Economics for artists Field of study: Fine Arts Education
Programme code: W6-S2EP19.2025

The general objective of the module is to provide the student with basic issues in the field of economics in the light of the achievements and views of authorities in contemporary economics. The implementation of the content contributes to the acquisition of the ability to understand and use basic economic categories: using the consumer and producer theory to interpret problems of economic practice and to assess the rationality of decisions made by economic entities and households. A synthetic description of the basic directions of economic thought contributes to the knowledge of the basic types of economic systems (systems) and their elements. The task of the module is to shape the student's skills in the area of ​​analysis and interpretation of basic macroeconomic problems, such as: national income calculation, unemployment, the business cycle, fiscal and monetary policy of the state. Another objective is to illustrate the impact of the external environment on the activities of enterprises. Discussing selected problems in the field of international economic relations contributes to the expansion of the student's knowledge in the field of use and assessment of appropriate methods and tools for the description and analysis of the enterprise's environment. Subject content: Determining equilibrium on the market. Analysis of adjustment processes in different time horizons. Determining the price elasticity of demand and supply - tasks. Household in the management process. Choice and limitations of household choice - tasks and problem solving. Enterprise in a market economy. Forms of enterprises and their features. Types and variability of costs in an enterprise - tasks and problem solving. Determining the technical and economic optimum in an enterprise - case studies and tasks. Macroeconomic overview of the economy, main controversies and paradigms of macroeconomic theories. Circular motion in the economy. Coordinating mechanisms: market of goods and services, market of production factors, financial market. Basic equalities in the economy - problem solving. Product and national income calculation. Measurement of GDP and GNP. Analysis of nominal and real values, global and per capita. Comparisons of absolute values ​​and dynamics of changes over time. Modern measures of economic growth - case studies and tasks.Determinants of national income – supply and demand approach. Global demand and its components. Mechanism of the investment multiplier – case studies and tasks. Macroeconomic economic policy. Fiscal policy: automatic stabilizers and discretionary policy (expansionary and restrictive). Balanced budget multiplier. Monetary policy: easy and hard money policy. Creation of bank money – case studies and tasks. The labor market and combating unemployment by the state – problem solving and tasks. (selected examples) Inflation and analysis of market participants' behavior in inflationary conditions – case studies and tasks. Cyclic nature of economic growth. Types of fluctuations in the economy. Classical cycle and contemporary cycle – case studies and problem solving.