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Lecturer(s)
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Smutka Luboš, prof. Ing. Ph.D.
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Course content
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History: development and structure of the world economy from the past to the present The process of transformation of the world economy through the models ASI - AIS - IAS - ISA - SIA. Models of economic growth - economic imbalance. o Typology of economies, transformation models The process of transformation, globalization, internationalization of the world and regional economy. Determining trends of globalization (Liberalization, FDI, Migration, Demography) with emphasis on the shift from the concept of nationally oriented economies to the concept of supranational / international economy. o Economic development / Structural changes Sectors. GDP. Economy power. Foreign trade (FT). Economy level. Commodities. Productivity. Overview of the development of real and nominal values of selected indicators and the influence of selected factors on their development. Discussion of the relationship among selected indicators and their interpretation. o Disparities in the world economy Gini coefficient. Income. Property. Wealth. Consumption. Regions and states (through the model Economic Trinity - regional and national concept). Inequality (TNC, Disparities G7 vs. E7). Transfer of economy and political power at the level of regions, and selected groups of countries. Model of multipolar oriented economy / society. o The role of "debt" in the context of economy development States, FT, families. Public and private debt, its importance and role in shaping the modern economy. Debt as a tool for economy growth. o Periodicity of economy and financial crises Causes - natural, climatic, social. Actors, market failures: externalities, barriers to trade, dumping, the logic of economic calamities. The role and importance of the economic crisis in relation to the economic cycle and the process of transformation of the modern economy. o Demographic aspects of economy development The influence of population development on the economy of the supply and demand side. The crisis of population growth in the world and in the regions. o World trade: the changing role of trade in society and the economy Agrarian trade, Trade in non-agricultural products, Trade in services. Negotiations at the level of GATT and WTO in relation to shaping the character of the world economy. The role and importance of the Uruguay Round of GATT and the Doha Development Agenda.
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Learning activities and teaching methods
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unspecified
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Learning outcomes
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The aim of the course is to involve students into the problems associated with the process of transformation of the world economy. The character of the global economy is influenced by many relevant factors. The most important are the following: globalization, liberalization, industrialization, internationalization etc. Those processes have been influencing both developed and developing economies. In nowadays, it is necessary to pay fundamental attention to the issue of formation and transformation of international economic relations. The key idea of proposed course is focused on introduction into basic theoretical approaches and also to provide a basic overview of past, present and future state of the world economy. The overview is provided not only at the level of the global economy, but also at the level of individual regions and countries. Very important part of provided lectures is discussion related to the process of transformation, respectively globalization and internationalization at the level of individual economies (economies of developed countries vs. economies of developing countries and then also "large" economies vs. "small" economies). Another important topic is devoted to existence of a conflict between the traditional approach to the perception of the economy in national intentions vs. the globalized concept of the economy (the emphasis is placed on the existence of conflict between so-called national interests and global and supranational interests).
Students will be able to understand not only theoretical approaches to the issue of economic transformation, but they will also gain an overview of the issues of alternative approaches or theories associated with the transformation process. Also, they will be able to perceive differences in the process of transformation existing among different types of economies, or among different groups of countries (according to selected characteristics).
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Prerequisites
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unspecified
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Assessment methods and criteria
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unspecified
Credit requirements: During the study, the student prepares a project on a selected topic and then presents the most important outputs resulting from their own project. The presentation is subjected to a subsequent discussion and analysis of possible mistakes and shortcomings. Test requirements: Students' knowledge is verified through a discussion aimed at verifying the level of knowledge of the necessary theory and the subsequent ability to apply it in relation to the current political and economic situation in the world.
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Recommended literature
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Ekelund, R. B., Hébert, R. F. A history of economic theory and method. Waweland, 2014.
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Hite, K. A., Seitz, J. L., & Seitz, J. L. Global issues: An introduction. Hoboken, NJ: Wiley-Blackwell, 2016.
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Krugman, P. R., Obstfeld, M., Melitz, M. J., & Krugman, P. R. International trade: Theory & policy. London: Pearson Education, 2018.
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Mansfield, E. D. The political economy of international trade. World Scientific Studies in International Economics. Vol 46, 2015.
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Neumann, P., Žamberský, P., & Jiránková, M. Mezinárodní ekonomie: Mezinárodní obchod, pohyb výrobních faktorů, obchodní politika, měnový kurz, vnější ekonomická rovnováha, mezinárodní měnový systém. Praha: Grada, 2010.
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Schneider, C. J. The political Economy of Regional Integration. Annu. Rev. Polit. Sci. 20,229?48.
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Štěrbová, L. Mezinárodní obchod ve světové krizi 21. Století. Praha: Grada, 2013.
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Todaro, M. P., & Smith, S. C. Economic development. London: Pearson Education, 2015.
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