114-0512/01 – History of Economic Thought (HET)

Gurantor department	Department of Economics	Credits	4
Subject guarantor	prof. Ing. Martin Macháček, Ph.D. et Ph.D.	Subject version guarantor	prof. Ing. Martin Macháček, Ph.D. et Ph.D.
Study level	undergraduate or graduate	Requirement	Compulsory
Year	2	Semester	winter
		Study language	English
Year of introduction	2017/2018	Year of cancellation	2020/2021
Intended for the faculties	EKF	Intended for study types	Follow-up Master

Instruction secured by
Login	Name	Tuitor	Teacher giving lectures
JAW127	doc. Ing. Jan Janků, Ph.D.
MAH11	prof. Ing. Martin Macháček, Ph.D. et Ph.D.
SPA60	Ing. Lenka Spáčilová, Ph.D.
WRO25	Ing. Tomáš Wroblowský, Ph.D.

Extent of instruction for forms of study
Form of study	Way of compl.	Extent
Full-time	Examination	3+0

Subject aims expressed by acquired skills and competences

- outline the development of economic thinking from ancient era to the preset - argue and assess the contribution of the particular economic ideas to development of economics -recognise and formulate the distinctions between the Neoclassical School and the Keynesian School - conclude the consequences of crisis of the Keynesian theory in seventies of twenty - formulate the basic differences of nonmainstream economic theories - identify the characteristics of the Czech economic thought

Teaching methods

Lectures

Summary

The course introduces students to the development of the main directions and particular schools of economic thinking. It compares theoretical approaches to the chosen economic issues within the framework of various conceptions of economic theory. Futhermore, it provides an insight into the development of ideas concerning the history of economic thinking.

Compulsory literature:

1. EKELUND JR., Robert B. and Robert F. HÉBERT. A History of Economic Theory and Method. 6th ed. Waveland Press, 2013. ISBN 978-1478606383. 2. BACKHOUSE, Robert E. The Ordinary Business of Life: A History of Economics from the Ancient World to the Twenty-First Century. Princeton University Press, 2004. ISBN 978-0691116297. 3. BRUE, Stanley and Randy GRANT. The Evolution of Economic Thought. 8th ed. South-Western College Publications, 2012. ISBN 978-1111823689.

Recommended literature:

1. WHITE, Lawrence H. The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge: Cambridge University Press, 2012. ISBN 978-1107621336. 2. SANDELIN, Bo, TRAUTWEIN, Hans-Michael and Richard WUNDRAK. A Short History of Economic Thought. 3rd. ed. Routledge, 2014. ISBN 978-1138780200. 3. BUCHHOLZ, Todd G. New Ideas from Dead Economists: An Introduction to Modern Economic Thought. Updated ed. Plume, 2007. ISBN 978-0452288447.

Way of continuous check of knowledge in the course of semester

In case of ordered distance learning due to the adverse epidemic situation, all credit tests and exams will have to be attempted online via LMS Moodle and MS Teams, while other study requirements remain unchanged.

E-learning

Other requirements

Written test. Students successfully complete the subject if gaining at least 51 points out of 100.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Ancient Economic Thought. Scholastics. 2. Mercantilism. 3. Physiocratism. 4. Classical School of Political Economy. A. Smith. D. Ricardo. J. S. Mill. 5. Neoclassical Economics. Cambridge School. 6. Neoclassical Economics. Lausanne School. 7. Theory of Imperfect and Monopolistic Competition. 8. Stockholm School of Economics. 9. Theory of John Maynard Keynes. 10. Neo-Keynesian Theory. Post-Keynesian Theory. New Keynesian Theory. 11. Monetarism. 12. Supply-side economics. New Classical Economics. 13. German Historical School. Institucionalism. 14. Czech Economic Thought.

Conditions for subject completion

Full-time form (validity from: 2017/2018 Winter semester, validity until: 2020/2021 Summer semester)

Task name	Type of task	Max. number of points (act. for subtasks)	Min. number of points	Max. počet pokusů
Examination	Examination	100	51	3

Mandatory attendence participation: not specified

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Conditions for subject completion and attendance at the exercises within ISP:

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Occurrence in study plans

Academic year	Programme	Branch/spec.	Form	Study language	Tut. centre	Year	Type of duty
2020/2021	(N0412A050005) Finance		P	English	Ostrava	2	Choice-compulsory type B	study plan
2019/2020	(N6202) Economic Policy and Administration	(6202T027) National Economy	P	English	Ostrava	2	Compulsory	study plan
2019/2020	(N0412A050005) Finance		P	English	Ostrava	2	Choice-compulsory type B	study plan
2018/2019	(N6202) Economic Policy and Administration	(6202T027) National Economy	P	English	Ostrava	2	Compulsory	study plan
2017/2018	(N6202) Economic Policy and Administration	(6202T027) National Economy	P	English	Ostrava	2	Compulsory	study plan

Occurrence in special blocks

Block name	Academic year	Form of study	Study language	Year	W	S	Type of block	Block owner

Assessment of instruction

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