BA_EC_1 Economics 1

Vysoká škola finanční a správní
zima 2025
Rozsah
2/1/0. 16 hodin KS/semestr. 6 kr. Ukončení: zk.
Garance
Ing. Petr Mach, Ph.D.
Katedra ekonomie a managementu (FES, KEM) – Katedry – Vysoká škola finanční a správní
Kontaktní osoba: Bc. Kateřina Konupková
Předpoklady
There are no prerequisites for this course
Omezení zápisu do předmětu
Předmět je otevřen studentům libovolného oboru.
Cíle předmětu
At the end of the course the students should be able to understand and explain the basic principles of the functioning of the market and the basic principles of decision-making and maximisation of utility and profit.
Výstupy z učení
After taking this course students will be able to understand and explain basic principles of economics and explain the elementary theory of the consumer choice and of the firm including the general equilibrium theory.
Osnova
  • 1. Market. Scarcity. Self Interest. Competition.
  • 2. Ownership. Exchange. Goods. Capital. Externalities.
  • 3. Opportunity Costs. Absolute and Comparative Advantage. Specialisation and Division of Labour.
  • 4. Total and Marginal Utility. Derivation of Individual and Market Demand.
  • 5. Consumer Choice. Budget Constraint. Indifference Curve. Consumer Optimum.
  • 6. Supply and Demand. Income and Substitution Effect. Market Equilibrium. Consumer and Producer Surplus.
  • 7. Income, Tastes and Fashion. Substitutes and Complements. Normal and Inferior Goods.
  • 8. Loans Market. Demand for Labour. Marginal revenue Product of Labour. Bonds and Loans. Yield to Maturity.
  • 9. Cost and Revenue. Profit Maximization.
  • 10. Market Models. Perfect Competition. Monopolist Competition. Monopoly and Oligopoly.
  • 11. Production Function. Firm in the Long Run. Technical Substitution. Isocosts and Isoquants.
  • 12. General Equilibrium Theory. Edgeworth’s Box. Contract Curve.
  • 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
Literatura
    povinná literatura
  • MACH, Petr. Textbook of Elementary Economics. Prague: VŠFS, 2019. ISBN 978-80-7408-193-4. info
    neurčeno
  • Veseth, Michael. Introductory Microeconomics, Elsevier Science & Technology, 1981. ProQuest Ebook Central, https://ebookcentral.proquest.com/lib/vsfscz/detail.action?docID=1876948. (accessible via ProQuest)
Výukové metody
Lectures and seminars in the full-time study; compulsory seminar participation is 75% in the full-time study. Students on the distance learning form of study are supposed to attend two interactive tutorials.
Metody hodnocení
The course is completed with an oral exam. At the exam, the teacher asks about students' answers in the credit tests and about the basic concepts of the course.
There is one midterm online credit test and one final credit test.

The midterm test covers lectures 1-5. It takes 30 minutes. The test will be opened online after the 5th lecture. The test consists of 8 multiple-choice questions. In each question only 1 answer is correct. Students must answer correctly at least 5 questions to pass the credit test. Students are allowed to use the main book when taking the credit test.
At the end of the semester there is the final credit test containing chapters 1-11.The final credit test takes 45 minutes, it contains 11 multiple choice questions. Students need to answer correctly at least 6 questions to pass it.
Students need to pass the credit tests to be able to register for the oral exam in the examination period.

Requirements for ISP students:

The ISP students must take online credizt tests and the oral exam as regular students. The ISP students are advised to buy the main book (https://eshop.vsfs.cz/textbook-of-elementary-economics/) If you are outside the Czech Republic you can order shipping the Textbook of Elementary Economics to your address abroad on this email: eupress@vsfs.cz.
Informace učitele
Ing. Petr Mach, Ph.D. lectures microeconomics and macroeconomics both at the undergraduate and graduate level. He also teaches the course of lobbying and the course Monetary Theory and Policy (in Czech) at the Master's level.
Další komentáře
Předmět je dovoleno ukončit i mimo zkouškové období.
Předmět je zařazen také v obdobích zima 2014, zima 2015, zima 2016, zima 2017, zima 2018, zima 2023, zima 2024.
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