# data[].attributes.body
Hi, students from F1 can choose any of the courses listed in the section course information above (dark blue tile). F2 students cannot go for B2 First (FCE).

# data[].attributes.body
Hi. I am from Faculty 1 and i read somewhere, that i can´t choose 2AJ303,2AJ304 (FCE). Is that right? Or I can choose any of these offered certificates. Thank you for the answer. :)

# data[].attributes.body
Generally, for the second year of you bachelor studies you should choose from the courses that prepare for one of the Cambridge exams (see the choice in the dark blue tile). As you are from F2, you cannot go for B2 First (too easy), so if you want to study General English, choose either C1 Advanced or C2 Proficiency. But, if you want to continue with Business English, sign up for either BEC Vantage (B2 level) or  BEC Higher (C1 level).

# data[].attributes.body
Hello, I need to ask you what course to choose now after 2AJ212 because I am a little bit confused. I am from the Faculty of International Relations (International trade) can I choose from those that are offered above or is there an exact number of course that I should register for next semester? Thank you very much. :)

# data[].attributes.body
Thank you for letting me know. It is already corrected.

# data[].attributes.headline
Hello, I have mentioned that there are no keys to Listening 4 at Unit 12 (only duplication of the task). Could you please download them?

# data[].attributes.subject
Hello, I have mentioned that there are no keys to Listening 4 at Unit 12 (only duplication of the task). Could you please download them?

# data[].attributes.body
Since I cannot give anyone more than 10 points from the oral exam, there is nothing that can be done. Sorry.

# data[].attributes.body
Hello, may I ask you whether there seriously isn't any viable option to affect my final mark in case of having 78.5 pts after the CBT? The helplessness really hurts :/ Thank you.

# data[].attributes.body
Sorry it took me so long to answer, I am on a way back home from Berlin :-). I have just listened to the recording and the answer is TRADE GUIDE, so there must be a typo in the key. Sorry about that. I will let the course supervisor know asap.

# data[].attributes.headline
May I ask what "strade guide" means? I did the sample listening in insis and in the listening beginning with sentence "You will hear a representative of a company which organises trade fairs for academic recruitment. ", the right answer for question 5 is strade. Google translator does not know this word. Thanks

# data[].attributes.subject
May I ask what "strade guide" means? I did the sample listening in insis and in the listening beginning with sentence "You will hear a representative of a company which organises trade fairs for academic recruitment. ", the right answer for question 5 is strade. Google translator does not know this word. Thanks

# data[].attributes.body
There are no questions from the theory there, however, expect vocabulary exercises from 211 as well as 212.

# data[].attributes.headline
Is the CBT mostly about grammar or are there any theoretical questions or exercises on vocabulary?

# data[].attributes.subject
Is the CBT mostly about grammar or are there any theoretical questions or exercises on vocabulary?

# data[].attributes.body
The time to prepare is about 10 minutes and the time to speak depends on the questions you pick, I would say anything between 5 and 15 minutes.

# data[].attributes.headline
How long do we have to speak and do we have time for preparation or do we chose the question and speak immediately? 

# data[].attributes.subject
How long do we have to speak and do we have time for preparation or do we chose the question and speak immediately? 

# data[].attributes.body
Yes, of course. The list of questions for the oral exam can be downloaded from InSIS, elearning, the section called 212 Course information.

# data[].attributes.headline
Hello, is there a list of questions for the oral exam? thank you

# data[].attributes.subject
Hello, is there a list of questions for the oral exam? thank you

# data[].attributes.body
In the CBT, you might get a gapfill on the topic of negotiation. I suggest that you read the info box on page 137 and look at the verb ´deal´ on page 140-141 in the student´s book.

# data[].attributes.body
Hello, will the topic negotiation be also in the computer-based test?

# data[].attributes.body
Sorry for making this mistake. It has already been corrected. Gap 6 should be a comparative advantage. Well-spotted.

# data[].attributes.headline
hello, why is the option "competitive" in the 6th gap correct? I thought that the advantage is called comparative

# data[].attributes.subject
hello, why is the option "competitive" in the 6th gap correct? I thought that the advantage is called comparative

# data[].attributes.body
There is a sample test in InSIS, in elearning, in the section called 212 Course information. Also, there is listening in this website, in every unit (red tile above).

