Basics of business economics
- Class 30
- Practice 15
- Independent work 75
Course title
Basics of business economics
Lecture type
Obligatory
Course code
22-00-505
Semester
2
ECTS
4
Lecturers and associates
Course overview
The objectives of this module is to enable students to learn to:
• present basic elements of micro- and macroeconomics and economic system as a whole
• interpret the relationship between different elements of economic system in order to be able to make good economic decisions.
Literature
Essential reading:
1. Samuelson, P.A. and Nordhaus, W.D. (2009) Economics. [s.l.] McGraw-Hill Education.
Recommended reading:
1. Mankiw, N.G. (2011) Principles of Economics. [s.l.] Cengage Learning
2. Pindyck, R.S. i Rubinfeld, D.L. (2012) Microeconomics.8th edn. [s.l.] Pearson.
Further reading:
1. Raworth, K. (2018) Doughnut Economics: Seven Ways to Think Like a 21st Century Economist. [s.l.] Chelsea Green Publishing.
2. Sowell, T. (2014) Basic Economics.5th edn. [s.l.] Basic Books.
3. DK (2018) The Economics Book: Big Ideas Simply Explained. [s.l.] DK.
4. Hazlitt, H. (1988) Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics. [s.l.] Currency.
Bachelor of Computer Engineering, sub-specialization in Software Engineering
Minimal learning outcomes
- Present the basic elements of the economic system.
- Explain market, supply, demand and the concept of elasticity of supply and demand.
- Analyse the factors influencing consumer behaviour and producer decisions.
- Explain the characteristics of production inputs.
- Explain the interaction of macroeconomic objectives, instruments and indicators.
- Explain the impact of various factors on economic growth and development.
Preferred learning outcomes
- Analyse the interaction of the basic elements of the economic system.
- Evaluate the impact of various factors on market decisions, supply, demand and on the elasticity of supply and demand.
- Interpret how different factors influence consumer behaviour and producer decisions.
- Compare the characteristics of production inputs.
- Analyse the impact of elements of economic activity on the economic results of the economy.
- Analyse different strategies of economic growth and development.