Study programmes / C-SE System engineering and informatics / Managerial Economics
Course code:MEK
Course title in language of instruction:Podniková ekonomika II
Course title in Czech:Podniková ekonomika II
Course title in English:Managerial Economics
Mode of completion and number of credits:Exam (5 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/2; part-time, 16/0
(full-time, hours of lectures per week / hours of seminars per week; part-time, lectures per period / seminars per period)
Language of instruction:Czech
Level of course:master continuing
Semester:SS 2018/2019 - FBE
Name of lecturer:doc. Ing. Pavel Syrovátka, Ph.D. (supervisor)
Prerequisites:Final Bachelor Exam
 
Aims of the course:The course deepens the knowledge from the business economy obtained within the bachelor study level. The aim of the course is to comprehensively summarize and interconnect the knowledge from the field of business economy and management. In the context of achieving effective management of business activities and processes, qualitative and quantitative methods and analytical tools are presented and applied in the course.
Course contents:
1.Introduction to the study of managerial economics (allowance 2/2)
 
a.business economics and managerial economics
b.subject and tools of managerial economics
c.enterprise objectives – classification and their hierarchy

2.Revenues of enterprise and market demand (allowance 6/6)
 
a.market demand and its key determinants, demand driven by the enterprise
b.models of market demand, analysis of demand elasticity
c.prediction of demand development

3.Production and sales – production economy (allowance 10/10)
 
a.production base of enterprise, production capacity, size and range of production
b.factor productivity and its development, cost of production
c.models of production and cost functions, economic optimization of production, inventory management - inventory models
d.operating profit and its composition, break-even point, profit maximization, profitability of production and sales

4.Market position of the enterprise (allowance 6/6)
 
a.horizontal and vertical market structure, concentration and competitive environment
b.sales relations – pricing and production strategies
c.enterprise integration, mergers and acquisitions

Learning outcomes and competences:
Generic competences:
 
-ability to analyse and synthesize
-ability to apply knowledge
-ability to make decisions
-ability to solve problems
-professional knowledge
-skilled at utilizing and processing information

Specific competences:
 
-Student has got the ability to choose the appropriate method for conducting economic analysis of respective business entity
-Student has got the knowledge about major methods for conducting the economic analysis of the business entity
-Student is able to apply proper methods of measurement of company processes´ performance
-Student is able to constuct the model of an economic problem.
-Student knows principles of economic equilibrium of a business entity.

Type of course unit:required
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:The course is completed by earning the course credit and the final grade. Students will earn the course credit by scoring at least 10 points in the Midterm Test and by participating, successfully defending the project with the individual score of at least 10 points.

The final grade is determined based on the total sum of the isemester project score and Midterm Test. Failing either or both, the student may get the grade based on individual oral examination.

The following table requires the student to score at least 50 points in Part I (Semester Project) and to score at least 10 points in Part II (Midterm Test). Then the final grade is determined as follows:
Total score, Final Grade
90 points or more, A
89 to 80 points, B
79 to 70 degrees, C
69 to 60 points, D
59 to 50 points, E
Less than 50 points, grade is determined by oral exam.

Students participating on study exchange abroad may not enroll in the course.
 
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h16 h
     practice14 h0 h
Self-study
     preparation for exam28 h64 h
     preparation for regular testing28 h0 h
     writing of seminar paper42 h60 h
Total140 h140 h

Basic reading list
  • ALLEN ET AL, B. Managerial Economics: Theory, Applications, and Cases, Seventh Edition. New York: W. W. Norton & Company, 2009. 704 p. ISBN 0-393-93224-9.
  • KISLINGEROVÁ, E. et al. Inovace nástrojů ekonomiky a managementu organizací. 1st ed. V Praze: C.H. Beck, 2008. 293 p. ISBN 978-80-7179-882-8.
  • SYNEK, M. Manažerská ekonomika 5. aktualizované a doplňené vydání. Praha: Grada, 2011. 480 p. ISBN 978-80-247-3494-1.
Recommended reading list
  • BAYE, M. Managerial Economics and Business Strategy. New York: McGraw-Hill Companies, 2002. 578 p. ISBN 0-07-115139-7.
  • LUŇÁČEK, J. -- MARTINOVIČOVÁ, D. Podniková ekonomika II. 1st ed. Brno: Mendelova univerzita v Brně, 2011. 152 p. ISBN 978-80-7375-489-1.
  • WÖHE, G. -- KISLINGEROVÁ, E. Úvod do podnikového hospodářství. 2nd ed. V Praze: C.H. Beck, 2007. 928 p. ISBN 978-80-7179-897-2.