Study programmes / B-EPA Economic policy and administration / Specialized Seminary - Economics
Course code:OSEK
Course title in language of instruction:Specialized Seminary - Economics
Course title in Czech:Odborný seminář - Ekonomie
Course title in English:Specialized Seminary - Economics
Mode of completion and number of credits:Fulfillment of requirements (2 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 0/2
(full-time, hours of lectures per week / hours of seminars per week)
Language of instruction:English
Level of course:bachelor
Semester:WS 2020/2021 - FBE
Name of lecturer:Ing. Bc. Martin Machay, Ph.D. (supervisor)
Prerequisites:(Language in Business - English or Language in Business - English or English 1 or English K 1 or English 1, EI) and Microeconomics I and Macroeconomics I
Aims of the course:The aim of the course is the introduction to English terminology used in the theory of economics. Students acquire an essential part of English terminology from the area of microeconomics, macroeconomics and economic policy. Mastering the terminology will enable students to resolve economic issues in English language.
Course contents:
1.Economics as a Science; Market Mechanism; Supply and Demand (allowance 0/4)
2.Human Nature and Utility; Neuroeconomics (allowance 0/2)
3.Consumer; Preferences; Indifference Analysis; Individual Demand (allowance 0/2)
4.Entrepreneur; Firm; Market Structure; Supply (allowance 0/2)
5.Markets for Factors of Production; General Equilibrium (allowance 0/2)
6.Market Failures (allowance 0/2)
7.Unemployment (allowance 0/2)
8.Economic Growth (allowance 0/2)
9.Inflation; Money; Banking System (allowance 0/2)
10.AS-AD Model; Economic Policies (allowance 0/2)
11.The End of Growth (allowance 0/2)
12.The Resource Economics - The Resources Depletion (allowance 0/2)
13.Final Test (allowance 0/2)

Learning outcomes and competences:
Generic competences:
-ability to analyse and synthesize
-ability to work independently
-communication in second language
-general knowledge
-science and research skills

Specific competences:
-student can explain in English the basic economic phenomena and their principles
-student is able to write literature overview of a selected economic topic in English
-student knows the basic terminology in the field of economic theory
-Student si able to deduce impact of selected instruments of economic policy into practice

Type of course unit:optional
Year of study:Not applicable - the subject could be chosen at anytime during the course of the programme.
Work placement:There is no compulsory work placement in the course unit.
Recommended study modules:none
Assessment methods:Student will pass the course after collecting 16 points in a sum of three activities over the semester. First, activity in the classes - 13 points. Second, a one-page essay on an economic article related to the student's bachelor thesis - 7 points. Third, final test - 10 points.

This course cannot be studied during the study placement.
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendance
Direct teaching
     seminar28 h
     preparation for exam18 h
     writing of seminar paper10 h
Total56 h

Basic reading list
  • ŠEVELA, M. Microeconomics I : (introductory course). Brno: Mendelova univerzita v Brně, 2012. 120 p. ISBN 978-80-7157-819-2.
  • ROZMAHEL, P. Macroeconomics. In Brno: Mendel University of Agriculture and Forestry, 2004. 135 p. ISBN 80-7157-817-7.
Recommended reading list
  • SCREPANTI, E. -- ZAMAGNI, S. -- FIELD, D. An outline of the history of economic thought. Oxford: Clarendon Press, 2004. 441 p. ISBN 0-19-877455-9.
  • TISDELL, C A. -- HARTLEY, K. Microeconomic policy: a new perspective. Cheltenham, UK: Edward Elgar, 457 p. ISBN 978-1-85278-561-1.
  • MACHAY, M. Specialized Seminary: Economics. Brno: Ústav ekonomie, 2018. 53 s. E-opora.