B_EK_1 Economics 1

University of Finance and Administration
Winter 2026
Extent and Intensity
2/1/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Tomáš Kremr, Ph.D., LL.M. (seminar tutor)
doc. Ing. Lubomír Lízal, Ph.D. (seminar tutor)
Ing. Petr Mach, Ph.D. (seminar tutor)
Ing. Mgr. Jaromír Tichý, Ph.D., MBA (seminar tutor)
doc. Radim Valenčík, CSc. (seminar tutor)
Guaranteed by
Ing. Petr Mach, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Mgr. Petra Dovhunová
Timetable of Seminar Groups
B_EK_1/cEKKV: each even Monday 14:00–14:44 KV301, each even Monday 14:45–15:30 KV301, R. Valenčík
B_EK_1/cEK1PH: each even Monday 17:30–18:14 E227, each even Monday 18:15–19:00 E227, T. Kremr
B_EK_1/cEK2PH: each odd Thursday 15:45–16:29 E228, each odd Thursday 16:30–17:15 E228, T. Kremr
B_EK_1/cFPPPH: each even Monday 15:45–16:29 E227, each even Monday 16:30–17:15 E227, T. Kremr
B_EK_1/cMMO: each odd Thursday 8:45–9:29 M14, each odd Thursday 9:30–10:15 M14, J. Tichý
B_EK_1/cM1PH: each odd Monday 12:15–12:59 E227, each odd Monday 13:00–13:45 E227, R. Valenčík
B_EK_1/cM2PH: each odd Monday 12:15–12:59 E401, each odd Monday 13:00–13:45 E401, J. Tichý
B_EK_1/pEKFMPPPH: Wed 10:30–11:14 E007KC, Wed 11:15–12:00 E007KC, L. Lízal
B_EK_1/pEKKV: each even Monday 10:30–11:14 KV301, each even Monday 11:15–12:00 KV301, each even Monday 12:15–12:59 KV301, each even Monday 13:00–13:45 KV301, R. Valenčík
B_EK_1/pMMO: Thu 10:30–11:14 M14, Thu 11:15–12:00 M14, J. Tichý
B_EK_1/vEKFPH: Sat 24. 10. 14:00–15:30 E228, 15:45–17:15 E228, Sat 7. 11. 9:45–11:15 E228, 11:30–13:00 E228, Sat 21. 11. 9:45–11:15 E228, 11:30–13:00 E228, Fri 11. 12. 17:30–19:00 S11, 19:15–20:45 S11, P. Mach
Prerequisites
There are no prerequisites for this course.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The aim of the course is to teach students basic microeconomic topics including the theory of utility, the concept of demand and supply, the maximization of profit and the working of the factor market.
Learning outcomes
Students will be, after completing the course, able to: - understand basic laws and principles of microeconomics - explain the behavior of the consumer and firm - know what happens in the goods market, factor market, and loanable funds market - calculate interest rates, elasticity of demand and supply and equilibrium of basic microeconomic models
Syllabus
  • The structure of the lectures:
  • 1. What economics is - basic terms
  • 2. Trade and competition
  • 3. Division of labour
  • 4. Utility
  • 5. Consumer choice
  • 6. Demand and supply
  • 7. Market equilibrium
  • 8. Production function
  • 9. Factor markets
  • 10. Profit maximisation
  • 11. Market structures
  • 12. General equilibrium theory
  • Seminars
  • 1. Comparative advantage and the opportunity cost
  • 2. Utility function and indifference analysis
  • 3. Demand function, supply function
  • 4. Market equilibrium calculations
  • 5. Equilibrium of the firm
  • 6. Analysis of monopoly
Literature
    recommended literature
  • MACH, Petr. Textbook of Elementary Economics. Prague: VŠFS, 2019. ISBN 978-80-7408-193-4. info
Teaching methods
Lectures and seminars in the full-time form of the study, consultations on the combined form of the study. Students should attend at least 75 % of the seminars in the full-time study form and 50% in the combined form.
Assessment methods
The subject is completed by passing a credit test and passing the exam.
The student earns the credit by 75% attendance in the seminars, passing the online midterm credit test and online final credit test to which he/she will be invited by email by the course guarantor.
The exam is oral or written. Students will explain concepts contained in the Bachelor's state exam or answer questions similar to those in the credit test.
Language of instruction
Czech
Teacher's information
Petr Mach, PhD teaches microeconomics and macroeconomics , lobbying and Monetary theory and policy.
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
The course is also listed under the following terms Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2018, Winter 2023, Winter 2024, Winter 2025.
  • Enrolment Statistics (recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2026/B_EK_1