Ing. Marcel Novák, PhD.

Faculty: Faculty of Economics and Finance

Department: Department of Economic Theory

Position: Associate Professor

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ORCID iD

Scientific-pedagogical characteristics of the person

Second degree of higher education

Study field and programme: finance, banking and investment, program: taxation and tax consultancy, 2004, University of Economics in Bratislava, Faculty of National Economy

Third degree of higher education

Study field and programme: Economic theory, 2007, University of Economics in Bratislava, Faculty of National Economy

Current and previous employment

Associate Professor
Bratislava University of Economics and Business, Faculty of Economics and Finance
since March 2021

Assistant Professor
Bratislava University of Economics and Business, Faculty of Economics and Finance
since 2007 till February 2021

Vice Dean for Research and Doctoral
Bratislava University of Economics and Business, Faculty of Economics and Finance
since 2019

Financial Education Expert
National Bank of Slovakia
since 2019

Advisor of Governor National Bank of Slovakia
National Bank of Slovakia
since 2015 till 2019

Development of pedagogical, professional, language, digital and other skills

Persuasive Presentation and Communication
National Bank of Slovakia
2024

Time Management Tricks for Efficient Work Beyond Home Office
National Bank of Slovakia
2024

Collaboration Across Generations X, Y, and Z
National Bank of Slovakia
2025

Artificial Intelligence – Fundamentals of Microsoft Azure AI
National Bank of Slovakia
2025

Practical Use of AI: Azure OpenAI (MS Copilot)
National Bank of Slovakia
2025

Overview of activities within the teaching career at the university

Number of defended theses

Bachelor's (first degree): 48

Diploma (second degree): 26

Overview of the research/artistic/other outputs

Number of the research/artistic/other outputs registered in the Web of Science or Scopus databases: 22

Number of citations registered in the Web of Science or Scopus databases: 57

Number of invited lectures at the international, national level: 85

The most significant research/artistic/other outputs

Public attitudes to GM foods: the balancing of risks and gains. J.Hudson, A. Čaplánová, M. Novák, In: Appetite, - London: Academic press Ltd – Elsevier Science Ltd, 2015. – ISSN 0195-663. – vol. 92 (2015), pp.303-313. Transakčné náklady, vlastnícke práva a externality – k vedeckému odkazu R.H. Coasea. A. Čaplánová, M. Novák, In: Politická ekonomie : teorie, modelování, aplikace. – Praha : Vysoká škola ekonomická, 2015. – ISSN 0032-3233 . – Roč. 63, č. 2(2015), s. 244-257. Okun´s Law over the Business Cycle: Does it Change in the EU Countries after the Financial Crisis? M. Novák, Ľ. Darmo. In Prague Economic Papers : a Bimonthly Journal of Economic Theory and Policy. - Prague : University of Economics, 2019. ISSN 1210-0455, 2019, vol. 28, no. 2, pp. 235-254 online Vzťah medzi prílevom priamych zahraničných investícií a nezamestnanosťou v Slovenskej republike (Relationship between foreign direct investment inflow and unemployment in the Slovak Republic). Ľ. Darmo, M. Novák, J. Lisý. In. Politická ekonomie : teorie, modelování, aplikace. – Praha : Vysoká škola ekonomická, 2020. – ISSN 0032-3233 . – Roč. 68, č. 4 (2020), s. 443-461. Determinants of the FDI Inflow into the Visegrad Countries. Ľ. Darmo, M. Novák, M. Kálovec, P. Rybošová. In: Ekonomický časopis, vol. 68, no.10, 2020. – ISSN 0013-3035. pp. 1057-1080.

The most significant research/artistic/other outputs over the last six years

Is Foreign Direct Investment a Determining Factor in the Competitiveness of the Visegrad Group Countries? / Marcel Novák, Ľubomír Darmo, Dominik Osuský. - VEGA 1/0679/23, VEGA 1/0545/23. In: Interdisciplinary Global Studies : The International Journal. - Champaign : Common Ground Publishing. - ISSN 2324-755X. - Vol. 19, no. 1. (2024), pp. 63-83.

