114-0902/04 – Theory of Economics (ET)
| Gurantor department | Department of Economics | Credits | 10 |
| 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 | postgraduate | Requirement | Compulsory |
| Year | | Semester | winter + summer |
| | Study language | English |
| Year of introduction | 2019/2020 | Year of cancellation | |
| Intended for the faculties | EKF | Intended for study types | Doctoral |
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:
Recommended literature:
Additional study materials
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
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction