114-0902/04 – Theory of Economics (ET)

Gurantor departmentDepartment of EconomicsCredits10
Subject guarantorprof. Ing. Martin Macháček, Ph.D. et Ph.D.Subject version guarantorprof. Ing. Martin Macháček, Ph.D. et Ph.D.
Study levelpostgraduateRequirementCompulsory
YearSemesterwinter + summer
Study languageEnglish
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesDoctoral
Instruction secured by
LoginNameTuitorTeacher giving lectures
HAN60 prof. Ing. Jana Hančlová, CSc.
LIB009 prof. Dr. Ing. Jan Libich
MAH11 prof. Ing. Martin Macháček, Ph.D. et Ph.D.
MEL044 doc. Ing. Aleš Melecký, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Examination 42+0
Part-time Examination 42+0

Subject aims expressed by acquired skills and competences

- critical assessment of orthodox and heterodox micro- and macroeconomic theory in its historical variations - comprehension of the economic agent behaviour by means of game theory and a formalized dynamic neoclassical theory - comprehension of the dynamic stochastic general equlibrium models and their applications and alternatives - competence in the exact modelling and analyzing the economic agent behaviour by means of advanced panel econometric methods

Teaching methods

Lectures
Individual consultations

Summary

The aim of the course is to deepen the knowledge of economic theory gained from preceding intermediate microeconomics and macroeconomics courses, and to show how to critically evaluate competing modelling approaches and strategies. Attention is paid to both modern neoclassical economics and its heterodox alternatives, with a strong emphasis on the use of mathematically formulated economic models and advanced graphic tools.

Compulsory literature:

ROMER, David. Advanced Macroeconomics. 5th ed. McGraw-Hill/Irwin, 2019. ISBN 978-1260185218. VARIAN, Hal R. Intermediate Microeconomics: A Modern Approach. 9th ed., W. W. Norton & Company. New York, 2014. ISBN 978-0393919677. WICKENS, Michael. Macroeconomic Theory: A Dynamic General Equlibrium Approach. 2nd ed. Princeton University Press, 2012. ISBN 9781400842476.

Recommended literature:

COLANDER, David. (ed.) Post Walrasian Macroeconomics: Beyond the Dynamic Stochastic General Equilibrium Model. Cambridge: Cambridge University Press, 2006. ISBN 978-0-521-86548-7. FRANK, Robert H. Microeconomics and Behavior. 10th ed. McGraw-Hill. New York, 2021. ISBN 978-1259394034.

Way of continuous check of knowledge in the course of semester

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

E-learning

Other requirements

Submitting and defending two separate papers after consultation with the course leader.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Philosophy and methodology of economics. 2. Orthodox vs. heterodox economics. 3. Dynamization and agent behaviour in microeconomic models. 4. Game theory and its economic applications. 5. Historical development and problems of macroeconomic modelling. 6. Dynamic general equlibrium models, their critics and alternative approaches. 7. Panel modelling and econometrics.

Conditions for subject completion

Part-time form (validity from: 2019/2020 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Examination Examination  
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2022/2023 (P0311D050004) Economics K English Ostrava Compulsory study plan
2022/2023 (P0311D050004) Economics P English Ostrava Compulsory study plan
2021/2022 (P0311D050004) Economics P English Ostrava Compulsory study plan
2021/2022 (P0311D050004) Economics K English Ostrava Compulsory study plan
2020/2021 (P0311D050004) Economics K English Ostrava Compulsory study plan
2020/2021 (P0311D050004) Economics P English Ostrava Compulsory study plan
2019/2020 (P0311D050004) Economics P English Ostrava Compulsory study plan
2019/2020 (P0311D050004) Economics K English Ostrava Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner