Skip to main content
Skip header

Analysis of Economic Information

* Exchange students do not have to consider this information when selecting suitable courses for an exchange stay.

Course Unit Code151-0351/04
Number of ECTS Credits Allocated4 ECTS credits
Type of Course Unit *Choice-compulsory type B
Level of Course Unit *First Cycle
Year of Study *Third Year
Semester when the Course Unit is deliveredWinter Semester
Mode of DeliveryFace-to-face
Language of InstructionCzech
Prerequisites and Co-Requisites Course succeeds to compulsory courses of previous semester
Name of Lecturer(s)Personal IDName
FRI02doc. Ing. Václav Friedrich, Ph.D.
Summary
In economic analyses, we often encounter the need to evaluate and compare economic phenomena using appropriate indicators. These tools are provided by the area of statistics, called economic and social statistics.
The course "Economic Information Analysis" introduces students to basic methods of economic information analysis using two economic statistics tools: indexes and time series. Students will also get acquainted with the current Czech system of economic and social statistics indicators and its links to the harmonized system within the EU.
Microsoft Excel and IBM SPSS Statistics software tools are used in this course. Individual topics are trained on particular practical examples and tasks.
Learning Outcomes of the Course Unit
The main aim of the course "Analysis of Economic Information" is to introduce students into the basic methods of creation, identification and analysis of economic statistical indicators and their interconnection. The course is based on two important types of statistical indicators, which are indexes and time series.
Upon successful completion of this course, students will acquire the following knowledge, skills and abilities:
• They will learn the methodology of economic indicators used in the state statistics of the Czech Republic and in international statistics.
• They will be able to express the temporal and spatial changes of economic indicators in the form of indexes and analyse them in Microsoft Excel.
• They will practice the basic methods of designing and developing forecasting scenarios.
• They will also get acquainted with basic types of economic time series and selected methods of their analysis in IBM SPSS Statistics.
Course Contents
1. System of economic and social statistical indicators of the Czech Republic.
2. Data processing from public databases of the CZSO and MF CR.
3. Individual simple and compound indices.
4. Summary indices, analysis of heterogeneous data.
5. Price and volume indices in economic practice.
6. Spatial comparison indices.
7. Selected subjective methods of forecasting.
8. Future development scenarios, scenario creation.
9. Time series and their basic properties.
10. Basic methods of time series trend modelling.
11. Exponential time series balancing.
12. Boxing-Jenkins methodology (ARIMA).
Recommended or Required Reading
Required Reading:
GIOVANNINI, Enrico. Understanding the World Economy: Through OECD Statistics. Paris: Organization for Economic Co-operation and Development (OECD), 2008. ISBN 978-92-64-03312-2. Available from: https://www.oecd.org/std/41746710.pdf
ALLEN, R G D. Index Numbers in Economic Theory and Practice. London and New York: Palgrave MacMillan, 2017. ISBN 978-1349023134.
WAGNER, William E. Using IBM® SPSS® Statistics for Research Methods and Social Science Statistics. 7th Edition. Los Angeles: SAGE Publications, 2020. ISBN 978-1506389004.
MACEK, J.; FISCHER, J. a kol. (2008). Ekonomická a sociální statistika. Plzeň: Vydavatelství ZČU v Plzni. ISBN 978-80-7043-642-4.
FRIEDRICH, V.; MAJOVSKÁ, R. (2010). Výběr z ekonomické statistiky: Od OECD k České republice. Praha: Wolters Kluwer ČR. 60 s. ISBN 978-80-7357-537-3.
JEFF, R. et all. (2015). A Practical Introduction to Index Numbers. John Wiley & Sons, Ltd. ISBN 978-1-1189-777-8. Available from (for VSB-TUO staff and students): https://onlinelibrary.wiley.com/doi/book/10.1002/9781118977781
Recommended Reading:
SCHUTT, Russell K. Understanding the Social World: Research Methods for the 21st Century. 2nd Edition. Los Angeles: SAGE Publications, 2021. ISBN 978-1544334684.
BALK, Bert M. Price and Quantity Index Numbers: Models for Measuring Aggregate Change and Difference. Reprint Edition. Cambridge: Cambridge University Press, 2012. ISBN 978-1107404960.
PALLANT, Julie. SPSS Survival Manual: A step by step guide to data analysis using IBM SPSS. 7th Edition. London: Routledge, 2021. ISBN 978-0367719463.
GIOVANNINI, E. (2010). Ekonomická statistika srozumitelně: Z pohledu OECD. Překlad Václav Friedrich a Renata Majovská. 1. vydání. Praha: Wolters Kluwer ČR. 208 s. ISBN 978-80-7357-536-6.
BAKYTOVÁ H.; PAŽITNÁ. M. (2007). Metódy štatistického porovnávania. Bratislava: Vydavateľstvo Ekonóm, 179 s. ISBN 978-80-225-2285-4.
ARLT, J.; ARLTOVÁ, M. a RUBLÍKOVÁ, E. (2002). Analýza ekonomických časových řad s příklady. Praha: VŠE, 2002. ISBN 80-245-0307-7. Dostupné z: https://nb.vse.cz/~arltova/vyuka/crsbir02.pdf
Planned learning activities and teaching methods
Lectures, Individual consultations, Tutorials, Project work
Assesment methods and criteria
Task TitleTask TypeMaximum Number of Points
(Act. for Subtasks)
Minimum Number of Points for Task Passing
Graded creditGraded credit100 51