Entrepreneurship Economics
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Course informations
| Study program level |
Undergraduate |
| Study program |
Entrepreneurship |
| Study program direction |
Entrepreneurship |
| Course year |
1. |
| Course semester |
II |
| Course status |
Core |
| ECTS |
6 |
| Lectures (h) |
30 |
| Excercises (h) |
30 |
| Seminars (h) |
- |
Course objectives
Introduce students with basic economic concepts. Linking basic economic concepts to business operations. In the examples, demonstrate the possibilities of applying methods and decision making techniques to address short-term and long-term business problems.
Course outcomes
The name of the learning outcomes set: Use of company assets
Level: 5
- Determine the degree of capacity utilization and the asset turnover ratio
- Evaluate how to use assets and comment on them
The name of the learning outcomes set: Economic indicators for business
Level: 5
- Analyze the economic and technical standing of a business performance
- Calculate key performance indicators
- Apply indicators of business performance to a specific business situation and explain them
- Present the results to all stakeholders
The name of the learning outcomes set: Costs calculation - concept, type and purpose
Level: 5
- Explain the concept of calculation and its purpose
- Distinguish between different methods and types of calculations
The name of the learning outcomes set: Production and cost function
Level: 5
- Comment on the function of production, total, average and marginal production, the isoquant
- Determine the marginal costs and comment on the relationship between the cost curves
- Analyze the dynamics of short and long term costs and distinguish terms and types of fixed and variable costs, the importance of cost-to-point analysis and cost remanence
Course content
Introduction to the economy of the company. Company assets: the concept and division of production assets, fixed assets, working capital, liquidity and solvency. Production function, total, average and marginal product, the law of declining yield, economies of scale. Cost and calculation theory: concept and types of costs, constant costs, variable costs, marginal costs, cost dependency on capacity utilization changes, cost estimation for different levels of capacity utilization, cost coverage, calculations. Determining business results: expenditures, income, profit and loss account, financial flow of funds, business result, determining the value of the agricultural economy. Business performance indicators: concept of success, productivity, economy, profitability.