# data[].attributes.headline
Hello, can I try CBT test so we know how hard the vocabulary/listening is? thank you

# data[].attributes.subject
Hello, can I try CBT test so we know how hard the vocabulary/listening is? thank you

# data[].attributes.body
Thank you very much for the post. I love Calvin and Hobbes and this one is fantastic. Good job!

# data[].attributes.body
https://f656d4b7-a-887f2e47-s-sites.googlegroups.com/a/menloathertonhs.com/senigaglia/economics/15-nov-22-24/CH-economics-716094.jpg?attachauth=ANoY7crqZ9ira-ms7owkAxwELgEtAxnsUHmVOVaFxcVERBb3EWGK1W6boJLvBdAkiArZU6ofFAMwGhZ2uIy3ubLyJ_d46auAcqYmcNLq3qr2AUVyKvqRLQZQaq2_jWJC8kDpNNqxSM_iBLBbPmCA1e1TNsZzeAW2w06yjZg8jIfm2CjO0ysM6T1a1VMEMyndMZcSUFJ2RFIJaUy5_ps8NItJF3hUu8X3DZKX7v2vgjDnKvM0QrOEqKBPlk5BZZK4Z68ci06no9Uu3oUtpgrnTpgkz1_QAgWbTA%3D%3D&attredirects=0

# data[].attributes.body
If you mean the paper-based test next week, then yes.

# data[].attributes.headline
Hello, is it enough to know all the facts from your presentations or do I have to know something more from the book for the final test? Thank you

# data[].attributes.subject
Hello, is it enough to know all the facts from your presentations or do I have to know something more from the book for the final test? Thank you

# data[].attributes.body
The presentation will be uploaded on Thursday May 2nd. Sorry for taking so long to reply :-(

# data[].attributes.body
Hello, I am unable to find the presentation on CSR between the materials from our lessons. Is it already posted on the website? If so, could you please tell me where to find it? Thank you.

# data[].attributes.body
As a rule, no. But an exception could be made, depending on the reason why a student needs an earlier date for the retake. You can contact me by email, if need be.

# data[].attributes.body
Good afternoon, is there a possibility of writing corrective CBT sooner than in June (in May) in case of failing it?

# data[].attributes.body
Sorry, there is no list I can give you.

# data[].attributes.headline
Good afternoon! Do you have a list of questions, which may be on the week 13 in the test?

# data[].attributes.subject
Good afternoon! Do you have a list of questions, which may be on the week 13 in the test?

# data[].attributes.body
CSR presentation - already sent, sorry for the mix-up :-)

# data[].attributes.body
Hi, I have a Wednesday lesson with you and I want to ask if you could send us the presentation about CSR as you promissed ;). You sent us the one about international trade instead. Thanks!

# data[].attributes.body
You will find them in the course website, on the front page, in the light blue tile, which says: do these activities in the classroom. The reports are accessible from the bottom of that page.

# data[].attributes.headline
Hi, can I ask, where do i find our mock reports which you have corrected for us? Thank you

# data[].attributes.subject
Hi, can I ask, where do i find our mock reports which you have corrected for us? Thank you

# data[].attributes.body
The PB test contains only a report and five questions from the 212 topics we have been talking about throughout course.

# data[].attributes.body
Will be in the PB-test any grammar, or is it just writing the report and questions about the topics?

# data[].attributes.body
PB test will contain question from units 8, 9, 11 (only international trade) and 12 (only CSR).

# data[].attributes.body
hello, which units will be in the paper based test? Because I don't remember doing unit 7, so I'm little bit confused.
thank you :)

# data[].attributes.body
The points from Oxford debate and PB test will influence your final mark from 2AJ212, but in order to proceed to the oral exam you need to get 33 and more points from the computer-based test.

# data[].attributes.headline
Hello. Are the points from the oxford debate and test in week 11 important for the CB test and oral exam? I mean if there is any limit or the percentage which i have to have to go to CB test and oral exam :) 

# data[].attributes.subject
Hello. Are the points from the oxford debate and test in week 11 important for the CB test and oral exam? I mean if there is any limit or the percentage which i have to have to go to CB test and oral exam :) 

# data[].attributes.body
You need to get 60% and more from the computer-based test in order to successfully complete the course, regardless the number of points you get from the paper-based test and Oxford debate. This is a general rule for all 212 courses and it cannot be changed.

# data[].attributes.body
In case I would not pass the computer-based test by 60 % but still have at least 60 points total (even without being able to pass the oral exam), would I be classified?

# data[].attributes.body
Unfortunately, it is not possible. Both parts have to taken during the same week.

# data[].attributes.headline
Hello, is it possible to write the e-test in one week and to do the oral exam in the following week? Thank you!

# data[].attributes.subject
Hello, is it possible to write the e-test in one week and to do the oral exam in the following week? Thank you!

# data[].attributes.body
Of course, use subqstatements :-)

# data[].attributes.headline
Hello, can I write "substatements" instead of "subquestions"? I know it is maybe not that important bus it does make better sense to me to say "going to the cinema will increase your happiness" and then list pros and cons than "will going to the cinema increase your happiness"? :) Thank you

# data[].attributes.subject
Hello, can I write "substatements" instead of "subquestions"? I know it is maybe not that important bus it does make better sense to me to say "going to the cinema will increase your happiness" and then list pros and cons than "will going to the cinema increase your happiness"? :) Thank you

# data[].attributes.body
This should be subjected to discussion, shouldn't it :-)

# data[].attributes.body
Is pirating software on the same level as stealing goods from a shop?

# data[].attributes.body
Useful language means phrases, linking words and topic specific vocabulary that you are going to use in the debate

