Máte zapnutý náhled celé osnovy, zpět na běžné zobrazení.
Načítání a prohlížení osnovy může být v závislosti na množství obsahu pomalejší.
Lecture 1 (6.10.2020): Introduction to the Public Economics. Course requirements
(i) Written-test
The course will be finished by a written test during the last lecture.
The test consists of multiple-choice questions and you may earn a maximum of 100 points from the test.
(ii) Essay & Presentation
You have to write an essay and prepare a presentation about the Nobel Prize Laureates in Economic Sciences, specifically Public Economics.
You may earn a maximum of 50 points from the essay and presentation.
You have to pick one of:
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| Kenneth J. Arrow | James M. Buchanan | Ronald H. Coase | John F. Nash |
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| Elinor Ostrom | Paul A. Samuelson | Thomas C. Schelling | Amartya Sen |
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| George J. Stigler | Joseph E. Stiglitz |
Nejste přihlášen na žádné téma.
(ii.A) Essay
The student in the essay introduces the economist, why he/she is writing about him/her and discusses the contribution of the economist for (public) economics.How to write a good essay.
The thesis is limited to 9000 characters ( up to 5 A4 pages).
(ii.B) Presentation
Prepare 15 minutes presentation.(iii) Voluntary activity - reading week, discussion
During a reading week read a scientific economic paper and share your ideas, comments, or feedback in a discussion forum.
While choosing a paper, keep in mind the topics discussed in the course so far and focus only on up-to-date research.
You can easily access the whole database provided by MUNI on scholar.google.com.
Note: a full citation of the selected paper and your feedback must be provided in the discussion forum.
(iv) Voluntary activity - activity points
Up to 5 points per each seminar might be assigned for activity in the class.
(v) Attendance
You have to attend at least 6 online lectures and/or seminars.
Grade
| Grade | points out of 150 |
| A | 91% - 100 % (136.5 - 150) |
| B | 84 % - 90.9 % (126 - 136.4) |
| C | 76 % - 83.9 % (114 - 125.9) |
| D | 68 % - 75.9 % (102 - 113.9) |
| E | 60 % - 77.9 % (90 - 101.9) |
| F | 0% - 60% (0 - 89.9) |
- Seminar 1 (8.10.2020): Basic microeconomic concepts. Terms and definitions
During the first seminar please fulfill the following tasks:
- read the Economix Chpt 1 (The invisible hand)
- answer the Basic Economic Questions by Stiglitz in the Discussion Group (link below)
- enroll for the Nobel Prize Laureate in Economic Sciences (for further Essay and Presentation - link below)
Nejste přihlášen na žádné téma.
Lecture 2 (13.10.2020): Public sector and the Government (BLOCK 1 - reading)
Online meeting
13.10.2020 at 16:00: MS teams: BPV_APEC Public Economics
Reading material
The second lecture is devoted to a reading of the Anatomy of the State by
Murray N. Rothbard
This essay presents a very provocative text that gives a succinct account of Rothbard’s view of the state. Rothbard regards the state as a predatory entity. It does not produce anything but rather steals resources from those engaged in production. Rothbard explains what a state is and what it is not, according to his own ideological vision, and shows how it is one institution that purports to hold the right to violate all that we otherwise hold as honest and moral, and how it operates under a false cover now and always. The text binds together the cause of private-property capitalism with anarchist politics.
Murray N. Rothbard made major contributions to economics, history, political philosophy, and legal theory. He combined Austrian economics with a fervent commitment to individual liberty.
Discussion group
Feedback on the first reading week: Anatomy of the State by Murray N. Rothbard
Lecture 3 (20.10.2020): Mixed Economies. Economic role of the Government
In a market economy, most economic decisions are made by individual buyers and sellers, not by the government. Economists, however, identify six major functions of governments in market economies. Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy.
Online meeting
20.10.2020 at 16:00:
MS teams: BPV_APEC Public Economics
PowerPoint Presentation
Group activity
Study material
- Seminar 2 (22.10.2020): Nobel Prize laureates in Economic Sciences (1)
Online meeting
22.10.2020 at 08:00: MS teams: BPV_APEC Public Economics
Student´s presentations
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2020 was awarded jointly to Paul R. Milgrom and Robert B. Wilson "for improvements to auction theory and inventions of new auction formats."
Joseph E. Stiglitz
Joseph E. Stiglitz
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2001
Born: 9 February 1943, Gary, IN, USA
Affiliation at the time of the award: Columbia University, New York, NY, USA
Prize motivation: "for their analyses of markets with asymmetric information."
Contribution: Showed that asymmetric information can provide the key to understanding many observed market phenomena, including unemployment and credit rationing.
Prize share: 1/3
Chyba: Odkazovaný objekt neexistuje nebo nemáte právo jej číst.
https://is.muni.cz/el/econ/podzim2020/BPV_APEC/ode/384588/106009031/Stiglits_ppt_BB.pptx
Elinor Ostrom
Elinor Ostrom
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2009
Born: 7 August 1933, Los Angeles, CA, USA
Died: 12 June 2012, Bloomington, IN, USA
Affiliation at the time of the award: Indiana University, Bloomington, IN, USA, Arizona State University, Tempe, AZ, USA
Prize motivation: "for her analysis of economic governance, especially the commons."
Contribution: Challenged the conventional wisdom by demonstrating how local property can be successfully managed by local commons without any regulation by central authorities or privatization.
Prize share: 1/2
Ronald H. Coase
Ronald H. Coase
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1991
Born: 29 December 1910, Willesden, United Kingdom
Died: 2 September 2013, Chicago, IL, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: "for his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy."
Contribution: Important contributions on the borderline between economics, law and organization.
Prize share: 1/1
Lecture 4 (27.10.2020): Public goods and publicly provided goods
Online meeting
27.10.2020 at 16:00:
MS teams: BPV_APEC Public Economics
PowerPoint presentation
Group activity
Study text
Lecture 5 (3.11.2020): Market Failures and Distributive Justice
Online meeting
03.11.2020 at 16:00:
MS teams: BPV_APEC Public Economics
PowerPoint presentation
Study text
Lecture 6 (10.11.2020): Externalities and government failures
Online meeting
10.11.2020 at 16:00:
MS teams: BPV_APEC Public Economics
PowerPoint presentation
Study text
Discussion Group
- Seminar 3 (12.11.2020): Nobel Prize laureates in Economic Sciences (2)
Online meeting
12.11.2020 at 08:00: MS teams: BPV_APEC Public Economics
Students´ presentations
Paul A. Samuelson
Paul A. Samuelson
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1970
Born: 15 May 1915, Gary, IN, USA
Died: 13 December 2009, Belmont, MA, USA
Affiliation at the time of the award: Massachusetts Institute of Technology (MIT), Cambridge, MA, USA
Prize motivation: "for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science."
Contribution: Contributed to raising the general analytical and methodological level in economic science.
Prize share: 1/1
John F. Nash
John F. Nash Jr.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994
Born: 13 June 1928, Bluefield, WV, USA
Died: 23 May 2015, New Jersey, NJ, USA
Affiliation at the time of the award: Princeton University, Princeton, NJ, USA
Prize motivation: "for their pioneering analysis of equilibria in the theory of non-cooperative games."
Contribution: Introduced the distinction between cooperative games, in which binding agreements can be made, and non-cooperative games, where binding agreements are not feasible. Developed an equilibrium concept for non-cooperative games that now is called Nash equilibrium.
Prize share: 1/3
Thomas C. Schelling
Thomas C. Schelling
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2005
Born: 14 April 1921, Oakland, CA, USA
Died: 13 December 2016, Bethesda, MD, USA
Affiliation at the time of the award: University of Maryland, Department of Economics and School of Public Policy, College Park, MD, USA
Prize motivation: "for having enhanced our understanding of conflict and cooperation through game-theory analysis."
Contribution: A creative application of game theory to important social, political and economic problems. Showed that a party can strengthen its position by overtly worsening its own options, that the capability to retaliate can be more useful than the ability to resist an attack, and that uncertain retaliation is more credible and more efficient than certain retaliation. These insights have proven to be of great relevance for conflict resolution and efforts to avoid war.
