Basics of Business Economy

Basics of Business Economy

Course title
Basics of Business Economy
Course tag
10007
Semester
2
Course status
Mandatory
ECTS
4
Lectures
30
Practice
15
Independent work
75
Total
120
Teachers and associates
Msc Nataša Trojak, Senior Lecturer
Msc Ratka Jurković, Lecturer
The course aims
Teach students about basics of business economy and develop economic way of thinking.
Content
Ecocnimc terms and problems. Market. Ecocnomic functions of the state. Supply and demand, elasticity of supply and demand. Consumer behavior. Costs and costs analysis. Competitive markets and efficient business. Non-perfect competition and monopoly. Supply and demand for work. Macroeconomics. Basic macroeconomic indicators. Strategies of economic development. Global economy.
Literature:
Samuelson, P.A. and Nordhaus, W.D. (2007) Economics
Supplementary literature
Mankiw, N.G. (2006) Principles of Economics
Pindyck, R.S. and Rubinfeld, D.L. (2005) Microeconomics

Minimum learning outcomes

  1. Define basic economic terms and modern economy concepts.
  2. Explain functioning of modern econoy markets.
  3. Describe how markets influens business decisions about production and industry organization.
  4. Describe functioning of labour market.
  5. Explain basic macroeconomic terms and their interaction.
  6. Identify existing growth and development strategies and factors that influence economic growth and development.

Preferred learning outcomes

  1. Define basic economic terms and modern economy concepts.
  2. Assess the influence of market determinants on business results in modern economy.
  3. Evaluate production decisions and industry organization on different examples.
  4. Describe functioning of labour market.
  5. Analyze basic macroeconomic terms, causes and effects of unemployment, price stability and economic growth on examples.
  6. Identify existing growth and development strategies and factors that influence economic growth and development.