English

4

Not applicable.

Of all faculties

Acquired knowledge and practical skills will be applied to modelling dependencies of factors relating to economic phenomena, explaining their relations and solving problems of microeconomic and macroeconomic environment by with simple mathematical methods.

Standard courses of engineering mathematics, microeconomics and macroeconomics on bachelor level.

Not applicable.

Instructing is divided into lectures and exercises. Lectures are focused on the theory referring to applications, exercises on practical calculations and solving of application tasks.

Conditions for awarding course-unit credits:
- active participation in the seminars where the attendance is compulsory,
- fulfilment of individual tasks and successful completion of written assignments,
- completion of a written test in the course of semestr marked at least with
“E”.
Awarding of course-unit is a necessary condition to be admitted to the exam.
The course of the exam:
The exam has the written and the oral part with the written part taking two hours being more important. The written exam is followed by an oral exam which does not take more than 10 minutes. Its main objective is to make the classification more accurate. In the oral exam, the student informed about the results achieved in the individual tasks of the written exam. Possible discrepancies in the written part can be solved in the oral exam. If appropriate, additional questions can be placed, and the student is given time to prepare.The written part contains the following tasks with maximum points awarded in brackets:

1. Decision making task on the type of economic function (10 points).
2. Definition and interpretation of an economic quantity (20 points).
3. Computation task (30 points).
4. Computation task (40 points).
The overall assessment of the written part is given by the sum of points reached from the tasks 1-4 together with the fullfiling of the following conditions (a),(b),(c):
(a) Reaching at least 11 points in the sum of points from tasks 1 and 2
(b) Reaching at least 10 points from task 3
(c) Reaching at least 10 points from task 4
points
A excellent 1 90-100
B very good 1- 80-89
C good 2 70-79
D satisfactory 2- 60-69
E sufficient 3 50-59
7 failed 4 0-49 or not fullfiling at least one of the conditions (a),(b),(c)
The overal assessment of the exam is the result of the overall assessment of the written part and the oral part.The student may reject the overal assessment B,C,D,E. This must be realized immediately before the closing of the assessment by the examiner. In such event. the student is classified as "F" and he may repeat the exam in the next term assuming that he still did not realized three attempts

a) The principles of mathematical modelling in economics. economic models, endogenous and exogenous variables, ceteris paribus conditions, comparative statics
b) Interpretations of basic tools of calculus of functions in economics, marginal economic quantities
c) Demand and supply, equilibrium problems, comparative statics tasks, consumer´s and producer´s surplus
d) Revenue, cost and profit, break-even points, optimization principles, construction of supply
e) Elasticity of demand and supply, decision making using elasticity
f) Production, factors of production, one- and two-factor models of production, isoquants, Cobb-Douglas functions, marginal rate of labour and capital, marginal rate of technical substitution
g) Utility, ordinal model, utility function, utility curves, marginal utility, marginal rate of commodity substitution
h) National income, simplified macroeconomic model, consumption and saving, marginal propensity to consume and to save, I-G, I-G-T and IS-LM models of national economy

Not applicable.

The main aim of this module is to provide students with conceptual knowledge at Masters level necessary to describe the laws of economics using exact (mathematical) tools. The particular objectives of this module are:

To set up the symbiosis between engineering mathematics and economics

To develop competencies and skills to model economic relationships taking into account aspect of simplifications and the normal economic conditions

To deepen understanding of the causality of economic relationships

To equip the students with the ability to solve economic tasks set by concrete data

To provide students with the theoretical means that are necessary to perform qualified decision-making

Attendance at lectures is not controlled. Attendance at exercises (seminars) is compulsory and is regularly checked. A student is obliged to give reasons for his/her absence. If the teacher accepts the reason for the absence (which is completely under his/her competence), he/she will decide about the form of the compensation for the missed lessons.

Not applicable.

Not applicable.

Allen, R. G. D. (1968), Mathematical Analysis for Economists, St. Martin´s Press, New York
Dilwyn, E., Hamson, M. (1989), Guide to Mathematical Modelling, MacMillan Press Ltd., London
Henderson, R. H., Quandt, R. E. (1980), Microeconomic Theory: A Mathematical Approach, McGraw-Hill, New York
Chiang, A. C. (1984), Fundamental Methods of Mathematical Economics, McGraw-Hill, New York
Jacques, I. (1995), Mathematics for Economics and Business, Addison-Wesley, New York
Koch, J. U., Ostrosky, L. A. (1979), Introduction to Mathematical Economics, Houghton Mifflin Comp., Boston
Mezník, I. (to appear 2016), Introduction to Mathematical Economics for Economists
Nicholson, W., (2000). Intermediate Microeconomics and its Applications, The Dryden Press, Orlando
Wisniewski, M. (1991), Introductory Mathematical Methods in Economics, McGraw-Hill, London

Not applicable.

13 hours, compulsory