Faculty of Economics
TUL - Central Building
at Hálkova Street
TECHNICAL UNIVERSITY OF LIBEREC
CZECH REPUBLIC
FACULTY OF ECONOMICS
Students’ Guidelines for Erasmus Program
THE TECHNICAL UNIVERSITY OF LIBEREC
HOW TO FIND US
By road
The town is easy to reach by road. There is a good motorway from
Prague to Liberec. The distance is 110 km (ca 70 miles) and the
approximate time of travel is 75 minutes.
By bus
There are fast and frequent services from Prague to Liberec. There are
links to other main towns in the Czech Republic.
By air
International services are available at the Prague Airport.
By rail
There is also a possibility to travel to Liberec by rail. However, the
connections are not direct and the approximate travel time from Prague
is about 3 hours.
For detailed descriptions of the way to Liberec see page 47.
2
Faculty of Economics
The Technical University of
Liberec
CZECH REPUBLIC
Students’ Guidelines for Erasmus Program
editors: Jan Skrbek
Hana Stárová
3
© THE TECHNICAL UNIVERSITY OF LIBEREC, 2007
ISBN 978 -80-7372-269-2
4
WELCOME TO THE FACULTY OF ECONOMICS
Welcome to the Faculty of Economics, the
Technical University of Liberec brochure. I
hope it will help you to make the important
decision about the place where you would
like to study. In addition to information on
study programmes and individual subjects,
the brochure aims to give you a notion of
student life in Liberec. There are also
practical details on application procedures,
on
accommodation
and
other
practical
issues.
Liberec has always had a reputation of a friendly town where students can enjoy life and be
successful in their studies. The Technical University of Liberec and its Faculty of Economics
both have a strong commitment to producing highly employable graduates. The Faculty
focuses on research activities and cooperates with prominent academic, scientific and
business institutions in the Czech Republic as well as abroad.
I hope you will find the information you require provided in this brochure. Yet, if there is more
you need to know, do not hesitate to contact anyone listed on the following pages. I am
confident we can offer you study programmes which closely suit your personal needs and
help develop your future career plans.
Doc. Dr. Ing. Olga Hasprová
Dean, Faculty of Economics
Technical University of Liberec
The brochure was published with the financial support of the European
Commission within the framework of the Socrates-Erasmus programme.
5
ERASMUS Programme
at the Faculty of Economics
Technical University of Liberec
ERASMUS is the European Union programme in the field of higher education and
involves majority of European countries. In 1987 the European Commission began
supporting a mobility programme for European students named after the
cosmopolitan scholar Erasmus. Quickly the programme became very popular
amongst the European students. Its core idea was to facilitate university students’
mobility amongst European universities. Thanks to the introduction of the new
Europe-wide programme, university students had increased opportunity to spend a
study period abroad at a partner higher education institution in another European
country.
Student and teacher exchanges, joint development of study programmes,
dissemination and implementation of results of CD projects, thematic networks
between departments/faculties across Europe, language courses and intensive
programmes, and European credit transfer system (ECTS), these are the activities
supported by ERASMUS, the programme for education in Europe. Erasmus develops
an increased awareness of European citizenship among the university population
The Technical University of Liberec has been involved in the Erasmus Programme
since its very beginning. There have been many students and teachers' exchanges
and also other activities in the Erasmus Programme.
For additional information, please visit the web page of the International Office of the
Technical University of Liberec:
http://www.rzs.tul.cz/en_index.phtml
6
FACULTY OF ECONOMICS
The Faculty of Economics of the Technical University of Liberec was officially established in
1992, under the decision of the Accreditation Committee of the Czech Government.
However, the tradition of economic courses taught at the Technical University of Liberec
(established 1953) is much older. The courses were parts of the programmes taught at the
Faculty of Mechanical Engineering and the Faculty of Textile Engineering.
The Faculty of Economics is located in the “H” building of the Technical University of Liberec
Campus. The address of the building is Voroněžská 13, 461 17 Liberec.
Address:
The Faculty of Economics
Hálkova 6
461 17 Liberec
Czech Republic
Phone:
+ 420 48 535 1111
Fax:
+ 420 48 535 2229
E-mail:
international.hf@tul.cz
Web:
www.hf.tul.cz
Dean
doc. Dr. Ing. Olga Hasprová
olga.hasprova@tul.cz
Vice-Dean for Full-time Studies
PhDr. Ing. Helena Jáčová, Ph.D.
helena.jacova@tul.cz
Vice-Dean for Research
doc.Ing.Miroslav Žižka, Ph.D.
miroslav.zizka@tul.cz
Vice-Dean for Part-time Studies
and Studies in English
Mgr. Hana Stárová
Vice-Dean for External Relations
doc. Ing. Jan Skrbek, Dr.
hana.starova@tul.cz
jan.skrbek@tul.cz
International Office and Erasmus
contact person
(building H – 7th floor)
Ing. Marie Hlavatá
marie.hlavata@tul.cz
7
Academic Programmes Offered
The Faculty of Economics provides education in all degrees and academic programmes
listed bellow:
Bachelor Study Programme
The degree Bachelor (Bc) in this study programme is obtained after three years of study.
The objective of this study programme is for students to acquire analytical, conceptual and
social skills, which would enable them to become efficient in the business environment,
insurance sphere or in computer programming and managing business information. The
knowledge gained from the subjects will allow students to take posts in manufacturing,
personnel, finances, marketing and other areas of business environment as well as in
governmental or regional agencies. The optional subjects provide students with an in-depth
knowledge of economic issues so that the graduates can become effective and efficient
managers in various types of enterprises (industrial, trade, infrastructure, insurance,
informatics and others). There are following bachelor programmes:
 Economic Policy and Administration, specialization in Insurance Management
Standard length of the programme is 3 years; full-time courses.
 Economics and Management, specialization in Business Administration
Standard length of the programme is 3 years; full-time and part-time courses.
Parallel academic programme in English organised for foreign students for a tuition
fee; standard length of the programme is 3 years.
 Economics and Management, specialization in Economics and Management of
International Trade
Standard length of study is 3 years; full-time courses.
 System Engineering and Informatics, specialization in Business Informatics
Standard length of the programme is 3 years; full-time courses which include one
year of practical training (in the third year of study).
 System Engineering and Informatics, specialization in Information and
Communication Management (University Neisse)
Standard length of the programme is 3 years; full-time courses; taught in English; the
1st year is taken in Liberec; the 2nd in Poland and the 3rd in Germany.
8
Master Study Programme
The degree Master (Ing) is obtained after two years of subsequent study following the
completion of the degree Bachelor.
The objective of this study programme is for students to deepen their skills in the field of
business network, information technologies and management of insurance enterprises
dealing with economic issues.
It will enable them to become efficient in the business
environment, insurance sphere or in computer programmes and managing business
information. The Faculty of Economics offers following master programmes:
 Economic Policy and Administration, specialization in Insurance Management
Standard length of the programme is 2 years of continuing studies; full-time course
only; the prerequisite for entry to the course is a Bachelor degree in Economics
 Economics and Management, specialization in Business Administration
Standard length of the programme is 2 years; full-time and part-time courses; the
prerequisite for entry to the course is a Bachelor degree in Economics.
Parallel academic programme in English organised for foreign students for a tuition
fee.
 System Engineering and Informatics, specialization in Managerial Informatics
Standard length of the programme is 2 years; only full-time course, the prerequisite
for entry to the course is a Bachelor degree in Informatics or Economics.
Doctoral Study Programme
Graduates from Master study programmes who are interested in scientific and research work
can apply for Doctoral Study Programmes in the field of "Economics and Management", or
"System Engineering and Informatics" or in "Economic policy and Administration". They will
be involved in research activities according to their choice, in the field of their studies. During
the period of the doctoral studies, students apply for courses connected with their scientific
work. Graduates from this programme are awarded with the title Ph.D., which is compatible
with the Ph.D. title awarded at the universities abroad.
 Economics and Management, specialization in Organisation and Business
Management
 System Engineering and Informatics, specialization in Informatics and
Economics
 Economic Policy and Administration, specialization in Insurance Management
9
Neisse University
The Neisse University represents a network of co-operation which is based on joint study
courses. Three universities from three countries are involved in the project:
 the Technical University of Liberec, Czech Republic
 the Wroclaw University of Technology, Poland and
 the University of Applied Sciences Zittau/Görlitz (FH), Germany.
The creation of a joint European sector of higher education has been the objective of
European universities since the 1999 Declaration of Bologna. Based on the understanding
that the process of European integration has made important progress during the last few
years and has increasingly become a concrete and real fact to the citizens, considerations
were raised to establish, by analogy, a joint sector of higher education.
The present three-national project is a step forward towards the creation of a joint European
sector of higher education. In its nature, it is unique in Europe, thus having the character of a
pilot project.
By their study at these three institutions, the students are being prepared in an excellent way
for the expanding EU labour market. Within the framework of the Neisse University, the joint
three-year Bachelor course of
"Information and Communication Management"
"Bachelor of Science"
(B.Sc.)
is offered in English at the Faculty of Economics of the Technical University in Liberec. For
up-to-date information see www.neisse-uni.org.
The university organizes an English preparation course for students studying Information and
Communication Management. The course takes ten weeks and usually starts in August. For
more information about the course contact Mgr. Hana Stárová.
10
Courses for Information and Communication Management (taught in English)
Winter semester
Modules
Credits for Erasmus students
Mathematical Foundations 1
6
Czech Language
6
Business Administration
6
Scientific Work 1 in
Macroeconomics
Hardware and Computer
Architecture
Operating Systems
6
6
6
Programming Paradigms 1
6
Introduction to Psychology
6
Summer semester
Modules
Credits for Erasmus student
Mathematical Foundations 2
6
Scientific Work 2
6
National Language and
Cultural Paradigms
Programming Paradigms 2
6
6
Financial Accounting
6
Information Marketing
6
Psychology of Communication
6
Argumentation and Rhetoric
6
Microeconomics
6
11
Socrates Erasmus Programme
The Faculty of Economics started the Socrates Erasmus Programme taught in English in
winter semester of the academic year 2006/2007. The programme was designed as a
general business study programme, in order to be able to involve students studying different
specialization. The students from partner universities can study following modules in the
bachelor or master study programmes. The doctoral study programmes are planned
individually according to the students´ preferences. Socrates Erasmus Students can also
attend the courses offered for students studying Information and Communication
Management.
Table of contents:
BACHELOR STUDY PROGRAMME: ...................................................................... 13
Winter semester: ................................................................................................................................................. 13
Business Administration................................................................................................................................... 13
Macroeconomics I ............................................................................................................................................ 14
Marketing ......................................................................................................................................................... 15
Marketing Communication............................................................................................................................... 16
Finances I – Banking ........................................................................................................................................ 17
Informatics I ..................................................................................................................................................... 18
Application Software ........................................................................................................................................ 19
Business Logistics ............................................................................................................................................ 20
Statistics I ......................................................................................................................................................... 21
Summer semester: ............................................................................................................................................... 22
Microeconomics I ............................................................................................................................................. 22
Finances II – Capital Markets .......................................................................................................................... 24
Financial Accounting ....................................................................................................................................... 25
Marketing Research .......................................................................................................................................... 26
Informatics II .................................................................................................................................................... 27
Statistics II ........................................................................................................................................................ 28
Human resources Management ........................................................................................................................ 29
MASTER STUDY PROGRAMME: ........................................................................... 30
Winter semester: ................................................................................................................................................. 30
Microeconomics II ........................................................................................................................................... 30
Economic policy ............................................................................................................................................... 31
Managerial Accounting .................................................................................................................................... 32
Financial Management I ................................................................................................................................... 34
Industrial Marketing ......................................................................................................................................... 35
Econometrics .................................................................................................................................................... 36
Information Systems ........................................................................................................................................ 37
Summer semester: ............................................................................................................................................... 38
Macroeconomics II ........................................................................................................................................... 38
Financial Management II.................................................................................................................................. 39
International Marketing .................................................................................................................................... 40
World Economy ............................................................................................................................................... 41
Public Finances ................................................................................................................................................ 42
Introduction to e-commerce ............................................................................................................................. 43
12
Winter semester
Business Administration
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The module Business Administration introduces basic problems and terms in business area. It includes 12
lectures and 12 seminars where the students can practise information about business activities. The first lecture
provides information on legal forms of businesses (Joint Stock Company, Limited Liability Company etc.) in
Germany, Poland and in the Czech Republic according to the commercial codes of individual countries. Other
lectures deal with the topics of organization structures, capital and property structure in connection with
depreciation methods, methods of valuation of inventories (LIFO, FIFO); in the lectures we also define cost and
benefits, break-even analysis, enterprise objectives, financing of the enterprise from internal and external
sources, investment activities and methods for valuation of investment and also some basic problems of human
resources management.
Outline - lectures:
1. Introduction to business, basic definition, vision, mission, strategy
2. Legal forms of business
3. Organisation structure 1
4. Organisation structure 2
5. Capital and property – depreciation, inventories
6. Cost and Benefits, Break-Even analysis
7. Enterprise objectives
8. Financing of the enterprise
9. Investment activities
10. Human resources management
11. Production management
12. Taxation
Outline – seminars:
1. Legal forms of business - comparison of Czech, Polish and German conditions
2. Organization structures - modification, creation of structure
3. Calculation of depreciation (straight-line method, accelerated method)
3. Calculation of inventories (FIFO, weighted average)
4. Calculation of break-even point
5. Balance sheet, cash flow calculations
6. Investment - interest rates calculation
7. Investment activities, valuation of investment (NPV, IRR etc.)
8. Investment activities, valuation of investment (NPV, IRR etc.)
9. Valuation of employees, job announcement and cover letter
10. Gross and net wage (personal income tax calculation)
11. Comparison of Czech, Polish and German wage systems
12. Presentation of final projects
Recommended literature:
Collis, D.J., Montgomery, C.A.: Corporate strategy: Resources and the Scope of the Firm, McGraw-Hill, 1997.
ISBN: 0256178941
13
Macroeconomics I
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to introduce a complex picture of macroeconomic theories focused on detailed
assumption of terminology and on attainment of economic issues analysis, orientation in economic a political
precautions of state institutions.
Outline – lectures/seminars:
1. Basic Concepts
- definition of Economics, module of Economics, wealth sources
- the scientific approach, the Economic laws; a historical perspective
2. The Market mechanism
- market, supply, demand, the market mechanism, cobweb model of supply and demand
- effect of a shift in supply and demand curves
3. Money and Price
- history of money; Fisher equation
- the evolution of money, functions of money, division of currencies, exchange rate
4. Inflation
- definitions of inflation, price indexes
- sources of inflation; costs, consequences of inflation
5. Unemployment
- definition, measuring unemployment
- three kinds of unemployment; economic interpretation of unemployment
- causes and impacts of unemployment
6. Measurement of macroeconomics output and income
- gross domestic product, net domestic product, national product – measures and
definition
- growth of GDP and investment
- output determination: the multiplier model
7. Business cycle
- essence and causes of business cycle
- impact of multiplier and accelerator principle
8. Dirigistic approach to the solution of economic problems
9. Liberal approach to the solution of economic problems
10. Banking and international finances
- history, significance and functions of banking
- demand for money, supply of money
- monetary policy
11. Fiscal policy
- basic definitions, automatic vs. discretionary policy
- multiplier effects (tax, expenditure multiplier)
- modern public finances (government budget)
12. World economy
- international trade
- European integration ; integration of Central and East European countries into the EU
13. The economics of developing countries
- economic characteristics of developing countries
- economic development in low-income countries
- world income distribution
Recommended literature:
Frank, R., Bernanke, B.: Principles of Economics, The McGraw-Hill Companies, Inc.
Mankiw, G.: Principles of Economics, The Dryden Press - Harcourt Brace College Publishers
Samuelson, P., Nordhaus, W.: Econonomics, McGraw-Hill Book Company Inc.
14
Marketing
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
Marketing remains one of the most difficult areas of analysis and decision making for the company. Marketing
problems do not exhibit the neat quantitative properties of many of the problems in production, accounting, or
finances. Psychological variables play a large role; marketing expenditures affect demand and costs
simultaneously; marketing plans shape and interact with other corporate plans. Marketing decisions must be
made in the face of insufficient information about processes that are dynamic, nonlinear, lagged, stochastic,
interactive, and downright difficult. However, this is not taken as a case for intuitive decision making; rather it
suggests the need for improved theoretical frameworks and sharper tools for analysis. The aim of the subject is to
introduce marketing concepts and also marketing philosophy to students .
Outline - lectures:
1. Introduction, basic marketing concepts, marketing philosophy
2. Marketing environment, micro and macro environment
3. Marketing research - marketing information system, SWOT analysis
4. Strategic marketing planning, marketing planning and budgeting, developing and implementing marketing
plans
5. Marketing strategies
6. Developing marketing strategies
7. Competitors, competitive analysis, competitive strategies
8. Consumer markets, consumer needs and shopping behaviour
9. Market segmentation and targeting
10. Marketing mix - product development and management: existing products, new products
11. Product-life cycle, new product development, services
12. Marketing mix - pricing
13. Marketing mix - marketing communication
14. Marketing mix - distribution, distribution channels
Outline – seminars:
1. Introduction, marketing concepts
2. Marketing environment, SWOT analysis
3. Consumers, market segmentation
4. Competition, competitive analysis
5. Positioning
6. Marketing strategy design
7. Project presentation, credits
Recommended literature:
KOTTLER, P.: Marketing Management, Analysis, planning and control. Prentice-Hall International.
CHURCHILL, G. A.,JR., PETER, J.P.: Marketing, Creating value for Customers, Irwin, 1995.
LANCASTER, G, MASSINGHAM, L.: Essentials of Marketing, The McGraw-Hill. 1995
15
Marketing Communication
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The module develops knowledge on and experience with the field of marketing communication as a
meaningful part of the marketing mix. In the seminars detailed topics about single components of the
communication mix will be presented so that students can get basic frameworks for their later work in
marketing communications settings.
Outline – lectures/seminars:
1. Marketing communication as a part of the marketing mix.
2. Marketing communication strategies
3. Planning of marketing communication
4. Calculation of costs for parts of the communication mix
5. Advertisement - a kind of communication
6. Testing of advertisements
7. Planning of advertisement media
8. Advertisement medium (press, television, radio, outdoor and others, evaluation of possibilities of
use)
9. Personal selling
10. Public Relations (Press Relations, , creating of image, publicity)
11. Sponsoring
12. Sales promotion
13. Direct marketing
14. Preparation and realisation of marketing communications case studies
Recommended literature:
BAKER, K., BAKER, S.: How to Promote, Publicize, and Advertise Your Growing Business. Wiley
a. Sons Publishing, London, 1995
BELCH, E.G.: Advertising and Promotion. Irvin McGraw-Hill, Boston, 2000
BELCH, E.G, BELCH, M.A. .: Introduction to Advertising and Promotion. Irvin McGraw-Hill,
Boston, 2000
JEFKINS, F.: Modern Marketing Communications. Blackie a. Sons, London, 1996
16
Finances I – Banking
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The goal of the module is to make students acquainted with the basic methods and theory of commercial
banking, to explain functions and monetary policies framework of central monetary authorities. In order to
achieve this goal, students are supposed to learn about the following notions:
Basic notions: money, capital funds, credit, loan. Commercial bank’s framework – the status and role of
commercial banks in economy, its functions, management of assets and liabilities, management of liquidity.
Central banking framework – the status and role of central monetary authorities in economy, monetary policies
of central banks. International payment means, international monetary system, major international monetary
institutions.
Outline – lectures/seminars:
1. Money, monetary standards, monetary aggregates, Czech monetary reforms
2. Bank, banking sector, and banking system
3. Bank balance sheet, principles of banking management, particular bank effectiveness indicators
4. Systematization of the banking product, loan, loan products (active banking products)
5. Alternative form of financial intermediaries (factoring, forfeiting, and leasing)
6. Deposit banking products
7. Banking payments instruments
8. Central bank
9. Czech National Bank
10. International Monetary Fund
11. World Bank and other international financial institutions
12. Direct banking and other new forms of banking
Recommended literature:
MICHAEL, G., KARMA, G., HADJIMICHALAKIS: Contemporary Money, Banking and Financial markets.
R.D. Irwin, Chicago, London etc. 1995
ADAMS A.: Investment. Graham and Orotman, London, Boston, Dorbrecht. 1992
SHETBY A.G., MC GRATH., F.J., HAMMERBACHER, I.M.: Finance.
R.D. Irwin, Boston, Ma.,1995
RODRÍGUEZ, K.: Principles of Finance. D.C. Heath and Company, Lexington, Ma., 1992
KAUFMANN, H.M.: Money and Banking. D.C. Heath and Company, Lexington, Ma., 1992
17
Informatics I
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
This module acquaints students with the basics of application of informatics in practice. It deals with
possibilities of application of computers and ICT in offices and management of organisations. Special
stress is given to understanding of merits of information. In the tutorials students develop their
practical opportunities in problem solving based on using of MS-Office and data communications.
The lectures will introduce the issues of processing data, information, understanding and knowledge
and infornation management.
Outline - lectures:
1. Introduction about information society
2. Information, data – their interpretation, language
3. Processing of data, information
4. Information and knowledge
5. History of computers and the Internet
6. Classification of computers
7. Communication
Outline - seminars:
1. – 7. Work with application software MicrosoftWord
8. - 14. Work with application software Microsoft Excel
Recommended literature:
LAUDON, K., LAUDON, J.: Management Information Systems - Managing the
Digital Firm, Prentice Hall, 2002, ISBN 0-13-061960-4.
CURTIS, G.: Business Information Systems, 3-rd ed., Addison-Wesley, 1999.
ALTER S.: Information System - a Management Perspective, 3-rd edition,
Addison-Wesley, 1999.
18
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is for students to understand the database system MS Access for the enterprise
applications, relations between tables, queries, forms and reports. Students will learn basic parts of
Visual Basic and will also design a project consisting of basic objects as formulas, reports and
relations between them.
Outline - lectures:
1. Basic objects of database, relations
2. Analysis of database
3. Creation of questions
4. Forms
5. Modules
6. Macros
7. Presentation on the Internet
Outline - seminars:
1.-3. Design of a case study database project
4.-6. Flow charts
7.-8. Design of basic objects of the case study database
9.-10. Design of relations, forms, reports
11.-12. Presentation of a case study database on web page
12.–13. Presentation of projects
Recommended literature:
CLARKE, S.: Information Systems Strategic Management: an Integrated
Approach, Routledge, 2001.
MINGERS, STOWELL: Information Systems: An Emerging Discipline,
McGraw-Hill, 1997.
Application Software
19
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to make students familiar with the management of material flow with respect to
pertinent information flow. A frame for this module is to get knowledge about terms in logistics and basic
experience in logistics management. The module also provides basics for further studies of logistics.
Outline – lectures:
1
2
3
4
5
6
7
8
9
Introducing into Logistics Issues
Basics of logistics, its evolution, definitions of logistics (macrologistics, micrologistics). The strategic
factors of a company’s competitiveness, logistics channel
Client Service
Definition of Client Service, Components of Client Service, consumer preferences, Product Life Cycle
The Process of Creating the Logistics System
Four stages constitution of a logistics system. Company’s objectives and corporate strategy. The
relation between the corporate strategy and the strategy of its logistics system.
Logistics system
Results of successful development of a logistics system. Logistics reengineering process and its results.
Relation among Logistics, Management and Marketing
Flexibility of logistics chain, active and passive elements, conflicting interests of corporate divisions.
Integrated logistics chains
Total supply chain concept, dimensions of logistics integration, concept of logistics cycle.
Types of logistics chain
Push and pull principle, traditional and new approach to manufacturing, the logistics typology of
production.
Decoupling Point
Definition of decoupling point, possible positions of the decoupling point in a supply chain, the
structure of distribution and trade in supply chains
Logistical technologies
Establishment of handling groups, KANBAN, Just in Time, Quick Response, Efficient Consumer
Response, centralization of warehouses and concentration of the warehouse network, combined
transport.
Recommended literature:
PERNICA, P., MOSOLF, J. H. Partnership in logistics. Praha: Radix, 2000
COYLE, J. J., BARDI, E. J., LANGLEY, C. J. The Management of Business Logistics. 5th ed. St. Paul: West
Publishing Company, 1992
Business Logistics
20
Statistics I
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to make students familiar with the basics of probability theory, probability
distributions and their application in hypothesis testing. Starting with elementary terms of probability and
random variables properties, the course is going on by main types of probability distributions and their usage in
hypothesis testing and parametric testing.
Outline – lectures/seminars:
1. Elementary descriptive statistics
2. Probability
3. Random variables
4. Discrete probability distributions
5. Continuous probability distributions
6. Random samples
7. Point estimators
8. Interval estimators
9. Hypothesis testing
10. Parametric testing
11. Nonparametric testing of distributions
Recommended literature:
Triola, M., F. : Elementary Statistics, Fourth Edition. The Benjamin/Cummings Publishing Company, Inc.,
Redwood City, California, 1989.
Lehman, E., L., Romano, J., P. : Testing Statistical Hypothesis, Third Edition. Springer Science+Business
Media, Inc., New York, 2005
Van Matre, J., G., Gilbreath, G., H. : Statistics for Business and Economics, Third Edition. Business
Publications, Inc., Illinois, 1987
Kazmier, L., J., Pohl, N., F. : Basic Statistics for Business and Economics, Second Edition. McGraw-Hill, Inc.,
New York, 1984.
21
Summer semester
Microeconomics I
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
The microeconomics analysis of economic issues allows the creation of an integrated picture leading to rational
behaviour of the microeconomic module in market environment.
Outline – lectures/seminars:
1. The theory of consumer choice
- utility, cardinalistic and ordinalistic approach - theory of utility, consumer optimum, indifference analysis.
- complements and substitutes; the market demand curve
2. The price elasticity of demand, the price elasticity of supply
- definitions; arc and point elasticity; - price elasticity of demand and the shapes of demand curves
3. Taxation and economic modules
- the level and types of taxation; progressive, proportional and regressive taxes
- equity, efficiency, and the optimal tax
4. The Firm
- types of firms; - proprietorship, unlimited liability, partnership, corporation, limited liability.
