Objective of the course:
Aims of the course unit: To acquaint students with basic economic categories, quantities and models of economic theory as a theoretical basis for the study of related economic and managerial disciplines. Students will master the basic economic theoretical approaches to individual decision-making in solving problems in economic practice. Upon successful completion of this course, students will understand the principles of decision-making of economic entities at the microeconomic level and key factors affecting macroeconomic balance.
- Basic economic concepts, economic cycle, limits of production possibilities.
- Consumer decision-making in product and service markets.
- Company decision-making in product and service markets.
- Decision-making of households in factor markets.
- Decision-making of companies in the markets of production factors.
- Market equilibrium. Market and company efficiency. Market failure. State microeconomic policy.
- Measurement of macroeconomic performance. Economic policy, tools and functions.
- Money market.
- Determinants of macroeconomic equilibrium in the short run - aggregate demand.
- Macroeconomic imbalances, economic cycle, inflation, unemployment.
- Options for treating macroeconomic imbalances. Economic growth and its determinants.