Course detail

The aim of the course is to deal in more detail with the causal substance of economic relations, and to develop abilities and skills necessary to express economic relations by exact means and consequently carry out their analyses.

Acquired knowledge and practical skills will be applied to modelling dependencies of factors relating to economic phenomena, explaining their relations and solving problems of microeconomic and macroeconomic environment by with simple mathematical methods.

Basic course on mathematics completed within university study, basic course on microeconomics and macroeconomics.

The aim of the subject is the modelling of economic processes (micro and macro) by means of exact means of current engineering mathematics to set up conditions for subsequent computerizing. It essentially contributes to the development of student´s ability to comprehend causal essence of economic interrelations and to perform economic analyses. The contents includes : demand and supply analysis; consumption and saving with the basic models of national economy; revenue, cost and profit analysis; production; elasticity of demand and supply; utility; optimization.

Teaching methods depend on the type of course unit as specified in the article 7 of BUT Rules for Studies and Examinations.

Conditions for awarding classified course-unit credits:
Classified course-unit credit is awarded on condition of having submitted a written assignment containing at least 12 tasks:
Two tasks regarding each of the following topics: Supply and demand; Product and pension; Income, costs and profit; Production; Elasticity; Utility.
Tasks chosen for the assignment should be worked out at least at medium difficulty level (for this purpose it is possible to use example tasks contained at the end of each chapter in the textbook Econometrics for masters' study programme or other recommended materials). The assignment has to include detailed calculations, step-by-step solution, or explanation if necessary. The assignment has to be written in relevant formal style, and has to be hand-written (if appropriate, it is possible to use graphic output from PC).

Topics of lectures:
- basic principles of economic analysis and modelling,
- supply and demand,
- market equilibrium,
- consumptions and savings,
- models of national economy, IS-LM analysis,
- incomes, costs and profits,
- production,
- elasticity of demand of supply,
- utility,
-

Topics of exercises:
- practising of topics discussed in lectures,
- working out of individual assignments.

Attendance at lectures is not controlled.

Mezník, I.:Ekonometrie pro magisterské studijní programy. FP VUT v Brně v Akademickém nakladatelství CERM, s.r.o., Brno 2005
Mezník, I.:Úvod do matematické ekonomie pro ekonomy, FP VUT v Brně,Brno 2011