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Descriptive economics

* Exchange students do not have to consider this information when selecting suitable courses for an exchange stay.

Course Unit Code114-0358/02
Number of ECTS Credits Allocated4 ECTS credits
Type of Course Unit *Compulsory
Level of Course Unit *First Cycle
Year of Study *First Year
Semester when the Course Unit is deliveredWinter Semester
Mode of DeliveryFace-to-face
Language of InstructionCzech
Prerequisites and Co-Requisites There are no prerequisites or co-requisites for this course unit
Name of Lecturer(s)Personal IDName
FIL03Ing. Lenka Johnson Filipová, Ph.D.
Summary
The aim of the course is to acquaint the students with the state and development of the world economy in international comparison, with an emphasis on the interconnections between the various areas of the national economy. The student will be acquainted with the basic characteristics of demographic development and will understand its connection with other branches of the economy (labour market, social system, etc.). The student will understand the basic macroeconomic variables (GDP, unemployment, inflation) and will be able to make regional comparisons and a general comparison of the CR with other countries. They will acquire the basic principles of how the public budget system works, learn about the workings of public finances and understand the links between the state budget deficit and other areas of the economy.
Learning Outcomes of the Course Unit
The aim of the course is to acquaint the students with the state and development of the world economy in international comparison, with an emphasis on the interconnections between the various areas of the national economy. The student will be acquainted with the basic characteristics of demographic development and will understand its connection with other branches of the economy (labour market, social system, etc.). The student will understand the basic macroeconomic variables (GDP, unemployment, inflation) and will be able to make regional comparisons and a general comparison of the CR with other countries. They will acquire the basic principles of how the public budget system works, learn about the workings of public finances and understand the links between the state budget deficit and other areas of the economy.
Course Contents
1. Introduction to the subject, work with statistical data, primary and secondary data sources.
2. Comparison of the economic system (the Czech economy before 1989 and today): centrally planned economy in Czechoslovakia, monetary policy and foreign trade, transformation process.
3. Population development in economic context (Czech Republic in comparison with Europe): brief introduction to economic demography, population development in the context of economic development, population development projection and demographic aging, its impact on the economy.
4. Human capital and manpower: education of the Czech population, employment and unemployment of the Czech Republic in comparison with Europe, OECD countries, development of the labor market since the 1990s, context with economic development.
5. Living standard and quality of life: definition and measurement of living standards, economy of Czech households, income inequality and poverty (in comparison with Europe), security in old age and illness,
6. Pension and health care in the Czech Republic, pension systems, pension funding system, types of pensions, link to GDP creation and redistribution.
7. Health care and health care, health insurance system, health care financing in the system of GDP redistribution, expenses, international comparison, health, health facilities, founders, private health care expenses in the system.
8. The state of the environment in the Czech Republic, the context of economic development and the impact on the economy and population, comparison with foreign countries, types of pollution, old ecological burdens, development of emissions and immissions in various types of pollution in the Czech Republic and Europe.
9. Macroeconomic development: development of national economy production, nominal and real gross domestic product, GDP creation, GDP measurement, NH sector structure, economic level, international comparison.
10. Foreign trade and balance of payments, relationship of OO to GDP, structure of trade balance, ZO - territorial, commodity, ZO development since 1990, balance of services, balance of payments, development and links.
11. External relations, principles of external economic policy, openness of economy, factors influencing openness of economy, instruments of foreign trade policy, business tools autonomous and conventional.
12. The role and mission of the CNB in the economy, the CNB's objectives, price stability vs. inflation, the exchange rate of the CZK, EURO.
13. Macroeconomic development - public finances, private and public goods, public budgets, revenues and expenditures, mandatory and quasi-mandatory expenditures, state budget, public debt.
14. Education and education, education system in the Czech Republic, development of Czech education after 1990, education of the Czech population, international comparison, regional differences, development of higher education, financing of public education in the Czech Republic and in the world.
Recommended or Required Reading
Required Reading:
Czech Statistical Office. Statistical Yearbook of the Czech Republic. Prague: Czech Statistical Office, 2022. 878 s. ISBN 978-80-250-3282-4.
O'SULLIVAN, Arthur, Steven SHEFFRIN and Stephen PEREZ. Macroeconomics: Principles, Applications, and Tools. UK: Pearson, 2016. 456 p. ISBN 978-0134089027.
VAROUFAKIS, Yanis. Talking to My Daughter About the Economy: Or, How Capitalism Works-And How It Fails. UK: Random House, 2019. 224 p. ISBN 0374538492.
ČESKÝ STATISTICKÝ ÚŘAD. Statistická ročenka České republiky. 2022. Praha: Český statistický úřad, 2022. 878 s. ISBN 978-80-250-3282-4.
KŘEČKOVÁ KROUPOVÁ, Zuzana. Udržitelnost v České republice v kontextu vývoje v pokrizovém období. Praha: Oeconomica, nakladatelství VŠE, 2018. 165 s. ISBN 978-80-245-2297-5.
O'SULLIVAN, Arthur, Steven SHEFFRIN and Stephen PEREZ. Macroeconomics: Principles, Applications, and Tools. UK: Pearson, 2016. 456 p. ISBN 978-0134089027.
Recommended Reading:
RAWORTH, Kate. Doughnut Economics. Seven Ways to Think Like a 21st Century Economist. UK: Random House, 2017. 288 p. ISBN 1847941389.
SOWELL, Thomas. Basic Economics: A Common Sense Guide to the Economy. 5th edition. New York: Basic Books, 2015. 655 p. ISBN 978-0-465-06073-3.
WESSELS, Walter J. Economics. 6th Edition. UK: Simon & Schuster, 2017. 696 p. ISBN13 9781438008776.
BRČÁK, Josef, Bohuslav SEKERKA, Dana STARÁ a Roman SVOBODA. Česká republika ve světle ekonomických teorií. Praha: Aleš Čenek,s.r.o., 2012. 208 s. ISBN 978-80-7380-369-8.
JUREČKA, Václav. Makroekonomie. Praha: Grada, 2017. 368 s. ISBN 978-80-271-9265-6.
SOUKUP, Jindřich a Bedřich Rathouský. Znalostní ekonomika v České republice a Evropské unii. Praha: Management Press, 2013. ISBN 978-80-7261-267-3.
Planned learning activities and teaching methods
Lectures, Tutorials
Assesment methods and criteria
Task TitleTask TypeMaximum Number of Points
(Act. for Subtasks)
Minimum Number of Points for Task Passing
Graded creditGraded credit100 51