# data[].attributes.headline
Hello, what does 'useful language' mean in the prep sheet? thank you

# data[].attributes.subject
Hello, what does 'useful language' mean in the prep sheet? thank you

# data[].attributes.body
Sorry, I have no preparation worksheet to show. The subquestions are basically narrowed-down topics derived from the rather wide proposition. I suggest that you look at your proposition and try to think about all the aspects/ mini topics that are included in the proposition or about questions that should be asked when discussing the topic and then list positives and negatives of each of them.
An example: (borrowed from one of my students from Monday, I hope they don´t mind)
Proposition: Software piracy is a crime
Subquestion 1: Does software piracy negatively affect developers?
Subquestion 2: Is pirating software on the same level as stealing goods from a shop?
Subquestion 3: Has software piracy become a standard nowadays? Should it be called to account?
Once you have your subquestions, list pros and cons for every question.
Does this help?

# data[].attributes.body
Could you show us some example of filled preparation worksheet? I am a bit confused looking at the Subquestions..

# data[].attributes.body
You can glance at your notes but should never read your speech.

# data[].attributes.body
And can I read something while I am debating?

# data[].attributes.body
All your points should written down in the home preparation worksheet. It is available for download from the course website from the Oxford debate tile. You have to hand it in after the debate.

# data[].attributes.body
Hi,
can we have during OXFORD DEBATE some points written on the paper or we have to know everything from our heads?

# data[].attributes.body
Yes, the subquestions should be specific and detailed and should be derived from the general question. You can work on them together, just make sure that you have enough arguments for the debate. It is better to have more points to raise rather than run of arguments during the debate.

# data[].attributes.headline
Hello, i wanted to ask, how should subquestions in preparation sheet look like? I assume, that they should be different for each person and from general questions to more specific one. Or  should the group work as a team even in preparation sheets. Thank you for your answer.

# data[].attributes.subject
Hello, i wanted to ask, how should subquestions in preparation sheet look like? I assume, that they should be different for each person and from general questions to more specific one. Or  should the group work as a team even in preparation sheets. Thank you for your answer.

# data[].attributes.body
You will lose 10 points (debate + assessment of one of the other teams). You might still get up to 5 points from the preparation sheet if you send it to me until Friday. Are you ill?

# data[].attributes.body
Hello, what will happen if I miss Oxford debate? Thank you for your answer.

# data[].attributes.body
I blame the photographer :-) … Only joking, it can´t be his fault. Honestly, I haven´t given the photo any thought. It was taken on my first day at VSE and it is a mystery to me why I didn´t look happy :-). Since you have asked, I might have a new one taken so as not to scare my students away in the future.

# data[].attributes.body
Hello, may I ask you, just out of curiousity, why do you have such a saddened profile picture in your Outlook mail? In our classes you are always energic and you talk to us with inexhaustible amount of smile.
So, in my opinion, that picture of yours doesn't really suit you :)

# data[].attributes.body
You missed report writing - unit 10 :-).

# data[].attributes.body
Hello,

I would like to ask you what did I miss on Monday class. Did we prepared for the oxford debate somehow?

Thanks :)

# data[].attributes.body
Hi everyone, if you have already done homework for this week, could you also do exercise 5 on page 200. Thank you.

# data[].attributes.headline
Reaction to the post about Oxford debate:

# data[].attributes.subject
Reaction to the post about Oxford debate:

# data[].attributes.body
Hi, thank you for your honest question about Oxford Debate. You have raised several questions and comments, so let me address them one by one.

First, unfortunately, at this moment I cannot change any conditions of the course, including the number of points allocated for each activity.

Secondly, Oxford debate, regardless the fact that it is done during the semester, is still a part of the oral exam, so all in all, you can get up to 25 points from the oral exam.

Thirdly, during this semester, Oxford debate is taught in 35 courses out of 61, so almost 60% of all 212 students have the same conditions as you. I am aware that the other 40% have different conditions, but the differences are not as significant as they might seem. Without Oxford debate, the oral exam still has 25 points and 15 out of these are used to assess the language part of the exam (fluency - cohesion and linking, pronunciation, interactive communication, grammar, vocabulary, phrases etc.) and only 10 points are awarded for the factual part in the questions.

Also, if you look at the allocation of points for the debate, only 7 points can be awarded for the speaking part and grammar, which you mention in your post, is worth only 1 point as there are seven categories that will be assessed during the speaking part (fluency, vocabulary, grammar, interactive communication, phrases, using evidence - graphs, body language). The other points are awarded for the preparation worksheet and assessment worksheet. So, I think that anyone, regardless their nature, has got a good chance of getting a fair number of points even if they make grammar mistakes.

In addition, I sincerely believe that the skills you learn from preparing for and taking part in Oxford debate will be some of the most useful and practical ones you will have learnt in the 212 course - and this is the reason I am looking forward to it.

All in all, during the debate you will be a part of a group of 5 people, so you will not be in the limelight as much as you were during the presentation in 211 and the audience assessing your group will be concentrating on the strength of your arguments, not at your grammar.

