Study grade : 1.
Year of study: 1.
Compulsory module
The aim of the course is to master the basic principles and assumptions of the functioning of the economy in various economic systems. The focus of the study is to understand the nature of the functioning of the market and the market mechanism based on a thorough analysis of the factors determining demand and supply. This allows students to understand how market equilibrium is created in the market, the equilibrium price and how, and why imbalances in the market arise. Based on current knowledge, students will understand how economic entities behave in conditions of perfect competition and imperfect competition.
Brief module description
- Development of economic thinking
- Subject and methodology of economic theory
- Assumptions of the functioning of the economy. Economic laws
- Market and market system
- Market mechanism. Demand, offer. Formation of market equilibrium
- Consumer behavior and demand creation
- Elasticity of demand and supply
- Theory of production and creation of supply
- Behavior of the company in conditions of perfect competition
- Causes of imperfect competition and balance of monopoly
- Balance of the company in conditions of oligopoly and monopolistic competition
- Market of production factors - Labor market. Land market. Capital market
- Distribution of pensions and quality of life
