The first chapter is dedicated to the period before transformation to the previous development of Czechoslovak economy to give the readers a rough picture of the evolution of the country. The next chapters are already fully orientated towards economic transformation after the change of the regime in 1989. In the second chapter, the first steps of the whole economic process are described and followed by an outline of economic policy that was applied in the following years. This chapter should give readers an overall picture of the process most of the mentioned topics and problems are deeply analyzed in the following chapters. The third chapter is orientated to the macroeconomic results (especially to the development of the GDP) that were achieved in the first transformation decade. The following chapters are aimed at partial topics. The fourth chapter analyzes fiscal policy during the 1990s, and the fifth chapter (describes the development of monetary policy in the same period. Different interpretations of the financial crisis in 1997 are depicted in the sixth chapter. The following chapter seven focuses on the privatization process. Chapter eight describes the development of the exchange rate policy during the transformation. Evolution of prices and inflation is the topic of chapter nine, and the next chapter describes the situation and changes on the labor market. Chapter eleven is dedicated to the topic of Czech international trade during the 1990s. And the last part, chapter twelve, discusses changes in the structure of Czech economy connected with the accession of the country to the EU.