And maybe one more thing - at the risk of sounding heretic and naive, I do believe that marks should not be goals but just signposts which tell you where you are in terms of the progress you have made.

# data[].attributes.body
Hi, how many classes can i miss on Thursday? thank you :)
You can miss 3 classes :-) Pavla Nováková

# data[].attributes.headline
Hello, I have question about debate. Do you think it would be possible to give it less points and maybe more to the oral exam? I think it is unfair to give 15 points to the debate while give only 10 points to oral exam where we have to learn like 40 questions? None of my friends have the debate in their classes and they get a lot of points from the oral exam as I think it should be. Thank you and  sorry if I am too honest. I know you are looking forward to the debate, but for people ashamed to talk in front of the others like me, this is the way to lose a chance to get a good final mark...I know we have to learn to deal with people etc. but I still think it's unfair that others are marked based on different criteria (and from my perspective they have better chance of getting good grades - there are 2 other people in the exam which is completely different). Last semester everyone had to do the presentation and now it is only us who are doing this...I think it is interesting I liked trying it but 15 points basically kills your chance of getting good mark if you say something gramatically incorrect in rebuttal in front of other. I would have prefered the negotiation others have and I think you told us in the first lesson that every group has the debate and now I realised they dont, I would have gone to the different teacher if I knew this. I really like your lessons but us introverts just don't like these "public exhibitions". I dont like how others asses me when I try to talk. I am sorry again but I think this is what the page was created for.

# data[].attributes.subject
Hello, I have question about debate. Do you think it would be possible to give it less points and maybe more to the oral exam? I think it is unfair to give 15 points to the debate while give only 10 points to oral exam where we have to learn like 40 questions? None of my friends have the debate in their classes and they get a lot of points from the oral exam as I think it should be. Thank you and  sorry if I am too honest. I know you are looking forward to the debate, but for people ashamed to talk in front of the others like me, this is the way to lose a chance to get a good final mark...I know we have to learn to deal with people etc. but I still think it's unfair that others are marked based on different criteria (and from my perspective they have better chance of getting good grades - there are 2 other people in the exam which is completely different). Last semester everyone had to do the presentation and now it is only us who are doing this...I think it is interesting I liked trying it but 15 points basically kills your chance of getting good mark if you say something gramatically incorrect in rebuttal in front of other. I would have prefered the negotiation others have and I think you told us in the first lesson that every group has the debate and now I realised they dont, I would have gone to the different teacher if I knew this. I really like your lessons but us introverts just don't like these "public exhibitions". I dont like how others asses me when I try to talk. I am sorry again but I think this is what the page was created for.

# data[].attributes.body
I have uploaded some more listening practice to unit 10 in the practice section (red tile)

# data[].attributes.body
Some of you asked for more listening practice. Some more exercises will be uploaded to the website next week and here are two links to the type of exercises that will be in the test:

# data[].attributes.attachment_link.keywords[]
skype english lessons online conversation classes native-english teachers - live spoken english. virtuaule english language system uses specially-trained mother-tongue teachers with skype the system is progressively structured to include every aspect of spoken english.

# data[].attributes.attachment_link.title
BEC Higher 3 - Listening Test 1 - Part 1

# data[].attributes.attachment_link.description
Skype English lessons online conversation classes Native-English teachers - Live spoken English. VirtuAule English Language System uses specially-trained mother-tongue teachers with SKYPE The System is progressively structured to include every aspect of spoken English.

# data[].attributes.attachment_link.readable_text
Your browser does not support the audio element.

Questions 23-30

* You will hear a discussion between two senior managers, John and Deborah, about an assistant manager, Colin, who has applied for a new post.
* For each question ( 23-30), mark one letter ( A, B or C) for the correct answer.
* After you have listened once, replay the recording.

23 The new post is being created as a result of

A plans to change corporate culture.

B criticisms of management practice.

C changes to overall company structure.

24 What reason has Colin given for applying?

A to have a more challenging role

B to make full use of his qualifications

C to raise his profile within the company

25 John was particularly impressed by the way Colin

A treated a dissatisfied client.

B responded to an unreliable supplier.

C dealt with an inefficient member of staff.

26 What current strength of Colin's does Deborah commend?

A his analytical skills

B his product knowledge

C his flexible approach

27 On a recent sales trip, Colin succeeded in

A improving the terms of a contract.

B identifying a new method of selling.

C making a number of new contacts.

28 In what area did Colin excel during recent training?

A teamworking

B report writing

C prioritising

29 What does Colin's reference say?

A He expects too much of others.

B His confidence will grow in time.

C He sometimes lacks objectivity.

30 What support will the successful candidate receive?

A contact with an in-house advisory body

B performance appraisal meetings

C coaching from a consultant

Part 3

Man: Well, Deborah, we need to think about the candidates who've put in applications for the post of area manager.

Woman: Yes, John, it's an exciting new role, and it fits in with the strategy development plan.

Man: Quite. It's part of a logical progression in our approach to management, carefully consolidating our skills base. It should mean a new chain of command, but based on tried and tested methods . . . we'll be stronger as a result.

