BA_EC_1 Economics 1

University of Finance and Administration
Winter 2015
Extent and Intensity
2/2. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Mgr. Ing. Dominik Stroukal, Ph.D. (lecturer)
doc. Mgr. Ing. Petr Wawrosz, Ph.D. (seminar tutor)
Guaranteed by
Ing. Petr Mach, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Ing. Barbora Ptáčková
Timetable of Seminar Groups
BA_EC_1/cMCPH: Mon 14:00–14:44 E227, Mon 14:45–15:30 E227, P. Wawrosz
BA_EC_1/pMCPH: Mon 12:15–12:59 E227, Mon 13:00–13:45 E227, D. Stroukal
Prerequisites
There are no prerequisites for this course
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
At the end of the course students should be able to understand and explain the demand and supply and functioning of the market. The course describes the mechanisms of the choice of the consumer among alternative opportunities, and the principles of the maximisation of utility of consumers and firms in the market.
Syllabus
1. Market. Scarcity. Self Interest. Competition. Ownership. Exchange. Goods. Capital. Externalities. 2. Opportunity Costs. Absolute and Comparative Advantage. Specialisation and Division of Labour. 3. Supply and Demand. Income and Substitution Effect. Market Equilibrium. Consumer and Producer Surplus. 4. Income, Tastes and Fashion. Substitutes and Complements. Normal and Inferior Goods. 5. Total and Marginal Utility. Derivation of Individual and market Demand. 6. Firm’s Demand for Labour. Marginal revenue Product of Labour. Loan Market. Bonds and Loans. Yield to Maturity. 7. Consumer Choice. Indifference Curve and Budget Constraint. Indifference Curve for Substitutes and Complements. 8. Firm: Production. Revenues.9. Costs. Profit. Equilibrium MR=MC. 10. Competition.
Literature
    required literature
  • Sobel, R., Gwartney, J., Stroup, R., Macpherson, D.: Understanding Microeconomics 13th Edition. Cengage Learning. ISBN-13: 978-0-538-75619-8
Teaching methods
Lectures and seminars in full-time study
Assessment methods
Grades: A (91-100), B (81-90), C (71-80), D (61-70), E (51-60) F (below 51). Final written exam: max 100 points. Attendance: Voluntary – zero points. Credit requirements: Taking the exam.
Language of instruction
English
Follow-Up Courses
Further Comments
The course can also be completed outside the examination period.
The course is also listed under the following terms Winter 2014, Winter 2016, Winter 2017, Winter 2018, Winter 2023, Winter 2024, Winter 2025.
  • Enrolment Statistics (Winter 2015, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2015/BA_EC_1