UVSSPUP009 Basics of Economics

Faculty of Public Policies in Opava
Summer 2025
Extent and Intensity
1/1/0. 3 credit(s). Type of Completion: zk (examination).
Teacher(s)
doc. Ing. Pavel Tuleja, Ph.D. (lecturer)
Guaranteed by
doc. Ing. Pavel Tuleja, Ph.D.
Institute of Public Administration and Social Policy – Faculty of Public Policies in Opava
Contact Person: Ing. Lucie Kamrádová, Ph.D.
Timetable
Tue 11:25–12:10 C204
  • Timetable of Seminar Groups:
UVSSPUP009/A: Tue 12:15–13:00 C204, P. Tuleja
Prerequisites
Basic knowledge of mathematics: Students should be able to work with simple calculations and graphical representations of economic phenomena.
Basic orientation in the social sciences: Previous experience in subjects such as foundations of social sciences, civics etc. is welcome.
Ability to work independently: Students should be prepared to study the recommended literature independently and to participate actively in seminars.
Basic analytical and logical thinking: The ability to follow causal relationships and interpret simple economic models is assumed.
Interest in current economic events: Students should follow basic economic events and be willing to think about them in a broader context.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The aim of the course is to provide students with a systematic introduction to the basics of economics. The course is structured in two main parts: microeconomic and macroeconomic. In the microeconomic part, students are introduced to basic economic concepts, principles of market functioning, models of perfect and imperfect competition, and the functioning of the labour and capital markets. The macroeconomic part is aimed at understanding the functioning of the economy. Students will learn about key macroeconomic indicators, aggregate demand and supply, the role of money in the economy, macroeconomic aspects of the labour market and the fundamentals of economic policy, particularly fiscal and monetary policy. The course concludes with a discussion of the business cycle. The course includes seminars in which students deepen and consolidate the knowledge acquired in lectures through practical exercises and discussions.
Learning outcomes
Understanding of basic economic concepts: Students will be able to explain basic microeconomic and macroeconomic principles.
Analysis of market functioning: Students will be able to analyse supply, demand, equilibrium and market structures in different types of environments.
Application of theoretical models: Students will be able to apply basic economic models to real-world situations.
Interpretation of macroeconomic indicators: Students will learn to work with concepts such as GDP, inflation, unemployment and understand their connections.
Understanding economic policy instruments: Students will be able to distinguish and interpret fiscal and monetary policy instruments.
Basic economic reasoning: Students will be able to formulate simple economic arguments and explain the implications of economic decisions.
Syllabus
  • Basic concepts and context of economics: Economic way of thinking. The role of the model in economics. The role of the model in economics. Basic methods and tools of economic analysis.
  • Market and its characteristics: Market, exchange and price. Market functions. Types of markets: market actors. Basic elements of the market.
  • Model of perfectly and imperfectly competitive market: The nature of perfect competition. The firm's output in the very short run. Firm's output in the short run. Firm's output in the long run. Efficiency of a perfectly competitive market. The nature of imperfect competition. The cause of imperfect competition. The nature of imperfect competition.
  • Production factor markets: Production factor prices. The labour market under perfect competition. The labour market under imperfect competition. The concept of capital. Capital goods and their accumulation. The capital market. Returns to capital.
  • Market failure and the microeconomic role of the state: Definition of market failure and its basic forms. Imperfect competition. Externalities. Public goods. Imperfect information. The state and market failure. Government failure.
  • Basic macroeconomic indicators: macroeconomics and stabilization policy. Product. Price level. External economic equilibrium.
  • Basic macroeconomic models: Basic macroeconomic models. Multiplier model. AS-AD model. Aggregate supply. Aggregate demand. Macroeconomic equilibrium in the AS-AD model.
  • Money and price stability: the origin of money and its function in the economy. The banking system and money creation. Money supply and its changes - role of the central bank. Money market equilibrium. Quantitative theory of money. Types of inflation and its effects on the behaviour of economic agents. Causes of inflation and its effects on the economy. Anti-inflationary policies.
  • Labour market and unemployment: Definition of labour force and unemployment. Types of unemployment. Labour market.
  • Economic growth, business cycle and economic policy: Economic growth, Economic cycle. Economic policy.
  • Fiscal policy: State budget. Fiscal policy instruments. Budget balance. Government debt. Macroeconomic approach to the concept of fiscal policy. Budget and redistribution issues.
  • Monetary policy: Monetary policy and its instruments. Types of monetary policy. Theoretical approach to the use of monetary policy. Combination of fiscal and monetary policy.
  • Economic policy and the measurement of its success: Economic policy and its objectives. Macroeconomic performance indices. Phillips curve. Magic n-squares.
Literature
    required literature
  • HOLMAN, R. Ekonomie - 4. vyd. Praha: Beck, 2005. ISBN 80-7179-891-6. info
  • TULEJA, P., MAJEROVÁ, I., NEZVAL, P. Základy makroekonomie. Brno: Computer Press, 2012. ISBN 978-80-265-0007-0. info
  • JUREČKA, Václav. Makroekonomie, 3., aktualizované a rozšířené vydání. 2017th ed. Expert, 2017, 368 pp. ISBN 978-80-271-0251-8. info
  • TULEJA, P., NEZVAL, P., MAJEROVÁ, I. Základy mikroekonomie. Praha: CP Books, 2011. ISBN 978-80-251-3577-8. info
    recommended literature
  • HOLMAN, R. Základy ekonomie. Praha: C. H. Beck, 2000. ISBN 80-7179-434-1. info
  • PALIČKOVÁ, I. Cvičebnice mikroekonomie. Brno: BizBooks, 2012. ISBN 978-80-265-0042-1.
  • SAMUELSON, P. A., NORDHAUS, W. D. Economics. New York, 2005. ISBN 0-07-287205-5. info
Teaching methods
Lectures with discussion: Theoretical explanation supplemented by practical examples and space for questions and discussion.
Seminars focused on practical tasks: Problem solving, graph interpretation, working with models and case situations.
Independent work of students: Studying recommended literature, completing continuous assignments and preparing for tests.
Group work and presentations: Collaboration on selected topics, presentation of opinions and conclusions in front of the group.
Work with the literature: Active use of primary and supplementary texts to enhance knowledge.
Assessment methods
The course is completed by an examination test, which the student takes within the IS SU system. To pass the test successfully, the student must write the test at least 60%, i.e. 18 out of 30 points.
Language of instruction
Czech
Further comments (probably available only in Czech)
Study Materials
Teacher's information
All necessary information is available in the Interactive Course Syllabus.
The course is also listed under the following terms Summer 2023, Summer 2024.
  • Enrolment Statistics (recent)
  • Permalink: https://is.slu.cz/course/fvp/summer2025/UVSSPUP009