Course: Economic Thought 2

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Course title Economic Thought 2
Course code KAE/EM2
Organizational form of instruction Seminar
Level of course Bachelor
Year of study not specified
Semester Winter and summer
Number of ECTS credits 3
Language of instruction Czech
Status of course Compulsory-optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Lecturer(s)
  • Slavíčková Pavla, doc. Mgr. Ph.D.
  • Müller Michal, Mgr. Ph.D. et Ph.D.
Course content
1. Adam Smith and the emergence of modern political economy 2. Classical economics (Ricardo, Malthus, Mill) 3. Critique of classical economics and Marxism 4. Marginalist revolution and the emergence of neoclassical economics 5. Institutionalism and the historical school 6. Keynesian revolution 7. Neoclassical synthesis and postwar economics 8. Monetarism and new classical economics 9. New directions: behavioral, institutional and evolutionary economics 10. Contemporary economics and major debates 10. Anne Robert Jacques Turgot 11. Scottish Enlightenment and the theory of luxury 12. Conclusion - Summary For texts see Moodle KAE.

Learning activities and teaching methods
Monologic Lecture(Interpretation, Training), Dialogic Lecture (Discussion, Dialog, Brainstorming), Work with Text (with Book, Textbook)
  • Homework for Teaching - 15 hours per semester
  • Attendace - 24 hours per semester
  • Preparation for the Course Credit - 36 hours per semester
Learning outcomes
The aim of the course is to familiarize students with the development of economic thought from the emergence of modern political economy and classical economics to contemporary economic theories and major debates. The course loosely follows KAE/EM1 Economic Thinking 1, which is taught in the ZS. The course includes reading original texts on the basis of which the topics are discussed.
After completing the course, the student will characterize and explain the main directions and stages of the development of economic thought from Adam Smith to the present day and be able to place individual economic schools in their historical and intellectual context. He/she will compare basic theoretical approaches and critically evaluate their assumptions, benefits and limits in explaining key economic problems and contemporary economic debates.
Prerequisites
It is expected interest of students in the subject and basic knowledge of the historical context. Pass the course Economic theories 1 taught in winter semester first is recommended.

Assessment methods and criteria
Student performance, Seminar Work

Requirements for the successful completion of the course: - Active participation in a range min. 80% - Homework - reading texts - Colloquium
Recommended literature
  • Barry J. Gordon. Aristotle and the Development of Value Theory. The Quarterly Journal of Economics, Vol. 78, No. 1 (Feb., 1964), pp. 115-128.
  • Blaug, M. conomic theory in retrospect (5th ed.). 1997.
  • Fuchs Kamil. (2007). Dějiny ekonomického myšlení. Brno.
  • Galbraith, J. K. Economics in perspective: A critical history. 2017.
  • Hodgson, G. M. he evolution of institutional economics: Agency, structure and Darwinism in American institutionalism. 2004.
  • Holman Robert. (1999). Dějiny ekonomického myšlení. Praha.
  • Hunt, E. K., & Lautzenheiser, M. History of economic thought: A critical perspective (3rd ed.). 2011.
  • Kahneman, D. Thinking, fast and slow. 2011.
  • Katherine Elliot van Liere. Humanism and Scholasticism in Sixteenth-Century Academe: Five Student Orations from the University of Salamanca. Renaissance Quarterly, Vol. 53, No. 1 (Spring, 2000), pp. 57-107.
  • Koudelka Ladislav. (2014). Lichva: trestný čin a společenský problém. Praha.
  • Krameš Jaroslav. (1998). Kameralismus a klasické ekonomie v Čechách. Praha.
  • Sandelin, B., & Trautwein, H.-M. A short history of economic thought (4th ed.). 2025.
  • Screpanti, E., & Zamagni, S. An outline of the history of economic thought (2nd ed.). 2005.
  • Sedláček Tomáš. (2006). Ekonomie dobra a zla. Praha.
  • Skidelsky, R. Keynes: The return of the master. 2009.
  • Sojka Milan. (2010). Dějiny ekonomických teorií. Praha.
  • Sojka Milan, Kouba Luděk. (2006). Kapitoly z dějin ekonomických teorií. Brno.
  • Vencovský František. (1997). Dějiny českého ekonomického myšlení do roku 1948. Brno.
  • Vencovský František. (2005). Dějiny měnových teorií na českém území. Praha.


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester
Faculty: Faculty of Arts Study plan (Version): Economic and Managerial Studies (2019) Category: Economy - Recommended year of study:-, Recommended semester: Summer
Faculty: Faculty of Arts Study plan (Version): Economic and Managerial Studies (2023) Category: Economy 2 Recommended year of study:2, Recommended semester: Summer
Faculty: Faculty of Arts Study plan (Version): French oriented on applied economics (2021) Category: Philological sciences 3 Recommended year of study:3, Recommended semester: Summer
Faculty: Faculty of Arts Study plan (Version): French oriented on applied economics (2019) Category: Philological sciences 3 Recommended year of study:3, Recommended semester: Summer