Economics EZ1A100137

Course content: Principles of economics. Economic growth and development, sustainable growth, methods of measuring conditions and standards of living, economic cycle, market and market regulations, enterprise in the market economy, functions of enterprise revenues, price elasticity of demand and its role in enterprise pricing policy, cost functions, profit definition, technical and economical equilibrium, economies of scale, market structure, consumer theory (possibilities frontier, relative prices, consumer equilibrium), economic policy, federal budget, monetary and credit system, monetary policy, causes and results of inflation, labor market, causes and types of unemployment, federal balance of payments and currency reserves, instruments of international trade.

Learning outcomes: Understanding of economic methodology and market situation, including creating arguments, empirical verification and policy decision making.