Woman: Well that's the idea. Now, the first one that's come in is from Colin . . .

Man: The assistant manager for the south-east?

Woman: Yes. Colin's clearly keen . . .

Man: But of course, it's an attractive proposition.

Woman: And 1 think that's what's drawn him. He's said his current post is demanding - as well he might - but that he's keen to position himself in the spotlight here. Reading between the lines, I think the alternative, as he sees it, is to move sideways to IT, which is where his background is. It would be a shame to lose someone like him . . . he's hungry.

Man: Yes, it's a genuine application. He's a serious contender. I was struck recently . . . I think it was last month . . . by his problem-solving abilities. He was passed a complaint - it wasn't really his problem at all - but he took it up anyway, about some faulty goods we'd supplied, apparently. I think he saw it as an efficiency issue, and so relevant to any responsible person here. And he reacted really well, so that the customer went away happy after all.

Woman: Right, and that suggests the qualities that are most germane to the job. Ultimately, I suppose, we're looking for a level of adaptability that it's fair to say someone in his position may not have had the chance to really demonstrate yet. . . but his familiarity with the goods we produce is second-to none, so I think the signs are there that he may become an astute analyst and problem-solver.

Man; That's certainly encouraging. And it's not just in the office that he's been looking good. I sent him abroad as part of that group a few weeks ago. The basic brief was to secure a continuation of the Asian contract. To be honest, that was a bit of a given, and what I was realty hoping for was something extra. And sure enough, he clearly really worked on all our contacts out there, and he came back with some great new insights into how we might be able to develop bulk sales directly through warehouses, rather than through the standard agency channels.

Woman; Oh right, interesting - I missed the debrief on that one. But I do know he went on a training course not so long ago, and clearly reaped the benefits there. The content was mundane enough - 'how to produce effective reports' or somesuch - but he identified the points that really mattered, and saw that what it actually addressed was how to order the most pertinent facts for delivery to a team.

Man: So, it's good news all round?

Woman: Let's look at what his reference has to say. He does have shortcomings, of course. His confidence is very strong, almost to a fault, you might say, which could lead to difficulties on the patience front. . . just because he gets the point quickly doesn't mean he's entitled to think everyone else does, that they share the same conclusions . . . others may be behind in terms of objectivity, still grappling with issues that impact personally on themselves.

Man: Hmm, that'd certainly be something to watch, I guess. Still, we're not looking for perfection, are we? And we're not going to be setting up a lone operator.

Woman: Oh, far from it. Whoever gets the job will be well backed up, I was talking to the consultants the other day, and they were quite critical of our reliance on checking performance through the one-to-one appraisal system, so it's been decided that this new post will he linked into the cross-departmental advisory group that was set up a few months ago, and benefit from dealing with them and getting their input. That should help quite a bit.

Man: That makes a lot of sense. Well, let's talk about some of the other candidates. . .

# data[].attributes.attachment_link.keywords[]
skype english lessons online conversation classes native-english teachers - live spoken english. virtuaule english language system uses specially-trained mother-tongue teachers with skype the system is progressively structured to include every aspect of spoken english.

# data[].attributes.attachment_link.title
BEC Higher 3 - Listening Test 1 - Part 3

# data[].attributes.attachment_link.description
Your browser does not support the audio element. Questions 23-30 * You will hear a discussion between two senior managers, John and Deborah, about an assistant manager, Colin, who has applied for a new post. * For each question ( 23-30), mark one letter ( A, B or C) for the correct answer.

# data[].attributes.attachment_link.description
Ekonomický růst znamená zvýšení reálného potenciálního produktu v čase. Mezi jeho hlavní zdroje patří růst výrobních faktorů a růst celkové produktivity.

# data[].attributes.attachment_link.readable_text
Fiskální (rozpočtová) politika je nástrojem hospodářské politiky v rukou vlády. Fiskální politika se zabývá utvářením jak příjmové stránky rozpočtu ( daně, cla, sociální pojištění), tak výdajovou stránkou. Rozpočet je schvalován ve formě zákona a musí být schválen Parlamentem.

Cíle fiskální politiky:

1. udržovat ekonomický růst a vysokou zaměstnanost,

2. napomáhat zachování cenové stability,

3. utlumit výkyvy hospodářského cyklu.

Nástroje fiskální politiky

Jedno z možných členění rozlišuje nástroje podle toho, zda je k jejich použití potřebné jednorázové schválení parlamentem či nikoliv.

Vestavěné stabilizátory

Po svém zavedení působí v hospodářství automaticky a nevyžadují žádná další rozhodnutí státních orgánů. Instalují se, aby napomáhaly trhu zajistit efektivní využití výrobních zdrojů a aby skutečně vyrobený produkt se co nejméně odchyloval od potencionálního produktu. Patří sem zejména:

princip progresivní daně z příjmu,

princip pojištění v nezaměstnanosti a sociální transfery,

existence subvencí do zemědělství,

státní výkup zemědělských přebytků.