- alternative aims of the firm vs. the company maximizing the profit
5. Production
- production function; total, average, and marginal products
- law of diminishing returns; returns to scale; isoquant, isocost, optimum
6. Cost
- fixed, variable and total costs; average, average variable, average fixed and marginal costs
- technology optimum; the cost curves in short and long run (envelope curve)
7. The firm under perfect competition
- characteristics of perfect competition ; equilibrium for the perfectly competitive firm
- shutdown point - in short and long run; equilibrium of perfect competition market – consumer surplus
8. Imperfect competition
- characteristics of imperfect competition, types
- sources of imperfect competition (barriers to entry, cost advantages, heterogeneous products)
- equilibrium for the imperfectly competitive firm (quantity, price, profit)
- inefficiency of imperfect competition (deadweight-loss); antimonopoly regulation
9. Oligopoly and monopolistic competition
- characteristics; collusive oligopoly, oligopoly with price leader
- the shapes of demand curves; determining the profit maximizing output, price
- price leader;
characteristics of industry;
short and long run equilibrium
- comparing the effectiveness of perfect competition and monopolistic competition
10. Labour and labour union
- the factors of production
- the labour market under perfect competition, the demand for labour, supply of labour, individual supply for
labour, market supply of labour - the labour market under imperfect competition
- monopsony (determination of employment and wages)
- monopolization of supply for labour – unions as labour monopolies ; consequences of imperfect labour market
11. Poverty, inequality, and discrimination
- theory of distribution according to the theory of marginal productivity
- households income (types and structure)
- depicting income distributions: Lorrenz curve (Gini coefficient), reasons for unequal income
- policies to combat inequality
12. Capital market and Land market
- the supply of funds; savings, yields, interest rate, present and future value of yields,
- the downward-sloping demand curve for funds; the supply of funds
- equilibrium on capital market (short and long run); land and natural sources market – fixed supply
- land rents, economic rent seeking
22
13. Stock exchange and their functions
- stock exchange and corporate capital needs; regulation of the stock market; stock and bonds; loans
Recommended literature:
FRANK, R., BERNANKE, B.: Principles of Economics, The McGraw-Hill Companies, Inc.
MANKIW, G.: Principles of Economics, The Dryden Press - Harcourt Brace College Publishers
SAMUELSON, P., NORDHAUS, W.: Econonomics, McGraw-Hill Book Company Inc.
23
Finances II – Capital Markets
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The goal of the module is to develop understanding of financial markets function and basic trading tools being
used within financial markets. In order to achieve this goal, students are supposed to learn about the following
notions:
Financial market in general, classification of financial markets, participants of financial markets, basic trading
tools. Collective investments. Formation and management of investment portfolio, assessment of investment
portfolio’s profitability. Trading with financial derivatives.
Outline – lectures/seminars:
1. Balance of payment, theories of exchange rates
2. European monetary integration
3. Securities and securities markets
4. Issuing and depot trades
5. Capital markets - Stock exchange and street market
6. Shares and stock analyses
7. Bonds and bond analyses
8. Financial derivatives
9. Theory of portfolio, CAMP
10. Institutional investment
11. Czech institutional investment
12. Stock market regulation
Recommended literature:
MICHAEL, G., KARMA, G., HADJIMICHALAKIS: Contemporary Money, Banking and Financial markets.
R.D. Irwin, Chicago, London etc. 1995
ADAMS A.: Investment. Graham and Orotman, London, Boston, Dorbrecht. 1992
SHETBY A.G., MC GRATH., F.J., HAMMERBACHER, I.M.: Finance.
R.D. Irwin, Boston, Ma.,1995
RODRÍGUEZ, K.: Principles of Finance. D.C. Heath and Company, Lexington, Ma., 1992
KAUFMANN, H.M.: Money and Banking. D.C. Heath and Company, Lexington, Ma., 1992
24
Financial Accounting
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The subject aims to provide knowledge of basic accounting concepts, methods and tools of double-entry
accounting. Students are acquainted with the cycle of economic resources and its records by the double-entry
accounting framework. Students get knowledge of the importance of financial accounting as a base for the
enterprise practice, information and decision making, of financial statements ability, of bookkeeping and of
accounting systems. Introduction to the process of the international accounting harmonization and to national
accounting systems.
Outline - lectures:
1. The need for information (types of information); definition of accounting, history of accounting, accounting as
a language. Definition of the subject of accounting.
2. Introduction to European accounting and national accounting systems. American accounting system.
3. Definition and detailed structure of assets.
4. Fixed assets. Inventories.
5. Definition and detailed structure of liabilities. Temporary accounts of assets and liabilities.
6. Introduction to the balance sheet. Basic structure of the balance sheet. The basic concept of the balance sheet
as the financial statements.
7. Development of the balance sheet (balance sheet changes).
8. Basic accounting concepts (money measurement, entity, going concern, cost, dual-aspect, accounting period,
conservatism, realization, matching, consistency, materiality, accruals).
9. - 10. Subject (object) of accounting and methodical tools for its evidence. Proceeding of accounting work
performed within an accounting period. (accounting period, definition of double-entry, double-entry accounting
system, accounting documents, books of account, process of keeping accounts and types of accounts, accounting
entries and records, accounts in use).
11. Profit and loss account, income statement (types of expenditures, definition of expense, revenue, profit and
loss; vertical structure of the income statement report form according to the nature of expenses and revenues).
Relations between financial statements.
12. Trial balance (substantiality, form of it, types of errors revealed and not revealed by trial balance, differences
between trial balance and balance sheet).
13. Valuation methods (valuation methods based on historical cost and their application, depreciation – its
substance and application as a balance sheet item and as a profit and loss account item).
14. Inventory-taking.
Recommended literature:
ALEXANDER, D. – BRITTON, A. – JORISSEN, A. International Financial Reporting and Analysis. London:
Thomson Learning, 2003. 636 s. ISBN 1-86152-880-9
ANTHONY, R. N. – REECE, J. S. Accounting Principles. 7th ed. USA: Irwin, 1995. 686 s. ISBN 0-256-12401-9
2005 International Financial Reporting Standards Bound Volume. London: IASC, 2005. ISBN 1-904230-79-2
Miller European Accounting Guide. 3. ed. USA: Harcourt Brace, 1998. 1683 s. ISBN 0-15-06077-9
NOBES, CH. – PARKER, R. Comparative International Accounting. 6. ed. Great Britain: Prentice Hall, 2000.
534 s. ISBN 0-273-64602-8
RADEBAUGH, L. H. – SIDNEY, J. G. International Accounting and Multinational Enterprises. 4th ed. USA:
John Wiley, 1997. 696 s. ISBN 0-471-05601-4
American Institute of Certified Public Accountants. [Online]. <http://www.aicpa.org>
Deloitte Touche Tohmatsu. [Online]. <http://www.iasplus.com>
European Accounting Association. [Online]. <http://www.eaa-online.org>
Financial Accounting Standards Board. [Online]. <http://www.fasb.org>
International Accounting Standards Board. [Online]. <http://www.iasb.org.uk>
International Accounting Standards Committee. [Online]. <http://www.iasc.org.uk>.
International Federation of Accountants. [Online]. <http://www.ifac.org>.
PricewaterhousCoopers. [Online]. <http://www.pwc.com>
25
Marketing Research
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
The aim of the module is to introduce the role and need of marketing research, to define types and concepts of
marketing research, data sources, to describe marketing research process, methods of data collection, sampling
and data analysis.
Outline - lectures:
1. Introduction, need for marketing research, aims of the marketing research
2. Marketing information system, data-based marketing
3. Marketing research strategies
4. Primary and secondary research, classification of data
5. Quantitative and qualitative research, methods used
6. Marketing research process, methodological approach
7. Sampling
8. Methods of data collection
9. Questionnaire design
10. Questions and scaling techniques
11. Data processing and editing
12. Methods of data analysis
13. Marketing a research report
14. Applied marketing research
Outline – seminars:
1. Introduction, need for marketing research
2. Marketing research agencies, ICC/ESOMAR, client-researcher relationship
3. Case study
4. Data sources - searching for data (library, the Internet)
5. Secondary data analysis and presentation
6. Secondary data in research projects
7. Research process design
8. Methods of data collection - case study
9. Questionnaire design
10. Sampling, size of a sample
11. Data processing
12. Data analysis
13. Applied marketing research - video
14. Project presentation, credits
Recommended literature:
MOUTINHO,L.,EVANS,M.: Applied Marketing Research, Addison-Westley,1992
SANDERS,M.,LEWIS,P.,THORNHILL,A.:Research Methods for Business Students, Pitman Publishing,1997
CONPEY,E.:Marketing at the Internet, Prentice Hall,2001
KUMAR,V.:International Marketing Research, Prentice Hall, 2001
MALHOTVA,N.K.,NARESH: Marketing Research and SPSS, Prentice Hall,1999
MALHOTVA,N.K.,BIRKS,D.: Marketing Research, European Edition,Addison-Westley Ltd.2000
26
Informatics II
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The topics of the module are based on understanding the essentials of information (data, information,
knowledge) and their roles in the economic system, including information systems and the management of
information systems. Students also get information about basic principles of information and communication
technologies and their applications. They are acquainted with information resources and services. In the practical
part students evolve their ability in application of PC’s in managerial practice based on MS-Office Professional,
multimedia technologies and computer communications.
