entity income tax. Property taxes. Real estate tax. Road tax. Inheritance Tax. Gift Tax. Real estate transfer tax.
10. Indirect taxes. Taxes on consumption. Value Added Tax (VAT).
11. Consumer tax. Value Added Tax (VAT).
12. Public Administration and Budgets. Public administration. Public Finances. Public budgets. State budget.
13. Insurance System. Commercial insurance. Social insurance. Health Insurance.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction