FACULT Y OF ECONOMICS

TECHNICAL UNIVERSITY OF LIBEREC | CZECH REPUBLIC

FACULT Y OF ECONOMICS

S t u d e n t s ’ G u i d e l i n e s f o r E r a s m u s P r o g r a m

TUL - Central Building at Studentská Street

manu ál vizuální identity esf v ČR sekce A řešení loga s vlajkou EU

evropský sociální fond v ČR


european social fund in the czech republic


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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 (cca 70 miles) and the approximate time of

travel is 70 minutes.

By bus There are fast and frequent services from Prague to Liberec. There are also

links to other main towns in the Czech Republic.

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 pages.

T E C H N I C A L U N I V E R S I T Y O F L I B E R E C

L I B E R E C

editors:

Hana Stárová Jaroslav Demel

FACULTY OF ECONOMICS

TECHNICAL UNIVERSITY OF LIBEREC

CZECH REPUBLIC

Students’ Guidelines for Erasmus Program

© TECHNICAL UNIVERSIT Y OF L IBEREC, 2011

AUTHORS RESER VE THE RIGHT TO MAKE CHANGES DURING STATED TIME

The bro chure was published with the f inancial supp or t of the Europ ean Commission

within the framework of the LLP Erasmus pro gramme.

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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 accommodation and other 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

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ERASMUS Programme at the Faculty of Economics Technical University of Liberec

ERASMUSis 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.tul.cz/en/international-relations

manu ál vizuální identity esf v ČR sekce A řešení loga s vlajkou EU





european social funin the czech republiceuropean social funin the czech republicevropský sociální fond v ČRevropský sociální fond v ČR

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The Faculty of Economics of the Technical University of Liberec was officially established in 1992, under the decision of the Accreditation Commission 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.

Address: Faculty of Economics Phone: + 420 48 535 1111 Voroněžská 13 Fax: + 420 48 535 2229 461 17 Liberec E-mail: [email protected] Czech Republic Web: www.ef.tul.cz

Dean doc. Dr. Ing. Olga Hasprová | [email protected]

Vice-Dean for Full-time Studies PhDr. Ing. Helena Jáčová, Ph.D. | [email protected] Vice-Dean for Research doc. Ing. Miroslav Žižka, Ph.D. | [email protected] Vice-Dean for Part-time Studies and Studies in English Mgr. Hana Stárová | [email protected] Vice-Dean for External Relations Ing. Jaroslav Demel | [email protected]

International Office and Erasmus - contact person

Ing. Marie Hlavatá | [email protected](building H – 5th floor)

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Standard Academic Programmes Offered in Czech

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 offered in Czech language:

* 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.

* Economics and Management, specialization in Economics and Management of International Trade Standard length of study is 3 years; full-time courses.

* Economics and Management, specialization in Economics and Management of Services Standard length of study is 3 years; full-time courses.

* Economics and Management, specialization in Tourism Standard length of study is 3 years; full-time courses.

* System Engineering and Informatics, specialization in Managerial 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)

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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 in Czech:

* 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.

* 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.

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Standard Academic Programmes Offered in English

Bachelor Study programme* 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* Economics and Management, specialization in Business Administration Standard length of the programme is 3 years; full-time and part-time coursesMaster Study Programme* 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.

Neisse University

The Neisse University represents an international network of co-operation which is based on joint study courses. Three universities from three countries are involved in the project: > Technical University of Liberec, Czech Republic > Wroclaw University of Technology, Poland and > University of Applied Science Zittau/Görlitz , 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 faculty organizes an intensive English course for students who were accepted to Information and Communication Management. The course is held before the 1 st semester at the Faculty of Economics in Liberec.

For more information about the course contact Mgr. Hana Stárová.

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LLP Erasmus Programme Offered in English

The Faculty of Economics started the LLP 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 specializations. The students from partner universities can study following courses in the bachelor or master study programmes. The doctoral study programmes are planned individually according to the students´ preferences. LLP Erasmus students can also attend the courses offered for students studying Information and Communication Management. (Neisse University)Please note that for all the following courses to be opened a minimum of 4 students is required

BACHELOR STUDY PROGRAMME - Winter semester: 10 - 18 Business Administration 10 Macroeconomics I 11 UNIVERSITY NEISSE 12 Marketing 13 Marketing Communication 14 Informatics I 15 Application Software 16 Business Logistics 17 Statistics I 18 Finances I - Banking 19 BACHELOR STUDY PROGRAMME - Summer semester: 20 - 26 Microeconomics I 20 Financial Accounting 21 Marketing Research 22 Informatics II 23 Statistics II 24 Human Resource Management 25 Finances II - Capital Markets 26 MASTER STUDY PROGRAMME - Winter semester: 27 - 32 Microeconomics II 27 Economic policy 28 Financial Management I 29 Econometrics 30 Information Systems 31 Project Management 32 MASTER STUDY PROGRAMME - Summer semester: 33 - 40 Macroeconomics II 33 Financial Management II 34 World Economy 35 Public Finances 36 Introduction to E-commerce 37 Corporate Social Responsibility 38 History and Organization of the EU 39 BACHELOR AND MASTER STUDY PROGRAMME 40 Czech Language Course 40

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NOP-E Business Administration

General Information:

Module structure (lectures/seminars) Credits: 6

Specification: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

BACHELOR STUDY PROGRAMME - Winter semester

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MK1-E Macroeconomics I



Specification: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.


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BACHELOR STUDY PROGRAMME

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UNIVERSITY NEISSE FULL - TIME STUDY IN ENGLISH

Study programme: SYSTEM ENGINEERING AND INFORMATICS - B6209

Specialization: INFORMATION AND COMMUNICATION MANAGEMENT - 6209R012

1ST YEAR - at the Technical University of Liberec - winter semestr (1st semestr)

COURSE TITLE ABBREVIATION CREDITS ENROLMENT

Mathematical Foundations I MZ1-N 6 1st semestr

Hardware and Computer Architecture HAP-N 5 1st semestr

Operating systems OSN-N 2 1st semestr

Programing Paradigms I PR1-N 5 1st semestr

1ST YEAR - at the Technical University of Liberec - summer semestr (2nd semestr)

COURSE TITLE ABBREVIATION CREDITS ENROLMENT

Mathematical Foundations II MZ2-N 4 2nd semestr

National Lang and Cultural Paradigms NJP-N 3 2nd semestr

Scientific Work VP2-N 3 2nd semestr

Programing Paradigms II PR2-N 5 2nd semestr

Information Marketing INM-N 5 2nd semestr

MKG-E Marketing General Information:

Module structure (lectures/seminars per week) Credits: 6

Specification: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


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MKO-E Marketing Communication



Specification: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, 1995BELCH, E.G.: Advertising and Promotion. Irvin McGraw-Hill, Boston, 2000BELCH, E.G, BELCH, M.A. .: Introduction to Advertising and Promotion. Irvin McGraw-Hill, Boston, 2000JEFKINS, F.: Modern Marketing Communications. Blackie a. Sons, London, 1996

IN1-E Informatics I



Specification: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 information 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.


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APS-E Application Software



Specification: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.

PLO-E Business Logistics



Specification: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 Introduction into Logistics Issues Basics of logistics, its evolution, definitions of logistics (macrologistics, micrologistics). The strategic factors of a company’s competitiveness, logistics channel 2 Client Service Definition of Client Service, Components of Client Service, consumer preferences, Product Life Cycle 3 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. 4 Logistics system Results of successful development of a logistics system. Logistics reengineering process and its results. 5 Relation among Logistics, Management and Marketing Flexibility of logistics chain, active and passive elements, conflicting interests of corporate divisions. 6 Integrated logistics chains Total supply chain concept, dimensions of logistics integration, concept of logistics cycle. 7 Types of logistics chain Push and pull principle, traditional and new approach to manufacturing, the logistics typology of production. 8 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 9 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


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ST1-E Statistics I



Specification: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, 2005Van Matre, J., G., Gilbreath, G., H. : Statistics for Business and Economics, Third Edition. Business Publications, Inc., Illinois, 1987Kazmier, L., J., Pohl, N., F. : Basic Statistics for Business and Economics, Second Edition. McGraw-Hill, Inc., New York, 1984.

FI1-E Finances I - Banking



Specification: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. 1995ADAMS A.: Investment. Graham and Orotman, London, Boston, Dorbrecht. 1992SHETBY A.G., MC GRATH., F.J., HAMMERBACHER, I.M.: Finance. R.D. Irwin, Boston, Ma.,1995RODRÍGUEZ, K.: Principles of Finance. D.C. Heath and Company, Lexington, Ma., 1992KAUFMANN, H.M.: Money and Banking. D.C. Heath and Company, Lexington, Ma., 1992


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BACHELOR STUDY PROGRAMME - Summer semester

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MI1-E Microeconomics IGeneral Information:


Specification: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 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.