Záměrná opatření (diskréční politika)

Konkrétní jednorázová nebo krátkodobá opatření vyžadující schválení parlamentem, např. změna daňových sazeb, změny ve struktuře výdajů, změny ve výši položek rozpočtu.Tyto změny vyvolají změny ve velikosti reálného hrubého národního produktu, mají tedy vliv na agregátní poptávku a nabídku. Tvoří doplněk k vestavěným stabilizátorům. Patří sem zejména:

veřejné práce a výdajové programy,

programy vytváření nových pracovních míst financovaných vládou,

konkrétní změny míry zdanění fyzických a právnických osob,

konkrétní změny v rychlosti amortizace (odpisů),

konkrétní výše sociálních dávek a transferových výdajů,

změny ve výši výdajů na státní správu apod.

Expanzivní fiskální politika

Expanzivní fiskální politika podporuje agregátní poptávku. Jedná se o snížení čistých daní, zvýšení vládních nákupů apod. Krátkodobý efekt: stát buď sníží daně, nebo zvýší své nákupy což vede k růstu hrubého národního produktu, růstu zaměstnanosti, ale často také k růstu cenové hladiny.

Dlouhodobý efekt: vede zpravidla ke zvyšování cen a tedy k inflaci, to znamená, že se nemění úroveň produktu a zaměstnanosti a, ale zvyšuje se úroveň cen.

Restriktivní fiskální politika

Restriktivní fiskální politika omezuje nebo snižuje agregátní poptávku Může se jednat o zvýšení čistých daní nebo snížení vládních nákupů. Krátkodobý efekt: snižuje úroveň cenové hladiny, snižuje produkt a zaměstnanost. Dlouhodobý efekt: působí na zvýšení soukromých investic, snížení cenové hladiny, úrokové míry, a pokud soukromé investiční výdaje plně nehradí státní výdaje na nákup, nedochází ke změně v úrovni reálného produktu a zaměstnanosti.

# data[].attributes.attachment_link.description
Fiskální (rozpočtová) politika je nástrojem hospodářské politiky v rukou vlády. Fiskální politika se zabývá utvářením jak příjmové stránky rozpočtu ( daně, cla, sociální pojištění), tak výdajovou stránkou. Rozpočet je schvalován ve formě zákona a musí být schválen Parlamentem. udržovat ekonomický růst a vysokou zaměstnanost, napomáhat zachování cenové stability, utlumit výkyvy hospodářského cyklu.

# data[].attributes.attachment_link.description
Monetární politika je nástroj centrální banky a jejím základním cílem je hlídání a aktivní ovlivňování míry znehodnocení peněz - inflace.

# data[].attributes.attachment_link.readable_text
Akcie jsou cenné papíry společností, které můžeme nakupovat nebo prodávat. Pokud chceme ale obchodovat s akciemi a slušně se s tím živit, tak budeme potřebovat poměrně velký kapitál, protože zde nemáme žádnou páku. Akcie jsou vhodné pro ty, kteří jsou konzervativní, mají velký kapitál a chtějí investovat dlouhodobě. Z akcií můžete benefitovat, pokud trefíte směr a pokud se firmě daří, tak vám vyplácí dividendy. Ne všechny společnosti ale dividendy vyplácejí. Dividendy se mohou vyplácet a pohybovat podle toho, jak se dané společnosti daří.

Definice akcie

Akcie je certifikát neboli cenný papír pomocí kterého si koupíte podíl ve společnosti. Čím více akcii vlastníte, tím větší podíl ve společnosti máte.

Jak fungují akcie?

Jako majitel akcií neboli držitel akcií máte podíl na majetku a výdělcích. Představte si člověka, budeme mu říkat Honza, který založí společnost a začne podnikat. Pro rozběhnutí nebo rozvinutí společnosti potřebuje 100 000 USD, ale nechce si je půjčit od banky. Místo toho Honza vloží do společnosti pouze 10 000 USD a najde dalších 9 investorů. Každý z nich vloží také 10 000 USD. Honza dá na oplátku každému investorovi certifikát (akcii), která představuje hodnotu 10% společnosti. Certifikát představuje 10% hodnoty z majetku firmy a budoucích výdělků. Po jednom roce se společnosti daří dobře a celková hodnota společnosti vzroste na 200 000 USD. To znamená, že každá akcie společnosti má nyní hodnotu 20 000 USD. 200 000 USD děleno 10 akcií. To je dvojnásobek původního vkladu každého investora. Investoři mohou prodat své akcie dalším investorů se 100% ziskem. Takto jednoduše fungují akcie. Akcie se kupují a prodávají každý den na hlavních burzách po celém světě.

Akcie nabízí velké možnosti obchodování, pokud chcete být konzervativnější obchodník nebo investor, tak můžete obchodovat také akciové index, které představují jednotlivé akcie. Nejznámějším akciovým indexem je S&P 500, který představuje 500 největších společností v USA. Pokud nakoupíte tento akciový index, znaméná to, jako byste nakoupili 500 akcií obsažených v indexu. To je jeden z důvodů, proč ke své analýze aktivně sleduji tento index, protože, tak jak se hýbe S&P 500, tak se hýbe 80 % akcií.

