The aim of my diploma thesis is to describe indirect methods that are used in the compilation of quarterly national accounts. The diploma thesis is divided into three parts and three chapters. The first chapter presents the theoretical background and describes the development of national accounts in the Czech Republic and the basic macroeconomic aggregates. The second chapter is devoted to the quarterly national accounts and mathematical and statistical methods that are used in their compilation. The third chapter describes in detail selected indirect methods, which consists in linking the indicator and aggregate. Consequently, this method is applied to the data of the Czech Republic and then quarterly estimates are constructed which are compared to actual values.

This diploma thesis deals with the debt crisis in the Euro Area. Thesis describes debt crisis in the eurozone in general and then crises in five most affected states - Portugal, Italy, Ireland, Greece and Spain. In addition there will be compared economic structures and macroeconomic indicators of two selected euro area countries - Spain and Italy. Thesis also contains a chapter in which opinions are expressed by several international and Czech economists. Opinions of economists in the world on the causes, consequences and possible solutions to the crisis are often diverge.

This dissertation deals with the links between stock market returns and foreign exchange rates, industrial production and exports to Germany in three Central and East European countries (the Czech Republic, Hungary and Poland). The main questions addressed are: "Do macroeconomic factors related to foreign exchange rates and industrial production affect stock market returns in the Visegrad-3? And what is the impact of exports to Germany on those stock returns?" This analysis makes use of panel-data and the Arbitrage Pricing Theory (APT) to produce results. Firstly, foreign exchange rates are found to have a negative effect on stock returns. However the divergence in currency returns between the three countries means that the overall effect may be due to some factors that are not accounted for in this analysis. Secondly, there is a positive, but lagged, association between industrial production and stock returns. Thirdly, exports to Germany from the region are also found to have a positive impact on the stock returns of the Visegrad-3. Finally, there is divergence among the three countries with respect to the relationship between the macroeconomic factors and stock returns. Poland and Hungary are seen to exert a significant amount of influence over the region's stock markets.

This master thesis, Analysis and Influences of Fundamental news on Gold Prices deals with macroeconomic variables that drive the price of gold. This paper is divided into three chapters: Possible investment forms in gold, Fundamental analysis of commodities, and lastly Analysis of impact of strong economies and their influence on gold prices. In the first chapter, emphasis is put on the Efficient Market Theory that plays an important role in success or failure of investment strategies such as technical and fundamental analysis. The second chapter illustrates the Commitment of Traders (COT) report and how it is used as a tool to predict the movement of gold prices. This chapter also discusses other large drivers effecting gold prices such as financial and geopolitical stability, inflation, interest rates, Central Banking operations, the value of the US dollar, and other influences. The final chapter analyzes the impact of announced fundamental news in the United States, China, and Europe on the price of gold. The empirical part of this paper analysis the impact of announced fundamental news in United States, China and Europe on gold prices. With the use of the linear regression method, we can test whether the macroeconomic variables significantly influence the return on gold investments immediately after their announcement, or over long periods of time. If this new public data was calculated into gold prices directly, investors would not be able to achieve additional returns by using fundamental analysis. The major findings are summed up at the end of the last chapter.

The objective of this diploma thesis is to process an analysis of financial supervision in the Czech Republic, Germany, Switzerland, Spain and Italy with special attention to banking industry which is the most influent part of the financial market in all countries. Besides this major analysis, the economic growth analysis for years 2000 to 2014 (2015) is made in every country. The very last step is a comparison of supervision systems and their connection to economic performance of countries. Conclusions bring the answer for my question: whether the economic condition (since 2000 until now) depends on the system of financial supervision in European countries. The theoretical part consists of chapters about the theory of national economy, financial markets, where there are basic theoretical concepts explained, market functions and market division. Last but not least, the theory of financial supervision is analyzed: what is the essence, legal framework, what is the supervision purpose and what are the goals of supervisors. Firstly, there should also be the theory of central banking but it does not make any sense to explain this theory here since central banks are not the main supervisor authorities of financial markets (except the Czech Republic, but also here the policies are separated). The practical part involves six subchapters, everyone is devoted to one state (the Czech Republic, Germany, Switzerland, Spain, Italy), the very last subchapter is about the comparison and analysis of results. In every state the history of financial market is processed together with institutional areas after 2000, legal framework and the analysis of supervision activity with special attention to capital, liquidity and resilience to shocks. European growth is analyzed according to GDP, inflation rate, unemployment, wage growth and GDP per capita in comparison with EU (28) and EA (19). The research brings the results that there is a connection between financial supervision and economic growth.

