156-0501/01 – Economic Policy A (HP A)

Gurantor departmentDepartment of Applied EconomicsCredits5
Subject guarantordoc. Ing. Jiří Balcar, Ph.D.Subject version guarantorprof. Ing. Christiana Kliková, CSc.
Study levelundergraduate or graduateRequirementCompulsory
Year2Semesterwinter
Study languageEnglish
Year of introduction2007/2008Year of cancellation2010/2011
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
FIL03 Ing. Lenka Filipová, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+2

Subject aims expressed by acquired skills and competences

• Understanding of elementary principles, possibilities and limits of economic policy • Familiarizing with selected types of economic policies and their practical application • Awakening of an influence of economic policy on microeconomic subjects and vice versa • Identification of main macroeconomic problems and suggestion of their solution • Evaluation of current economic policy and forecasting of impact of changes in economic policy

Teaching methods

Individual consultations

Summary

Economic policy represents endeavour of a state to maximize economic/social welfare. It comprehends using of different tools in order to reach often contradictory aims under the conditions of uncertainty, unequal distribution of sources, interest groups etc. Is it possible to succeed? What have to be taken into account? How to evaluate suggested measures or current situation? The course Economic Policy A sheds light on these (and many other) topics and leads to better understanding of real processes in the economy, principles of economic policy and its potential for improving people's lives.

Compulsory literature:

Rudiger Dornbusch, Stanley Fischer: Makroeconomics.McGraw-Hill 4th ed. ISBN 0-07-100186-7. McCONNEL, Campbell R. and Brue, Stanley L. Economics. Principles, Problems, and Policies. McGraw-Hill 15th ed. ISBN-0-07-234036-3.

Recommended literature:

MISHKIN, Frederic S. The Economics of Money, Banking and Financial Markets. 7th ed. USA: The Addison-Wesley, 2004. ISBN 0-321-12235-6 MANKIW, N. Gregory. Macroeconomics. 5th ed. New York: R. R: Donnelley & Sons, 2003. ISBN 0-7167-5237-9. BENASSY-QUÉRÉ, Agnes and COURÉ, Benoit and JACQUET, Pierre and PISANI-FERRY, Jean. Economic Policy. Theory and Practice. New York: OXFORD University Press, 2010. ISBN 978-0-19-532273-6. BALDWIN, Richard and WYPLOSZ, Charles. The Economics of European Integration. 3th ed. London: McGraw-Hill Higher Education, 2009. ISBN 13-978-0-07-712163-1. SHULTZ, P. Gerge and KENNETH, W. Dam. Economic Policy Beyond the Headlines. 2th ed. USA: The University of Chicago Press, 1998. ISBN 978-0-226-75599-1. BAUMOL, J. Wiliam and BLINDER, S. Alan. Economic Principles and Policy. 12th ed. Canada: Cengage Learning, 2012. ISBN 978-0-538-45369-1.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

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Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Theoretical backgroung of economic policy (Teoretická východiska hospodářské politiky (liberal versus intervention economic policy). Economic policy before Keynes and Keynesian policy. 2. Economic policy after Keynes (monetary policy, supply-side economics, etc.). Economic policy conceptions 3. Definition of economic policy, institutional environment of economic policy. Economic policy instruments. 4. Targets of economic policy and their hieararchy. Fundamental social targets. Traditional and economic targets. Relations among targets and instruments of economic policy. Efficiency of economic policy. 5. Government v. market failure. Economic and political cycle links. Phases of economic decision making and time delay. 6. Economic policy and expectations. Approaches to expectations (adaptive v. rational expectation). Recommendations for makers of economic policy. 7. Basic conceptions of economic policy. Growth raising v. stabilizing economic policy. Growth theories. Theory of business cycle. Macroeconomic and microeconomic policy. 8. Fiscal policy and its functions. Targets and instruments of fiscal policy. Theoretical approaches to fiscal policy. Public budgets and state budgets. Public debt. Fiscal policy in the Czech Republic. 9. Monetary policy and its functions. Targets and instruments of monetary policy. Direct and indirect instruments of monetary policy and their using in the Czech Republic. Transmision mechanisms of monetary policy. Inflation targeting. 10. External economic policy and its functions. Targets and instruments of external economic policy. 11. Supply-side economic policy, its foundation and approaches. 12. Comparation of economic policy development in Great Britain, France, Germany, USA, Japan, Sweeden. 13. Economic policy of EU. EU and the Czech Republic. EMU. Important world economic organizations (WTO, IMF, WB). Economic integration and its forms. 14. Economic policy development in the Czech Republic from the beginning of transition to the present. Comparation with other transition economies.

Conditions for subject completion

Full-time form (validity from: 1960/1961 Summer semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 35 (35) 16
                Written exam Written test 35  16
        Examination Examination 65 (65) 35
                Oral Oral examination 65  35
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2007/2008 (B6202) Economic Policy and Administration (6202R010) Finance (01) Finance P Czech Ostrava 2 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner