634-3004/02 – Financial Systems (FS)

Gurantor departmentDepartment of Economics and Management in IndustryCredits6
Subject guarantorIng. Martin Mynář, CSc.Subject version guarantorIng. Martin Mynář, CSc.
Study levelundergraduate or graduate
Study languageEnglish
Year of introduction2014/2015Year of cancellation2020/2021
Intended for the facultiesFMTIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
CEC0082 Mgr. Martin Čech, Ph.D.
MYN07 Ing. Martin Mynář, CSc.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 3+2
Part-time Credit and Examination 18+0

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

Project work


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.

Way of continuous check of knowledge in the course of semester


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.


Subject has no prerequisities.


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

Conditions for completion are defined only for particular subject version and form of study

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner