Economics, Business, Politics (Bc.)

This course offers a comprehensive introduction to the principles of microeconomics, emphasizing their application in understanding real-world economic issues. It provides students with basic concepts necessary to analyze market structure, economic behavior, individual and firm decision-making processes, and the impact of government policies on markets. The course is designed to develop critical thinking and analytical skills, enabling students to apply microeconomic theories to a diverse range of economic, business, and political scenarios. 

Subject syllabus:

1. Introduction to Microeconomics and Principles of Economics: Economic behavior, rationality, economic thinking, key economic problems.
2. Consumer Choice Theory: Exploring how consumers make decisions based on preferences, budget constraints, and utility maximization.
3. Production and Costs: Analyzing production processes, short-run and long-run costs, and economies of scale.
4. Perfect Competition: Characteristics and outcomes of perfectly competitive markets. Efficiency, profit, short and long run equilibrium.
5. Supply and Demand: Understanding market dynamics and price elasticity. Arbitrage.
6. Monopoly and Market Power: Understanding monopolies, price discrimination, efficiency, rent seeking and antitrust policy.
7. Oligopoly and Game Theory: Analyzing oligopoly market structures and strategic interactions among firms. Basic models of oligopolies, cooperative and non cooperative strategies.
8. Factors of production and Income Distribution: Determinants of labour supply and demand, equilibrium wage and market distortions. Capital markets, equilibrium rents and choice of production technique.
9. Product differentiation and monopolistic competition. Long and short run equilibrium.
10. Externalities and Public Goods: Addressing market failures, externalities, and the role of public goods.
11. Government Intervention and Regulation: Evaluating government policies, taxation, and subsidies.
12. Current Topics in Microeconomics: Discussion on contemporary microeconomic issues, including environmental economics, health economics, and behavioral economics.

This course introduces the fundamental concepts and tools of corporate finance. Students will learn about the role of financial managers, financial statement analysis, and the basics of financial planning and capital structure. The course covers key topics such as the time value of money, valuation of bonds and stocks, risk and return analysis, and short-term financial management. Emphasis is placed on applying these concepts to real-world financial decision-making in corporations.

Subject syllabus:

1. Introduction to Corporate Finance: Role and scope of financial management in corporations.
2. Financial Statement Analysis: Understanding and interpreting balance sheets, income statements, and cash flow statements.
3. Time Value of Money: Concepts of present value, future value, and applications in financial decision-making.
4. Valuation of Bonds and Stocks: Fundamentals of valuing fixed-income securities and equities.
5. Risk and Return: Understanding the trade-off between risk and expected returns.
6. Capital Budgeting: Techniques for evaluating investment decisions, including NPV and IRR.
7. Cost of Capital: Determining the cost of debt, equity, and weighted average cost of capital.
8. Capital Structure: Theories and practical considerations in designing a firm's capital structure.
9. Dividend Policy: Theories and practices related to dividend decisions and stock repurchases.
10. Working Capital Management: Strategies for managing short-term assets and liabilities.
11. Financial Planning and Forecasting: Techniques for financial planning and predicting future financial needs.
12. International Corporate Finance: Basics of international finance, including exchange rates and international financial management.

This course provides an in-depth exploration of the economic challenges posed by globalization. Students will engage with the dynamics of global economic integration, examining how it impacts trade, markets, and policy. The curriculum emphasizes understanding the complexities of global economic interactions and their consequences on local and international scales. 

Subject Syllabus:

1. The Foundations of Globalization: Understanding the Basics
2. Global Markets and Trade Liberalization: Benefits and Challenges
3. Economic Globalization and Income Inequality: A Global Perspective
4. Multinational Corporations in the Global Economy: Impact and Influence
5. Global Financial Systems and Crises: An Economic Analysis
6. The Role of Technology in Global Economic Integration
7. Environmental Impacts of Globalization: Economic Perspectives
8. International Treaties in the Process of Globalisation
9. Globalization and Developing Economies: Opportunities and Risks
10. The Political Economy of Globalization: Policy Implications
11. Economic Globalization, Geoeconomics and Economic Security
12. Future Trends in Globalization: Economic Predictions and Challenges

The course encompasses a range of skills and concepts crucial for achieving success in academic writing, with a particular focus on economics. It aims to develop the ability to express economic theories, arguments, and empirical findings precisely. Various techniques and methodologies essential for academic excellence in economics are explored, including literature review, data analysis, argument construction, and the clear communication of intricate economic concepts. Emphasis is placed on enhancing writing clarity, structure, and style and fostering critical thinking and analytical skills required to create high-quality research papers and articles in economics. 

Subject syllabus:

1. Introduction to Academic Writing in Economics: Principles and Practices.
2. Structure and Organization of Academic Texts, Especially for Economics Papers.
3. Literature Review Techniques in Economic Research.
4. Structuring Economic Arguments: Thesis Development and Supporting Evidence.
5. Data Analysis and Interpretation in Economic Research.
6. Writing Empirical Research Papers: Methodology and Data Presentation.
7. Advanced Econometric Techniques for Academic Writing.
8. Working with Sources: How to Search for, Evaluate, and Use Various Sources, Including Books, Articles, and Online Resources.
9. Ethics of Writing: Emphasis on the Ethical Aspects of Writing, Including Responsible Citing, Preventing Plagiarism, and Adhering to Academic Standards.
10. The Role of Peer Review in Academic Economics Writing.
11. Publishing in Economics: From Manuscript to Article.
12. Case Studies: Analyzing and Writing on Contemporary Economic Issues.

This course is designed for students interested in innovative entrepreneurship, offering a deep understanding of the principles and practices behind successful innovative businesses. It provides a comprehensive view of innovative entrepreneurial strategies, value creation methods, and sustainable growth in a dynamic global environment. Students will learn to identify market opportunities, develop innovative business models, and apply strategic and creative thinking to real-world business challenges. The course emphasizes the practical application of innovation and entrepreneurship theories through case studies, interactive discussions, and project work. 

Subject syllabus:

1. Austrian Economics and Entrepreneurship: The beauty and power of entrepreneurship
2. Praxeology and First Principles Thinking
3. Fundamentals of Innovative Entrepreneurship: From Idea to Market Success
4. Identifying and Evaluating Entrepreneurial Opportunities
5. Developing and Testing Innovative Business Models
6. Strategic Planning and Growth Management in Innovative Enterprises
7. Marketing and Selling Innovations: Strategies and Practices
8. Leadership and Culture in Innovative Entrepreneurship
9. Technology and Innovation: Leveraging Technological Trends
10. Global Business and International Strategies for Innovators
11. Legal Aspects of Innovative Entrepreneurship
12. Sustainable Business and Social Innovation

The aim of this course is to enable students to gain a deeper understanding of macroeconomic processes and provide them with a solid theoretical foundation for studying applied economic disciplines. During the course, students will learn the logic of economic thinking and develop their ability to formulate and present their views and positions on key issues in contemporary economic development. 

Subject syllabus:

1. Macroeconomic Aggregates and Their Measurement, including an exploration of macroeconomic identities.
2. The Consumption Function and Investment Function, examining their roles in economic analysis.
3. The Money Market and Inflation, covering concepts such as money demand functions, money supply, money creation, money market equilibrium, transmission mechanisms, the quantitative theory of money, inflation, and inflation expectations.
4. International Trade, including discussions on net exports, exchange rate systems, and the Purchasing Power Parity theory.
5. Aggregate Demand in a Closed Economy, with a focus on the 45 model.
6. Aggregate Demand in an Open Economy, with a focus on the 45 model
7. The Aggregate Demand-Aggregate Supply Model (AD-AS Model), exploring the interactions between aggregate demand and aggregate supply.
8. The Labour Market and Unemployment, considering factors influencing employment.
9. The Phillips Curve and the Relationship Between Inflation and Unemployment, as well as an examination of Okun's Law and the distinctions between Demand-Pull and Cost-Push Inflation.
10. Theories of Economic Growth and Economic Cycles, investigating models and concepts related to long-term growth and business cycles.
11. Fiscal Policy, including an overview of the Ricardo-Barro theory, taxation, and public debts.
12. Monetary Policy, covering topics such as activist policy, inflation targeting, rational expectations, and disinflationary policy.

Building on the foundations laid in Corporate Finance 1, this course delves deeper into advanced topics in corporate finance. It covers complex financing and investment strategies, mergers and acquisitions, corporate governance, and risk management. Students will also explore contemporary issues in corporate finance, such as ethical financial management and the impact of global economic changes. Case studies and practical projects will be used extensively to develop a deeper understanding and application of advanced corporate finance concepts. 

Subject syllabus:

1. Advanced Capital Budgeting: Deeper analysis of investment appraisal techniques and project evaluation.
2. Corporate Valuation Methods: Advanced methods for valuing corporate entities.
3. Mergers and Acquisitions: Strategies, valuation, and integration processes in M&A.
4. Corporate Restructuring: Understanding spin-offs, divestitures, and bankruptcy processes.
5. Advanced Risk Management: Techniques for managing various types of financial risks.
6. Corporate Governance: Role and importance of corporate governance in financial management.
7. Ethical Financial Management: Examining ethical dilemmas and responsibilities in finance.
8. Private Equity and Venture Capital: Insights into private equity, venture capital financing, and their roles in corporate finance.
9. Debt Financing and Leverage: In-depth understanding of debt instruments and leverage effects.
10. Derivative Instruments and Hedging: Use of derivatives in hedging and risk management.
11. Real Options in Capital Budgeting: Applying real options theory to capital investment decisions.
12. Current Trends in Corporate Finance: Exploring recent developments and future trends in global corporate finance.

This is a foundational course designed to explore the complex political dynamics and challenges arising from globalization. This course delves into the impact of globalization on state sovereignty, international relations, economic cooperation, environmental concerns and the role of democracy. Students will critically analyze the role of state and non-state actors, the interplay between national policies and global trends, and the emerging political issues in a globalized world.

Subject syllabus:

1. Defining Globalization: Concepts and Historical Context
2. State Sovereignty and Global Governance: Changing Dynamics and Great Powers Competition
3. Global Security: Role of Nuclear Weapons
4. Terrorism in a Globalized World: New Challenges
5. Migration and Globalization: Political and Social Implications
6. Global Economic Challenges: Autonomy or Dependence
7. Environmental and Energy Challenges in a Globalized World: International Cooperation and Conflict
8. Cybersecurity and Information Warfare in the Global Context
9. Globalization and Democracy: Impact on Political Systems
10. Globalization and Nationalism: Rising Trends and Conflicts
11. International Organizations and Global Politics: UN, WTO, and Beyond
12. Future of Globalization: Emerging Trends and Political Debates

The course aims to explain basic economic concepts and relationships in monetary economics and banking, both central and commercial and investment. The course also discusses international finance, the regulation of financial markets, and efforts to stabilize them. Students achieve basic knowledge about financial instruments and trading policy, history, context, and their development. Upon successful completion, students will understand the functioning of financial markets and the context of finance at both the macroeconomic and microeconomic levels.

Subject syllabus:

1. Money and the Money Market: Transmission Mechanism, Functions of Money, Characteristics of Money, Monetary Aggregates, Current Issues of the Transmission Mechanism.
2. Financial System: Fundamentals of the Financial System, Financial Institutions, History of the Financial System, Basic Financial Concepts, Interest, Interest Rate, Types of Interest, Basic Mathematical Apparatus.
3. Monetary Policy: Types of Monetary Policy, Development of Monetary Policy, IS-LM Model and Monetary Policy, Effectiveness of Monetary Policy, Time Delays, Traditional and Unconventional Tools of Monetary Policy, Quantitative Easing.
4. Banks and Other Financial Institutions: Central Banks, History of Central Banking, Functions of Banks, Bank Balance Sheet, Current State of the Banking Market.
5. History of Money and Banking: Quantitative Theory of Money, History of Banking, Gold Standard, Bretton Woods, Current Monetary Arrangement, Future of Money.
6. Bonds, Stocks, and Financial Derivatives: Asset Valuation, Arbitrage, Capital Valuation, Types of Derivatives, Valuation of Derivatives, Types of Bonds, Bonds and Risk.
7. Function and Structure of Financial Markets: Financial Instruments, Retail Banks, Hedge Funds, Investment Banks, Insurance Companies, Reinsurance Companies.
8. Investment Decision-Making, Risks, and Financial Analysis: Microeconomic Analysis of Investment Decision- Making, Yield, Risk, Decision Models, Financial Analysis, Present Value, Internal Rate of Return, Annuity, Perpetuity.
9. International Finance: Capital Movement, Globalization, Rating Agencies, Multinational Corporations, International Trade, Tariffs, Purchasing Power Parity, International Fisher Effect.
10. International Monetary System and Balance of Payments: Balance of Payments Items, Exchange Rate, Forex, Currency Market, Theory of Optimal Currency Area, Exchange Rate Determination, Types of Exchange Rates, Monetary Integration.
11. Regulation of Financial Markets: Current Issues of Financial Markets, Economic Cycle, Economic Crises, History of Significant Financial Market Regulations, Regulation after the Great Recession, Role of Central Bank and Government, Fiscal Impacts.
12. Alternative Monetary Systems: LETS, Cashless Economy, Complementary and Substitution Currencies, Digital Money, Cryptocurrencies, Labor Vouchers, Chicago Plan, Positive Money.

