Course: History of economic theories

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Course title History of economic theories
Course code KEK/MPV01
Organizational form of instruction Lecture
Level of course Master
Year of study not specified
Semester Winter and summer
Number of ECTS credits 5
Language of instruction Czech
Status of course Compulsory-optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
  • Šíma Josef, prof. Ing. Ph.D.
  • Fuchsová Eva, Ing.
Course content
1. Ancient Greece philosophers and scholastics. 2. Mercantilism and kameralisms. 3. Natural law philosophers and physiocrats. 4. Adam Smith 5. Classical political economy: Ricardo, Marx. The German historical school of economic thought. 6. The marginalist revolution: the Lausanne School, the Cambridge School, the Austrian School. 7. American marginalists, Swedish marginalists. 8. The institutionalism and the new institutional economics. 9. The German ordoliberalisms (the Freiburg school of economics). 10. John Maynard Keynes. The Post Keynesian versus the New Keynesian theory. 11. The Keynesian theory crises and anti Keynesian revolution, monetarism dispute with Keynesian theory. The Chicago school. 12. The rational expectations school, real business cycle theory and the new Keynesian economics. 13. Public choice theory, supply-side economics. Behavioural economics, the Czech economic thinking.

Learning activities and teaching methods
  • unspecified - 26 hours per semester
  • unspecified - 26 hours per semester
  • unspecified - 26 hours per semester
Learning outcomes
This course introduces participants to the genesis of the current economic knowledge and enabling a deeper understanding. The course follows primarily a historical, rather than thematic line. After completing the course students will be able to describe the historical development of economic science in the context of philosophy and other social sciences; list the basic schools of thought in economics and identify the most significant differences among them; classify the names of selected economists, or important economic works on individual economic directions.
Upon successful completion of this course, students will be able to: - describe some important concepts of the economic thought; - identify the development of economic thought from a historical perspective and how the economic thought of one historical period has contributed to the development of economic thought in a subsequent period; - clearly identify how economic theory has developed as a result of the evolution of economic thought.

Assessment methods and criteria
- Attendance is compulsory (in accordance with the study regulations). - Evaluation based on preparation and presentation of the semester paper. - 50% according to the assessment of written work, 50% according to its presentation. The course grade will be awarded according to the total score in the range of 0-100 points based on the following grading scale: 90-100: Excellent (1) 75-89: Very good (2) 60-74: Good (3) 0-59: Fail (4)
Recommended literature
  • HOLMAN, Robert a kol. Dějiny ekonomického myšlení. Praha, 1999.
  • SIRŮČEK, Pavel a kol. Hospodářské dějiny a ekonomická teorie (vývoj, současnost, výhledy). Slaný: Melandrium, 2007. ISBN 978-80-86175-53-9..
  • SMITH, Adam. Pojednání o podstatě a původu bohatství národů. Praha: Liberální institut, 2001. 80-86389-16-2.
  • VOMÁČKOVÁ, Helena, FARSKÝ, Miroslav. Repetitorium vybraných ekonomických směrů a osobností XX. století. Ústí nad Labem: UJEP, 1993. ISBN 80-7044-047-3..

Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Social and Economic Studies Economics and Management (A) Economy 1 Winter