Academics
Courses
UPCES Economics Courses
Here you'll find the full list of UPCES courses related to Economics. Please note that course offerings are subject to change or cancelation based on faculty availability and student enrollment. All course subjects must be approved by your home institution for departmental credit.
Each course includes a detailed description, any cross-listed subjects, and a downloadable syllabus. All courses listed on this page may also be counted toward the Certificate in International Economics & Finance.
Behavioral Economics (IEF)
[ECONOMICS, 3 credits]
Syllabus
Graduates of the module describe behavioral principles of strategic and non-strategic decision making in an economic environment. This enables them to evaluate purely theoretical problems more adequately and to design an appropriate economic environment for applied decision problems as well. Moreover, graduates conduct simple economic experiments to test how suitable selected economic and institutional designs are to deal with economic problems.
Pre-requisites: One intermediate-level economics course (Micro or Macro)
CEE Economic Growth and Development (IEF)
[ECONOMICS, 3 credits]
Syllabus
Why are some countries poor and other countries rich? What are the factors of growth? What is the role of political and economic institutions in the development process? How can aid foster growth and development? These questions are of central interest not only for academics, but also for policy makers and international organizations shaping policies for sustained growth and development. Providing the answers is particularly relevant for any country undergoing a strong transition and development process, such as the former Soviet Union countries. It is however also important for the European Union, whose member countries vary significantly in their original economic environments. This course aims to address these questions in view of the theory and empirics of economic growth. This course is divided in two parts. The first part overviews the facts of growth and presents the main theories that try to account for them. Special attention is given to understanding the central role of institutions in this process. The second part of the course analyzes the role of foreign aid and also discusses the role of international organizations, such as the World Bank and the IMF. Throughout, the course puts emphasis on the growth experience across European and former Soviet Union countries.
Prerequisites: This course is mainly geared toward students with an economics background. We will base our analyses on simple mathematical models, so familiarity with algebra and calculus is strongly recommended. Students without any economics background are advised to consult the professor before enrolling. More precisely, prospective students need to have passed the following courses (or at least have the knowledge at the given level): Intro coursework in Calculus (AP Calculus is accepted)
Digital Currencies and Cryptocurrencies (IEF)
[ECONOMICS, 3 credits]
Syllabus
This course will consider the new phenomenon of digital currencies from a monetary and financial stability angle. We will first look at the technological foundations of cryptocurrencies, and then we will discuss challenges related to the issuance of central bank digital currencies and stablecoins. We will study central bank digital currencies that are in advanced stages and we will learn about their potential impact. We will discuss private efforts to issue stablecoins (e.g. LIBRA) and discuss why they raise concerns of regulators
Pre-requisites: One introductory-level economics course
Economic History of Central and Eastern Europe (IEF)
[ECONOMICS, HISTORY, CULTURAL STUDIES, POLITICAL SCIENCE, 3 credits]
Syllabus
Our economic lives are constantly changing: Technological change, economic and political crises shaped the world since the industrial revolution during the last 200 years. Countries in Central and Eastern Europe (CEE) in particular experienced several upheavals during the last 150 years: The collapse of the Austrian-Hungarian Empire, weak political and economic institutions after World War I, ethnic cleansing after World War II, a centralized planning economy and the transition towards a market economy after 1990 are partially still visible in socio-economic figures today. A long-term perspective on the evolution of economic figures can also help to understand changes and obstacles today. The course bases on a broader understanding of economic development. Despite classical economic measures like GDP, inflation or population growth, we will also discuss so-called soft economic variables such as norms, culture, trust and social capital.
Pre-requisites: none
Economics of Transition (IEF)
[ECONOMICS, 3 credits]
Syllabus
The course deals with main economic issues related to transition from centrally-planned economies of the Soviet bloc, Yugoslavia, and China to market economies. Compared to other similar courses, this course will be less descriptive and more analytical; we will use economic models and results of econometric studies where appropriate. We will also try to apply an experimental approach in order to provide the students with direct experience with asymmetric information markets and soft-budget constraints. The course tries to focus on aspects of transition which can be used to shed light on more permanent problems of economics systems and which can help reduce future exposure to similar errors.
The first part of the course deals with the theory of comparative economic systems, reviewing the theory of capitalism and analyzing the functioning of central planning and selected topics related to corporate governance under central planning (e.g. Yugoslavian self-managed firms). The second part provides an explanation of the gradual economic decline and main structural problems experienced by the former central planning countries, and it also focuses on main transition steps and their economic logic. We will also deal with basic theoretical models that attempt to explain problems experienced by transition economies. The last part will deal with the performance of firms and the role of corporate governance, ownership and institutions.
Environmental Economics in the Central European Context (IEF)
[POLITICAL SCIENCE/ECONOMICS, 3 credits]
Syllabus
The aim of this course is to introduce students to some basic economic principles and theories explaining environmental issues and problems today and to explore existing policies at the national, international, and global level. Students will learn about concepts such as externalities, the tragedy of the commons, enforcement as a public good, interventionist solutions to the externality problem such as taxes and marketable pollution permits, as well as non-interventionist solutions to the externality problem such as the Coasian solution and self-regulation. Students will also review the debate over the environmental Kuznets curve. Because experimental evidence nicely complements theoretic insights, field data, and simulating models, we will conduct in-class experiments and also review some research articles that draw on the experimental methodology.
Pre-requisites: One introductory economics course or statistics course
Growth, Inflation, Unemployment: Macroeconomics and Policy in Europe and in the US (IEF)
[ECONOMICS, 3 credits]
This course covers core topics in modern macroeconomics – long run economic growth, business cycle fluctuations, inflation, the role of finance, unemployment, and climate change – with a focus on analogies and differences between European and US institutions in their response to similar economic problems. The course emphasizes analytical frameworks, empirical evidence, and policy implications relevant to understanding complex economic phenomena. Students will gain skills in interpreting macroeconomic data, evaluating theoretical models, and applying them to contemporary issues.
Course Prerequisites: Introductory Macroeconomics, basic calculus and statistics
Financial Economics of Climate and Sustainability (IEF)
[ECONOMICS, ENVIRONMENTAL STUDIES, 3 credits]
This course explores the intersection of finance, economics, and climate change science to introduce students to the current thinking of financial economists on the most pressing climate change and sustainability issues. Theoretical concepts and empirical applications will present students with a broad perspective on the rich and rapidly evolving field of climate and sustainability finance. Many of the problems are open-ended, reflecting the complexity and deep uncertainty intrinsic to the real-world situations faced by today's decision-makers. The case studies, discussions, and real-world examples will provide additional insights into the implications of climate change for financial markets and the promising strategies for sustainable finance.
Pre-requisites: Minimal - Introduction to Microeconomics, Introduction to Macroeconomics or Introduction to Statistics; Recommended - Introduction to Microeconomics, Introduction to Macroeconomics, Introduction to Statistics
Health Economics: Concepts and Challenges from the European Perspective (IEF)
[ECONOMICS, 3 credits]
Syllabus
The course aims to provide students with an introduction to the key concepts, methods and understanding of the application of economics to health and health care. Students will gain knowledge of the core theories underpinning health economics, and by looking at the epmirical evidence they will learn to evaluate whether they give correct predictions for real health care market. The difference between US and European approach toward health care financing and provision will be discussed to stimulate students' critical thinking about the major challenges health care systems face and how health economics can play a role in understanding and mitigating those challenges.
Pre-requisites: One introductory-level economics course
International Trade: USA and Europe in an Interconnected World (IEF)
[ECONOMICS, 3 credits]
This course covers, with a focus on both theory and empirics, essential topics in international (interregional) trade and trade policy analysis at the undergraduate level. These basics are complemented by hands-on work with empirical data, and discussions of topic which appear in current debates on trade policies and protectionism. The course attempts to provide insight into the following questions: Why do countries (regions) trade? And how does trade influence the welfare of their citizens? What determines which goods/services will be exported/imported by particular countries? How do trade policies influence the effects of trade on economies and their welfare? How are US and EU policies formed and how do they differ? If US uses “Buy America/n”, is there something like “Buy European”? How can we identify and evaluate vulnerabilities caused by dependencies on countries such as China, Russia, etc.? What kind of sanctions can be used (and are used by the USA, EU, and China), and how do they influence welfare?
The course resembles standard courses in International Trade Theory as taught at many other undergraduate economic programs. Besides theory, we will also attempt our own empirical
analysis – i.e. you will learn what kind of data on trade are available and from which sources and how to work with them. Depending on your skills, you will also learn how to analyze the data – either in Excel or some more advanced type of software.
Labor Markets in the EU (IEF)
[ECONOMICS, 3 credits]
Syllabus
This course will look at key European labour market issues from an empirical angle. It will for instance consider topics such as wage determination, skill formation, unemployment and international migration within the context of the labour markets, institutions and policies of the EU. We will apply Labour Economics view on imperfect labour markets, and address empirically policy-makers’ questions on for instance minimum wages, unemployment benefits and flexecurity, education programs, family policies, retirement programs or immigration and integration policies.
Strategic Thinking: Theory and Practice
[ECONOMICS, 3 credits]
Syllabus
We will study theoretical tools and practical applications to sharpen the precision and depth of our strategic thinking. Starting from examples in news stories, books, or movies, we will introduce and apply concepts from game theory and information economics and discuss their real-life relevance. Examples provided by the students are an integral part of the course.
Social Policies in Central Europe: (How) Do They Work? (IEF)
[ECONOMICS, SOCIOLOGY, 3 credits]
This course aims to provide students with an introduction to social policies dealing with the most common problems of modern societies and welfare state and how they are being formulated in the political process. These challenges include work-life balance, gender inequalities and discrimination, homelessness and poor living conditions and respective social services. For each topic, we first introduce the problem, its scope and relevance. We illustrate the historical perspective and time evolution and talk about cross-country differences and the possible reasons for these differences. Second, we discuss potential solutions and address specific policies that could be used to tackle this issue. We investigate how the specific context of Central Europe shapes policies used in the area and how that differs from Western countries. Third, we discuss the effectiveness of policies and provide some evidence about what works and why. Finally, selected students provide a short overview of the situation in their home country related to the issue at hand (the scope of the problem, policies used to tackle the issue and the related costs and benefits). At the end, we compare the situation in the Czech Republic to the one presented by students from their home countries and discuss potential implications for policy.
Topics in Global Economy
[ECONOMICS, 3 credits]
Syllabus
This course explores several global economic topics that currently interest economists and policy makers. The course will cover the following topics. We will first study the evolution of the European monetary and fiscal policies and the current issues. We will then study the rising economic inequality in the US and worldwide, focusing how to measure inequality and the proximate explanations. We will then study the interrelated issues of the rising firm market power and the falling worker union power, again focusing on the measurement and explanations. Finally, we will study macroeconomic development focusing on the set of policies known as Washington Consensus and evaluating economic outcomes of those policies around the world.
*Note: Topics in Global Economy is a graduate-style course, taken with Master's students, and is best suited for highly motivated students of economics.
