Course: Development of Economic Theories

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Course title Development of Economic Theories
Course code UEV/PVET
Organizational form of instruction Lecture
Level of course Master
Year of study 2
Semester Summer
Number of ECTS credits 4
Language of instruction Czech
Status of course Optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
  • Volejníková Jolana, doc. Ing. Ph.D.
Course content
Attributes of economics as a science. Interconnection of economic thinking with philosophy and ethics. Mercantilists, natural law philosophers, physiocrats. Classic political economics and Adam Smith's work. Great schism and marginal revolution. Schools grown from marginal revolution. Austrian school. American institutionalism and new institutional economics. John Maynard Keynes and Keynesianism. Further development of Keynesianism. Schools of anti-Keynesian revolution. "Chicago School" and its representatives. School of public choice. Actual situation and problems of contemporary standard economics.

Learning activities and teaching methods
Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Work with text (with textbook, with book), Methods of individual activities
Learning outcomes
The aim of the course is to acquaint the students with complex overview of genesis and development of particular economic schools on the basis of understanding period socioeconomic circumstances of genesis, decline or modification of particular economic theories.
Students will understand causes of genesis, eventually decline, development and content of the key theories of economic directions or schools, furthermore, they will be able to compare alternative theories with the theory of "mainstream" economic thinking and understand methodological differences, its causes and reflex in the economic-political practice.

Assessment methods and criteria
Written examination, Student performance assessment

The condition for granting the examination is passing the written test.
Recommended literature
  • FUCHS, K., LISÝ, J.:. Hlavní směry ekonomického myšlení (do vzniku neoklasické ekonomie). Brno: Masarykova Univerzita v Brně, 2000.
  • HOLMAN, R. A KOL.:. Dějiny ekonomického myšlení. Praha: C. H. Beck, 1999.
  • SIRŮČEK, P.:. Hospodářské dějiny a ekonomická teorie: (vývoj, současnost, výhled). Slaný: Melandrium, 2007.
  • SOJKA, M. A KOL.:. Dějiny ekonomických teorií. Praha: Karolinum, 2002.
  • VOLEJNÍKOVÁ, J.:. Moderní kompendium ekonomických teorií. Praha: Profess Consulting, 2005.

Study plans that include the course