| Course Unit Code | 156-0381/01 |
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| Number of ECTS Credits Allocated | 4 ECTS credits |
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| Type of Course Unit * | Compulsory |
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| Level of Course Unit * | Second Cycle |
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| Year of Study * | Second Year |
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| Semester when the Course Unit is delivered | Winter Semester |
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| Mode of Delivery | Face-to-face |
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| Language of Instruction | Czech |
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| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
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| Name of Lecturer(s) | Personal ID | Name |
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| GOT40 | prof. Ing. Jaromír Gottvald, CSc. |
| FIL03 | Ing. Lenka Johnson Filipová, Ph.D. |
| Summary |
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| Learning Outcomes of the Course Unit |
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| The subject will focus on applications of theories of economic policy. Following an initial review of theoretical approaches to economic policy, the course assesses individual country cases. Besides the traditional concepts of economic policy, one will cover issues arising from recent developments, including experiences of industrial countries and policy measures implemented in response to the 2008 economic crisis. |
| Course Contents |
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1. Introduction to economic policy - establishment, institutions, goals, tools
2. Theoretical approaches to economic policy
3. Keynesian economic policy - characteristics, its practical realization mainly in Great Britain, continental Europe and USA.
4. Monetarism and supply side theory - characteristics, their practical implementation on the example of Great Britain and the USA
5. Indicative planning and welfare states - characteristics, practical application on example of France, Japan and Scandinavian countries
6. Centrally planned economies - characteristics, practical application in the world
7. Economic policy of China, Russia and Eastern Europe from the end of the 20th century to the present - transformation of economies and economic policies
8. Economic policy of China, Russia and Eastern Europe from the end of the 20th century to the present - transformation of economies and economic policies - continuation
9. Economic policy of developing countries: India, Africa, Near and Middle East
10. Economic policy of South American countries, frequent alternation of left-wing and right-wing economic policies and their impact on the economy of the countries
11. New economic policy directions applied in developed countries by the end of the 20th century to the economic crisis in 2008
12. New economic policy directions applied in developed countries towards the end of the 20th century until the economic crisis of 2008 - continued
13. Current economic policy in the world after the economic crisis of 2008 - changes in the economic policy of the EU (the Czech Republic) and the USA
14. Current economic policy in the world after the economic crisis of 2008 - changes in economic policy of China and India; changes in the global solution of developing countries' economic policies |
| Recommended or Required Reading |
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| Required Reading: |
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| BÉNASSY-QUÉRÉ, A., COEURÉ B., JACQUET, P. and JEAN PISANI-FERRY. Economic Policy: Theory and Practice. Oxford: Oxford University Press, 2010. ISBN: 9780195322736. |
| BÉNASSY-QUÉRÉ, A., COEURÉ B., JACQUET, P. and JEAN PISANI-FERRY. Economic Policy: Theory and Practice. Oxford: Oxford University Press, 2010. ISBN: 9780195322736. |
| Recommended Reading: |
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HA-JOON CHANG and PETER NOLAN. The Transformation of the Communist Economies. London: Palgrave Macmillan, 1995. ISBN 978-1-349-23916-0.
KRUGMAN, P. R., Obstfeld, M. and Marc J. Melitz. International Economics, Theory and Policy. Harlow: Pearson, 2015. ISBN: 13 978-1-292-01955-0.
WEISS, J. Economic Policy for Developing Countries. Prentice-Hall, 1995. ISBN: 13 978-0133563535.
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HA-JOON CHANG and PETER NOLAN. The Transformation of the Communist Economies. London: Palgrave Macmillan, 1995. ISBN 978-1-349-23916-0.
KRUGMAN, P. R., Obstfeld, M. and Marc J. Melitz. International Economics, Theory and Policy. Harlow: Pearson, 2015. ISBN: 13 978-1-292-01955-0.
WEISS, J. Economic Policy for Developing Countries. Prentice-Hall, 1995. ISBN: 13 978-0133563535.
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| Planned learning activities and teaching methods |
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| Lectures, Tutorials |
| Assesment methods and criteria |
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| Task Title | Task Type | Maximum Number of Points
(Act. for Subtasks) | Minimum Number of Points for Task Passing |
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| Credit and Examination | Credit and Examination | 100 (100) | 51 |
| Credit | Credit | 35 | 18 |
| Examination | Examination | 65 | 30 |