The lectures will introduce personal computers, the Internet, network topology, electronic commerce, security
and privacy issuses.
Outline – lectures:
1.-2. Hardware components of computers
3.-4. Future trends in hw components of computers
5.-6. Data structure, database
7.-8. Communication of computers, networks, TCP/IP protocol
9.-10. Internet, HTML protocol, searching on the Internet
11.-12. Electronic commerce
13.-14. Security on the Internet
Outline – seminars:
1.-7. Work with software application Microsoft Access
8.-9. Work with software application Microsoft PowerPoint
10.-14. Design of web pages in HTML
Recommended literature:
D. GILLY: Unix in a Nutshell. O'Reilly Associates 1996
P. CHECKLAND, HOLWELL: Information, systems and information systems. John
Wiley, 1998
27
Statistics II
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
The aim of this module is to make students familiar with the dependency examination of metric and categorical
variables (regression, correlation, contingency tables); furthermore, students are supposed to learn the basic
techniques of the time series analysis and the statistical comparison (index, differences).
Outline – lectures/seminars:
1. Analysis of variance (ANOVA)
2. Numerical variables correlation
3. Regression analysis
4. Correlation analysis
5. Time series characteristics
6. Time series - trend component and its description methods
7. Time series - seasonal and random component and their description
8. Time series extrapolation
9. Time series - seasonal and random component and their description
10. Time series extrapolation
11. Individual index numbers
12. Aggregate index numbers
Recommended literature:
TRIOLA, M., F. : Elementary Statistics, Fourth Edition. The Benjamin/Cummings Publishing Company, Inc.,
Redwood City, California, 1989.
LEHMAN, E., L., ROMANO, J., P. : Testing Statistical Hypothesis, Third Edition. Springer Science+Business
Media, Inc., New York, 2005
VAN MATRE, J., G., GILBREATH, G., H. : Statistics for Business and Economics, Third Edition. Business
Publications, Inc., Illinois, 1987
KAZMIER, L., J., POHL, N., F. : Basic Statistics for Business and Economics, Second Edition. McGraw-Hill,
Inc., New York, 1984.
28
Human Resources Management
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
The aim of this module is to make students able to analyse the framework of human resources in various
organizations. Students are to be made familiar with the function of human resources’ in general. The following
terms will be communicated to students: the employee characteristics important for the working actitivities,
organisation and work of managers, leading methods in different organisation structures, function structures in
the project management, various techniques and procedures being used by the personnel managers in modern
organizations.
Outline – lectures:
1. Introduction, organization of the subject.
2. Personnel and Human Resources Management – functions, activities, objectives.
3. Human Resources Planning
4. Job Analysis
5. Recruitment
6. Selection and Placement
7. Performance Appraisal
8. Total Compensation
9. Performance-based Pay Systems
10. Indirect Compensation
11. Training and Development
12. Quality of Work Life and Productivity
13. Review of the subject
14. Written exam – test
Recommended literature:
BEARDWELL, I., HOLDEN, L. Human Resource Management London: Pitman Publishing, 1994. ISBN 0-27360244-6
IVANOVIC, A., COLLIN, P. H. Dictionary of human resources & personnel management 2nd ed. Teddington :
Peter Collin, 1997. ISBN: 0-948549-79-3
LEGGE, K. Human resource management: Rhetorics and realities 1st ed., London: Macmillan, 1995. ISBN 0333-57248-3
McNAMARA, C. Human Resource Management On-line < http://www.managementhelp.org/
hr_mgmnt/hr_mgmnt.htm>, cit. 5. 6. 2006
SCHULER, R. S., HUBER, V. L. Personnel and Human Resource Management 4th ed. St. Paul : West
Publishing Company, 1990. ISBN 0-314-56277-X
SPARROW, P., HILTROP, J. M. European Human Resource Management in Transition New York: Prentice
Hall, 1994. ISBN 0-13-202095-5
29
Master Study Programme
Winter semester
Microeconomics II
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
Microeconomics is a set of theories, helping us to understand processes by which scarce resources are allocated
among alternative uses. Microeconomics explains the role of prices and markets in this process and brings clarity
to economic agents´ behaviour. The lectures of Microeconomics II are oriented on Theory of Firm and Industrial
Organisation, Consumer and General Equilibrium Theory. The module is oriented on standard analytic methods.
The main goal is to provide fundamental instruments of microeconomic analysis.
Outline – lectures/seminars:
1. Behaviour of Consumer and Demand
2. Determination of Demand
3. Uncertainty
4. Production
5. Costs and Revenues of Firm
6. Model of Perfect Competition
7. Characteristics of Monopoly
8. Oligopoly
9. Monopolistic Competition
10. Alternative Aims of Firm
11. Labour Market
12. Capital Market
13. General Equilibrium
14. Market Failure and Microeconomics Policy
Recommended literature:
GRAVELLE, H., REES, R.: Microeconomics, Longman.
VARIAN H. R.: Intermediate Microeconomics, A Modern Approach, Norton.
LAIDLER D., ESTRIN S.: Introduction to Microeconomics, Philip Allan.
FRANK R.: Microeconomics and behaviour, Mc Graw Hill.
30
Economic Policy
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
The basic idea of the module is to show the interconnection between theoretical macroeconomic models and
their applications in practical economic policy during the 20th century. Attention is paid to specific
developments in the economic policy of the 1970s and 1980s, including those of Ronald Reagan and Margaret
Thatcher. The effectiveness of monetary and anti/inflationary policy is illustrated by the increasing role of the
central banks in the economic policy of the 1990s. The final part discusses problems in the economic policy of
the transition countries of Central Europe.
Outline – lectures:
1. Review of Basic Concepts. Pros and Cons of Economic Policy.
2. Political Framework. Political Failures. Political Business Cycles.
3. Macro Framework. Macroeconomic Management and its Relations to Integration.
4. Micro Framework. Market Failures.
5. Economic Policies of Thatcher (UK) and Reagan (USA) Governments in 1980s.
6. Inflation Targeting in 1990s.
7. Czech Economic Development After 1989.
Recommended literature:
ACOCELLA, N.: The Foundations of Economic Policy: Values & Techniques.
BURDA M. - WYPLOSZ: Macroeconomics, a European Text. Oxford University Press.
DORNBUSCH R., FISCHER S.: Macroeconomics, McGraw-Hill Book Company Inc.
31
Managerial Accounting
General Information:
Module structure
(lectures/seminars per week):
Specification:
Credits: 6
The module of Managerial Accounting provides students with an understanding and appreciation of the strengths
and limitations of an organization’s accounting system. Managerial Accounting will expose students to many
different organizational settings. They will gain an understanding of the different roles of managers within
organizations and will see the importance of cross-functional skills to achieving a successful managerial career.
Students will understand the underlying importance of accounting information within an organization, as it is
consistently related to the dichotomy of planning and control decisions.
Outline - lectures:
1. Introduction to Managerial Accounting. What is a Company? Goals of the Company. Financial vs. Managerial
Accounting. The Evolution and Developments of Managerial Accounting. Definition and Main Tasks of the
Managerial Accounting. Ethics and Managerial Accounting.
2. Controlling Organizations. Single-Circuit System and Two-Circuit System.
3. The Economy and the Nature of Costs. Difference between Concept of Costs in Financial and Managerial
Accounting. Sunk and Opportunity Costs. A Nonlinear Cost Curve.
4. Cost Classification and its Importance – Cost Types Classification, Classification by Purpose, Costing
Classification, Variable and Fixed Costs. Structure of Standard Costing Model.
5. Variable and Fixed Costs – Continuation. Capacity and Free Fixed Costs – Relation between Free Fixed Costs
and Exploited Fixed Costs. Estimating Variable and Fixed Costs.
6. Product Planning Decisions – Cost-Volume-Profit Analysis. General Economic Model. Breakeven Analysis –
Total Costs Approach, Contribution Margin Approach, Profit Approach.
7. Estimating Product Costs – Costing. Costing System – Preliminary Costing, Final Costing, Standard Costing,
Calculation Costing, Planned Costing, Operational Costing. Single Cost Driver. Method of Tracing Indirect
Product Costs Using a Single Cost Driver.
8. Costing – Continuation. Costing by Simple Dividing, Costing by Dividing with Index Numbers, Surcharge
Costing.
9. Variable Costing, Activity-Based Costing (ABC) - Comparison with Absorption (Full) Costing. Advantages
and Dangers of Variable Costing.
10. Costing System – Practical Example.
11. Role of Accounting within Decentralized Organizations. Responsibility Centres. Responsibility Accounting.
12. Standard Costs and Variance Analysis. Direct Labour and Direct Materials Variances. Overhead Standard
Costs and Variances.
13. – 14. Budgets and Budgeting. Budgeting System. Common features of Budgets. Static vs. Flexible Budgets.
Incremental vs. Zero-Base Budgets. Comprehensive Master Budget Illustration. Budgeted Financial Statements
– Pro Forma Statements.
Outline – seminars:
1. Repeating of Financial Accounting. Asset and Capital Structure. Balance Sheet. Income Statement.
2.-3. Financial vs. Managerial Accounting. Single-Circuit System and Two-Circuit System.
4. The Economy. Cost Classification and its Importance.
5. Cost Classification and its Importance – Continuation.
6. Fixed and Variable Cost. Cost Models.
7. Breakeven Point.
8. Capacity and Free Fixed Costs. Costing.
9. Repeating – Written Test.
10. Costing Techniques.
11. Costing Techniques. Job-Order Costing.
12. Costing System.
13. Budgets and Budgeting.
14. Written Test.
32
Recommended literature:
MORSE, D.C., ZIMMERMAN, J.L. Managerial Accounting. 1st ed., Boston: McGraw-Hill, 1997. ISBN 0-25618955-2.
RAYBURN, L.G. Cost Accounting – Using a Cost Management Approach. 6th ed., Boston: Richard D. IRWIN,
Inc. ISBN 0-256-08649-4.
HORNGREN, CH.T., SUNDEM, G.L., STRATTON,W.O. Introduction to Management Accounting. 11th ed.,
New Jersey: Prentice-Hall, Inc. ISBN 013-977778-4.
33
Financial Management I
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The goal of the module is to make the students acquainted with the basic methods and understanding of firm’s
financial management. In order to achieve this goal, students will be provided with clarifications of the following
more detailed notions:
- the separate phases of financial decision making,
- the influence of risk upon decision, the risk measuring and possible ways of risk eliminating;
- the time factor and its influence upon the time value of money;
- the methods of financial statement analysis and methods serving for evaluating of the firm financial stability
(position);
- the possibilities of firm financing by sources of its own and borrowed funds, including the calculation of their
costs;
- the estimating of the capital investment efficiency and return.
Outline - lectures:
1. Introduction to Financial Management. The Key Role of Finances and General Nature of Financial
Management. The Genesis and Developments of Financial Management.
2. The Environment of Financial Decision-Making: the Income Tax Act and Other Legal Issues, Financial
System.
3. Cash Flows. Statement of Sources and Uses of Funds. Computational Methods.
4. The Time Value of Money: Formulas and Methods of Comparing Cash Flows that Occur over Time –
Compound- and Simple-Interest Calculations.
5. The Risk in Financial Decisions - Enterprise Risk, Financial Risk, Investment Risk. Measures of Risk –
Probability, Mean Value, Standard Deviation, Coefficient of Variation.
6. Protection against the Risk – Offensive and Defensive Methods. Currency Risk as a Special Type of Market
Risk.
7. Portfolio Risk and Return. Diversification Concept - Correlation, Portfolio Standard Deviation.
8. Capital and Asset Structure - Factors Affecting the Structure. The Survey of Basic Methods of Financing and
Their Major Sources.
9. Basic Characteristics of Different Types of Financing Sources and the Cost of Capital. Fund Sources that are
internal to the Firm. Dividend Policy.
10. Funds Sources that are External to the Firm: Leasing. Factoring. Forfeiting. Venture Capital.
11. Fundamentals of Capital Budgeting – Capital Project Analysis. Planning of Cash Flow from an Investment.
12. Capital Project Analysis – Continuation. Basic Evaluation Techniques of Capital Project Analysis – Static
and Dynamic Methods. Example Problems.
13. Financial Statement Analysis: Leverage Ratios, Liquidity Ratios, Activity Ratios, Profitability ratios.
Market-Value Ratios, Du Pont System. The Uses of Financial Ratios.
14. Financial Statement Analysis – Continuation: Evaluating of Company’s Performance and Quality.
Outline – seminars:
1. Repeating of Financial Accounting.
2. Depreciation for Tax and Accounting Purposes.
3. Cash Flow Statement.
4. Time Value of Money.
5. Time Value of Money.
6. Time Value of Money.
7. Written Test.
Recommended literature:
BREALEY, R. A., MYERS, S. C. Principles of Corporate Finance. 6th ed.:McGraw-Hill Companies, Inc., New
York, 2000. ISBN 0-07-290999-4.
BLAHA, Z. Řízení rizika a finanční inženýrství – Risk Management and Financial Engineering. 1. vyd.:
Management Press, Praha 2004. ISBN 80-7261-113-5.
SCHALL, L. D., HALEY, CH. W. Introduction to Financial Management. 7th ed.: McGraw-Hill Companies,
Inc., New York, 2000. ISBN 0-07-055117-0.
34
Industrial Marketing
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The scope of the module is to develop the necessary knowledge and skills, which will help students
to analyze and operate in industrial marketing settings. The module uses and builds on earlier studies in
Marketing and Strategic Marketing.
The module consists of a series of lectures and tutorials but the latter part of the module, in particular, deals with
applying concepts and techniques to industrial marketing case studies.
Outline – lectures/seminars:
1. Introduction to business marketing
2. The nature of demand in business markets
3. Business buyer behaviour
4. Business purchasing
5. Marketing research and market information system
6. Segmentation of business markets
7. Competition and cooperation in business markets
8. Product decisions and strategy
9. Business services
10. Business pricing
11. Distribution and channel relations
12. Business marketing communication
13. Evaluation and control
14. Business marketing strategy, planning, and implementation
Recommended literature:
CHISNALL, PETER M.: Strategic Industrial Marketing, Prentice Hall
HUTT M. D.: Business Marketing Management, The Dryden Press 1992
GROSS A. C., BANTING P. M., MEREDITH L. N., FORD I. D.: Business Marketing, Houghton Mifflin
Company 1993
35
Econometrics
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to make students familiar with two main topics of econometrics theory and methods.
The first one is linear programming, where we lecture on the both basic methods, i.e. one phase and two phase
simplex method, and also duality theory with their practical application (transportation problem, portfolio
optimization etc). The second one is a classical linear regression model ant the least-squares method. Here we go
through the properties of the estimators and statistical inference in the model to generalized regression model.
Outline - lectures:
1. Introduction, subjects and classification of operational research disciplines
2. Economic and mathematical model of linear programming
3. Graphic solution of two dimensional linear programming
4. One phase simplex method
5. Two phase simplex method
6. Generalized form of simplex table, possible calculation endings of linear programming problems
7. Transportation problem, portfolio optimization
8. Duality theory
9. Classical linear regression model, the least-squares method
10. Properties of least-squares estimators for small and big samples
11. Statistical inference in the classical linear regression model
12. Generalized linear regression model
Recommended literature:
BERNDT, E.R.: The Practice of Econometrics: Classic and Contemporary. Addison-Wesley, New York 1991.
HILLIER, F.S., LIEBERMAN,G.J.: Introduction to Operations Research. Third Edition. Holden-Day, San
Francisco 1979.
36
Information Systems
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to introduce students of Business Administration program to the field of information
systems (as general) and computer based information systems. Students learn basic principles of the system
analysis and the information system design. They are also getting acquainted with problems of development,
exploitation and maintenance of the business information system based on modern information and
communication technologies.
Outline - lectures:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Managing the digital firm,
IS in the enterprise
Information systems, organization, management, strategy
Digital firm - e-business and e-commerce
IT infrastructure and platforms
Managing data resources
Telecommunication, networks and the Internet
Security and control
Enterprise applications and business process integration
Managing knowledge in the digital firm
Enhancing decision making for the digital firm
Redesigning the organization with information systems
Outline - seminars:
1.–2. Analyzing business processes for an enterprise system
3.-5. Redesign of business processes – project work
6.
Presentation
Recommended literature:
LAUDON, K.C., LAUDON, J.P.: Management Information Systems – Managing the Digital Firm, 9-th edition,
Prentice Hall, 2006, ISBN 0-13-153841-1
ALTER S.: Information Systems, A Management Perspective, Addison Wesley, 1999, ISBN 0-201-35109-9
37
Summer semester
Macroeconomics II
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to introduce students into the study of advanced macroeconomics. Competing theories
of economic cycles, inflation, unemployment, investments and consumption are presented and discussed as well
as monetary and fiscal policy. Mathematical models are broadly used, with special attention to both their
interpretation and mathematical methods for development of those models.
Outline – lectures/seminars:
1. Determination of Equilibrium Production in 2-Sectors-Model
2. Determination of Equilibrium Production in 3-Sectors-Model
3. Model IS-LM, Fiscal and Monetary Policy
4.Open Economy and Determination of Equilibrium production
5. Mundell-Fleming-Model
6. Aggregate Demand
7. Aggregate Supply models: Keynes, Friedman and Lucas, Real business cycle theory, New keynesian theory
8. Unemployment
9. Philips Curves
10. Inflation
11. Growth
Recommended literature:
Burda M. - Wyplosz: Macroeconomics, a European Text. Oxford University Press.
