Introduction to economic theory
Content (Syllabus outline):
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The system of economic science
Microeconomics
Macroeconomics
Economic growth and development
Economic policy
Objectives and competences:
Students will develop general competences:
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capability
capability
capability
capability
of using economic terms,
of using the economic knowledge in practice,
of analysing causes and consequences of economic phenomena,
of using basic research methods for analysing economic phenomena.
Students will develop course-specific competences:
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capability to independently develop knowledge about the possibilities and limitations of economic
theory, which is based on neoclassical synthesis, when explaining economic phenomena,
capability to solve basic microeconomic problems,
capability to solve basic microeconomic problems,
capability to understand social and economic processes of nations,
capability to understand functioning of instruments and measures of economic policy.
Intended learning outcomes:
Knowledge and understanding:
The student will get acquainted with the genesis of particular economic concepts which form
contemporary economic theory or which represent the core for developing alternative economic theories.
The student will get the knowledge to understand:
 the law of supply,
 the law of demand,
 the laws of market mechanism,
 the laws of the distribution process.
The student will get acquainted with the following macroeconomic aggregates:
 aggregate supply,
 aggregate demand,
 GDP,
 consumption,
 investment,
 export and import,
 money demand and supply.
The student will get acquainted with the relations between particular macroeconomic aggregates and the
following consequences of these relations:
 macroeconomic equilibrium,
 inflation,
 unemployment,
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economic policy.
The student will get acquainted with the processes of the economic growth and development with the
special emphasis on the economics of developing countries.