Financial Literacy Survey in the Slovak Republic. Novák, M., Trnovský, K., Darmo, Ľ. In The International Journal of Interdisciplinary Educational Studies. - Champaign :Common Ground Research Networks. ISSN 2327-2570, 2021, vol. 16, no. 1, pp. 39-56 online. VEGA 1/0356/19.

Relationship between foreign direct investment inflow and unemployment in the Slovak Republic. Ľ. Darmo, M. Novák, J. Lisý. In. Politická ekonomie : teorie, modelování, aplikace. – Praha : Vysoká škola ekonomická, 2020. – ISSN 0032-3233 . – Roč. 68, č. 4 (2020), s. 443-461.

Vzťah medzi prílevom priamych zahraničných investícií a nezamestnanosťou v Slovenskej republike (Relationship between foreign direct investment inflow and unemployment in the Slovak Republic). Ľ. Darmo, M. Novák, J. Lisý. In. Politická ekonomie : teorie, modelování, aplikace. – Praha : Vysoká škola ekonomická, 2020. – ISSN 0032-3233 . – Roč. 68, č. 4 (2020), s. 443-461. Determinants of the FDI Inflow into the Visegrad Countries. Ľ. Darmo, M. Novák, M. Kálovec, P. Rybošová. In: Ekonomický časopis, vol. 68, no.10, 2020. – ISSN 0013-3035. pp. 1057-1080.

The most significant citations corresponding to the research/artistic/other outputs

VEGA 1/0679/23 Indebtedness of economic entities and countries in the European Union. Project leader, 2023 - 2026. The result of the indebtedness of countries in the current period is growing debt and growing indebtedness of economic entities, especially as a result of the pandemic and rising prices. There are problems associated with debt repayment and an increased risk of default - an increase in the risk premium. At the macro level, the government is losing room for maneuver for fiscal stimulation of the economy - especially in a situation of low interest rates and high inflation. The indebtedness of Slovak households is growing at the highest rate among EU countries and requires further measures in the area of ​​macroprudential policy. The project will focus on analyzing the sustainability of public debt, finding solutions for eliminating the growth of household debt and measures for the stability of budget revenues with regard to the prepared reforms based on the approved Recovery and Resilience Plan in the Slovak Republic and EU countries. It will propose systemic solutions in the area of ​​indebtedness of countries, households and companies. It will present new schemes in the area of ​​tax administration and collection with regard to Ricardian equivalence.

VEGA 1/0356/19 Makroekonomické a mikroekonomické aspekty zadlžovania sa krajín a ekonomických subjektov v EÚ. Vedúci projektu, 2019 - 2022 / Macroeconomic and microeconomic aspects of indebtedness of countries and economic subjects in the European Union. Project manager, Annotation: The research project focuses on the analysis of public debt and household indebtedness sustainability. The main area of interest is theoretical view on public debt and possibilities of its financing, analysis of households’ indebtedness, assessment of current state of financial consumer protection and ways to prevent inability of paying off households’ liabilities.

VEGA 1/0246/16 Efektívnosť fiškálnej a monetárnej politiky v priebehu ekonomického cyklu. Spoluriešiteľ, 2016 - 2019 / The effectiveness of fiscal and monetary policy during the economic cycle. Researcher, Annotation: The subject of the research was a critical analysis and evaluation of the effectiveness of measures taken at European level (European System of Financial Supervision (EFSF), European Financial Stabilization Mechanism (EFSM), reformed Stability and Growth Pact, quantitative easing of the ECB (QE).

ITMS2014+ 312011AKL9 Podpora rozvoja kľúčových kompetencií žiakov stredných škôl v digitalizovanom školskom prostredí. Spoluriešiteľ, 2020 - 2022 / Support for the development of key competencies of secondary school pupils in a digitized school environment, Researcher, Annotation: Main activity of the project: Implementation of a methodology in the field of support for the development of pupils' skills in the context of personal, social and civic competence and development of economic and financial literacy of secondary school pupils in a digitized school environment.

