World Economy 3 (in English)

  • Credits: 5
  • Ending: Examination
  • Range: 2P + 2C
  • Semester: winter
  • Year: 2
  • Faculty of International Relations

Teachers

Included in study programs

Economic Diplomacy (in English language)

Teaching results

The aim of the course is to understand the issues of economic development of the countries of North and Latin America. The main task of the course is to present economic development in the context of political changes in order to understand the basic historical and economic context and specifics of the region. The emphasis is put not only on economic history, but also on understanding the current economic situation based on historical events. The course is designed on the basis of the so-called case studies of the development of individual economic milestones in the history of selected countries in the region, solutions to economic crises and analysis of development plans for the future.
Knowledge
The student will gain knowledge about economic and historical development in the region, the
context of this development, will understand the conditions of economic formation of individual
states.
Competence
Graduate of the course International Economics 2 will be oriented in the position of the region in the world economy and will be able to predict its development as well as possible further participation in world trade and integration groups, will understand economic policy of the region,
especially the foreign economic policy.
Skills
After completing the course, the student should:
- Understand the economic and political development in selected countries of the region
- Based on the application of knowledge of economic theory, student will be able to understand the context of this economic development
- Understand the connections between the political regime and applied economic theory
- Know the economic solutions that have been applied to the region to manage economic crises
- Evaluate the measures taken and understand the results they have produced
- Critically propose appropriate economic measures
- Predict possible future scenarios of economic development in the region.

Indicative content

Introduction to the economic history of Latin America. Brazil - economic and political development until the 90s. Brazil - economic and political development in the 90s. Brazil - the current economy. Argentina - economic and political development until the 90s. Argentina - economic and political developments in the 90s. Argentina - the current economy. Chile - economic and political development. Chile - current economy. Mexico - brief economic and political development. USA - History of Economic Development. USA - current economy. Canada - brief economic and political development.

Support literature

LAWRENCE, A. et al. 2017. New History of Modern Latin America. California. University of California Press. ISBN 0520289021
EDWARDS, S. 1995. Crisis and Reform in Latin America: From Despair to Hope. World Bank. ISBN 978-0195211054
SHERMAN, J.W. 2019. Latin America in crisis. Routledge. ISBN 78-0367316563
DEVLIN, R. 2016. Debt and Crisis in Latin America: The Supply Side of the Story. Princetion University Press. ISBN: 9780691634272
SACHS, Jeffrey – SANDERS, Bernie: Building the New American Economy – Smart, Fair and Sustanaible. Columbia University Press. 2018. 152 pages. ISBN 9780231184052.
WRIGHT, Robert,E.: One Nation Under Debt – Hamilton, Jefferson and History of What We Owe. McGraw Hill Publisher, 2008. 256 pages. ISBN 0071543937.
WALTER, Greason - GORMAN, Wiliam, M.- ZIOBRO, Melissa: The American Economy. Kendall Hunt Publishing. 2016. 198 pages. ISBN 9781524902675.
BAER, Werner: The Brazilian Economy – Growth and Developement. Lynne Rienner Publishers. 2007. 500 pages. ISBN: 9781588264756.
KINGSTONE, Peter: The Political Econony of Latin America: Reflection on Neoliberalism and Developement after Commodity Boom. Routledge. 2018. 216 pages. ISBN 9781138926998.

Syllabus

1. Introduction to the economic history of Latin America - a brief description of the region, common features of countries. Historical - political development with emphasis on the specifics of the region 2. Brazil - economic and political development until the 90s, the alternation of military and civilian governments, economic programs 3. Brazil - economic and political development in the 90s, crisis management and lessons learned 4. Brazil - the current economy of Brazil, foreign trade, development trends and challenges for the future 5. Argentina - economic and political development until the 90s, the alternation of military and civilian governments 6. Argentina - economic and political developments in the 90s, crisis management and lessons learned 7. Argentina - the current economy of Argentina, foreign trade, development trends and challenges for the future 8. Chile - economic and political development, the alternation of civilian and military governments with an emphasis on the economic development of Chile during the dictatorship of Augusto Pinochet 9. Chile - current economy, foreign trade, development trends and challenges for the future 10. Mexico - brief economic and political development, development trends and challenges for the future 11. USA - History of Economic Development, Reaganomics and Clintonomics 12. USA - current economy, foreign trade, development trends and challenges for the future 13. Canada - brief economic and political development, development trends and challenges for the future

Requirements to complete the course

The final grade is based on continuous control during the semester and the oral exam, as follows:
20% of the total assessment of the course consists of continuous control during the study (activity
and control questions 10%, presentation of news 20%). The final evaluation is in the form of an
oral exam (which represents 80% of the total evaluation of the course).

Student workload

participation in lectures 26 h, participation in seminars 26 h, preparation for seminars including
presentation of news 26 h, preparation for exam 78 h

Language whose command is required to complete the course

English

Date of approval: 10.02.2023

Date of the latest change: 16.01.2022