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Subject data sheet

Institutions of Economic Policy

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Code: 4GP02NAK16M
Name: Institutions of Economic Policy
Number of hours per semester: 2+2 per week
Credits: 6
Fall/Spring: Spring
Language: English
Prerequisites: None but familiarity with micro and macro economics is useful. The lecturer may offer additional reading items as required literature for those with no adequate background in the above fields
Course type: 
Department: Gazdaságpolitika Tanszék
A Course leader: Dr. Bod Péter Ákos

Course description: The students are introduced to the purpose, structure and organizational features of the most important institutions of the market economy. The course covers a wide range of economic institutions such as Treasury (Ministry of Finance), central (national) bank, bodies responsible for structural changes, supervision of competition, regulating strategic industries, etc. The focus of the course is on open trade dependent European states, with particular emphasis on Hungary and other new member states where the institutional order is shaped by legacies of previous era as well as by policy transfer and policy advice through membership in EU, OECD, IMF and other international institutions. In order to understand the particular challenges, the students are required to read selected articles, book chapters and research articles, arranged into a Reader. Active class participation is expected. Every student must chose a topic related to the main body of the course, and present it to the class.

Assessment, grading:  mid-term exam: 25 per cent
oral presentation: 25 per cent
final exam: 50 per cent of the total

Aims and objectives and description of the course: The course familiarizes the students with the functions and performance of key institutions of market economies. The students are introduced into comprehensive analysis of institutions of fiscal, monetary, competition, social, spatial policies in the European context, with particular reference to Central and Eastern European countries. The students are expected to understand major trends taking place in the governance of modern, open, trade dependent economies, as well as to recognize country differences, and to present real life cases efficiently to professional (business) audience. The students will read and present (individually or in small team) particular institutions based on accessible data and policy material collection in order to prove that they can apply economic policy concepts in real life

Time of class: Tuesday 8.00-9.30, 9.50-11.20 Room C 102 (New building)

course schedule (planned, conditional on availability of guest speakers):
Week 1 Clarifying the terms related to governance issues
Week 2 Socio-economic systems and their institutional order
Week 3 The ’classical planned economy’: structure, strength and weaknesses. Variations of socialism – the ’reform-socialist’ experiments versus ’orthodox socialism’
Week 4 . Budget and taxation
Week 5 central banking
Week 6 interest represenation bodies
Week 7 competition policy institutions
Midterm exam
Money, prices, inflation and banking during transition
Week 8 Accession to the EU: expectations, negotiations, lessons learnt
Week 9 Spring holiday
Week 10 Finance of national debt
Week 11 Regulatory bodies
Week 12 Globalization, Europe, Euro-zone: Impact on Hungary
Week 13 Public holiday
Week 14 Conclusions, consultation
Week 15 Exam

Learning outcomes: Get acquainted with the evolution of the institution order of modern market economies
Become familiar with the remit, structure and functioning of key institutions
Know more about the performance of key policy making institutions of new EU member states such as Hungary
Get an inside into the decision making process of particular policy making bodies and organizations

Assignments: presentation topic will be chosen together with the lecturer

Bibliography:
Compulsory readings:

  • Bod, P Á (2018): Reader

Recommended readings:

Compulsory readings:
Recommended readings:

 
Instructors:

Last modification: 2018-01-18 14:54:45

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