HRS4R - The development project supported by the Ministry of Education, Science and Research of the Slovak Republic aims to obtain the internationally recognized HR Award of Excellence mark of quality for the recruitment of researchers, which is an expression of the practical fulfillment of the principles of the European Charter and the code of researchers. Obtaining this mark is a confirmation of the implementation of a personnel policy in relation to researchers based on the values of openness, transparency and achieved merits. The implementation of the project lasts 6 years

Participation in conducting (leading) the most important research projects or art projects over the last six years

VEGA 1/0679/23 Indebtedness of economic entities and countries in the European Union. Project leader, 2023 - 2026. The result of the indebtedness of countries in the current period is growing debt and growing indebtedness of economic entities, especially as a result of the pandemic and rising prices. There are problems associated with debt repayment and an increased risk of default - an increase in the risk premium. At the macro level, the government is losing room for maneuver for fiscal stimulation of the economy - especially in a situation of low interest rates and high inflation. The indebtedness of Slovak households is growing at the highest rate among EU countries and requires further measures in the area of ​​macroprudential policy. The project will focus on analyzing the sustainability of public debt, finding solutions for eliminating the growth of household debt and measures for the stability of budget revenues with regard to the prepared reforms based on the approved Recovery and Resilience Plan in the Slovak Republic and EU countries. It will propose systemic solutions in the area of ​​indebtedness of countries, households and companies. It will present new schemes in the area of ​​tax administration and collection with regard to Ricardian equivalence.

VEGA 1/0356/19 Makroekonomické a mikroekonomické aspekty zadlžovania sa krajín a ekonomických subjektov v EÚ. Vedúci projektu, 2019 - 2022 / Macroeconomic and microeconomic aspects of indebtedness of countries and economic subjects in the European Union. Project manager, Annotation: The research project focuses on the analysis of public debt and household indebtedness sustainability. The main area of interest is theoretical view on public debt and possibilities of its financing, analysis of households’ indebtedness, assessment of current state of financial consumer protection and ways to prevent inability of paying off households’ liabilities.

VEGA 1/0246/16 Efektívnosť fiškálnej a monetárnej politiky v priebehu ekonomického cyklu. Spoluriešiteľ, 2016 - 2019 / The effectiveness of fiscal and monetary policy during the economic cycle. Researcher, Annotation: The subject of the research was a critical analysis and evaluation of the effectiveness of measures taken at European level (European System of Financial Supervision (EFSF), European Financial Stabilization Mechanism (EFSM), reformed Stability and Growth Pact, quantitative easing of the ECB (QE).

ITMS2014+ 312011AKL9 Podpora rozvoja kľúčových kompetencií žiakov stredných škôl v digitalizovanom školskom prostredí. Spoluriešiteľ, 2020 - 2022 / Support for the development of key competencies of secondary school pupils in a digitized school environment, Researcher, Annotation: Main activity of the project: Implementation of a methodology in the field of support for the development of pupils' skills in the context of personal, social and civic competence and development of economic and financial literacy of secondary school pupils in a digitized school environment.

HRS4R - The development project supported by the Ministry of Education, Science and Research of the Slovak Republic aims to obtain the internationally recognized HR Award of Excellence mark of quality for the recruitment of researchers, which is an expression of the practical fulfillment of the principles of the European Charter and the code of researchers. Obtaining this mark is a confirmation of the implementation of a personnel policy in relation to researchers based on the values of openness, transparency and achieved merits. The implementation of the project lasts 6 years

Overview of organizational experience related to higher education and research/artistic/other activities

Member of the Scientific Board of the Faculty of Economics and Finance
Bratislava University of Economics and Business
since 2019

Member of Dean´s Board Faculty of Economics and Finance
Bratislava University of Economics and Business
since 2019

member of subcommittee for doctoral studies Economics
Bratislava University of Economics and Business
2021

organizational provision of Student Scientific Professional Activity 2024
Bratislava University of Economics and Business
2024

NBS Committee for the Selection of Projects in the Field of Financial Literacy
National Bank of Slovakia
2021

Overview of international mobilities and visits oriented on education and research/artistic/other activities in the given field of study

National Institute of Development Administration, Bangkok, Thailand
1.9.2013 - 30.9.2013,
research program
Franklin University Ohio, Ohio, USA
15.7.2013 - 31.7.2013,
research program
University of Bath, Bath, United Kingdom
14.1.2013 - 31.1.2013,
research program
University of Coimbra, Coimbra, Portugal
1.9.2012 - 15.9.2012,
Erasmus Teacher mobility
University of Antwerpen, Antwerp, Belgium
1.2.2007 - 31.7.2007,
Erasmus Student mobility