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

Gurantor departmentDepartment of EconomicsCredits4
Subject guarantorprof. Ing. Martin Macháček, Ph.D. et Ph.D.Subject version guarantorprof. Ing. Martin Macháček, Ph.D. et Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Study languageEnglish
Year of introduction2017/2018Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
JAW127 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 studyWay 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



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.


Other requirements

Written test. Students successfully complete the subject, if he has 51 points out of 100.


Subject has no prerequisities.


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)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Examination Examination 100  51
Mandatory attendence parzicipation: not specified

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Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2021/2022 (N0412A050005) Finance P English Ostrava 2 Choice-compulsory type B study plan
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 nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner