Study programmes / B-EPA Economic policy and administration / Economic Policy I
Course code:HPO1
Course title in language of instruction:Hospodářská politika I
Course title in Czech:Hospodářská politika I
Course title in English:Economic Policy I
Mode of completion and number of credits:Exam (6 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/1; part-time, 16/0
(full-time, hours of lectures per week / hours of seminars per week; part-time, lectures per period / seminars per period)
Language of instruction:Czech
Level of course:bachelor
Semester:SS 2019/2020 - FBE
Name of lecturer:Ing. Aleš Franc, Ph.D. (supervisor)
Prerequisites:Macroeconomics I
Aims of the course:The aim of this course is to appraise students of bases of economic policy. The course is concerned about creation and application of economic policy by central organs of state (central bank, government etc.) or by regional authorities. The course enlarges economic knowledge acquired in courses of microeconomics and macroeconomics. Students should understand the meaning of economic policy measures and deduce their impact on economic subjects and entire economy.
Course contents:
1.Definition of economic policy - relationship between theory and practice use; formulation of goals of economic policy, subjects, instruments, restrictions etc. (allowance 6/3)
2.Macroeconomic policy (allowance 8/5)
a.Fiscal policy - instruments and their use, government budget, deficit and methods of solving it, public debt.
b.Monetary policy - independence of central bank, modes of monetary policy, instruments of monetary policy and its use.
c.Economic policy in open economy - instruments, its use, balance of payment.

3.Policies in between of macroeconomic, microeconomic and social policy (allowance 2/1)
a.Labour policy - market failures on labour market, active and passive labour policy.

4.Microeconomic policy (allowance 2/1)
a.Anti-trust policy - definition of relevant market, selected market failures, microeconomic aspects of market barriers.

5.Social policy (allowance 4/2)
a.Definition of social policy (broader and narrower), its role in economy, types of social policy.
b.Policy of social security - systems of social insurance, state relief of the poor and social services.

6.Other selected policies with heavy impact on economy (allowance 4/2)
a.Health policy - its aims, instruments and significance for the economy.
b.Education policy - its aims, instruments and significance for the economy.

7.Economic policy interdisciplinarity and relationship between types of economic policy. The role of regions and connection with supranational organisations. (allowance 2/0)

Learning outcomes and competences:
Generic competences:
-ability to analyse and synthesize
-ability to create new ideas (creativity)
-ability to speak and write in mother tongue
-capacity to adapt to new situations
-capacity to learn
-skilled at utilizing and processing information

Specific competences:
-Student is able to assign objectives and instruments to policy makers
-Student is able to name and describe tools of fiscal and monetary politicy (and other types of economic policy)
-Student knows policy makers in the Czech Republic
-Student si able to deduce impact of selected instruments of economic policy into practice

Type of course unit:required
Year of study:Not applicable - the subject could be chosen at anytime during the course of the programme.
Work placement:There is no compulsory work placement in the course unit.
Recommended study modules:none
Assessment methods:Student has to pass an exam. Full-time students have to acquire a credit before passing the examination.
Student must acquire at least 30 points from 50. There are three ways points should be acquired: midterm test (max 30 p.), writing a paper (10 p.) and presentation of the paper (10 p.). There is one opportunity to repair credit - repetition of midterm test. Presentation and the paper cann't be repeated.
Midterm test is composed of test and open questions.

The exam consists of two parts - written and oral. Student can acquire 30 points from written part in maximum. He/she needs at least 18 points. Points acquired in written part (for full-time student plus points obtained by credit) are reflected in the final evaluation. At the oral examination the student balloted one question (one more when first isn't satisfactorily answered). The examiner asks another questions.
If student doesn't acquire minimal needed points at written part or if he/she doesn't satisfactorily answer questions at oral part, he/she must repeat the exam. There is first and second resit.
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h16 h
     practice14 h0 h
     consultation0 h20 h
     preparation for exam60 h132 h
     preparation for regular assessment10 h0 h
     preparation for regular testing20 h0 h
     preparation of presentation10 h0 h
     writing of seminar paper26 h0 h
Total168 h168 h

Basic reading list
  • DUŠKOVÁ, J. Hospodářská politika I: úvodní kurz. 1st ed. 136 p. ISBN 978-80-7375-747-2.
Recommended reading list
  • BÉNASSY-QUÉRÉ, A. et al. Economic policy: theory and practice. New York: Oxford University Press, 2010. 709 p. ISBN 978-0-19-532273-6.
  • KLIKOVÁ, C. -- KOTLÁN, I. et al. Hospodářská politika. 3rd ed. Ostrava: Institut vzdělávání Sokrates, 2012. 293 p. ISBN 978-80-86572-76-5.
  • KREBS, V. et al. Sociální politika. 5th ed. Praha: Wolters Kluwer ČR, a. s., 2010. 544 p. ISBN 978-80-7357-585-4.
  • SLANÝ, A. Makroekonomická analýza a hospodářská politika. C.H. Beck, 2003. 375 p. ISBN 80-7179-738-3.
  • TOMEŠ, Z. et al. Hospodářská politika: 1900-2007. 1st ed. V Praze: C.H. Beck, 2008. 262 p. Beckovy ekonomické učebnice. ISBN 978-80-7400-002-7.