VSFS:B_EK_1 Economy 1 - Course Information

B_EK_1 Economy 1

Extent and Intensity

2/2/0. 6 credit(s). Type of Completion: zk (examination).

Teacher(s)

PhDr. Rafik Bedretdinov, CSc. (seminar tutor)
Ing. Michal Blahout, Ph.D. (seminar tutor)
Ing. Pavel Klička, PhD. (seminar tutor)
Ing. Bc. Jiří Mihola, CSc. (seminar tutor)
Ing. Yuliia Spitsyna (seminar tutor)
doc. Mgr. Ing. Petr Wawrosz, Ph.D. (seminar tutor)

Guaranteed by

doc. Mgr. Ing. Petr Wawrosz, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Lenka Pokorná

Timetable of Seminar Groups

B_EK_1/cAPH: Mon 12:15–12:59 E128, Mon 13:00–13:45 E128, except Mon 19. 11. ; and Mon 19. 11. 12:15–13:45 E122, Y. Spitsyna
B_EK_1/cBSKV: Wed 12:15–12:59 KV308, Wed 13:00–13:45 KV308, M. Blahout
B_EK_1/cBSMO: Thu 12:15–12:59 M15, Thu 13:00–13:45 M15, M. Blahout
B_EK_1/cBSPH: Mon 14:00–14:44 E222, Mon 14:45–15:30 E222, except Mon 29. 10. ; and Mon 29. 10. 14:00–15:30 E129, P. Wawrosz
B_EK_1/cKPH: Tue 15:45–16:29 E024, Tue 16:30–17:15 E024, P. Klička
B_EK_1/cMVMO: Thu 10:30–11:14 M15, Thu 11:15–12:00 M15, M. Blahout
B_EK_1/cM1PH: Mon 10:30–11:14 E224, Mon 11:15–12:00 E224, J. Mihola
B_EK_1/cM2PH: Mon 10:30–11:14 E225, Mon 11:15–12:00 E225, Y. Spitsyna
B_EK_1/cPPPH: Tue 15:45–16:29 E224, Tue 16:30–17:15 E224, R. Bedretdinov
B_EK_1/pAMPH: Mon 8:45–9:29 E007KC, Mon 9:30–10:15 E007KC, except Mon 19. 11. ; and Mon 19. 11. 8:45–10:15 E306, J. Mihola
B_EK_1/pBSKPPPH: Tue 14:00–14:44 E004, Tue 14:45–15:30 E004, except Tue 20. 11. ; and Tue 20. 11. 14:00–15:30 E123, J. Mihola
B_EK_1/pBSKV: Tue 10:30–11:14 KV310, Tue 11:15–12:00 KV310, except Tue 20. 11. ; and Wed 28. 11. 15:45–17:15 KV308, P. Wawrosz
B_EK_1/pBSMVMO: Wed 10:30–11:14 M14, Wed 11:15–12:00 M14, R. Bedretdinov
B_EK_1/vAPH: Sat 13. 10. 9:45–11:15 E225, Sat 27. 10. 9:45–11:15 E227, Sat 10. 11. 14:00–15:30 E129, Fri 23. 11. 15:45–17:15 E224, 17:30–19:00 E224, Fri 7. 12. 14:00–15:30 E224, P. Klička
B_EK_1/vBSKV: Fri 12. 10. 15:45–17:15 KV310, 17:30–19:00 KV310, Fri 26. 10. 15:45–17:15 KV310, 17:30–19:00 KV310, Fri 9. 11. 15:45–17:15 KV310, 17:30–19:00 KV310, P. Klička
B_EK_1/vKPH: Fri 12. 10. 19:15–20:45 E228, Fri 9. 11. 14:00–15:30 E227, Sat 10. 11. 14:00–15:30 E227, Sat 24. 11. 11:30–13:00 E228, 14:00–15:30 E228, Fri 7. 12. 19:15–20:45 E227, M. Blahout
B_EK_1/vMPH: Sat 13. 10. 11:30–13:00 E227, Sat 27. 10. 11:30–13:00 E228, 14:00–15:30 E228, Sat 10. 11. 9:45–11:15 E228, 11:30–13:00 E228, Sat 24. 11. 9:45–11:15 E228, M. Blahout
B_EK_1/vVPH: Sat 13. 10. 9:45–11:15 E129, 11:30–13:00 E129, Fri 9. 11. 17:30–19:00 E126, Fri 23. 11. 17:30–19:00 E126, Sat 15. 12. 9:45–11:15 E126, 11:30–13:00 E126, J. Mihola
B_EK_1/3rocnik: No timetable has been entered into IS.

