Economics (SUT, year 1)

Module description

Course objectives:

The aim of the lectures is to introduce the basic economic ideas. Learning Economics by future engineers makes them.

Content of the course:


  1. What is economics.
  2. The market mechanism in economy. The element of supply and demand.
  3. The theory of enterprises. The basic concept of cost, income, profit and management.
  4. The financial market and finances of enterprises.
  5. Measurement of national output and income. The economic growth.
  6. Fiscal policy, deficits and the government debt. The impact on economy and enterprises.
  7. Money and commercial banking. Central Bank Monetary policy. The impact and economy and enterprises.
  8. Causes and effects.
  9. Definition and costs.
  10. International economic. The European Union – the main problem.

Problem solving classes:

  1. The uses of economics and pitfalls in economics reasoning.
  2. How markets solve the basic economics problems. Analysis of supply and demand: equliblium, effects of shift in supply and demand curves.
  3. Measuring of national output. Analysis of statistic data on national output. The solving exercises.
  4. The making of fiscal policy: concepts and trends in economies today. The solving exercises.
  5. Current issues in monetary policy: effectiveness and targets.
  6. Labour market issues.
  7. Research on trends in world economy today.

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