114-0558/02 – Descriptive economics (DEK)

Gurantor departmentDepartment of EconomicsCredits4
Subject guarantorIng. Lenka Johnson Filipová, Ph.D.Subject version guarantorIng. Lenka Johnson Filipová, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semesterwinter
Study languageEnglish
Year of introduction2020/2021Year of cancellation
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
GOT40 prof. Ing. Jaromír Gottvald, CSc.
FIL03 Ing. Lenka Johnson Filipová, Ph.D.
PAK0010 Ing. Daniel Pakši
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Graded credit 2+1

Subject aims expressed by acquired skills and competences

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.

Teaching methods

Lectures
Tutorials

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.

Compulsory literature:

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.

Recommended literature:

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.

Way of continuous check of knowledge in the course of semester

Written test The same conditions apply to students with ISP.

E-learning

Other requirements

No other requirements.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

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.

Conditions for subject completion

Full-time form (validity from: 2020/2021 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Graded credit Graded credit 100  51 3
Mandatory attendence participation: Attendance at lectures and seminars is not mandatory.

Show history

Conditions for subject completion and attendance at the exercises within ISP: The same conditions apply to students with ISP.

Show history

Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2024/2025 (B0412A050006) Finance P English Ostrava 1 Compulsory study plan
2023/2024 (B0412A050006) Finance P English Ostrava 1 Compulsory study plan
2022/2023 (B0412A050006) Finance P English Ostrava 1 Compulsory study plan
2021/2022 (B0412A050006) Finance P English Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner
Incoming students- BS 2023/2024 Full-time English Choice-compulsory 163 - International Office stu. block
Incoming students- BS 2022/2023 Full-time English Choice-compulsory 163 - International Office stu. block

Assessment of instruction



2022/2023 Winter