OPF:EVSBASVE World Economy - Course Information

EVSBASVE World Economy

Extent and Intensity

2/0/0. 4 credit(s). Type of Completion: zk (examination).

Teacher(s)

Dr. Ing. Ingrid Majerová (lecturer)

Guaranteed by

Dr. Ing. Ingrid Majerová
Departament of Economics and Public Administration – School of Business Administration in Karvina
Contact Person: Dr. Ing. Ingrid Majerová

Timetable

Thu 12:15–13:50 A216

Prerequisites

FAKULTA(OPF) && TYP_STUDIA(B) && (FORMA(P) || FORMA(Z))
The completion of the course does not require any conditions and subject can be registered independently of other subjects.

Course Enrolment Limitations

The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 50 student(s).
Current registration and enrolment status: enrolled: 0/50, only registered: 4/50

Course objectives

The course acquaints students with the theory of the world economy, its elements and relations and with the distribution of economic potential in particular regions of the world. Further it acquaints students with the basic tendencies of development in the global economy and their influence on national economies. The course provides fundamental information about international institutions, economic centres and their roles in the world economy, as well as information about integration processes, which take place in it. Lectures are also devoted to the characteristic and the identification of countries headed the centre of the world economy as well as developing countries and centrally planned economies. The course also acquaints with the issue related to the comparison of subjects in the global economy and defines the status of the national economy in the world economy on the example of the Czech Republic.

Learning outcomes

The student understands the basic structure, development, and functioning of the world economy from its historical origins to the present. The student is able to explain the main stages of globalization and classify countries according to their economic level and political characteristics. The student understands the fundamental principles of international trade and international monetary relations. The student is able to describe trade policies and common trade restrictions, explain international movements of capital, labour, and technology, and characterize the roles of key international economic institutions, particularly the World Bank, the World Trade Organization, and the International Monetary Fund. The student understands the main characteristics and development problems of developing countries, including poverty and external debt issues, and is able to outline possible development strategies and their basic economic impacts. The student understands the principles and historical development of centrally planned economies and can explain the main approaches to economic transformation.

Syllabus

   1.  World economy and its development 

The issue of world economy, its development form 10^th century to nowadays, growth and structure of the world economy. Classification of countries according to economic level and political status. The issue and development of globalization. Positives and negatives of globalization. 

2.  International trade and international monetary relations 

Causes of trade, trade policy of the state, restrictions in trade. World movement of capital, international labour mobility and scientific and technical knowledge, international monetary relations and their development. International organizations – World Bank, World Trade Organization, International Monetary Fund and their roles in the world economy. 

3.  Centres of the world economy 

Development and economic level of U.S., Japan and European Union and their position in the world economy. Differences and similarities of these three centres. Potential centres of world economy – China and Russia and their differences. 

4. Developing countries 

Characteristics of developing countries, tendencies and problems of their development. The vicious circle of poverty and the ways of solution. Possible growth strategies and their impacts on developing countries. Developing regions and their differences. The issue of debt and the possibly solutions of it. 

5. Centrally planned economies 

Definition and historical development of centrally planned economies, the beginning and principles. Factors of development and causes of extinction. Reforms of centrally planned economies. Gradual and shock form of transformation. 

 

Literature

required literature
• RAMGE, T. The Global Economy as You've Never Seen It. New York: The Experiment, 2018. ISBN 978-1-61519-517-6. info
• HUDSON, M. ...and forgive them their debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year. Dresden: ISLET Verlag, 2018. ISBN 978-3-9818260-2-9. info

recommended literature
• KRUGMANN, P. R., OBSFELD, M., MELITZ, M.,. International Economy. New York, 2015. ISBN 9780133826944. info
• Maddison, A. The World Economy (Development Centre Studies). OECD, 2007.
• Maddison, A. Contours of the World Economy 1-2030 AD: Essays in Macro-Economic History. Oxford University Press, 2007.

Teaching methods

Lectures, discussions, graph analysis, teamwork, presentations, collaborative learning, teaching through practical examples, case studies applied to theoretical approaches.

Assessment methods

During the seminars, the students realize the pre-assigned tasks (presentations) on the topic of the lesson for which they are scored (0-10 points, 50% of rating). Final combined exam (50% of rating)

Language of instruction

English

Further comments (probably available only in Czech)

Study Materials
The course can also be completed outside the examination period.

Teacher's information

Reach at least 50 % successfulness in a final test.
Additional tasks: research and study of the literature related to the given issue.

Activity	Difficulty [h]
Ostatní studijní zátěž	60
Přednáška	26
Zkouška	40
Summary	126

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