OPF:PEMNAMEK Managerial Economics - Course Information
PEMNAMEK Managerial EconomicsSchool of Business Administration in Karvina
- Extent and Intensity
- 2/2/0. 5 credit(s). Type of Completion: zk (examination).
- Ing. Žaneta Rylková, Ph.D. (lecturer)
doc. RNDr. Ing. Roman Šperka, Ph.D. (lecturer)
Ing. Žaneta Rylková, Ph.D. (seminar tutor)
- Guaranteed by
- doc. RNDr. Ing. Roman Šperka, Ph.D.
Department of Business Economics and Management - School of Business Administration in Karvina
Contact Person: Ing. Žaneta Rylková, Ph.D.
- Course Enrolment Limitations
- The course is also offered to the students of the fields other than those the course is directly associated with.
- fields of study / plans the course is directly associated with
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Accounting and Taxes)
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Business)
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Corporate Finance)
- Business Economics and Management (programme OPF, N_EKOMAN, specialization Marketing and Trade)
- Economy of Enterprise in Trade and Services (programme OPF, N_EKOMAN)
- Course objectives
- The aim of this course is to provide students with knowledge in economic concepts, economic analysis, managerial decisions and to apply their knowledge of managerial economics in practice. Managerial economics integrates many concepts from a wide variety of managerial problems. Problems can be related to various departments in a company like production, accounts and sales. Managerial economics helps recognize how economic forces affect organizations and describes the economic consequences of managerial behavior.
- Basic concepts of business economics
Importance and consequence of the study of business and managerial economics, basic concepts and subject matters of business economics and the basic problems of business economics are examined in order to properly understand the business activities.
Cost Volume Profit Analysis
Understanding the product cost structure is critical to comprehending the process of estimating. Selling costs are costs directly related to selling products. Costs are categorized according to their behavior in relation to product quantity. Cost volume profit analysis is based on relationship between quantity and sales revenues.
Non-Linear Revenues in Economics and in Break-Even Point Graph
Break-even analysis provides businesses a wide variety of information that can be used in decision-making processes, in business and managerial economics. Mentioned are conditions for comprehensive utilization of the break-even point based on incorporation of demand function in the current broadcasts in the break-even point graph construction.
Production planning is used in companies in several different industries. Different types of production methods, such as single item manufacturing, batch production, mass production, continuous production are explained, with accent to differences. Economies of scale is classified to two main types internal and external.
Capital and factors of production
Factors of production are classified in four groups (land, labor, capital, entrepreneur). Capital is the produced means of production. Examples of capital and an increase in the capital are explained. Capital goods, fixed capital, working capital and capital used to boost the productivity of labor are characterized.
Growth is probably the most important goal for a business because that is what investors and shareholders look for. Growth can be achieved through several strategies which are explained. Three roles for purpose in strategic management are characterized strategy, organizational culture and business model.
Investment is described through business planning process, investment process, business planning system, investment planning system and decentralization. Principal factors are identified in the investment decision-making act.
The business performance measurement and management belong to the crucial tasks of the management. Many different concepts, tools and indicators exist. The business performance is examined to properly understand the three main approaches to performance management and measurement: traditional approach, modern approach and comprehensive approach.
- Basic concepts of business economics
- required literature
- ADÁMEK, P. and Ž. RYLKOVÁ. Managerial Economics. Selected Aspects of the Business. Karviná: OPF SU, 2014. ISBN 978-80-7248-991-6. info
- BHAT, M. S. and A. V. RAU. Managerial Economics and Financial Analysis. Hyderabad: BS Publications, 2008. ISBN 978-817-800-153-1. info
- recommended literature
- WITCHER, B. J. and V. J. CHAU. . Strategic Management: Principles and Practice. Hampshire: Cengage Learning EMEA, 2010. ISBN 978-1-84480-993-6. info
- SIVAGNANAM, K. J. and R. SRINIVASAN. Business Economics. India: Tata McGraw-Hill, 2010. ISBN 978-0-07-068215-3. info
- TATICCHI, P. Business Performance Measurement and Management. New Contexts, Themes and Challenges. Berlin: Springer-Verlag, 2010. ISBN 978-3-642-04799-2. info
- Teaching methods
- Lecture supplemented with a discussion
Lecture with presentation in Power-point
- Assessment methods
- Language of instruction
- Further comments (probably available only in Czech)
- The course can also be completed outside the examination period.
- Teacher's information
attendance in seminars 60 %, seminar paper, defence of seminar paper, final written exam
Activity Difficulty [h] Ostatní studijní zátěž 53 Přednáška 26 Seminář 26 Zkouška 40 Summary 145