Course detail

History of Economic Theories

FP-KdetPDAcad. year: 2018/2019

The subject History of Economic Theories extends the knowledge of students gained within the subjects of Macroeconomics 1 and Microeconomics 1 in bachelor study programs. The subject is focused on the development of economic theories, in context of a deeper understanding of current economic phenomena. The subject contributes to forming students' economic thinking.
The content of the subject is the development of economic theories from the beginning of mankind to the present, with a deeper focus on the main economic stream. An integral part is the monitoring of current economic information and trends.

Learning outcomes of the course unit

After finishing the course students should be able to understand theoretical basis and principles of economics, in context of contemporary problems.


The knowledge of Macroeconomics 1 and Microeconomics 1 is expected.


Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

KUČEROVÁ, V.; NAVRÁTILOVÁ, P. Makroekonomie II - Vývoj ekonomického myšlení. Brno: CERM, 2008. ISBN: 978-80-214-3742- 5.; KUČEROVÁ, V.; NAVRÁTILOVÁ, P. Dějiny ekonomického myšlení. přepracované vydání, 2016.
CAMERON, R. Stručné ekonomické dějiny světa. 1. vyd. Praha: Victoria Publishing, 1996. 475 s. ISBN 80-85865-21-1.
HOLMAN, R. Dějiny ekonomického myšlení. 4. vyd. Praha: C. H. Beck, 2017. 576 s. ISBN 978-80-7400-641-8.
SOJKA, M. Dějiny ekonomických teorií. Praha: JUDr. Karel Havlíček - Havlíček Brain Team, 2010. 544 s. ISBN 978-80-87109-21-2.
SOJKA, M. Kdo byl kdo, světoví a čeští ekonomové. 1. vyd. Praha: Libri, 2002. 327 s. ISBN 80-7277-055-1.

Planned learning activities and teaching methods

The course contains of two-hour lectures that explain basic principles, problems and methodology of the discipline, with a block of discussion at the end of the lesson.

Assesment methods and criteria linked to learning outcomes

Student gets classified credit if he receives at least 50 points out of 100 possible points. The form of the final evaluation is written test.
The scale of the resulting classification:
A: 90-100 points
B: 80-89 points
C: 70-79 points
D: 60-69 points
E: 50-59 points
F: less than 50 points

Language of instruction


Work placements

Not applicable.

Course curriculum

1. The beginnings of economic thinking, the oldest form of the economic systems.
2. Ancient economic thinking, ancient philosophy and its influence on the further formation of economic theories.
3. Medieval economic system and medieval economic thinking, scholasticism.
4. Merkantilism, the first comprehensive economic system and its influence on the formation of quantitative theory of money.
5. Economic directions of the 17th - 18th centuries, the beginnings of capitalism and the formation of theories preceding the Classic Political Economy.
6. Beginnings of Mainstream Economics, Industrial Revolution, Physiocratism, Classical Political Economics and its most important theories.
7. Marginalist Revolution and the development of New Classical Political Economy.
8. Economic directions outside the main economic stream, German Historical School, French Socialism, Marxism, and their influence on the formation of economic systems.
9. Great economic crisis and Keynesianism, its formation, the importance of the visible hand of the state, and the influence on the economic directions.
10. Neo-Keynesianism and the Keynesian crisis as the basis for the entry of Monetarism into the main economic stream.
11. Monitarism, its evolution, influence, form and importance in contemporary economic theories.
12. Development of contemporary economic directions and solutions of current economic issues.
13. Czech economic thinking and important facts that formed the contemporary Czech economic system.


The main objective of the course is enlargement of macroeconomic knowledge and intensifying of students' abilities in understanding and solving of actual economics problems.

Specification of controlled education, way of implementation and compensation for absences

Control of students' attendance and results is fully in competence of the teacher.

Classification of course in study plans

  • Programme BAK Bachelor's

    branch BAK-UAD , 2. year of study, summer semester, 4 credits, compulsory-optional
    branch BAK-EP , 2. year of study, summer semester, 4 credits, compulsory

Type of course unit



26 hours, optionally

Teacher / Lecturer