FIU-E Financial Accounting



Specification: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 1-86152-880-9ANTHONY, R. N. – REECE, J. S. Accounting Principles. 7th ed. USA: Irwin, 1995. 686 s. ISBN 0-256-12401-92005 International Financial Reporting Standards Bound Volume. London: IASC, 2005. ISBN 1-904230-79-2Miller European Accounting Guide. 3. ed. USA: Harcourt Brace, 1998. 1683 s. ISBN 0-15-06077-9NOBES, CH. – PARKER, R. Comparative International Accounting. 6. ed. Great Britain: Prentice Hall, 2000. 534 s. ISBN 0-273-64602-8RADEBAUGH, 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>


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MVZ-E Marketing Research



Specification: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

IN2-E Informatics II



Specification: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 1996P. CHECKLAND, HOLWELL: Information, systems and information systems. John Wiley, 1998


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ST2-E Statistics II



Specification: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, 2005VAN MATRE, J., G., GILBREATH, G., H. : Statistics for Business and Economics, Third Edition. Business Publications, Inc., Illinois, 1987KAZMIER, L., J., POHL, N., F. : Basic Statistics for Business and Economics, Second Edition. McGraw-Hill, Inc., New York, 1984.

PMA-E Human Resource Management



Specification: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 Resource Management – functions, activities, objectives. 3. Human Resource 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 0-273-60244-6IVANOVIC, 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 0-333-57248-3; 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


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FI2-E Finances II – Capital Markets



Specification: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. 1995ADAMS A.: Investment. Graham and Orotman, London, Boston, Dorbrecht. 1992SHETBY A.G., MC GRATH., F.J., HAMMERBACHER, I.M.: Finance. R.D. Irwin, Boston, Ma.,1995RODRÍGUEZ, K.: Principles of Finance. D.C. Heath and Company, Lexington, Ma., 1992KAUFMANN, H.M.: Money and Banking. D.C. Heath and Company, Lexington, Ma., 1992

MI2-E Microeconomics II



Specification: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.

MASTER STUDY PROGRAMME - Winter semester

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HPO-E Economic Policy



Specification: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.

FR1-E Financial Management I



Specification: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.


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EKM-E Econometrics



Specification: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.

NS-E Information Systems



Specification: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. Managing the digital firm, 2. IS in the enterprise 3. Information systems, organization, management, strategy 4. Digital firm - e-business and e-commerce 5. IT infrastructure and platforms 6. Managing data resources 7. Telecommunication, networks and the Internet 8. Security and control 9. Enterprise applications and business process integration 10. Managing knowledge in the digital firm 11. Enhancing decision making for the digital firm 12. 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 0-13-153841-1ALTER S.: Information Systems, A Management Perspective, Addison Wesley, 1999, ISBN 0-201-35109-9


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RPR-E Project Management


Module structure (lectures) Credits: 6

Specification:Project management is a tool for planning and organizing changes in organization or implementing new computer system. Project management includes developing a project plan, which includes defining and confirming the project goals and objectives, identifying tasks and how goals will be achieved, quantifying the resources needed, and determining budgets and timelines for completion. It also includes managing the implementation of the project plan, along with operating regular ‚controls‘ to ensure that there is accurate and objective information on ‚performance‘ relative to the plan, and the mechanisms to implement recovery actions where necessary. Projects usually follow major phases or stages (with various titles for these), including feasibility, definition, project planning, implementation, evaluation and support/maintenance. Students will design their own projects.

Outline – lectures: 1. Project Definition and Planning 2. Requirements Definition and Management 3. Project Risk Management 4. Earned Value 5. Software Project Management (PM) 6. Useful Skills -- Team Building and Group Leadership 7. Ethics in Project Management 8. Communicating Your Plans and Status 9. General PM Resources

Recommended literature:BERKUN, S. The Art of Project Management (Theory in Practice), O´Reilly Media, USA, 2008, ISBN 978-0-596-51771-7BILLOWS, D. Essentials of Project Management, Vienna, 2003, ISBN 978-0-56726-186-8


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MK2-E Macroeconomics II



Specification: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.

MASTER STUDY PROGRAMME - Summer semester

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FR2-E Financial Management IIGeneral Information:


Specification: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.


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SEK-E World Economy



Specification: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 2004Feldstein, M. ed.: International Capital Flows. Chicago and London, Chicago University Press 1999Globalisation and its critics – A survey of globalisation. The Economist, September 20, 2003IMF at 60 (Features and Development Issues). Finance and Development, vol. 41, no. 3, September 20, 2003Jonáš, J.: International Monetary Fund after the Financial Crises of the 1990s. Prague Economic Papers 1/2001, p. 51 – 65Lovins, A.: Energy Policy; Old problems, new solutions. WordLink, July/August 2002, p. 43 – 47Nogués, J. I.: Agricultural Protectionism, Debt Problems and the Doha Round, Development Outreach, July 2003, p. 13 –16Ortiz, G.: Recent Emerging Market Crises: What Have We Learned? Bank for International Settlements – Per Jacobson Foundation, Basel 2003Redrafting The Reform Agenda (Features and Inequality). Finance and Development, vol 40, no 3., September 2003, p. 9 –23, 46 – 47Saggi, K.: Trade, Foreign Direct Investment and International Technology Transfer: A Survey. The World Bank Research Observer, vol. 17, no 2, Fall 2002, p. 191 – 235Sutherland, P.D.: Managing the International Economy in the Age of Globalisation. Washington, The Per Jacobson Foundation 1998The Dragon and the Eagle – A survey of the world economy. The Economist, October 2, 2004The Innovation Economy. Business Week, October 11, 2004, p. 56 –118The Shape of Global Integration. Finance and Development, vol. 39, no. 1, March 2002, p. 4 – 16The Sources of Economic Growth in OECD Countries. Paris, OECD, 2003Wilson, J.S.: Trade Facilitation, WTO Rules and Capacity Building. Development Outreach, World Bank Institute, July 2003, p. 26 - 28


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VF-E Public Finances



Specification: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 0-333-59802-4.BARR, N. The Economics of the Welfare State Oxford: Oxford University Press, 2004. ISBN 0-19-926497-XBROWN, 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. 2006ROSEN, H. S. Public Finance 5th ed., Boston: McGraw-Hill, 1999. ISBN 0-256-17329-XSTIGLITZ, J. E Economics of the Public Sector, 3. ed., New York: W. W. Norton & Company, 2000. ISBN 0-393-96651-8


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UMK-E Introduction to E-commerce



Specification: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 e-commerce 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.


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SOF-E Corporate Social Responsibility



Specification:Corporate Social Responsibility (CSR) is closely linked with the principles of Sustainable Development which argue that enterprises should be obliged to make decisions based not only on financial/economic factors (e.g. Profits, Return on Investment, dividend payments etc.) but also on both the immediate and the long-term social, environmental and other consequences of their activities. EU definition of CSR is: „A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.“ This subject is interested in social, environmental and economical potential of company. Lessons provide information on history of CSR, tools of CSR and best practice in companies from all around the world.

Outline - lectures: 1. Introduction to Corporate Social Responsibility (CSR) 2. History of CSR 3. Tools of CSR, Triple-Bottom-Line 4. Social Pillar 5. Environmental Pillar 6. Economy Pillar 7. Best Practice in CSR

Recommended literature:DERICKSON, R., HENLEY, K. Awakening social responsibility. Silicon Valley: Happy About, 2007. ISBN 978-16-0005-065-7.KOTLER, P., LEE, N. Corporate social responsibility: doing the most good for your company. Hoboken: John Wiley and Sons, 2005. ISBN 978-0-471-47611-5.SAVITZ, A., WEBER, K. The triple bottom line. San Francisco: Jossey-Bass, 2006. ISBN 978-0-7879-7907-2.


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HEU-E History and Organization of the EU



Specification:The course provides students with the basic knowledge on the European Union. It gives information about historical roots of the EU, its objectives and principles on which it was founded. The students are informed about the EU institutions and their structure and organization. The major part is devoted to the integration process in Europe. Outline – seminars: 1 – Historical background of the EU, first steps towards integration, ECSC, EEC, EURATOM 2 - Maastricht – a milestone of the EU, pillars of the EU 3 - Institutions of the EU – structure and organization 4 – EU enlargements – integration process – single market – four freedoms - EU members - EU candidates 5 – Schengen agreement - Schengen area 6 – Monetary Union – single currency “the Euro” – the European Central Bank 7 – Geography and Demography of the EU 8 – Czech Republic and the EU 9 - EU funds and grants (PHARE, ESF etc…) 10 – The EU budget 11 - Common Policies and Activities 12 – Presentations

Recommended literature:1. PINDER, J.: The Building of the European Union. OUP. Oxford 1998, ISBN 0-19-289315-7 2. CRAM, L., DINAN, D., NUGENT, N.: Developments in the European Union. Macmillan Press Ltd. London 1999, ISBN 0-333-73633-8 3. NUGENT, N.: The Government and Politics of the European Union. Macmillan Press Ltd. London 1994,ISBN 0-333-61445-5-3 http://europa.eu/ http://en.wikipedia.org/


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C2A-E Czech Language



Specification:The course is designed for incoming exchange students. It aims to give enough skills for everyday communication situations. It is based on broadening the foreigners´ outlook in respect to the characteristic features of the Czech language. Outline – seminars: 1. Social relations - greetings, invitation, introducing, wishes, express of assent and dissent. Grammar: Alphabet. Phonetics of Czech Language. Correct pronunciation.Conjugation of verb TO BE. 2. Relations among people - family relations, friends, communicative politeness and etiquette formal communication with institutions. Grammar: Morphology of nouns (principle). Word order and sentence pattern. 3. Time relations (days in week, date, time schedule) and space orientation. Grammar: Numerals 1 - 100. 4. Living in the town (buildings, institutions, shopping, traffic). Grammar: Information about verbs. 5. Home (flat, house, rooms and furniture). 6. School and education (subjects of study, universities, examinations). 7. Food (breakfast, dinner, supper, menu, restaurants). 8. Cultural life (theatre, music, museum and gallery, cultural monuments). 9. Leisure time, hobby activities, sports. 10. Business, money. Grammar: Numerals 1000 ---, ordinal numerals. 11. Characters, behaviour, dress. 12. Health and illness. Style of living. Grammar: Final revision and practice

BACHELER AND MASTER STUDY PROGRAMME - Winter and summer semester

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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. The library provides students with a high quality study environment.

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.tul.cz.

Canteens

Students´ 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 sports courses and 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 sports activities, such as swimming, volleyball, basketball, football, softball, yoga, tennis, karate, badminton, climbing, body-building, cycling and other activities according to their interest and availability.

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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 contributed to the decision that FIS Nordic World Ski Championships was held in Liberec in 2009.

Town HallThe 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.

Zoological GardenThe 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.

Babylon CentreThe Babylon centre is one of the most important attractions in town. It is a large and unique congress, hotel and entertainment complex covering the site of an old factory on area over 30 000 sgm. It offers all for social and company activities from big congresses to schooling, exhibitions, balls and weddings and promises a great entertainment and relax occasions in:Aquapark - the biggest thermed water paradise in the Czech Republic with all year operating timeLunapark, Bowling, Laser Game, IQ Park, Labyrint and XD TheaterWellness Centrum, Solt-lod CaveShopping Centre

JeštědFew 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.

Jizera MountainsThe Jizera Mountains are situated in the north of the Czech Republic, between the Lusatian Mountains and the Giant Mountains. 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.

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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:

Before leaving your country check the departure of your coach on: www.studentagency.cz or www.dpml.cz

Please note:

Getting to the Faculty of Economics

When you arrive in Liberec it would be best to have someone meet you at the bus station. 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 or 3 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“.

Coming by car, follow the signposts to the library or swimming pool. The Faculty of Economics is situated between the two buildings.

Getting to the accommodation - If you want to go from the centre of the town to the Halls of Residence in Harcov you can take a bus NO. 15 or 29. You get off at the „Přehrada“ stop.

* Buy a ticket (about 30 CZK) 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). * 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” (final station) 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 bus to Liberec leaves from bus stop number 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.

* 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. * Bus 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 journey takes about 70 minutes. Coaches leave almost every hour during the day. * Bus Ticket office hours for Černý Most: Mo - Fri: 7.00 - 19.00 Sat: 7:30 – 19.00 Sun: 8.30 - 19.00 lunch break (13.00 – 13.30)

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gym

A

B,C,D

E

BAC D E F

F

H

IC

K

M

P

S

ICA

B,C,D

E

F

L

L

H

KP

S

BAC DE F

M

ZOO

JnN

JnN

JnN

PUBLIC TRANSPORTBUS STATIONTRAM STATION HARCOV

Accommodation

4

1

2

5

3

6

TOWN HALL

THEATER (F.X.ŠALDA)

MUSEUM

OLD BATH

LIBRARY LIBEREC

CIVIC CENTER

Hálkova street

Čížkova street

Studentská street

Husova street

Voroněžská street (Faculty of Economics)

Studentská street

street 1. máje

street 17. listopadu

Komenského street

Sokolská street

Building constructiondeadline 2011 15 19 29

1 2 3MHD

LIBERECPrague

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Publisher Technical University of Liberec

Print: 2011, Geoprint s.r.o.

Editors: Hana Stárová Jaroslav Demel Photos: Karel Caidler Jaroslava Kočárková

This guide was carried out with the financial support of the European Comission within the frame-work of LLP - Erasmus Programme

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www.ef.tul.czwww.tul.cz/en/international-relations

h t t p : / / w w w . i n f o l b c . c z

L ib erec

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FACULT Y OF ECONOMICS