This course is designed to equip students with a comprehensive understanding of contemporary business practices, integrating insights from economics, business strategy, and political dynamics. The main objective of this course is help students develop their critical thinking skills so that they may better approach complex decisions in a logical, structured and value enhancing manner.

Subject syllabus:

1. First Principles Thinking and Decision Making
2. Intellectual Humility and Decision Making
3. The Scientific Method and Decision Making
4. Intuition and Decision Making
5. Framing problems and asking questions: Zooming in and Zooming out
6. Understanding Biases in Decision Making
7. Techniques to Uncover the Real Lessons from Experience
8. Innovation and Disruption in Business - Understanding the role of innovation in creating competitive advantages and disrupting established markets.
9. Listening: Nonverbal ques, processing and responding
10. The Five Vs of Big Data
11. Data-Driven Decision Making - Emphasizing the significance of data analytics in strategic business decisions.
12. Decision making under uncertainty - Finding possibilities in the unknown.

This is an essential course designed to equip students with the analytical tools and economic theories necessary to understand and evaluate basic concepts and theories of economics, market dynamics, business strategies, and economic policies. This course covers a range of topics from basic economic principles to complex market analysis, aiming to provide students with a comprehensive understanding of the economic factors that influence business decisions and market outcomes.

Subject syllabus:

1. Introduction to Business Economics: Foundations and Scope, Scarcity and Choice, Opportunity Costs, Economic System
2. Consumer Behaviour: Utility Maximization and Demand Analysis: Determinants, Elasticity, and Applications
3. Production and Cost Analysis: Short-run and Long-run Perspectives, Supply Analysis: Production Costs, Supply Curves, and Factors Affecting Supply
4. Market Structures: Analysis of Perfect Competition, Monopoly, Monopolistic Competition, and Oligopoly
5. Market Equilibrium: Price Mechanism and Market Efficiency, Market Regulation, Market Failure and Government Intervention
6. Arbitrage and Trade, Trade Policies
7. Traditional and New Theories of International Trade
8. Economic Integration, Collective Action, Median voter
9. Labour Market Analysis and International Labour Mobility
10. Capital Market Analysis and International Capital Movements
11. Exchange rate theories and Money Market
12. Global Market Analysis: Globalisation and Risks, History of Economic Crises

This course provides a comprehensive overview of the financial systems, illustrating the various components, operations, and the role they play in the economy. It covers the basics of financial institutions, markets, and instruments. Students will explore the interaction between these entities and understand their impact on global economics, business strategies, and political policies. The curriculum is designed to equip students with the knowledge to analyse financial trends, assess risks, and make informed decisions in the financial sector.

Subject syllabus:

1. Foundations of Financial Systems: Introduction to financial systems and their significance in the global economy.
2. Financial Institutions: Overview of banks, insurance companies, pension funds, and other financial institutions.
3. Financial Markets: Examination of stock, bond, forex, and derivatives markets.
4. Monetary Systems and Policies: Understanding central banks, monetary policy, and its impact on financial systems.
5. International Financial Systems: Analysis of global financial markets and international finance.
6. Financial Instruments: Introduction to various financial instruments, including stocks, bonds, and derivatives.
7. Risk Management in Finance: Understanding risk types and risk management techniques in financial systems.
8. Regulation of Financial Systems: Overview of financial regulations, their purpose, and impact.
9. Technology in Financial Systems: Exploration of fintech, digital currencies, and their influence on traditional financial systems.
10. Financial Crises and Their Management: Historical overview of financial crises and lessons learned.
11. Sustainable Finance and Ethics: Discussion on ethical investing, ESG (Environmental, Social, and Governance) criteria, and sustainability in finance.
12. Innovation in Financial Systems: Insights into recent innovations in financial products, services, and markets.

The course systematically analyzes the reasons and consequences of public policies. It deals with the economic justification of arguments for state interventions in market functioning. Upon successful completion, students will be able to analyze a wide range of government interventions in the economy, including their unintended consequences.

Subject syllabus:

1. Economics and economic policy – the relationship between the public and private sectors, limits of economic policy
2. Concepts of economic policy – policy making, interventionism, evaluation of economic policy
3. Market failure and government failure – modern approaches to their identification and resolution
4. Political vs. economic cycle - The problem of information, motivations, and time delays
5. Fiscal policy – structure of public budget revenues and expenditures, debt.
6. Monetary policy – inflation vs deflation, tools, monetary cycle, the relationship between fiscal and monetary policy
7. Economic policy in the world of globalization – international trade, migration, investment, sharing economy
8. Social policy – health policy, public insurance, pension security
9. Social policy and problems of social services management
10. Consumer protection policy
11. Policy on the protection of economic competition and labor market - antitrust legislation, employee protection, unions.
12. Environmental policy - Sustainable development, energy, and natural resources.

The aim of the course is to provide students with a comprehensive understanding of the interconnectivity of the global economic order and explain the process of shaping the world economy into its current systemic form. The students will also acquire the ability to compare key economic factors across different economies. In addition to a systemic approach, students will be introduced to the comparative method of world economics. By combining knowledge of key historical contexts and practicing knowledge of current economic events, students will learn to analyse contemporary and future trends in the world economy.

Subject syllabus:

1. Introduction to the issues of the world economy
2. Formation of the world economy at the turn of the 19th and 20th centuries
3. Post-war period and subsequent phases of division and reunification of the world economy
4. Changes in the distribution of the global economy
5. Development of international trade and international trade policy as the foundation of economic relations
6. Role of Technology and Internet in Global Economy
7. Globalization of the world economy, international flows of goods, services, and capital
8. International economic law and international treaties
9. Europe and the European Union as traditional centers of the world economy
10. The United States of America as the modern centre of the world economy
11. Changing roles of world economic centers with an emphasis on Japan and China
12. Russia and developing regions

This course offers a comprehensive introduction to the principles and practices that underpin public financial management. Students will explore how government policies are financed, budgeted, and managed, examining both the theoretical foundations and practical applications of public finance. The curriculum covers a range of topics from the role of government in economic markets to the intricacies of budget preparation, execution, and analysis. Through lectures, case studies, and analysis of current events, students will gain insights into the complexities of fiscal policy, revenue generation, expenditure management, and the socio-economic implications of public financial decisions. This course aims to equip students with the knowledge and skills necessary to understand and evaluate public financial processes, making them valuable contributors to public sector organizations or policy-making bodies.

Subject syllabus:

1. Introduction to Public Finance and the Role of Government
2. Principles of Taxation and Revenue Generation
3. Budgetary Processes and Cycle
4. Public Expenditure Management
5. Fiscal Federalism and Intergovernmental Fiscal Relations
6. Debt and Deficit Financing
7. Economic Analysis of Public Expenditure
8. Social Welfare Programs and Redistribution Policies
9. Public Investment and Infrastructure Finance
10. Fiscal Policy, Stabilization, and Growth
11. Fiscal-monetary mix
12. Challenges in Public Finance: Sustainability and Reform

This course delves into the complex world of international finance and trade, offering insights into how global markets operate, the mechanisms of international financial transactions, and the principles governing international trade. Students will explore the dynamics of foreign exchange markets, international financial management, trade policies, and the economic theories underpinning international trade and investment. The curriculum aims to equip students with the skills to analyse international financial flows, evaluate trade agreements, and understand the impact of global economic events on countries' economies. Particular emphasis is placed on analysing emerging markets, international capital flows, and the intricacies of trade financing. In this topic, we also delve into critical aspects such as the balance of payments, global economic integration, and the role of trade organizations. This subject equips students with the knowledge to navigate the complexities of sustainable international finance and trade, incorporating ethical considerations into contemporary practices. 

Subject syllabus:

1. Principles of International Finance: Introduction to the key concepts and the structure of international financial markets.
2. Global Financial Institutions and Markets: Overview of international banking, the IMF, World Bank, and regional development banks.
3. Foreign Exchange Markets and Rates: Understanding the determination of exchange rates, currency systems, and their impact on international trade.
4. International Trade Theories and Policies: Examination of comparative advantage, protectionism, tariffs, and trade agreements.
5. International Financial Management: Techniques for managing currency risk, international investment, and financing decisions.
6. Global Economic Integration: Analysis of economic integration levels, from free trade areas to monetary unions.
7. Balance of Payments: Understanding the balance of payments accounts and their implications for international financial stability.
8. Emerging Markets and Global Finance: Insights into the role and challenges of emerging markets in the global financial system.
9. International Capital Flows and Crises: Examination of capital flows, causes of financial crises, and crisis management.
10. Trade Financing and Methods of Payment: Overview of methods for financing international trade, including letters of credit and export financing.
11. Global Trade Organizations and Agreements: Understanding the role of the WTO, regional trade agreements, and their impact on international trade.
12. Sustainable International Finance and Trade: Discuss integrating sustainability and ethics into international finance

This course delves into the development of social stratification in society, examining the origins, evolution, and current state of social hierarchies and class structures. It explores theoretical perspectives and empirical research on social inequality, class mobility, and the impact of economic, political, and cultural factors on social stratification. Through a comparative analysis of different societies and historical periods, students will understand the mechanisms that produce and sustain social stratification and the implications for individuals and societies.

Subject syllabus:

1. Introduction to Social Stratification: Definitions and Theoretical Perspectives
2. Historical Development of Social Classes and Stratification Systems
3. The Role of Economic Systems in Shaping Social Stratification
4. Political Institutions and Their Impact on Social Hierarchies
5. Education and Social Stratification: Access and Outcomes
6. The Influence of Gender, Race, and Ethnicity on Social Stratification
7. Social Mobility: Patterns, Causes, and Consequences
8. The Impact of Globalization on Social Stratification and Inequality
9. Technology and Social Stratification: Digital Divides and New Forms of Inequality
10. Culture, Lifestyle, and Consumption as Dimensions of Social Stratification
11. Social Stratification and Health Disparities
12. Contemporary Debates and Future Directions in the Study of Social Stratification

The course provides students with conceptual tools for analyzing strategic decision-making. These tools are applied to topics in economics, business, and politics. Upon successful completion, students will be able to analyze problems involving strategic decision-making. Specifically, the abilities include: (i) applying game-theoretical tools to strategic problems, (ii) understanding the principles of strategic decision-making under various conditions, (iii) identifying rational solutions in strategic situations and (iv) understanding social phenomena involving strategic interactions. 

Subject syllabus:

1. Introduction to Game Theory and Strategic Decision-Making: Principles and Practices.
2. Classification of games, forms, and applications.
3. Strategic games: types of strategies and finding Nash equilibria.
4. Application of strategic games: Prisoner’s Dilemma, Stag and Hunt, etc.
5. Strategic games: mixed strategies, equilibrium in mixed strategies.
6. Extensive games: backward induction, strategic form, subgame perfect equilibrium, and applications.
7. Strategic modifications of games, commitment, repeated games – reputation and cooperation.
8. Strategic and dynamic games with incomplete information.
9. Firm decision-making on price and quantity (perfect vs. imperfect competition).
10. Firm decision-making in Oligopoly markets – Cartel, Cournot, Stackelberg, and Bertrand´s duopoly models, etc.
11. Decision-making under risk and imperfect information.
12. Decision-making in the labor market: unions and signaling games.

This course offers an in-depth exploration of the political and economic landscape of Central Europe, focusing on the historical, contemporary, and emerging trends that shape the region's political and economic dynamics. Students will gain insights into the unique socio-political and economic structures of Central European countries, their integration into European and global systems, and the challenges and opportunities they face in the 21st century. Through a blend of theoretical frameworks and case studies, the course aims to equip students with a comprehensive understanding of the interplay between politics and economics in Central Europe.

Subject syllabus:

Introduction to Central Europe: Historical Context and Contemporary Boundaries
Political Systems of Central Europe: Democracy, Governance, Rule of Law
Economic Transformations in Central Europe: From Planned to Market Economies
The European Union's Influence on Central European Politics and Economics
Security Issues and NATO's Role in Central Europe
Monetary Policies in Central Europe
Environmental and Energy Policies in Central Europe
Central Europe in the Global Economy: Trade Relations and Economic Partnerships
Migration and Labor Markets in Central Europe
Populism and Political Movements in Central Europe
Foreign Policy and International Relations of Central European Countries
Future Challenges and Opportunities for Central Europe: Economic Security, Integration, Innovation, and Identity

90 % of the world’s data has been created in the last 2 years (source: US Chamber of Commerce). With this massive influx of information, the human decision-making process has become both more complex and vital to successful decision outcomes. When Adam Smith “the father of modern economics”, wrote his seminal work in economics (“The Wealth of Nations”) he laid out the principles that laid the foundation of classical economics. But a lot has changed since he wrote the book back in 1776 (!). Two very notable variables have entered into decision making: 1) the sheer volume of data an economist, business executive and political scientists have to deal with, and 2) the “human element” of economic decision making. As an example of #2) might be if someone gave you two free concert tickets for you and your teenage daughter to see Taylor Swift, and it started to rain just as the concert began. If you left with her at the first few raindrops…..well, good luck with that. The “utility” of that free ticket to you might be minimal, but to your daughter it might be a vastly different story. Another dynamic; how to filter out irrelevant data (the white noise) to make effective decisions. We will explore and try to provide answers to these dilemmas, and utilize modern tools and theories (statistical analysis, AI, etc) to enable human decision makers to optimize utility, parse the data, and focus their energies on resource optimization and creative ways to improve their business.

