Course detail

Managerial Economics 2

FP-Ome2PAcad. year: 2021/2022

The course focuses on methods and procedures used in economic activities of the company using qualitative modelling, mathematical-statistical methods and methods of forecasting economic processes using IT. In the course, case studies are used in particular for practical processing of specific economic cases, including analyses and benchmarking also within the EU. Case studies are focused on the fundamental analysis of property and capital structure, revenues, costs and company results, the evaluation of time development using time series focused on company performance, multi-criteria benchmarking, the use of multi-dimensional linear regression to deal with forecasting methods, as well as decision-making on future company activities. Software Statistica 12, IBM SPSS Statistics will be used for dealing with case studies.

Language of instruction

Czech

Number of ECTS credits

4

Mode of study

Not applicable.

Learning outcomes of the course unit

Students will understand the utilization of the methods, tools and procedures used in various activities of the company and their interdependence with disciplines such as management economics, economics, mathematical modelling, statistics and operational research. Students will take the theory of the completed courses as a basis and in practical case studies, they will learn how to use individual methods and procedures that are necessary for decision-making in practice. Upon completion of the course, the students will be able to evaluate the results achieved, find shortcomings, propose their solutions and make justifications and decisions from the point of view of the economic management of the company.

Prerequisites

Students are expected to have general economic knowledge.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The nature of the lectures is just a repetition of the interpretation of basic theoretical principles, the methodology of the given discipline.
Emphasis is placed on exercises when practical case studies are dealt with.

Assesment methods and criteria linked to learning outcomes

The exam is awarded based on a written exam. The exam is thematically divided into three areas. The first area is closed questions, the second part is open questions, and the last part is calculating a practical example. The whole scope of the issue is based on individual thematic areas.
The student is awarded a classification according to the ECTS scoring scale (max. 100%, min. Percentage weight for passing the exam = 50%).

Course curriculum

1. – 2. Fundamental analysis of the condition of the company, the structure of property (assets) and capital (liabilities) and the effectiveness of their spending including prediction (qualitative prediction models, heuristic methods, Brainstorming, Brainwriting, the Delphi method). Case study.
3. – 4. Evaluation of the time development of company economic phenomena (time series). Case study.
5. – 6. The position of a company within competing or other companies also within the EU. Multi-criteria evaluation of companies by selected indicators (methods of ranking, the TOPSIS, ELECTRE methods, etc.). Case study.
7. – 8. Decisions on changing the production, sale, product differentiation, price policy, assortment (optimization analysis, linear regression, multi-dimensional linear regression). Case study.
9. – 10. Decision-making on future company activities (sensitivity analysis, risks). Case study.

Work placements

Not applicable.

Aims

The aim of the course “Management Economics 2” is to acquaint students with methods and procedures used in individual activities of the company using qualitative modelling including forecasting economic processes, but also using statistical-mathematical methods and procedures. Students will get to know the necessary theory during the lectures, and in practical case studies, they will learn how to use individual methods and procedures. Practical processing of case studies constitutes an essential part of the course; it includes a fundamental analysis of property and capital structure, revenues, costs and company results, the evaluation of time development using time series focused on company performance, multi-criteria benchmarking also within the EU, the use of multi-dimensional linear regression to deal with forecasting methods, as well as decision-making on future company activities. Upon completion of the course, students will be able to use these methods and procedures to solve various problems within the company, and based on the results, to make decisions on the future direction of the company within the international environment.

Specification of controlled education, way of implementation and compensation for absences

The control of learning during the semester is based on the elaboration of case studies. In the case of excused absences in practical lessons the teacher may, in justified cases, define a substitute condition, usually the elaboration of a separate case study.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

KOCMANOVÁ, A. Ekonomické řízení podniku. Praha: Linde Praha, 2013. ISBN 978-80-7201-932-8.
SYNEK, M., KOPKÁNĚ, H., KUBÁLKOVÁ, M. Manažerské výpočty a ekonomická analýza. Praha: CH Beck, 2010. ISBN 978-80-7400-154-3.

Recommended reading

JABLONSKÝ, J. a DLOUHÝ M. Modely hodnocení efektivnosti a alokace zdrojů. Praha: Professional Publishing, 2015. ISBN 978-80-7431-155-0.
ŘEHÁK, J. a BROM, O. SPSS–Praktická analýza dat. Brno: Computer Press, 2015. ISBN 978-80-251-4609-5
SYNEK, M. a kol. Manažerská ekonomika. Praha: Grada Publishing, a.s., 2011. ISBN 978-80-247-3494-1.

Elearning

Classification of course in study plans

  • Programme MGR-MEO Master's 2 year of study, summer semester, compulsory

Type of course unit

 

Lecture

10 hod., optionally

Teacher / Lecturer

Exercise

20 hod., optionally

Teacher / Lecturer

Elearning