Vnější svět firmy - MBA for students - VŠE v Praze

Macroeconomic Competences / Vnější svět firmy

Course code: 3MB117
Course title in language of instruction: The companies ́ environment/Macroeconomic Competences
Course title in Czech: Vnější svět firem
Course title in English: The companies ́ environment/Macroeconomic Competences
Number of ECTS credits allocated: 6
Mode of delivery: Full-time
Mode of completion: Exam
Language of instruction: English
Level of course and year of study: -
Name of lecturer(s): Doc. Ing. Tomáš Pavelka, Ph.D.
Recommended optional programme components: none
Work placement: none

Aims of the course:

The subject provides to students information about the basic development of the Czech economy in the international environment. Students will study the development and tools for analyzing the basic components of demand, prices, interest rates, exchange rates, and the employment. Students will study tools which enable to evaluate the influence of government on the economy - especially the evaluation of effects of monetary and fiscal policy, protection of competition and regulation of selected sectors and the labour market.

Learning Outcomes and Competence:


Upon successful completion of this course, students will be able to:
  1. describe the current economic situation and discuss the current problems of the national economy in the international context;
  2. analyze the development of the core components of demand and assess the basic impacts of fiscal policy on the economy;
  3. evaluate price developments, identify the main causes of price and interest rate developments and discuss the effects of the current monetary policy of the CNB and the ECB;
  4. describe the key labour market indicators and identify the main reasons for their development; assess the labour policy of the government;
  5. analyze the relationship between the domestic economy and foreign economies through the balance of payments, foreign debt and exchange rates;
  6. analyze the effects of state regulation of business at the level of the economy and sectors.

Course contents:

  1. The economic development of the Czech Republic under the influence of changes in the European Union and other world economies (especially in the USA, China, Russian Federation)
  2. Public finance and fiscal policy: the effects of changes in budget revenues and expenditures, balance of public budget, public debt. Effects of public deficit and debt.
  3. Inflation and monetary policy. Inflation and interest rate development. Development in prices of securities. Price and financial stability, monetary policy options, Czech and European monetary policy.
  4. Employment and unemployment. Wage development, labour productivity, unit wage costs. The active and passive policy of employment.
  5. Development of exchange rates. Interest rate parity and purchasing power parity, ERDI


Full syllabus for the course [PDF]