Subject syllabus:

1. Course Introduction
2. An Introduction to Human Decision Making
3. Methodology for the study of human decision making
4. Decision making under conditions of risk and uncertainty
5. Decision making in time
6. Decision making in a social context 
7. Decision making in Management 
8. Decision making in politics
9. Decision making in public policies
10. Statistical impact on decision making
11. Avoiding the “Following the Herd” mentality
12. Summary and key takeaways

This course introduces the fundamental concepts and tools of econometrics, applied statistic and machine learning for analysing economic, business, and political data. Student will learn how to collect data, transform them, and use them in their analysis. Next, the students learn basic models such as regression, panel data models, time series data and models of unsupervised and supervised learning. They will learn how to use such models, their advantages, and disadvantages and what is their optimal usage. Emphasis is placed on practical usage of the models on real data, how to explain them to common audience and preparing students for advanced studies and professional careers in their fields.

Subject syllabus:

1. Introduction to Econometrics, Statistics and Machine Learning: Concepts and Strategic Importance
2. Python – Introduction into Python, Overview of the Syntax and Packages
3. Descriptive Statistics and Data Visualization, Source, Transformation and Properties
4. Linear regression and Multiple Linear regression– Sampling and Estimation, Hypothesis Testing, Distribution, Simple Linear Regression
5. Causality vs. Correlation – Introduction into the problems of causality, Granger Causality
6. Panel data – Fixed and Random effects
7. Time series data – ARIMA, SARIMA, Trend, Seasonality, Cycle, Residual
8. Nonlinear Regression and Logistic Regression: Theory and Application
9. Endogeneity and Instrumental variables: Identification and Estimation in Econometric models
10. Supervised learning – Super Vector Machines, Naive Bayes, Decision trees, Neural Networks, K-nearest Neighbor Algorithm
11. Unsupervised learning – Clustering, Autoencoders, anomaly detection, Principal component analysis
12. Advanced Models, Practical Examples how the Models Are Used in the Real World. Introduction into DSGE.

This course on Cohesion Policy delves into the European Union's strategies for promoting economic, social, and territorial cohesion among its member states. It aims to reduce disparities between regions, fostering sustainable development and integration through various funding mechanisms. Students will explore the theoretical underpinnings, implementation practices, and impacts of cohesion policy, gaining insights into its role in shaping regional development, enhancing competitiveness, and supporting structural adjustments in member states. The course will equip students with a comprehensive understanding of the principles and operational frameworks of cohesion policy, preparing them for roles in policy analysis, development planning, and regional governance.

Subject syllabus:

1. Introduction to Cohesion Policy: Objectives and Historical Evolution
2. Theoretical Foundations of Regional Development and Cohesion
3. Structural Funds and Cohesion Funds: Mechanisms and Allocation
4. Cohesion Policy Programming and Planning Process
5. Project Cycle Management in Cohesion Policy
6. Cohesion Policy and Regional Innovation Systems
7. Territorial Cooperation and Cross-Border Projects
8. Evaluation and Impact Assessment of Cohesion Policy
9. Cohesion Policy in the Context of EU Enlargement
10. Challenges and Future Directions of Cohesion Policy
11. Cohesion Policy and Sustainable Development
12. Case Studies: Success Stories and Lessons Learned in Cohesion Policy Implementation

The course aims to give students the fundamental information and abilities needed to evaluate and comprehend data to make strategic decisions. Statistical analysis, predictive modeling, and data visualization techniques are covered in this course, with an emphasis on their practical applications in business and economic situations. Students will gain knowledge on how to use data analytics tools to drive policy formation, comprehend market trends, optimize operations, and make well-informed judgments. Learners will apply theoretical principles to real-world circumstances through practical projects and case studies, equipping them for data-driven problems in their professional careers.

