Course topics:

• Short insight into world economy: its development, stages, actual questions and problems of world economy
• World economics: economic openness, trans-nationalization of economic processes and relations, interdependence, economic development – development economics, economic growth and its critics, economic development
• Open economy macroeconomics: international trade, tools of foreign trade policy, main trends of international economics, specialisation in the field of international division of labour, international trade
• Development of international economic relationships: the international economic system and its institutions following World War II. (GATT/WTO, IMF, World Bank), changes and challenges in the end of 20th century
• The birth of EEC: the background of its present unique role, the position and competitiveness of the EU within global economy
• The role of EU within global economy: environmental thinking, social model, competition policy
• The EU and its development policy, European Foreign Direct Investments
• Challenges faced by the EU – The future of the EU
• World economic and financial crisis – crisis of the euro zone?

Aims:

The interpretation of world economic processes and related information will be easier with such a brief insight into the basic relations of world economy. The course’s aim is to induce autonomous deliverance based on the heard updated information about global economy and the EU as well.

Krugman, P. R. – Obstfeld, M. (1994): International Economics: Theory and Policy. HarperCollins, New York, 795 p., ISBN 0 673 52186 9 – certain chapters

Stiglitz, J. E. (2010): Freefall: America, free markets and the sinking of the world economy. New York, N.Y, Norton, 443 p; ISBN 978 0 393 33895 9

O'Mahony, M. – van Ark, B. (eds) (2003): EU productivity and competitiveness: an industry perspective: can Europe resume the catching-up process? European Commission. – Luxembourg: Office for Official Publications of the European Communities, 273 p., ISBN 92 894 6303 1

Baron L. Whitley (ed.) (2010): European Response to the Financial Crisis. Nova Science, New York, N.Y. 119 p., ISBN 978 1 60876 817 2

European Competitiveness Report 2011 - Commission staff working document SEC(2011) 1188 / European Commission. Luxembourg: Office for Official Publications of the European Communities, 237 p.; ISBN 978 92 79 21691 6