LA301Zk Economics and Economic Policy

Faculty of Law
Spring 2011
Extent and Intensity
0/0. 10 credit(s). Type of Completion: zk (examination).
Teacher(s)
prof. Ing. Martin Kvizda, Ph.D. (lecturer)
prof. Ing. Antonín Slaný, CSc. (lecturer)
prof. Ing. Zdeněk Tomeš, Ph.D. (lecturer)
Guaranteed by
prof. Ing. Antonín Slaný, CSc.
Faculty of Law
Contact Person: Bc. Alžběta Rašková
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
Course objectives
2. Aims of the Module The module is drawn up to develop knowledge of foundations of economic theory, especially macroeconomics, to apply it to case studies and to link it with knowledge gained gradually in the fields of law and public economics. The principal goal of the module is to teach students to use general economic, macroeconomics and empirical data to analyses and assessments of real economic phenomena and state interventions. After completing the module students should have the basic knowledge of the history of the theory and practice of economic policy and of results of its application and comparison in world economies. They should be able to analyze the basic aims of economic policy and to assess costs of their achieving and to know alternatives of their achieving. 6. Learning Outcomes After completion of the module the students should be able to: • To be able to use economic, in particular macroeconomic, terminology • To explain economic processes and operation of economic policy in market economy • To discuss real economic processes at the macroeconomic level • To be able to analyze the development of economy in the basic context • To understand the internal development of economy in the context of the world development • To discuss the basic context of the development of practical economic policy
Syllabus
  • • Economics and economic policy. Theoretical and practical economic policy. The process of creating economic policy. Possibilities and limits of economic policy. Efficiency of economic policy. • Coordination of economics and economic-political conception. • Markets and government. Public choice. Political context of economic policy. Political ideologies. Bearers of economic policy and influence of interest groups upon creation of economic policy. • The interventionist period in the development of modern economic policy. Application in practical economic policy after World War II. The crisis of Keynesianism in the 1970s. • The neoconservative period in the development of modern economic policy. Application in practical economic policy and assessment. • The current world trends and economic policy. • Policy of stabilization. Forms of stabilization policy. Economic and political cycle. Costs and efficiency of stabilization policy. The relationship of fiscal and monetary policies and their coordination in theory and practice. • Fiscal policy. Goals of practical fiscal policy. Mechanism of fiscal policy. • Public finance and public budget. Public revenue and expenditures. Sources of finance of public expenditures, deficit finance, public debt, debt monetization. • Currency policy. The status of the central bank, causes and criteria of assessing and forms of its independency. Credibility, transparency and responsibility of the central bank. The status of the Czech National Bank and the European Central Bank. Conceptions of the goal of currency policy, conformity of the goals of stabilization policy. • External economic policy. Instruments and types of external economic policy. The relationship of external and internal balances and possibilities of dealing with imbalance. Balance of payments and its elementary analysis. External imbalance and its causes. • Policy of economic competition – theoretical foundations and practical competition policy. Causes and forms of limitation of competition, microeconomic and macroeconomic aspects. Cartel agreements. Areas of operation of competition policy, lawful restrictions in the area of competition. The process of proving undesirable conduct of competitors. Fusions and their assessment. • Structural and regional policy. Structural changes and their causes. Structural crisis. Traditional and new approaches to structural policy. Problems linked with implementation of structural policy. Regional aspects of structural policy. • Social policy. Solidarity, conception of the goals of social policy and the role of the state and public institutions. Comparison of theoretical conceptions of social policy. Areas and types of practical social policy. Effectiveness and costs of social policy.
Literature
  • SLANÝ, Antonín and Aleš FRANC. *Hospodářská politika (Economic policy). 1st ed. Brno: Masarykova univerzita v Brně, 2004, 122 pp. 3984/ESF-24/04-17/99. info
  • HILDS, R., R. HOLMAN and S. HRONOVÁ. Ekonomický slovník. In ŠEDOVÁ, Jindřiška and Simona EICHLEROVÁ. Ekonomický slovník. Praha: C.H.Beck, 2003, 30 pp. ISBN 80-7179-81. info
  • SLANÝ, Antonín. Makroekonomická analýza a hospodářská politika (Macroeconomic Analysis and Economic Policy.). 1st ed. Praha: C. H. Beck, 2003, 380 pp. EU 22. ISBN 80-7179-738-3. info
Teaching methods
Range of Modes of Contacts: Lectures, use of commented presentations, group discussions, group seminar activities, brainstorming, case studies. Range of Other Learning Methods: Independent learning, self-study, elaboration of the written assignment, individual consultations.
Assessment methods
Type and Weighting of Assessment Elements: 100 % written assignment Further information on assessment Active participation in module seminars includes the debate concerning individual topics, which is highly appreciated, the knowledge of case studies, written assignments. Expected Form of Feedback: Formative and summative feedback will be provided to each student individually. Written comments with individual coursework assignments. Oral feedback upon request.
Language of instruction
Czech
Further Comments
The course is taught each semester.
The course is also listed under the following terms Autumn 2008, Autumn 2009, Autumn 2010, Autumn 2011, Spring 2012, Autumn 2012, Spring 2013, Autumn 2013, Spring 2014, Autumn 2014, Spring 2015.
  • Enrolment Statistics (Spring 2011, recent)
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