To provide seniors at the university level with an overview of the development of the world of finance, from the historical roots of banking in the Czech lands to today's digital payments, in a clear and practical way.
Teacher(s)
Syllabus
1. History of banking in the Czech lands We will focus on the development of banking and the central banking system in the Czech lands in connection with the history of Czech statehood. We will go through the period of Austria-Hungary, the formation of Czechoslovakia and the formation of the currency and key institutions. We will explain the impacts of wars, monetary reforms after 1945 and the changes in banking during the planned economy. We will start with the restoration of the two-tier system after 1990 and the role of foreign banks in Czech banking and the Czech National Bank in the European context. 2. Deposit and savings products, payment instruments We will show you how to deposit savings and how to navigate savings accounts, term deposits and other deposit products. We will discuss deposit insurance as well as building savings, supplementary pension savings and DIP. We will start with payment systems: cash and non-cash payments, payment cards and their safe use. We will add modern trends (mobile banking, instant and QR payments, digital wallets, BankID). 3. Risks of financial transactions We will discuss typical payment risks and unfair business practices that we may encounter. We will explain how to protect cash and how to recognize the basic protective features of banknotes and coins. We will focus on secure access to online and mobile banking and the protection of sensitive data. We will show you how to recognize fraudulent phone calls, SMS and emails, as well as fake investment offers. 4. Loans and advances We will discuss basic types of loans and learn how to compare offers using key parameters and calculators. We will show you what to check before agreeing to a loan and how to read a loan agreement, including collateral. We will explain the meaning of the APR and point out the most common "tricks" in loan offers. We will touch on consolidation, debt traps and possible solutions, including personal bankruptcy. 5. Insurance and the insurance market We will present the development of the insurance market in the Czech Republic and start with the main trends and changes of recent years. We will explain what insurance is and how to correctly understand an insurance product and its function. We will discuss the actors of the insurance market and the role of the Czech National Bank in supervision. We will show you the types of insurance products and what to look out for in terms, exclusions and setting insurance amounts. 6. How to be an informed shareholder or creditor We will focus on investing in shares and bonds and clarify the difference between the roles of a shareholder and a creditor. We will show you what sources of information to draw from to assess the quality and risk of an investment. We will learn how to work with an annual report and extract practical information from it for decision-making. We will practice a simple procedure for verifying key facts before investing. 7. Financing of non-profit organizations with an excursion We will introduce the non-profit sector as an important part of public life in the Czech Republic and clarify its basic roles. We will discuss the legislative framework and the main methods of financing non-profit organizations in practice. We will show typical sources of income (donations, grants, public collections, subsidies) and their specifics. We will add an excursion to a historical building managed by the S.O.S. Karviná association as a specific example of financing from a public collection. 8. Alternative investments We will introduce selected alternative investments as a supplement to the investment portfolio. We will discuss cryptocurrencies, real estate, collectibles, wine, precious metals and other commodities. For each type, we will show typical benefits, costs and specific risks and liquidity. We will set realistic expectations and rules for when alternatives make sense and when they can be harmful. 9. How the brain and emotions control our finances We will show why financial decision-making is not just about numbers and how emotions and habits enter into it. We will discuss emotional competence as an important part of financial literacy. We will explain selected errors of judgment (e.g. loss aversion) and their impacts on our choices. We will learn how to better align reason and emotions and limit impulsive decision-making. 10. Inflation made clear We will explain inflation, deflation and the concept of price stability using examples from everyday life in the Czech Republic and Europe. We will show what inflation targeting means and why it is important for households and companies. We will discuss how changes in interest rates are reflected in the economy. We will place this in the framework of the monetary policy of the Czech National Bank and the European Central Bank. 11. The Euro and its use We will review the history of European monetary integration and the emergence of the euro, including the main benefits and problems of the monetary union. We will show how the euro is used in international trade, travel and investment. We will transfer the topic to personal finances: payments, prices, savings and comparing costs. We will touch on the Czech Republic's relationship to the euro and possible directions for future development. 12. Taxes and public finances + final test We will explain what public finances are and why the state and municipalities need stable revenues. We will discuss where public budgets draw funds from and where expenditures go. We will show how the state budget, deficit and public debt work and what the consequences are. We will start with an overview of the main taxes and levies and the possibilities of legal optimization (discounts, deductions, donations).
Course Enrolment Limitations
The capacity limit for the course is 50 student(s).
