Course: Business Economics

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Course title Business Economics
Course code KTMI/KX023
Organizational form of instruction Lecture
Level of course Bachelor
Year of study not specified
Semester Winter
Number of ECTS credits 3
Language of instruction Czech
Status of course Compulsory
Form of instruction unspecified
Work placements unspecified
Recommended optional programme components None
  • Sellner Karel, doc. Ing. CSc.
  • Zábranská Alena, Ing. Ph.D.
Course content
1. Company as a part of national economy. Company and business. 2. Company property structure. Company capital categories. 3. Costs, Revenues, Expenditures and Incomes. Net income. Profit and its categories. 4. Cash flow, relation to net income 5. Company Strategy, strength and weaknesses analysis. SWOT analysis. Company targets and measurements for its achieving. 6. Company life and development. Business plan. Innovation. 7. Company organization, characteristics of main types of organizational structure. 8. Main principles of company management. Control activity. 9. Capacity. Time capacity of equipment and employees. Utilization of production capacity. Calculations of capacity. 10. Stock. Supply chain. Stock management, stock records, stock turnover. Minimal and optimal stock. Non-finished production and finished products supply. 11. Products and services price proposal. Determination of tariffs. Production targets performance analysis. 12. Investment activities of the company. Decision-making, evaluation, preparation and realization of investments. Investment cost structure. 13. Methods of investment and innovation evaluation.

Learning activities and teaching methods
  • unspecified - 24 hours per semester
  • unspecified - 16 hours per semester
  • unspecified - 70 hours per semester
Learning outcomes
Students are to understand the way the company works, its goals, strategies and tactics essential for its running within the national economy. The course will demonstrate that the company must economise with certain assets whose structure is to provide sufficient production adequate to production capacity. It will also illustrate how to generate economic results on the grounds of calculating the products prices and services which will secure company's further development based on innovations. Such results are to be generated on the grounds of investment into new technologies.
Students are to acquire an outline of types and lines of businesses focusing on production businesses. Students will be able to make a simple organisation structure, acquire the knowledge of basic economic terms and their mutual links necessary for efficient business i.e. provide a business outline, distinguish types of costs, revenues and economic results; to analyse critically those items, set up a calculation for a product price, to compare calculations for production capacity and production laboriousness; to specify, describe and explain relevant problems and trends of the investment development. Students will be able to discuss, articulate and present their own views and stands on these issues.

Assessment methods and criteria
Lecture attendance is recommended, not obligatory. Standard assissment based on following assignments: a) presentation of current information on the subject taught in the range of about 15 - 20 minutes (10%) b) test (10 %) c) projekt (20 %) d) in writing exam (60 %) Course grade will beawarded according to the total score in the range of 1 -10 points bassed on the following fading scale: 9 - 10 points: Excellent (1) 7 - 8 points: Very good (2) 5 - 6 points: Good (3) 0 - 4 points: Fail without make-up option (4) In the event of assissment (4) exist to right of 2 correcting attempts (conditions for completing the first attempt), marks will be awarded according to the above scale.
Recommended literature
  • Mikovcová H.,Schollová. H. Praktikum podnikové ekonomiky.
  • Petrželová, J. Encyklopedie ekonomických a právních pojmů. 1999.
  • Pittner M., Švejda. Řízení inovací v podniku, Asociace inovativního podnikání. 2004.
  • Sedláček, J. Cash-flow, Computer Press Brno, 2003, ISBN 80-7226-875-9.
  • Smejkal V, Rais K. Řízení rizik ve firmách a jiných organizacích. 2010.
  • Synek, M. a kol. Manažerská ekonomika.Grada 2007. Praha: Grada Publishing, 2000.
  • Synek, M. a kol. Podniková ekonomika. Praha: CH Beck, 2006, ISBN 80-7179-892-4. 1997.

Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Mechanical Engineering Production Management (15) Mechanical engineering and mechanical production 2 Winter
Faculty of Mechanical Engineering Energetics - Heat Industry (15) Special and interdisciplinary fields 2 Winter
Faculty of Mechanical Engineering Production Management (11) Mechanical engineering and mechanical production 2 Winter
Faculty of Mechanical Engineering Energetics - Heat Industry (11) Special and interdisciplinary fields 2 Winter