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 subjects is to introduce students with microeconomic on the bachelor level. The students will be introduced with: - laws and principles of economics (as law of diminishing marginal revenues, law of diminishing marginal product, principle of opportunity costs and principle of sunk costs) - consumers and firms behavior - market equilibrium (compliance of supply and demand) is established - elasticity of supply and demand curve - market structures: perfect competition, imperfect competition (monopolistic competition, oligopoly, monopoly) - productions factor market (including labor market) and capital market including factors affecting the price of productions factors and interest rate - general equilibrium model - microeconomic reason for government (state) interference on the market and with the essence of allocation, redistributive, legislative and regulatory function of state; including the public goods, externalities and other reasons for markwt intervention;

Learning outcomes

Students will be, after finishing the course, able: - to understand basic laws and principles of microeconomics - to explain behavior of conusmers and firms - to know what happens on the goods market, factor market and loanable market - to understand the concept of general equilibrium - to know microeconomic reason for government intervention

Syllabus

• The structure of the lectures: 1. lecture: definition and essence of microeconomics, basic terms, principles and laws of microeconomic. 2. lecture: theory of consumer behavior, individual demand curve. 3. lecture: theory of firm – production function, optimal combinations of production factors, accounting and economic profit, absolute and comparative advantage. 4. lecture: costs and revenues of firm, individual supply curve, break-even point and shutdown point. 5. lecture: market and market equilibrium, market demand curve, market supply curve, the reason of market disequilibrium, consumer surplus, producers surplus, demand elasticity, supply elasticity. 6. lecture: perfect competition, its characteristic and signs, short run and long run firm equilibrium in prefect competition, Pareto efficiency of perfect competition, imperfect competition, its its characteristic and signs, short run and long run firm equilibrium in imperfect competition dead weight loss in imperfect competition. 7. lecture: monopolistic competition and oligopoly, monopoly, kinds and reason of monopoly, the harmful effects of monopoly. 8. lecture: production factor markets – it essence, Clark’s chart, demand and supply on productive factors market, equilibrium and disequilibrium on the production factors market, specifics of labor market.9. lecture: capital market - investment, saving, its essence, decision about investment and saving, 10. lecture: general equilibrium theory – equilibrium in production, production possibility frontier, equilibrium in consumption. 11. lecture: general equilibrium theory -production-consumer equilibrium, the importance of general equilibrium model. 12. lecture: microeconomic role of state (government), allocation function, public goods, positive and negative externalities and other features of allocation function, redistributive, legislative and regulatory function of state.

Literature

required literature
• Heissler, Herbert; Valenčík, Radim; Wawrosz, Petr 2010. Mikroekonomie základní kurz. Praha: VŠFS.

Teaching methods

Lectures and seminars on the present form of the study, consultations on the distant form of the study. Students should attend at least 60 % of the tuitions, otherwise they receive substitute homework.

Assessment methods

The subject is finished by credit and exam. The acquiring of credit is necessary condition for student to be able to take the exam. The student acquires the credit if it fulfils conditions: 1. either it passes two tests on the seminars (present form of the study) or on the consultations (distant form of the study) and it passes two electronic credit tests in basic variant. Each question in the electronic tests are scored, student have to receive minimum score to pass the test. The value of minimum score is mentioned in the test. 2. or it passes two electronic tests in difficult variant. The ekctronic tests in difficult variant differs from electronic tests in basic variant in the level of minimum score needed to pass a test. Electronic tests in difficult varianthave higher score. The exam is verbal. The exam question are published in IS (information system) with minimal exam standards (the minimum knowledge that student must know to be able to pass the exam).

Language of instruction

Czech

Follow-Up Courses

• B_EK_2 Economics 2

Further comments (probably available only in Czech)

The course can also be completed outside the examination period.
Information on the extent and intensity of the course: 12 hodin KS/semestr.

• Enrolment Statistics (Winter 2018, recent)
  
• Permalink: https://is.vsfs.cz/course/vsfs/winter2018/B_EK_1