The diploma thesis deals with the application of statistical methods in assessing selected indicators of the company ABC, Ltd. This work is divided into three parts. The first part explains the terms related to financial indicators, macroeconomic indicators, regression and correlation analysis and also, this part of the work explains the matters of time series. The second part contains an analysis of the current state. Individual analyses of indicators and their predictions are performed in it. Also, there is a research concerning the influence of macroeconomic indicators on the financial performance of ABC, Ltd. In The last part of this diploma thesis, changes are proposed that should lead to the improvement of the current situation of the company.

The diploma thesis focuses on evaluation of foreign trade between the Czech Republic and Angola during the period from 2002 to the present. I achieved it through data and information acquired from Czech and Angolan institutions concerned with similar issues. In addition to the evaluation also a SWOT analysis was undertaken to illustrate the strengths, weaknesses, shortcomings and opportunities of the Czech companies operating in the Angolan market. Finally, this thesis focuses on the potential solutions, that could improve the business relations between both countries in the near future.

Tato diplomová práce pojednává o politických, ekonomických a především sociálně-kulturních aspektech, které mají vliv na mezinárodní obchod, organizace a marketing týkající se Ruské federace, jež jsou dány do kontextu zejména s Českou republikou (eventuálně jinými relevantními státy). Cílem mé práce je nalézt překážky v obchodu s Ruskou federací a způsob jakým je možné je překonat. Důraz primárního výzkumu mé práce bude kladen na interkulturní složku, konkrétně na rozdíly v organizačním chování a chování spotřebitele. Zaměřím se na specifický profil potenciálních účastníků v oblastech marketingu a obchodu. Zohledním také znalosti z nashromážděných dat o politicko-ekonomickém prostředí zemí. Použitím vybrané metodologie rozšířím teoretické podklady a sekundární výzkum o nové poznatky a v širším kontextu vyvodím závěry a návrhy pro optimalizaci bariér, kterým firmy jsou rozšiřující pole působnosti do Ruska vystaveny a jimž mohou čelit.

This dissertation thesis consists of three essays on new EU foreign exchange markets (FX), i.e. the Czech koruna, Polish zloty and Hungarian forint. In the first two essays, the impact of foreign macroeconomic news announcements and central banks' monetary policy settings on the value and volatility of examined exchange rates is analyzed. In the third chapter, the conditional comovements and volatility spillovers on new EU FX markets is examined. The aim of this thesis is to contribute to the existing empirical literature by providing new evidence of the examined currencies during periods, which have not been examined yet (after the Global financial crisis (GFC), during the EU debt crisis and during currency interventions in the Czech Republic). The first essay (Chapter 2) examines the impact of Eurozone/Germany and US macroeconomic news announcements and monetary policy settings of the ECB and the Fed on the value of new EU member states' currencies. It is a complex analysis of 1-minute intraday dataset performed by event study methodology (ESM). We observe different reactions of exchange rates in pair with the US dollar on the US macroeconomic announcements and Euro-expressed FX rates on Germany macro news during the EU debt crisis and after it. We also provide evidence of leaking news, showing...

III Title: Determinants of Residential Development Prices in Prague Author: David Mazáček Department: Institute of economic studies Diploma Theises Supervisor: PhDr. Pavel Streblov, MSc. Supervisor's e-mail address: streblov@pentainvestmens.cz Abstract: This thesis analyzes the progression and current situation on the Prague new residential development market. The beggining of the thesis is focused on performance of new residential development market in Prague and its comparison with other cities in European union including different housing standards and its economical severity. Performance analysis and current situation on the market indicate the presence of real estate bubble in past years on Prague market. This bubble has even deepened the problems on the market caused by the European economic crisis, however currently there is slow upsarge on the residential real estate market in Prague. Remaining two chapters are focused on relations between performance of residential development price per sqm in Prague and the performance of macroeconomic determinants in the range of income, financing or subsitutionary housing solution. This relation is explored through the econometric model, that explains the average aggregate price per sqm of new residential development in Prague through its macroeconomic...