The publication introduces the reader to the most important issues of the theory of national economy. The text deals with problems of measuring national output, with money, inflation, business cycles, economic growth as well as the exchange rate. Furthermore the textbook explains the role of the state in the market economy, especially with a view to fiscal and monetary policy. The second part of the book presents the national economic development of the Czech lands since the beginning of the 19th century till now. Many experts have contributed to the publication, such as Ing. Jan Kubíček, Ph.D. from Czech National Bank, and prof. Ing. PhDr. Ing. Vladimír Tomšík, Ph.D., Ph.D., Vice-Governor of the Czech National Bank among others.