Course detail

Economics

FP-ekoPAcad. year: 2026/2027

The course focuses on basic economic relations and contexts, concepts and the necessary theoretical foundations required for the analysis of current issues in contemporary economics.

In the first part of the course, the student will acquire the basic theoretical knowledge to understand the mechanism of the functioning of the economy at the aggregate level. Emphasis is placed on understanding the most important factors affecting the macroeconomic environment in the short and long run and their interrelationships. The content of the course covers issues of measuring economic performance, economic growth, the business cycle, the role of money in the economic system, the causes and consequences of inflation, the labour market and the role of government economic policy. The knowledge acquired will support the student in economic decision-making from the perspective of households, firms and the state.

In its second part, the course focuses on microeconomic relationships and connections, concepts and theoretical foundations necessary for microeconomic analysis of problems to develop a comprehensive view leading to rational decision-making by a microeconomic agent in a market environment. The content focuses in particular on consumer and firm behaviour in an environment of perfect and imperfect competition. The issues of production factors and production functions are also discussed. The teaching also includes the area of state intervention from a microeconomic point of view.

Language of instruction

Czech

Number of ECTS credits

7

Assignment to study programme types

Bachelor's

Mode of study

Not applicable.

Guarantor

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Department

Institute of Economics (ÚE)

Entry knowledge

General economic and mathematical knowledge from high school is assumed.

Rules for evaluation and completion of the course

Students will receive credit if they receive at least 20 out of 40 possible points awarded in the exercises. Points may be earned from 2 continuous written assignments, namely a continuous written assignment in the macroeconomics section written in week 7 of the semester and a continuous written assignment in the microeconomics section written in week 13 of the semester. The maximum score for the written papers is 40 points and is distributed in a 55:45 ratio. Thus, the maximum number of points in the written paper of the microeconomics part is 22 points, the minimum number of points for passing is 11 points. The maximum number of points for the written part of the macroeconomics paper is 18 points and the minimum number of points for passing is 9 points. The student is entitled to a refund of the deadline for both the first and second continuous written work. The make-up date for both written papers will be at the beginning of the examination period. Details of the time and venue of the alternative deadline for the continuous written work will be given in the e-learning or in the course news. Students' attendance at tutorials is not monitored.

 

The examination includes theoretical questions and computational problems. All questions in the examination are either in the form of test questions, where there will be only one correct answer option, or in the form of true/false questions. For test questions, a student may score 2 points for a correct answer, a question with no answer and a question with a wrong answer will be scored 0 points. For true/false questions, a student may earn 1 point for a correct answer, no answer or an incorrect answer will be scored 0 points. The questions in the test are represented by a 45 : 55 ratio of macroeconomics and microeconomics. Students must score at least 30 points on the exam.

Grading scale (a student may obtain a maximum of 40 points in the tutorial and a maximum of 60 points in the exam, i.e. 100 points in total):

A: 90-100 points

B: 80-89 points

C: 70-79 points

D: 60-69 points

E: 50-59 points

F: less than 50 points

 

A student has the right to withdraw from the exam at least 24 hours before the exam. A student who opts out of an examination is treated as if he/she had not registered for the examination. If a student withdraws from an examination after the examination has begun, if he/she fails to appear for the examination without proper excuse, or if his/her excuse is not accepted, the student will be graded with a grade of "F". If a student fails to withdraw from an examination on time, he/she may, for serious reasons, especially health reasons, apologise to the examiner additionally, within 5 working days of the date set for the examination or the removal of the obstacle preventing the apology.

Aims

The learning outcome of the course is the acquisition and organization of basic knowledge in the field of economic theory. Based on the introduction to the basic concepts of microeconomics and macroeconomics, students will understand the logic of the market process and the operation of market mechanisms in everyday life. The main objective is to analyse real phenomena in the market environment and apply the acquired knowledge in designing solutions. Students will be able to explain basic concepts of economic theory, the principles of human "economic behavior", as well as understand the basic mechanism of the national economy and its equilibrium, including the interconnection of the national economy with the world economy and their impact on local interests of firms and institutions.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

PAVLÁKOVÁ DOČEKALOVÁ, M.; LUŇÁČEK, J.; ROZMAHEL, P. Ekonomie: Sbírka řešených příkladů. Brno: Akademické nakladatelství CERM, s.r.o., 2018. ISBN: 978-80-214-5604-4.
ŠKAPA, S.; KRUNTORÁDOVÁ, M.; FOJTU, K. Mikroekonomie I - sbírka příkladů. VUT v Brně CERM, 2012. ISBN 978-80-214-4584-0.