Prize share: 1/2
Richard H. Thaler
Richard H. Thaler
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017
Born: 12 September 1945, East Orange, NJ, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: "for his contributions to behavioural economics."
Prize share: 1/1
Lecture 7 (17.11.2020): NO LECTURE - Czech public holiday "A day of struggle for freedom and democracy"
A Czech public holiday commemorating the demonstration in 1989 that started the"Velvet Revolution"
(more info, e.g.: https://time.com/5730106/velvet-revolution-history/)
- Seminar 4 (19.11.2020): Nobel Prize laureates in Economic Sciences (3)
Online meeting
19.11.2020 at 8:00: MS teams: BPV_APEC Public Economics
Students´ presentations
James M. Buchanan
James M. Buchanan Jr.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1986
Born: 3 October 1919, Murfreesboro, TN, USA
Died: 9 January 2013, Blacksburg, VA, USA
Affiliation at the time of the award: Center for Study of Public Choice, Fairfax, VA, USA
Prize motivation: "for his development of the contractual and constitutional bases for the theory of economic and political decision-making."
Contribution: Contributions to the theory of political decision-making and public economics.
Prize share: 1/1
Kenneth J. Arrow
Kenneth J. Arrow
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972
Born: 23 August 1921, New York, NY, USA
Died: 21 February 2017, Palo Alto, CA, USA
Affiliation at the time of the award: Harvard University, Cambridge, MA, USA
Prize motivation: "for their pioneering contributions to general economic equilibrium theory and welfare theory."
Contribution: Made fundamental contributions to the renewal of the general equilibrium theory. Work with welfare theory.Work in the theory of social choice.
Prize share: 1/2
Amartya Sen
Amartya Sen
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1998
Born: 3 November 1933, Santiniketan, India
Affiliation at the time of the award: Trinity College, Cambridge, United Kingdom
Prize motivation: "for his contributions to welfare economics."
Contribution: Research on fundamental problems in welfare economics. Studies of social choice, welfare measurement, and poverty.
Prize share: 1/1
George J. Stigler
George J. Stigler
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1982
Born: 17 January 1911, Renton, WA, USA
Died: 1 December 1991, Chicago, IL, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: "for his seminal studies of industrial structures, the functioning of markets, and the causes and effects of public regulation."
Contribution: Fundamental contributions to the study of the market
processes and the analysis of the structure of industries.
Lecture 8 (24.11.2020): Public choice and elections (BLOCK 2 - reading)
The second reading week is devoted to US elections (2020)
Reading material
Discussion group
Feedback on the second reading week: US elections (2020)
Lecture 9 (1.12.2020): Public Choice Theory
Public Choice Theory is a body of theory developed by James Buchanan and Gordon Tullock to try to explain how public decisions are made.
PowerPoint presentation
Study text
Videos
Lecture 10 (8.12.2020): Beyond the ballot box - interest grups, representation of interests and lobbying (prof. Laboutková)
- Seminar 5 (10.12.2020): Public expenditures and budgeting
During the fifth seminar please fulfill the following tasks:
- read the OECD Revenue Statistics for the Czech Republic
- report on selected Public Finance data in your country (focus, e.g., on how hard it was hit by COVID19 pandemic) in the Discussion Group (link below):
Lecture 11 (15.12.2020): Public finance (BLOCK 3 - reading)
Reading material
This lecture is devoted to a reading of the Growth in a Time of Debt by Carmen M. Reinhart and Kenneth S. Rogoff
The authors investigate the effects of government debt levels on growth and inflation
rates. The main goal of the
authors’ research is to determine the long-run macroeconomic implications of
significantly higher levels of public and external debt on both advanced and emerging
economies.
They find that growth rates fall in advanced and emerging market
economies when the public debt-to-GDP ratio exceeds 90 percent and that high debt
levels are correlated with higher inflation only in emerging markets.
Discussion
Thomas Herndon and two professors at the University of Massachusetts attempted to replicate “Growth in a Time of Debt” and found an Excel error and some controversial choices in using the data. Do a review on the controversy of the issue and discuss.