634-0935/01 – Theory of Economics (TE)
| Gurantor department | Department of Economics and Management in Industry | Credits | 10 |
| Subject guarantor | doc. Ing. Šárka Vilamová, Ph.D. | Subject version guarantor | doc. Ing. Šárka Vilamová, Ph.D. |
| Study level | postgraduate | Requirement | Choice-compulsory |
| Year | | Semester | winter + summer |
| | Study language | Czech |
| Year of introduction | 2006/2007 | Year of cancellation | 2023/2024 |
| Intended for the faculties | HGF, FMT | Intended for study types | Doctoral |
Subject aims expressed by acquired skills and competences
Student will know the concepts knowledge market mechanism function, and behaviour of consumers and firms in the market environment, creation of balance between a firm and the market in various market situations and the basic context of balancing the production factors markets.
From the point of view of skills, students will have the summary of the economic function of the state, targets and instruments of economic policy, basic context of monetary policy, fiscal policy, external business and incomes policy.
Teaching methods
Lectures
Seminars
Project work
Summary
Microeconomics - The initial part, serving as an introduction to studying economics at the same time, concentrates on defining the subject of economics and methods, characteristics and functions of economy. The course's central point lies in an analysis of market mechanism function, and behaviour of consumers and firms in the market environment. Explanation will be provided for conditions of creation of balance between a firm and the market in various market situations and the basic context of balancing the production factors markets. Macroeconomics deals with measuring national economy performance, problems connected with economic equilibrium, and causes and manifestations of cyclical oscillations. The following part of the course explains the nature of money, structure of the banking system and basic conditions of inflation. It explains the economic function of the state, targets and instruments of economic policy, basic context of monetary policy, fiscal policy, external business and incomes policy.
Compulsory literature:
[1] Mils, J.: Critical History of Economics. Basingstoke, Palgrave Macmilan 2002
[2] Roll, E.: A History of Economic Thought. London, Faber and Faber 1992
[3] Samuelson, P.A. - Nordhaus, W.D.: Economics, McGraw Hill, 1989
Recommended literature:
[1] Blaug, M.: Economic Theory in Retrospect. 5. vydání. Cambridge, Cambridge University Press 1999
[2] Blaug, M. - Vane, H.R. (eds.): Who’ s Who in Economics. 4. vydání. Cheltenham, Edward Elgar 2003
[3] Dow, S.C.: The Methodology of Macroeconomic Thought. A Conceptual Analysis of School of Thought in Economics. Cheltenham, Edward Elgar 1996
[4] Dow, S.C.: Economic Methodology: an Enquiry. Oxford, Oxford University Press 2002
[5] Eatwell, J. - Milgate, M. - Newman, P. (eds.): The New Palgrave A Dictionary of Economics. Volume 1 (A to D). Volume 2 (E to J). Volume 3 (K to P). Volume 4 (Q to Z). New York, Palgrave Publishers 2002
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
Processing project set topic
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. The definition of economics as a scientific discipline, institutional environment and economics holders. 2. Economics - targets and their hierarchy. The basic social tragets. Traditional and economic targets. 3. The theoretical basis of economics. 4. Liberal vs. interventionist economic policy. 5. Mercantilism, physiocracy, classical school, the neoclassical school and Keynesian economic policy. 6. Monetarism, supply-side economics, public choice school, the school of rational expectations. 7. Government versus market failure as the arguments for and against maximizing the state's role in the economy. 8. The basic concept of economic policy. The pro-growth versus stabilization policy. Factors and sources of economic growth. 9. Fiscal policy and its functions. Carriers, targets and instruments of fiscal policy. Automatic stabilizers versus discrete measures. 10. Monetary policy and its functions. Carriers and targets of monetary policy. Direct and indirect monetary policy instruments and their use in the country. Inflation targeting and pure inflation. Central bank independence. Monetary policy of CNB.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction