PEVHP External Economic Policy

Faculty of Economics and Administration
Spring 2009
Extent and Intensity
2/0/0. 3 credit(s). Type of Completion: zk (examination).
Teacher(s)
prof. Ing. Martin Kvizda, Ph.D. (lecturer)
Ing. Tomáš Paleta, Ph.D. (lecturer)
prof. Ing. Zdeněk Tomeš, Ph.D. (lecturer)
Ing. Monika Jandová, Ph.D. (seminar tutor)
Guaranteed by
prof. Ing. Antonín Slaný, CSc.
Department of Economics – Faculty of Economics and Administration
Contact Person: Lydie Pravdová
Timetable
Tue 14:35–16:15 P303
Prerequisites
Economic Policy I
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The course External Economic Policy is divided into two parts - trade policy and exchange rate policy. The first part branches out basic theoretical and practical concepts of economic policy regarding international exchange of goods and services. The latter part is focused on exchange rate systems, their applications, economic aspects and practical experience. The course combines theoretical explanation with empirical knowledge and examples from the world and the Czech economy.

Main objectives can be summarized as follows:

- to learn principles, functioning and institutions of external economic policy;
- to form an analytical view of international economic issues and impacts of international policy instruments on them;
- to pass critical judgment on individual economic measures;
- to extend and deepen knowledge from the theory and practice of economic policy, world economy and European integration.
Syllabus
  • 1. External equilibrium - balance of payments.
  • 2. International trade - reasons, specialization, openness of economies, prices in international trade.
  • 3. Political economy of trade policy - theory of protectionism, theory of free trade, new approaches.
  • 4. Trade policy instruments I. - tariff, import quota, voluntary export restrictions, export subsidies.
  • 5. Trade policy instruments II. - antidumping, government preferential purchases, export financing support.
  • 6. Types of trade policy I. - Common commercial policy.
  • 7. Types of trade policy II. - US trade policy, Japanese trade policy, Trade policy of developing countries.
  • 8. Exchange rate systems and economic policy - theory, exchange rate determination, overshooting.
  • 9. Exchange rate policy and inflation - in the long term, one price law, PPP.
  • 10. Exchange rate policy and economy performance - in the short term, J-curve.
  • 11. Fixed exchange rate I. - economic policy in fixed exchange rate, central bank interventions, stabilization policy, types of fixed exchange rates in real economies.
  • 12. Fixed exchange rate II. - international monetary system 1870-1973, alternative ways of monetary cooperation, IMF and developing countries.
  • 13. Floating - economic policy in floating, advantages and disadvantages, applications.
Literature
  • KRUGMAN, Paul R. and Maurice OBSTFELD. International Economics : Theory and Policy [Krugman, 2000]. 5th ed. Reading: Addison-Wesley, 2000, xxx, 750,. ISBN 0-321-07727-X. info
Assessment methods
The course has a form of a lecture.
The course is concluded by an oral exam.
Language of instruction
Czech
Further Comments
Study Materials
The course is taught annually.
The course is also listed under the following terms Spring 2004, Spring 2005, Spring 2006, Spring 2007, Spring 2008.
  • Enrolment Statistics (recent)
  • Permalink: https://is.muni.cz/course/econ/spring2009/PEVHP