Macro and Microekonomics

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Macro and Microekonomics (Main course) B1B16MME
Credits 5
Semesters Winter
Completion Assessment + Examination
Language of teaching Czech
Extent of teaching 2P+2S
Annotation
Basic economic terms, market, law of demand, law of supply, market equilibrium, price regulation, price and income elasticities, consumer's behavior, producer's behavior, cost, revenue, profit, market failure, monopoly, government macroeconomic policy, gross domestic product, multipliers, money, inflation, banking system, monetary policy, labor market, business cycle, fiscal policy, foreign trade policy, comparative advantage, CR and EU, Euro.
Course outlines
1. Economics. Basic terms.
2. Market. Demand and supply.
3. Demand and supply. Elasticities.
4. Consumer's behavior.
5. Producer's behavior. Cost and revenue.
6. Producer's behavior. Profit maximization.
7. Market failure. Monopoly, oligopoly, monopolistic competititon.
8. Principles of macroeconomics. Government economic policy. Theoretical concepts.
9. Gross domestic product - definition and computation.
10. Expenditures on gross domestic product.
11. Money. Inflation. Banking system. Monetary policy.
12. Labor market. Unemployment. Business cycle.
13. Fiscal policy. Government budget. Public debt.
14. Foreign trade policy. CR and European Union. Euro.
Exercises outlines
1.Basic economic terms, graphs.
2.Demand, supply, market.
3.Elasticity.
4.Consumer's behavior.
5.Producer's behavior - production function.
6.Producer's behavior - cost.
7.Producer's behavior - revenue, profit in perfect competition, monopolistic profit.
8.International trade - absolute and comparative advantage.
9.Gross domestic product - definition.
10.Expenditures on gross domestic product.
11.Inflation, monetary policy of central bank, labour market.
12.Diamond.
13.Fiscal policy.
14.Reserve seminar.
Literature
1.Fialova H., J. Jandera: Economics (handouts)
2. Frank R.H., B.S. Bernanke: Principles of Economics, McGraw-Hill, 3.Ed. 2005
3.Fialová, H., Fiala, J.: The Concise Dictionary of Economic Terms, A plus, Praha 2008
Requirements
https://moodle.fel.cvut.cz/divize/13116/Katedra_ekonomiky__manazerstvi_a_humanitnich_ved