| Course Unit Code | 114-0379/01 |
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| Number of ECTS Credits Allocated | 5 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 * | First Year |
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| Semester when the Course Unit is delivered | Summer 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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| FIL03 | Ing. Lenka Johnson Filipová, Ph.D. |
| JAW127 | doc. Ing. Jan Janků, Ph.D. |
| Summary |
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| The aim of the course is to acquaint students with the causes of the current distribution of economic forces of nations and states, their economic development and growth. Students learn not only about the direct factors of economic growth, such as capital, human capital, and technological progress, but also about fundamental factors such as geographical, cultural, institutional factors, and luck. |
| Learning Outcomes of the Course Unit |
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- understanding of models of economic growth (Solow model, new theory of growth)
- understanding of the differences between proximite and fundamental factors of economic growth in the countries
- the ability to explain the causes of differences in the economic level of the countries, both in terms of historical development and current problems
- ability to describe and explain the impact of geographical, cultural and institutional factors of economic growth
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| Course Contents |
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1. Explanation of terms economic growth and development, chronology of development of the theoretical trends concerning economic growth and their basic description; Solow's model.
2. New Growth Theories - Models with Extended Capital Definition: AK Models, Capital Externality (Romer 1986), Models with Human Capital Accumulation (Robert E. Lucas 1988) and Mankiw, Romer and Weil (1992).
3. New Growth Theories - Models of Technological Progress Endogenization: Paul M. Romer (1990), R & D Models, Schumpeter's Growth Models.
4. Proximity (human and physical capital, technological progress) versus fundamental factors of economic growth - path dependence, geographical factors, culture, institutions.
5. Path dependence, 3 epochs of economic development (Malthusian trap, Industrial Revolution, "Great Divergence").
6. Economic History of Europe, Africa, America and Asia to the 20th Century.
7. 20th Century – until now: Great Divergence - Century of rapid change in economic development and regional growth. Characteristics of the causes of these changes. Characteristics and Comparison of Economic Development and Long-Term Growth of Advanced, Emerging and Poor Economies
8. 20th Century – until now: Great Divergence - Century of rapid change in economic development and regional growth. Characteristics of the causes of these changes. Characteristics and Comparison of Economic Development and Long-Term Growth of Advanced, Emerging and Poor Economies - continuation.
9. Geographical factors of economic growth - Nature and natural conditions as a fundamental factor of economic growth and development, models
10. Models of the impact of culture on long-term economic growth and development
11. Political Economy of Growth. Institutions, political regimes and their impact on long-term economic growth.
12. Models of income inequality and poverty impact on economic growth and development.
13. Current problems and their impact on further economic development: globalization and economic development; Theory of the impact of globalization on the economic growth of developing countries.
14. Global solutions to the issues of economic development, the effectiveness of development aid - institutions, policies, objectives, tools.
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| Recommended or Required Reading |
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| Required Reading: |
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ACEMOGLU, D. Introduction to modern Economic Growth. Princeton: Princeton University Press, 2009. 990 p. ISBN: 978-0-691-13292-1.
SCHWAB, Klaus and Peter VANHAM. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet. Hoboken, New Jersey: Wiley, 2021. 304 p. ISBN 978-1119756132.
WEIL, David N. Economic Growth. London: Routledge, 2019. 586 p. ISBN 978-0321795731.
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JUREČKA, Václav a kol. Makroekonomie. Praha: Grada, 2022. 368 s. ISBN 978-80-271-0251-8.
MANKIW, Gregory N. Zásady ekonomie. Praha: Grada, 2022. 763 s. ISBN 978-80-7169-891-3.
WEIL, David N. Economic Growth. London: Routledge, 2019. 586 p. ISBN 978-0321795731. |
| Recommended Reading: |
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BERNARDELLI, Michal et al. Economic Growth and Convergence. Global Analysis through Econometric and Hidden Markov Models. London: Routledge, 2021. 196 p. ISBN 9780367774905.
CAMERON, Rondo and Larry NEAL. A Concise Economic History of the World. 5th ed. Oxford: Oxford University Press, 2016. ISBN: 9780199989768.
UNDP (United Nations Development Programme). 2022. Human Development Report 2021-22: Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World. New York.
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HOLMAN, Robert. Makroekonomie - Středně pokročilý kurz. Praha: C.H.BECK, 2018. 424 p. ISBN 978-80-7400-541-1.
OLSON, Mancur. Vzestup a pád národů: ekonomický růst, stagflace a společenská rigidita. Praha: Liberální institut, 2008. 251 p. ISBN 978-80-86389-51-6.
SOUKUP, Jindřich. Makroekonomie. Praha: Management Press, 2022. 536 s. ISBN 978-80-7261-537-7.
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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 | 25 | 1 |
| Examination | Examination | 75 | 1 |