Barro R.: Macroeconomics, Jon Wiley & Sons Inc.
Dornbusch R., Fischer S.: Macroeconomics, McGraw-Hill Book Company Inc.
38
Financial Management II
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The objective of the module is to make the students acquainted with the controlling system as a support for
management which provides the controlling of working capital, of short-term liquidity surpluses and deficits,
and the investment controlling. Another aim of the module is to give the students knowledge of financial
planning issues, of the annual and long-term financial plans performance, and the financial results evaluating.
Outline - lectures:
1. Leasing:
-types of leases, defining a lease for tax and accounting purposes,
-leasing in the Czech Republic and international leasing, considerations in the leasing decisions.
2. Short-Term Financing:
-major sources of short-term financing, trade credit, bank loans - current account credit, revolving credit,
-factoring.
3. Financial Controlling:
-the importance of financial controlling and its functions, control within an organization,
-the working capital controlling, inventory and accounts receivable management,
-cash management and managing cash balances.
4. Financial Forecasting and Planning:
-financial policy, financial planning principles,
-financial planning models, annual financial plan,
-the content of comprehensive financial plan, long-term financial planning,
-sales forecasting, financial control.
5. Company Evaluating and Evaluating Methods:
-the importance of the company evaluating, evaluating procedure,
-valuation methods, data and sources of information for evaluating.
6. Holding Companies, Mergers, Consolidations, and Divestitures:
-merger procedure, merger trends, reason for merger,
-analyzing an acquisition, accounting treatment of mergers.
7. Financial Crisis Management:
-the Czech Bankruptcy and Composition Act,
-bankruptcy proceedings, bankruptcy forecasting - Altman’s Z-Score and other methods,
-case studies
Outline – seminars:
1. Current Account Credit.
2. Leasing.
3. Discount. Comparison of Major Sources of Financing.
4. Measures of Risk.
5. Written Test.
6. Financial Statement Analysis.
7. Financial Statement Analysis.
8. Financial Statement Analysis.
9. Capital Project Analysis – Estimating of Cash Flow from an Investment, Net Present Value, Profitability
Index.
10. Capital Project Analysis – Internal Rate of Return, Payback Period Analysis.
11. Written Test.
12. Cost of Capital.
13. Working Capital Management - Cash Management.
14. Working Capital Management – Inventory Management.
Recommended literature:
BREALEY, R. A., MYERS, S. C. Principles of Corporate Finance. 6th ed.:McGraw-Hill Companies, Inc., New
York, 2000. ISBN 0-07-290999-4.
BLAHA, Z. Řízení rizika a finanční inženýrství – Risk Management and Financial Engineering. 1. vyd.:
Management Press, Praha 2004. ISBN 80-7261-113-5.
39
International Marketing
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
International marketing covers marketing activities performed across national boundaries. The planning and
control of such marketing activities can be significantly different from marketing within national boundaries.
This module looks closely at the unique features of international marketing and at the adjustment of marketing
mixes when crossing national boundaries. The objective of the module is to make students familiar with the
international activities, which are based on marketing processes and activities.
The module consists of lectures only.
Outline - lectures:
1. Bases of international marketing
2. The international environment- economic forces
3. The international environment: socio- cultural, political- legal forces
4. Competition and economic integration
5. Export market selection
6. Information for international marketing decisions
7. Export market entry strategy
8. Export entry modes
9. Non- export entry modes
10. Product decisions
11. Pricing decisions
12. Financing and methods of payment
13. Promotion and market communications
14. Organization of international marketing activities
Recommended literature:
ALBAUM G., STRANDSKOV J., DUERR E., DOWD L.:
International Marketing and Export Management, Addison Wesley 1994
TERPSTRA V.: International Marketing. The Dryden Press 1978
BALL D. A., MCCULLOCH W. H.: International Business, Irwin/McGraw-Hill 1996
40
World Economy
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
Changes and trends in the world economy, globalization, international institutions, economic centres and global
problems.
Outline - lectures:
1. Evolution of the World Economy (WE)
2. Countries and regions in the WE
3. Challenges of globalization
4. International economic relations and institutions
5. International trade and capital flows
6. Global economic inequality and indebtedness
7. Offshoring, outsourcing and migration
8. Regional financial crises and turbulences
9. Exchange rate regimes
10. Energy crisis and oil prices
11. U. S. versus Euro-area economies
12. Economic development of Japan, China and India
13. Problems of managing the WE
Recommended literature:
Cohen, B. J.: The Future of Money. Princeton and Oxford, Princeton University Press 2004
Feldstein, M. ed.: International Capital Flows. Chicago and London, Chicago University Press 1999
Globalisation and its critics – A survey of globalisation. The Economist, September 20, 2003
IMF at 60 (Features and Development Issues). Finance and Development, vol. 41, no. 3, September 20, 2003
Jonáš, J.: International Monetary Fund after the Financial Crises of the 1990s. Prague Economic Papers 1/2001,
p. 51 – 65
Lovins, A.: Energy Policy; Old problems, new solutions. WordLink, July/August 2002, p. 43 – 47
Nogués, J. I.: Agricultural Protectionism, Debt Problems and the Doha Round, Development Outreach, July
2003, p. 13 –16
Ortiz, G.: Recent Emerging Market Crises: What Have We Learned? Bank for International Settlements – Per
Jacobson Foundation, Basel 2003
Redrafting The Reform Agenda (Features and Inequality). Finance and Development, vol 40, no 3., September
2003, p. 9 –23, 46 – 47
Saggi, K.: Trade, Foreign Direct Investment and International Technology Transfer: A Survey. The World Bank
Research Observer, vol. 17, no 2, Fall 2002, p. 191 – 235
Sutherland, P.D.: Managing the International Economy in the Age of Globalisation. Washington, The Per
Jacobson Foundation 1998
The Dragon and the Eagle – A survey of the world economy. The Economist, October 2, 2004
The Innovation Economy. Business Week, October 11, 2004, p. 56 –118
The Shape of Global Integration. Finance and Development, vol. 39, no. 1, March 2002, p. 4 – 16
The Sources of Economic Growth in OECD Countries. Paris, OECD, 2003
Wilson, J.S.: Trade Facilitation, WTO Rules and Capacity Building. Development Outreach, World Bank
Institute, July 2003, p. 26 - 28
41
Public Finances
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to make students familiar with the reasons of the existence of public finances in mixed
economy. Students are supposed to gain the knowledge concerning public budgets, public revenues and
expenditures. The following terms are to be communicated: state budget balance, surplus and deficit, public
debts, fiscal and budget policy framework.
Outline - lectures:
1. Public Finances and Public Sector in the Mixed Economies
2. Economic Analysis of Public Goods
3. Public Choice
4. Public Expenditures, Public Projects and Programmes
5. Analysis of Public Expenditures Effectiveness
6. Public Revenues, Taxes
7. Theory of Taxation – Introduction
8. Social Security
9. Fiscal Federalism, Local Finances
10. Budgetary and Fiscal Policies
11. Short-Term and Long-Term Budgetary Imbalance
12. Current Trends in Public Finances
13. Public Finances System in the Czech Republic
Recommended literature:
BAILEY, S. J. Public Sector Economics - Theory, Policy and Practice, Basingstoke: MacMillan, 1995. ISBN 0333-59802-4.
BARR, N. The Economics of the Welfare State Oxford: Oxford University Press, 2004. ISBN 0-19-926497-X
BROWN, C. V., JACKSON, P. M. Public Sector Economics (4th Edition). Oxford (UK): Blackwell, 1990. ISBN
0-631-16207-9.
BUCHANAN, J. M. The Collected Works On-line: <http://www.econlib.org/library>, cit. 5. 6. 2006
ROSEN, H. S. Public Finance 5th ed., Boston: McGraw-Hill, 1999. ISBN 0-256-17329-X
STIGLITZ, J. E Economics of the Public Sector, 3. ed., New York: W. W. Norton & Company, 2000. ISBN 0393-96651-8
42
Introduction to E-commerce
General Information:
Module structure
(lectures/seminars):
Specification:
Credits: 6
The aim of this module is to make students familiar with basics of e-commerce. Students are acquainted with the
major elements of e-commerce projects, different sample solutions to selected applications and lines of ecommerce products being offered by famous suppliers. Students are also involved to participate in solving case
studies. Students are especially encouraged to learn about B2B and B2C.
Outline - lectures:
1. E-commerce influence on an organization
2. E-commerce strategy
3. E -commerce models
4. E -commerce benefits assessment, metrics
5. E -commerce support – SCM, CRM
6. Advertising, marketing by means of the Internet
7. E -documents in a company
8. E -security
9. Legislation and e-payments division
10. E-commerce trends
11. E-commerce projects conduction
12. E-learning
13. Reserve
Recommended literature:
TREESE, W., STEWARD, L.: Designing Systems for Internet Commerce, Addison Wesley, 1998.
