1. Introduction to the subject, managerial economics as a theoretical science, scientific methods used in the subject, historical development of the approach to managerial economics, and comparison of European and Anglo-Saxon concepts of managerial economics.

2. Formation of business economic models, comparison of deterministic and stochastic approaches, game theory, principles of the Schmalenbach and Nicklisch model of the firm, comparison with the neoclassical approach, barriers to practical application.

3. Form of business as a decision problem, theoretical aspects for optimal size of business, the concept of transaction costs, the concept of transaction cost optimization by Coase and Williamson, model of business formation under Bay.

4. Economic problems of mergers, quantification of input factors of the enterprise model, comparison between qualitative and quantitative merger models, economic efficiency of cooperation, concentration, reasons for cartel formation, reasons for tacit collusion and its effects on the objectives of the enterprise.

5. Objectives and Enterprise Development - Criteria for setting goals, Methods of resolving conflicts between objectives, Methods, and forecasting tools, Concept of export and ex-ante models, Building a model on fundamental enterprise indicators.

6. Objectives and business development - Business life cycle, estimation of the development of the life of the enterprise based on market prediction, the effect of innovation factors and their economic quantification, and reasons for innovation in terms of the impact of market structures.

7. Non-standard models of investment planning and decision making - correction method, sensitivity analysis, use of sensitivity analysis limits for optimal time of use, use of simulation principles for NPV model

8. Dean model, simultaneous investment planning, use of decision trees, theoretical aspects and disadvantages of using Monte Carlo method, practical use of Monte Carlo simulation.

9. Risk in decision making, theoretical model of decision making under risk, concept of removing subjectivity, use of statistical tools.

10. Expected value as a starting tool for risk assessment, defining a "suitable" bet and insurance, certainty equivalent, using decision trees to describe more complex decision models under risk.

11. Fixed asset management, Renewal and replacement models, the classical concept of the "bathtub curve," approaches to individual and group Renewal of units and Renewal of repairable and non-repairable units. 

12. Energy management models, economic reasons for the use of RES, the concept of RES investments in terms of classical and non-traditional evaluation models, Energy management.

13.  A comprehensive concept of decision-making models, a combination of stochastic and deterministic procedures, application of multi-criteria decision-making and Monte Carlo simulations to investment, pricing, and corporate strategy issues.

Exercise 1 - Organisation of teaching. Requirements for credit. Initial test of knowledge of the subject
Exercise 2 - Enterprise development processes, life cycle forecasts, forecasting models.
Exercise 3 - Economic models of the enterprise. Selection of initial models, mathematical al model design, approaches to solve union, translation of solution into economic reality—half-semester test.
Exercise 4 - Investment projects. Stochastic methods, uncertainty prediction, sensitivity analysis for investment projects.
Exercise 5 - Simulations in investment planning, distribution choices in Monte Carlo simulations, and Monte Carlo applications in MS Excel.
Exercise 6 - Dynamic models for unit renewal and replacement, equipment reliability, and comparison of energy management efficiencies between spot forward markets.
Exercise 7 - Semester test.

Learning outcomes:

The student will gain an overview of the practical use of general management procedures to solve decision-making tasks in the most frequently solved management problems. The emphasis is placed on connecting individual methods and their effective combination.

Professional competencies:

The student can define the correct theoretical solution procedures for a specific practical problem, use them in reality, and ultimately decide on their implementation or rejection. They are aware of the particular limitations of these methods and can eliminate them.

Professional skills:

Professional skills are the ability to solve management tasks of various types; another skill is the ability to combine different approaches and methods to the solution, which ensures a comprehensive concept from the point of view of possible solution options.