Jak obchoduji akcie?

Akcie patří k mým nejoblíbenějším nástrojům se kterými obchoduji každý den. Krom dlouhodobých investic do jednotlivých akcií a indexů obchoduji akcie převážně s opcemi. obchoduji je intradenně, swingově i dlouhodobě pomocí opčních strategií, které mi dávají exponenciálně vyšší zhodnocení s daleko menším rizikem a mnohem menším kapitálem než je potřeba pro obcodování s akciemi. Jak obchoduji akcie s opcemi se můžete dozvědět v Opční členské sekci.

Doufám, že to pomohlo.
Následující článek: Opce Předchozí článek: Komodity Futures

# data[].attributes.attachment_link.title
AKCIE - co jsou a jak s nimi vydělávat? - TradeSmart.cz

# data[].attributes.attachment_link.description
Akcie jsou cenné papíry společností, které můžeme nakupovat nebo prodávat. Pokud chceme ale obchodovat s akciemi a slušně se s tím živit, tak budeme potřebovat poměrně velký kapitál, protože zde nemáme žádnou páku. Akcie jsou vhodné pro ty, kteří jsou konzervativní, mají velký kapitál a chtějí investovat dlouhodobě.

# data[].attributes.attachment_link.readable_text
Dluhopis či obligace je cenný papír nějakého emitenta, který slibuje, že tomu, kdo si dluhopis koupí, bude vyplácen nějaký výnos, nejčastěji ročně, a že daný dluhopis odkoupí zpět za jeho nominální hodnou v určený čas (např. za pět let). Prostě dluh formalizovaný na papíru. Dluhopis lze snadno prodat a koupit - takže obchodovatelný dluh na papíru.

Státní dluhopisy (obligace) se prodávají na primárním trhu, kde stát (resp. ministerstvo financí) prodává dluhopisy účastníkům trhu, několika největším bankám a obchodníkům v České republice, většinou se používá termín „upisování". Tyto banky a fondy je pak prodávají dalším zájemcům, občanům, na takzvaném sekundárním trhu.

Kupon je obvyklý výraz pro částku, kterou se emitent zavázal zaplatit každý rok držiteli dluhopisu - čili úrok z dluhopisu. Ten se udává nejčastěji v procentech z nominální hodnoty. Takže tříprocentní kupon znamená, že dostaneme 30 korun z tisícikorunového dluhopisu. Nebo 300 000 korun z desetimilionové obligace (což je mimochodem obvyklá hodnota státních dluhopisů v ČR).

Dalším velmi důležitým termínem je požadovaná míra výnosu. Ta vyjadřuje, kolik procent zisku chceme mít z nějaké investice. Je jasné, že jinou míru výnosu požadujeme u držení akcie a jinou ze státního dluhopisu či z termínovaného vkladu. Liší se nejen ziskovostí, ale také mírou rizika, volatility, nejistoty a dále naším vnímáním inflace.

Hledá se uspokojivý výnos

Dnes je inflace cca 2 procenta a u bezrizikové investice (což státní dluhopisy jsou) nám postačí výnos jen trochu nad touto hodnotou. Pokud si tedy koupíme státní dluhopis v nominální hodnotě 1 000 Kč s ročním kuponem 3 procenta, můžeme se těšit na 30 korun výplaty kuponu každý rok. Náš výnos jsou 3 procenta, což nás uspokojuje.

Co se ale stane, když inflace stoupne? A nám nebudou stačit 3 procenta z této investice, ale budeme chtít například 4 procenta? U nově emitovaných dluhopisů je situace jednoduchá - stát nabídne vyšší úrok, zájemci si jej koupí. Ovšem u těch, které stát již prodal, které jsou mezi investory, které se přeprodávají na sekundárním trhu, se výše vypláceného kuponu nemění, ta je stále stejná, v našem případě 30 korun za tisícikorunový dluhopis.

Případný zájemce o státní dluhopis si řekne: „Třicet korun? To je malý výnos z investice tisíc korun. Chci buď zvýšit výplatu kuponu, nebo za to zaplatím méně peněz." U dluhopisu obchodovaného na sekundárním trhu ale stát nezvýší výplatu kuponu, dostaneme stále jen 30 Kč. Ten, kdo by si daný dluhopis od někoho kupoval, bude ochoten za něj zaplatit pouze 750 Kč, neboť 30 Kč z částky 750 Kč jsou přesně 4 procenta. Na sekundárním trhu poklesne hodnota tohoto dluhopisu z 1 000 Kč na 750 Kč.
A to je základ tvrzení: Při vzestupu úrokových sazeb ceny dluhopisů klesají.
Co když inflace klesá?