43
Faculty facilities
Library
The Library of the Technical University of Liberec is located in the “H” building of the
Technical University of Liberec campus. There is an extensive fund of books, journals,
textbooks, theses etc. at the library, also in English, French and German languages. Study
rooms with university network computers are available.
Accommodation
There are six blocks of student Halls of Residence in the Technical University of Liberec
campus. Students usually live in two-bedroom flats; each bedroom has two beds. However,
in some cases students can have a single bedroom. Prices of accommodation can vary
according to the type of the room. For more information look at http://koleje.vslib.cz.
Canteens
Student’s canteens are situated both in the area of dormitories and in the area of the
faculties. There is also a snack bar in the “H” building of the University.
Leisure activities
Student lifestyle at the Technical University is enhanced by the sport-oriented city of Liberec,
by the interesting countryside of the border area, and by the care the University takes to
create optimum conditions for students.
Sporting areas have been built in a close proximity to the Halls of Residence catering for
athletics, volleyball and football. There are also tennis courts, a physical training hall with
equipment for body-building and a sauna. Small gymnasiums in five buildings of the Halls of
Residence are equipped for gymnastics, aerobics, yoga, karate, table-tennis and other
sporting activities. Another training hall and an auditorium with a 14-metre-high man-made
training wall for climbing are also available.
The inclusion of physical education in the study programme of the University is part of an
effort to balance out the burden of the study and to create a more holistic approach to the
academic life. Students are offered a variety of sporting activities, such as swimming,
volleyball, basketball, football, softball, yoga, tennis, karate, badminton, climbing, bodybuilding, cycling and other activities according to their interest and availability.
44
Summer training courses take place, according to students´choice, in the Jizera Mountains,
in Dolánky near Turnov, in Liberec and at Bražež. Such activities are available as tennis,
hiking, windsurfing, karate, orienteering, climbing, basketball, volleyball and yoga. Winter
courses, devoted to downhill and cross-country skiing take place in the mountain centres like
Bedřichov, Pec pod Sněžkou and Rokytnice nad Jizerou.
Student’s residence above the water reservoir
Ropes courses near Liberec
45
Information about Liberec
Liberec was first mentioned in the year 1352. A major growth of the town was during the
period important for the textile production. In the centre of the town is a historic town zone.
Hundreds of houses and villas from the 19th century and early 20th century determine the
architecture of the town. Liberec is an important industrial as well as tourist and skiing centre
of the region. The unique location of the town has contributed to the decision that FIS Nordic
World Ski Championships will be held in Liberec in 2009. Athletes will contest for 20 sets of
medals in 3 disciplines – cross country skiing, ski jumping and the Nordic combined between
February, 18th and March, 1st in the Vesec and Ještěd venues.
The Town Hall
The neo-Renaissance town hall was built between 1888 and 1893 according to the designs
of Viennese architect Franz Neumann. Its 65 metre-high tower topped with a sculpture of a
knight, splendid facade decoration and valuable windowpanes catch the eye immediately.
The magnificent stained-glass windows and beautiful ceremonial hall are also worthy of note,
all of them prime examples of absolute precision. Despite its age, the town hall remains one
of the most valuable jewels in the architectural crown of the city at the foot of Ještěd
Mountain.
The Zoological Garden
The zoological garden in Liberec is a very famous place not only in Liberec but also in the
whole region of Northern Bohemia. Having expanded systematically since first created in
1904, the Liberec Zoological Garden now stretches across an area of 15 hectares. Visitors
can see 170 species of fauna, the most remarkable of which are white tigers, Rothschild
giraffes, snow leopards, lion macaques, and Humboldt penguins.
The Babylon Centre
The Babylon centre is one of the most important tourist attractions in the town. It is a large
covered complex covering the site of an old factory, unique for the location for family leisure
time. The main tourist attraction of the centre is the Aqua Park - the first one in the Czech
Republic. It has a system of swimming pools, water slides and other attractions, saunas,
massage centres, steam baths, whirlpools, caves, aquariums, and an outdoor terrace.
The visitors can visit the Shopping Centre with more than 60 shops and also The Business
Centre. It offers services for companies and organises various special training sessions,
presentations of companies, seminars and also congresses.
46
Ještěd
Few other towns can boast a dominant feature such as the Ještěd Ridge with its 1,012
metre-high peak of the same name crowned with a remarkable tower containing a mountain
hotel, visible from near and far. For decades this peak has attracted the attention of tourists
and holidaymakers, as corroborated by the fact that in as early as 1844 our predecessors
erected the first tourist chalet there. Ještěd serves not only as the town’s emblem; it also
provides a splendid view of the area, ideal conditions for hang-gliding enthusiasts in the
summer, and a range of well-maintained downhill runs, ski lifts and ski jumps for fans of
skiing and races staged regularly in the winter. The building, the design of which won the
architect Karel Hubáček the prestigious Perret Prize for Architecture in 1969, serves as a
hotel and a transmission facility.
The Jizera Mountains
The Jizera Mountains are situated in the north of the Czech Republic, between the Lusatian
Mountains and the Giant Mountains. One of the main towns there is Liberec with its dominant
Ještěd. The highest mountain of the Jizera Mountains is Smrk (1,124 m).
The nature of the Jizera Mountains fascinates visitors with its coarse Scandinavian character
and plenty of beautiful places with unique natural creations. There are many peat bogs or
areas, which are formed by spruce virgin forest. The Jizera Mountains and Ještěd ridge are
important recreation areas of the Czech Republic. They offer brilliant conditions for summer
tourism. In winter they become a famous place for skiers, because of many kilometres of
maintained tracks or ski tows in many ski-centres of the Jizera Mountains.
Getting to Liberec
Liberec is easily accessible from Prague by coach or car. The distance is approximately 110
km on the motorway. For those who are not travelling by car, there are two options for getting
from Prague to Liberec. Having arrived in Prague (the Ruzyně airport), you need to make
your way to the Prague bus station Černý most. Proceed as follows the easiest way:
 Buy a 30 CZK (crown) ticket at the tobacconist's. You can also buy a ticket on the bus
from the bus driver - this will cost a little more. If you have any problems buying a
ticket, ask for help at the airport information office.
 You need to take bus No. 100. The bus stop is located in front of the airport.
 Once on the bus validate your ticket in the ticket machine. The ticket should be
inserted in the direction shown by the arrow on the ticket. The ticket is also valid for
the Metro (underground).
47
 On week days this ticket is valid for 75 minutes any time between 5.00 a.m. and 8.00
p.m. Otherwise on Saturdays and Sundays and during the week any time before 5.00
a.m. and after 8.00 p.m. it is valid for 90 minutes.
 Get off the bus 100 at "Zličín" (final station) and go to the metro (underground). This
is indicated by an "M" sign. To reach “Černý Most” takes about 45 minutes.
 When you leave the train at Černý Most there are stairs on your right. Go down the
stairs which will take you to the bus stops. The coach to Liberec leaves from bus
stop 6.
 You can either buy a ticket at ticket counter “Předprodej jízdenek” or on the bus.
(Liberec is pronounced as ”li-bhe-rets”). The price of the ticket is about 90 CZK.
Before leaving your country consult the departure of your coach on:
www.studentagency.cz
Please note:
Your metro ticket must be valid at all times. If it expires, buy a new one and validate it when
entering the paid underground zone in the small orange machine.
Coach tickets can be bought on the bus; however, during rush hour you risk standing for the
duration of your journey or may not be allowed on board at all.
The coach trip lasts approx. 65 minutes. Coaches leave almost every hour during the day.
Coach Ticket office hours for Černý Most:
Mo - Fri: 6.00 - 20.00
Sat: 6.00 - 17.00
Sun: 7.00 - 18.00
48
Getting to the Faculty of Economics
When you arrive in Liberec it would be best to have someone meet you at the coach station.
However, for your information a map of the town will be provided with the individual university
facilities and coach station marked. All main buildings of the Technical University of Liberec
are located some twenty minutes walking distance from the town centre. The Faculty of
Economics is situated in building "H" of the University in the town centre. If you come by bus
or train, you will see a tram station in front of the railway station (nádraží ČD). Take the tram
Nr. 2 to Lidové Sady. Get off at „5. května“ stop and turn left to Voroněžská Street. You walk
100 m, and then you will see a high building on your right. This is the Faculty of Economics,
building „H“(Nr. 3 on the map). If you prefer going by taxi, call +420 485113366 or
+420485109090.
Coming by car, follow the signposts to the library or swimming pool. The Faculty of
Economics is situated between the two buildings.
49
Publisher
The Technical University of Liberec
Print:
2007, OFSET – VALEŠ s. r. o.
Editors:
Jan Skrbek
Hana Stárová
Information about departments and subjects was provided by heads of departments
Photos:
Jan Skrbek
Jaroslava Kočárková
ISBN:
978-80-7372-269-2
50
Liberec
The Town Hall
The Town of Harmony
http://www.infolbc.cz