VSFS:BA_EC_1 Economics 1 - Course Information
BA_EC_1 Economics 1
University of Finance and AdministrationWinter 2016
- Extent and Intensity
- 2/2/0. 6 credit(s). Type of Completion: zk (examination).
- Teacher(s)
- Mgr. Ing. Dominik Stroukal, Ph.D. (lecturer)
doc. Ing. Jan Mertl, Ph.D. (seminar tutor) - Guaranteed by
- Mgr. Ing. Dominik Stroukal, 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 E124, Mon 14:45–15:30 E124, J. Mertl
BA_EC_1/pMCPH: Mon 12:15–12:59 E124, Mon 13:00–13:45 E124, J. Mertl - 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; compulsory seminar participation is 75% in full-time study.
- Assessment methods
- The course ends with credit midterm test and final test. Credit midterm test is written and to pass students need 2 out of 3 questions correct or students can write an essay. Information about the essay are delivered during the first week. Final written/oral exam: max 100 points. The first term of final test is written and other terms oral. Grades: A (90-100), B (80-90), C (70-80), D (60-70), E (50-60) F (below 50).
- Language of instruction
- English
- Follow-Up Courses
- 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 2016, recent)
- Permalink: https://is.vsfs.cz/course/vsfs/winter2016/BA_EC_1