Nyní při stejných výchozích podmínkách funguje vše obráceně. Inflace klesne a nám postačí výnos ve výši dvou procent. Jak se změní cena drženého dluhopisu? Stačí si určit, z jak velkého základu jsou 30 Kč dvě procenta:30 Kč děleno 0,02 rovná se 1 500 Kč.
Cena dluhopisu na sekundárním trhu podstatně stoupne: Při poklesu úrokových sazeb ceny dluhopisů stoupají.
Námi uvedené příklady platí pro tzv. nekonečné dluhopisy, u kterých je neustále vyplácen kupon a nikdy nedojde ke splacení nominální hodnoty dluhopisu. Pro standardní dluhopisy, splácené nejčastěji v tří- až desetiletém horizontu, není pohyb ceny dluhopisů tak dramatický. Spočítat přesně výnosnost není problém, využije se matematického vzorce, tzv. vnitřního výnosového procenta. V uvažovaném případě 3% kuponu, vzrůstu požadovaného výnosu na 4 procenta a poklesu na 2 procenta, při pětiletém dluhopisu se cena dluhopisu sníží na 954 Kč, resp. zvýší na 1 046 Kč.

Pohyby cen dluhopisů obchodovaných na sekundárním trhu tedy závisí na očekávání účastníků trhu, co se bude dít s inflací, a tudíž s očekávaným výnosem investice do dluhopisu v nejbližším a vzdáleném období.

A co se děje nyní? Inflace je nízká, stejně jako sazby centrálních bank, nejistoty jsou vysoké a mnoho, možná až příliš mnoho investorů investuje do dluhopisů. Ceny dluhopisů jsou proto vysoko, v této nejisté a nejasné době investorům postačí i malý výnos. Ovšem zanedlouho se inflace zvýší, nejistoty ohledně celosvětové ekonomiky ubude a bude následovat pád ceny dluhopisů.

Pokyn pro drobného investora tedy zní - nenakupujte dluhopisy, nebo je dokonce prodejte. A investujte do něčeho s větší potencí výnosu - akcie, komodity, reality.

Prodejte dluhopisy - shortujte!
Aleš Müller, poradce společnosti Partners for Life Planning. Foto: profimedia.cz

# data[].attributes.attachment_link.description
Dluhopis či obligace je cenný papír nějakého emitenta, který slibuje, že tomu, kdo si dluhopis koupí, bude vyplácen nějaký výnos, nejčastěji ročně, a že daný dluhopis odkoupí zpět za jeho nominální hodnou v určený čas (např. za pět let). Prostě dluh formalizovaný na papíru. Dluhopis lze snadno prodat a koupit - takže obchodovatelný dluh na papíru.

# data[].attributes.attachment_link.description
I investice do rizikových dluhopisů s sebou nese obvykle nižší riziko než investice do akcií u společností se srovnatelným ratingem (kreditním rizikem). Je to proto, že majitel dluhopisu má výhodnější postavení než akcionář při případné likvidaci společnosti. Pokud by společnost nesplnila svůj závazek a nevyplatila vám ve sjednaný termín půjčenou částku, může být její majetek prodán a z výnosu zaplacena vaše pohledávka.

# data[].attributes.attachment_link.description
Cílem nákupu akcií je podílet se na očekávaném zvýšení hodnoty společnosti a růstu cen jejich akcií. Váš výnos bude tedy tvořen hlavně rozdílem mezi cenou akcí při nákupu a prodeji a velikost tohoto výnosu závisí na ziskovosti a růstu dané společnosti. Jednou ročně můžete obdržet dividendu, pokud ji společnost vyplácí.

# data[].attributes.body
I know that the topics we are dealing with at 212 are far more complex than those at 211 and I can understand that some students might find them rather challenging.
If, as you say, your problem is that you don´t understand the topics in Czech, I would definitely recommend that you first study them in your mother tongue and only then move to the English materials. You can try the links below this post.
Also, there are quite a lot of videos that explain the topics in this website - click on the red tile and then on the unit you would like to study more. Some of the videos explain the topics in rather student-friendly ways.
Also, if you would like me to explain again anything we have done so far, feel free to come and see me in my office hours.
And remember, there are no ridiculous questions :-).

# data[].attributes.body
Hi, last few english lessons I felt totally lost, curicullum is beginning to be very difficult and I feel like I am far behind my other classmates. Nowadays we learn more  and more about economic system and stuff and my problém is that I dont even understand these things in Czech language, so its impossible for me to talk about them in english.. please, any tips? :( (maybe ridiculous question, but some of friends of mine have the same problem...)

# data[].attributes.body
Please note that I have uploaded some materials on accounting and financial statements into unit 8. Enjoy :-)

# data[].attributes.body
You can miss 3 classes.

# data[].attributes.body
Hi. How many classes can I skip (classes on wednesday)? Thanks

# data[].attributes.body
Hi everyone, as some of you are away on Erasmus in week 9, I have decided to change the dates of the Oxford debate preparation lesson - now week 5 - and the actual Oxford debate - now week 8.

# data[].attributes.body
Hi everyone. Feel free to ask questions about the course or share ideas with your classmates and me :-).