Recommended reading

Mankiw, G. Principles of Economics. Global Edition. Pearson Education Limited. 2019. 816 s. ISBN 9781292294698

Classification of course in study plans

  • Programme BAK-MIn Bachelor's 1 year of study, summer semester, compulsory

Type of course unit

 

Lecture

39 hours, optionally

Teacher / Lecturer

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Syllabus

  1. Introduction to the subject and basic background- The origin of economics and its subject. Basic economic concepts and principles. Rational human behaviour. The economic cycle of factors of production and goods, household income and firm income.
  2. Consumer behaviour and demand formation. Utility theory. Consumer optimum (equilibrium). Market demand. Law of diminishing demand. Elasticity of demand.
  3. Firm behaviour in a perfectly competitive market. Types of costs and profits. Equilibrium of the firm. The supply curve and the firm's point of closure. Elasticity of supply.
  4. Market equilibrium and equilibrium price. Achieving market equilibrium. Stability of the market equilibrium. Balancing marginal utility and marginal cost. Externality.
  5. Imperfect competition, basic characteristics of market structures: monopoly, oligopoly, monopolistic competition and monopsony.
  6. Factor markets - capital, labour and land markets. Achieving equilibrium in factor markets.
  7. Microeconomic state policy and state intervention in prices: price ceiling, effect of excise duty on price and quantity change, price subsidies (price floor).
  8. Aggregate supply, aggregate demand. Economics in the AS-AD model.
  9. Measuring the performance of the economy, output and income type indicators. Economic growth and the business cycle.
  10. Money and its importance in the economy. Demand for money. Banking system and money supply. The money market. Inflation, its causes and consequences.
  11. Economic policy and its objectives. Fiscal policy.
  12. Monetary policy.
  13. International trade and capital flows. Exchange rates.

Expertise:

The graduate of the course will be able to:

  • Define and explain basic economic concepts (e.g., scarcity, opportunity cost, demand, supply, market equilibrium, elasticity, GDP, inflation, unemployment, business cycle, money, interest rate).
  • Describe the basic principles of the market mechanism, including the consumer theory and the theory of the firm, under conditions of perfect and imperfect competition.
  • Identify the main macroeconomic aggregates and understand the methods of measuring them.
  • Explain the nature and instruments of fiscal and monetary policy and their potential effects on the economy.
  • Describe the basic principles of international trade and exchange rates.
  • Know the basic economic trends and their main ideas.

 

Professional competence:

The graduate of the course will be able to:

  • Analyse the influence of various factors on demand, supply and market equilibrium using graphical models.
  • Interpret basic microeconomic and macroeconomic indicators and data.
  • Apply economic principles to analyze simple real-world situations and decision-making by individuals, firms or governments.
  • Understand the interrelationships between key macroeconomic variables (e.g., the relationship between inflation and unemployment, the effect of interest rates on investment).
  • Assess the basic arguments for and against different types of government intervention in the economy (e.g. price controls, taxes, subsidies).
  • Critically evaluate simple economic reports and commentaries.

Exercise

26 hours, optionally

Teacher / Lecturer

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Syllabus

  1. Information about the organization of the exercise, requirements for credit. Market and market mechanism.
  2. Consumer behaviour and demand formation. Elasticity of demand.
  3. Firm behaviour in a perfectly competitive market, equilibrium of the firm, supply curve and point of closure.
  4. Market equilibrium and externalities.
  5. Imperfectly competitive markets: Monopoly, Oligopoly, Monopolistic competition.
  6. Factor markets.
  7. Intermediate test in microeconomics. Market interventions by the government in prices.
  8. Formation of AS-AD curves, AS-AD model, price and non-price factors at macroeconomic level.
  9. Measurement of economic performance, calculation of output and income type indicators. Business cycle model.
  10. Money market. Principle of deposit money creation in the economy and its relation to economic performance. Money multiplier. Inflation and inflation measurement.
  11. Types of fiscal policy.
  12. Types of monetary policy
  13. Intermediate test in macroeconomics. Balance of payments, balance of payments accounts. Exchange rates and identification of factors influencing currency depreciation and appreciation.

Expertise - the graduate of the course will be able to:

  • Define and explain basic economic concepts (e.g., scarcity, opportunity cost, demand, supply, market equilibrium, elasticity, GDP, inflation, unemployment, business cycle, money, interest rate).
  • Describe the basic principles of the market mechanism, including the consumer theory and the theory of the firm, under conditions of perfect and imperfect competition.
  • Identify the main macroeconomic aggregates and understand the methods of measuring them.
  • Explain the nature and instruments of fiscal and monetary policy and their potential effects on the economy.
  • Describe the basic principles of international trade and exchange rates.
  • Know the basic economic trends and their main ideas.

Professional competence - the graduate of the course will be able to:

  • Analyse the influence of various factors on demand, supply and market equilibrium using graphical models.
  • Interpret basic microeconomic and macroeconomic indicators and data.
  • Apply economic principles to analyze simple real-world situations and decision-making by individuals, firms or governments.
  • Understand the interrelationships between key macroeconomic variables (e.g., the relationship between inflation and unemployment, the effect of interest rates on investment).
  • Assess the basic arguments for and against different types of government intervention in the economy (e.g. price controls, taxes, subsidies).

Professional Skills - the graduate of the course will be able to:

  • Use graphical tools (demand and supply curves, production possibilities, etc.) to illustrate and analyze economic concepts.
  • Perform basic calculations related to economic variables (e.g. calculating elasticity, turning point, simple macroeconomic indicators from provided data).
  • Retrieve and process basic economic data from available sources (e.g. statistical offices, central banks).
  • Formulate simple economic arguments orally and in writing using the terminology learned.

Self-study

75 hours, optionally

Teacher / Lecturer

prof. Ing. et Ing. Stanislav Škapa, Ph.D.

Individual preparation for an ending of the course

50 hours, optionally

Teacher / Lecturer

prof. Ing. et Ing. Stanislav Škapa, Ph.D.