Study programmes / B-EPA Economic policy and administration / Reforms of Czech and Global Economy
Course code:REK
Course title in language of instruction:Reformy české a světové ekonomiky
Course title in Czech:Reformy české a světové ekonomiky
Course title in English:Reforms of Czech and Global Economy
Mode of completion and number of credits:Exam (4 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/1
(full-time, hours of lectures per week / hours of seminars per week)
Language of instruction:Czech
Level of course:bachelor
Semester:WS 2018/2019 - FBE
Name of lecturer:doc. Ing. Luděk Kouba, Ph.D. (supervisor)
Prerequisites:Macroeconomics I
Aims of the course:There are many challenges for the Czech economy at the beginning of the 21st century: structural crisis of public finance, adverse demographic trends, strong competition of low-cost countries in contemporary globalized world economy. Thus, the Czech Republic as well as most of the countries in the European Union needs important reforms. The aim of this subject is to describe these challenges in a broader context and discuss both possible solutions and causes that negatively affect the realization of reforms. The subject deals with two main themes: reforms of public finances and social systems in the context of ageing of population and knowledge economy development. The subject is a follow-up to Macroeconomics I and Microeconomics I and connects the theoretical knowledge in the context of current economic development. Student also acquire a better awareness of Czech, European and world economy. The subject is a precondition for a successful study of economic subjects in the Master's degree.
Course contents:
1.Why do we need reforms in the 21st century? (allowance 6/2)
a.globalization, competition of low-cost economies, public finance structure, ageing of population, health care system funding, raw material crisis, environmental problems etc.

2.Theoretical foundations of reforms (allowance 4/0)
3.Reforms of public finance in the Czech Republic (allowance 0/2)
a.topical challenges vs. implemented reformatory measures

4.Ageing of population and its economic consequences (allowance 2/2)
a.theoretical concepts of pension schemes, theoretical concepts of health care systems funding, economic impacts of ageing, alternative scenarios of reforms

5.Current crises of public finances in European countries (allowance 0/2)
a.the subject is adjusted to current situation (Hungary 2009, Greece 2010-2012 etc.); causes, course and solutions of the crises; broader context and impacts of the crises, e.g. impact of Hungarian crises on investor's trust in the whole region of Central and Eastern Europe; impact of Greek crises on credibility of Euro and so on;

6.Causes that negatively affect the realization of reforms in economic theory (allowance 4/0)
a.concepts of behavioural economics, new institutional economics, new political economy

7.Causes that negatively affect the realization of reforms in the Czech Republic (allowance 2/2)
a.importance of election system, influence of lobbies and interest groups in the Czech Republic, behavioural aspects

8.Knowledge economy (allowance 4/0)
a.basic terms, theories, definitions; knowledge economy and "second transition", knowledge economy and Lisbon strategy

9.Knowledge economy in Scandinavia (allowance 2/1)
a.Scandinavian model: interventionism and competitiveness; successful examples of knowledge economy, phenomenon of Nokia and structural reforms of Finnish economy

10.Knowledge economy in the Czech Republic and in Central Europe (allowance 2/2)
a.comparison with successful countries; causes of retardation and related threats

11.China and India in world economy in the 21st century (allowance 2/1)
a.comparison focused on development of human capital and features of knowledge economy

Learning outcomes and competences:
Generic competences:
-ability to analyse and synthesize
-ability to apply knowledge
-capacity to learn
-general knowledge
-science and research skills

Specific competences:
-Student improves his ability to argue on economic matters within a group discussion
-Student is able to consider particular economic issues within broader context
-Student obtains knowledge of a new phenomenon of knowledge economy
-Student obtains knowledge of alternative concepts of institutional economics and political economy

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 obtains credits based on writing an essay dealing with a topical issue. The subject is closed with written exam (min. 50%) which could be supplemented with oral part of the exam.
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendance
Direct teaching
     lecture28 h
     practice14 h
     preparation for exam28 h
     preparation for regular assessment8 h
     preparation of presentation12 h
     elaboration and execution of projects8 h
     writing of seminar paper14 h
Total112 h

Basic reading list
  • DVOŘÁK, P. Veřejné finance, fiskální nerovnováha a finanční krize. 1st ed. V Praze: C.H. Beck, 2008. 343 p. Beckova edice ekonomie. ISBN 978-80-7400-075-1.
Recommended reading list
  • KLVAČOVÁ, E. -- MALÝ, J. -- MRÁČEK, K. Základy evropské konkurenceschopnosti. 1st ed. Praha: Professional Publishing, 2007. 118 p. ISBN 978-80-86946-54-2-.
  • HOBZA, A. Evropská unie a hospodářské reformy. 1st ed. V Praze: C.H. Beck, 2009. 352 p. Beckova edice ekonomie. ISBN 978-80-7400-122-2.
  • When do politicians want reforms?: political institutions and incentives for economic reforms. Saarbrücken, Germany: VDM Verlag Dr. Müller, 2008. 208 p. ISBN 978-3-639-11242-9.
  • MUSIL, P. Globální energetický problém a hospodářská politika: se zaměřením na obnovitelné zdroje. 1st ed. Praha: C.H. Beck, 2009. 204 p. Beckovy ekonomické učebnice. ISBN 978-80-7400-112-3.