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Forms of money and how their emissions
Tůmová, Lenka ; Votava, Libor (advisor) ; Mašová, Miroslava (referee)
In this work, I describe the history of money, when, how and why it arose. Also, I will consider what the advantages and disadvantages of different forms of money. As the last chapter in the history of money I will bring the historical reasons for conversion to another currency. Next I will address the present. Present way of emissions and forms of money, mainly on the role of cash and non-cash money now and in the future. The last block of work will be devoted to transition to another currency. I'll look at what the Czech Republic should expect from the adoption of the euro and to recommend measures that should be taken to avoid subsequent problems such as inflation. In this chapter, I will work with the experience of other countries in the European Union, especially with experience in Slovakia.
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Decision making and behavior in financial matters
Tereková, Kristýna ; Votava, Libor (advisor) ; Bytelová, Tereza (referee)
Work summarizes the current knowledge of classical economic theory of consumer and of behavioral economics. These two directions in which economic theory goes, practically verify on the students of the Faculty of Management of University of Economics in Prague. The work has also pointed out the rationality or irrationality in decision making and behavior of students in the financial field and possibly make some basic steps to amend any irrational behavior.
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Trading on Commodity Markets
Musilová, Miroslava ; Kovář, František (advisor) ; Votava, Libor (referee)
The bachelor thesis refers to trading on a commodity exchange and its possibilities. The work is divided into two parts. The theoretical section relates to ways of trading, principles, rules, legislation, exchange types. The practical section is based on the graphic analysis of a few trade transactions showing their strategies and explaining individual indicators of technical analyses needed for their realization. The closing part of this thesis is concerned with the qualities, skills, know-how which can be useful to trading on commodity markets.
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Public debt management
Votava, Libor ; Dvořák, Pavel (advisor) ; Mandel, Martin (referee) ; Vítek, Leoš (referee)
Chronic imbalance between government revenues and expenditures was the main cause of growing public debt in many economies. In economic theory we can find some other arguments that justify deficit financing of government expenditures or public debt. We can mention these arguments -- in some situations (for example natural disaster) government borrowing from other subjects is very prompt and operative way how to gain additional money and seems to be better than other ways (for example better than increase of taxation), government bonds and securities can be very attractive instrument where economic subjects allocate savings and improve liquidity of secondary markets or can be used for monetary policy. On the other hand many arguments against budget deficit and public debt are in theory described and analyzed -- negative affects in savings allocation (crowding-out affect), cost of debt service limits active fiscal policy, debt burden is shifted to other generations, government expenditures from debt financing can negatively effect macroeconomic stability. In theory and in practical policy is public debt and its effects on economy relatively complicated and controversial topic and we can analyze its from economic, technical and political point of view. It results also from the fact that there are many different debt instruments which can be used to finance the budget deficit. A main distinction is the currency of denomination, and, in particular, whether or not is the domestic currency. Another important characteristics is the initial term to maturity, which among marketable instrument may range from few weeks to 30 years. A policymaker may rely on marketable securities, as well as on loans from financial institutions and on savings bonds sold to personal investors. Which instruments policy makers choose depends on the objective they pursue as well as on the circumstances in which the choice is made. Debt management we can define as the process of establishing and executing a strategy for managing the government's debt in order to raise the required amount of funding, achieve its risk and cost objectives, and to meet any other sovereign debt management goals the government may have set, such as developing and maintaining an efficient market for government securities. The objective of debt management policy is to minimize over the long term the cost of meeting the government's financing needs, taking account of risk connecting with debt portfolio. Application of debt management in real economy covers for example these specific issues: Debt management objectives and strategy, coordination with fiscal and monetary policy, allocation of responsibilities and objectives among institutions and authorities dealing with debt management, transparency to public, institutional framework, technical and information base. Importance of public debt management results from facts that high levels of public debt are a common feature of modern economies. It is possible to suppose that debt management is going to be very actual issue in the Czech Republic in near future for these reasons -- Czech Republic is small and open economy (we can consider it to be emerging market), during last several years public debt in Czech Republic have been growing rapidly not only in absolute volume but also as GDP ratio, there is a permanent danger that financial and economic shocks in international economy combined with inappropriate fiscal and monetary policy can have negative or in extreme case fatal impact on many people living in the Czech Republic. Dissertation "Public debt Management" primary focused on these issues and problems: Basic theoretical points concerning fiscal policy, deficit and public (government) debt -- methodology of measuring debt, influence debt on economy, risks connecting with public (government) debt Arguments for and against deficit and debt Public debt management -- general recommendations of International Monetary Fund Practice as for the public debt management in some countries -- USA, Sweden, countries of Euro-area Situation as for the public debt in Czech Republic Public debt management in Czech Republic -- historic development, goals and criteria set and used presently, analyze of risks that public debt management deals with, risk management applied in Czech republic, evaluation public debt management in Czech republic -- confrontation with recommendations of International Monetary Fund Analyze of impact of financial crises on process of public debt management in Czech republic Some arrangements concerning directly or indirectly public dept management in Czech Republic are recommended and analyzed. These recommendations are: Implementation of "inflation-linked" bonds Increasing portion of debt denominated in euro currency Prolongation of calendar of emissions Improvement of intelligibility of documents named "Strategie" that should declare and explain principles of public debt management in Czech republic Creation and implementation of special law destined for public debt management
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Analysis of Banking Products for Entrepreneurs and Firms - differences of the offer provided by Czech banks in comparison with banks abroad
Štěchová, Petra ; Votava, Libor (advisor)
The use of banking products is an integral part of business. For this reason, the theoretical part of the work focuses on the general description. It also highlights the benefits of optimization in this sphere. It also indicates the differences between Czech and European banks, which are most obvious in the bank charges. They discussed the impact of financial crisis, affecting in particular the availability of credit. Practical part of the work focuses on the comparison of products, namely the current accounts of domestic and foreign bank -- ČSOB and Deutsche Bank. The result of this analysis is greater partiality for the establishment of current account at a bank in the Czech Republic. In addition, bank products are analyzed, leading joint-stock company CZ LOKO, which are mentioned experience with their use. Subsequently, the company CZ LOKO recommended a new current account, which is based on the comparison of bids for five lesser-known banks. From this analysis came to establish a new account at a branch of Austrian Oberbank AG, based in the Czech Republic. Finally, carry out a survey on the use of banking products, which demonstrated that all of today's entrepreneurs, to a lesser or greater extent, using bank's services.
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Mortgage Credits
Sitová, Radka ; Votava, Libor (advisor) ; Požár, Stanislav (referee)
This graduation theses is primarily focused on mortgage trends in the Czech Republic. In the first part of the work a mortgage is defined, also its brief history, processing, obtaining, paying, each providers, types and forms of state assistances. In the second part the mortgage market in the Czech Republich is described from the begining of providing to the present and also some market determinants which influence the trend. Then it is focused on the origin and the trend of a hypothecary crisis in the USA and its successive spread all over the world. Tendencies of the mortgage market trends are described here, too.
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