Subject syllabus:

1. Introduction to Data-Driven Decision Making: Overview of concepts and importance in modern economics and business.
2. Fundamentals of Data Analysis: Data types, data collection methods, and data quality and essential data sources in Economics and Business.
3. Exploratory Data Analysis (EDA) for Decision Making: Descriptive statistics, inferential statistics, and hypothesis testing.
4. Predictive Analytics in Business: Linear regression, logistic regression, and forecasting models.
5. Data Visualization Techniques: Tools and strategies for effective data presentation and interpretation, the role of dashboards and infographic for data driven decisions.
6. Cost Benefit Analyses (CBA): Foundations of economic evaluation – understanding economic efficiency; discounting and present value, identifying and valuing costs and benefits & sensitivity analysis.
7. Big Data in Economics and Business: Introduction to big data analytics, tools, and applications.
8. Machine Learning Basics for Business Intelligence: Supervised vs. unsupervised learning, and their applications in business decisions.
9. Decision Making Under Uncertainty: Risk assessment, decision trees, and scenario analysis.
10. Financial Analytics: Data-driven approaches to investment, risk management, and market analysis.
11. Customer Analytics and Segmentation: Using data to understand customer behavior and tailor strategies.
12. Evidence based policy: Policy implementation, monitoring, and evaluation.

This course offers an exploration into the cognitive processes behind economic decision-making. The course bridges the gap between psychology and economics, providing students with insights into how emotions, context, and cognitive biases influence the economic choices of individuals and institutions. It challenges the traditional economic assumption of rational decision-making, delving into why people sometimes make irrational choices, and how they can be predictable in their unpredictability.

Subject syllabus:

1. Introduction to Behavioral Economics: Foundations and Key Concepts
2. Heuristics and Biases: Understanding Decision-making Shortcuts
3. Prospect Theory: Analyzing Choices Under Risk and Uncertainty
4. Nudge Theory: Influence and Choice Architecture
5. Behavioral Finance: Market Anomalies and Financial Decision-Making
6. Time Inconsistency and Self-Control: Present Bias and Procrastination
7. Social Preferences: Fairness, Reciprocity, and Altruism in Economic Behavior
8. Loss Aversion and Endowment Effect: The Impact on Consumer Choices
9. Overconfidence and Optimism Bias: Effects on Trade and Business Decisions
10. The Role of Shame in Social Behavior: Implications for Decision Making
11. Cultural Influences on Decision Making: Norms, Values, and Beliefs
12. Behavioral Public Policy: Applying Behavioral Economics to Policy Design

As policy making has been forced to adapt due to dramatic changes in business, political, and economic landscape, it may be a precursor to even faster change ahead. All this has (or will) have a profound impact on future policy making.

Subject syllabus:

1. Overview and Introduction
2. Policy: Political vs. Corporate vs. Economic; and the impact of each
3. Policy Design and Policy Tools
4. Success or Failure of Policy
5. The Impact That Outside Forces Have on Policy
6. What’s in it for Me? The Unspoken Motivation behind Policy Decisions (having spent literally months in Washington DC, most of it in Congressional offices, I can speak to this personally – no text needed)
7. Adjusting Policy to Account For External Factors
8. Policy-making in Business and Government. As of 2017, Apple was the most profitable company on per-unit sales in history; Google ages in reverse – the more it’s used the more efficient it becomes. I personally worked on a project with a credit card company where one of the employees told me – if your teenager uses a credit card, within two years chances are we know more about them than their parents. Maybe it’s time for government policy changes?
9. Government Policy will eventually need to be adjusted to reconcile increasing entitlement benefits, climate change, aging demographics, record levels of debt, etc.. All of the world’s largest economies face similar circumstances.
10. What does the future hold?
11. Nudges – how behavioral science is used to guide decisions that may help.
12. Summary and conclusions.

The practically oriented course aims to introduce security threats, risks and opportunities, their sources, and their analysis in a structured way understandable for beginners. The risk management system is approached at two levels: at the level of the state and at the level of the organization, while the process management principles of threat management are always applied. Possibilities of eliminating risks and methods of their identification, international standards of risk management, as well as the connection of risk management with the creation of strategic conceptual documents are discussed in detail.

Subject syllabus:

1. Process approach to risk analysis, basic terminology
2. Strategic, security and operational environment of the organization – system theory
3. Risk assessment
4. Risk management
5. Selected methods of risk analysis
6. Selected risk management methods
7. Asset analysis, threat analysis, risk evaluation and management at the state level (risk map) - case study
8. Asset analysis, threat analysis, risk evaluation and management at the organizational level (risk map) - case study
9. Hybrid aspects in the risk management process
10. System setting of risk management in the organization
11. International standards for risk management
12. Implementation of risk management theory into public strategies

This course offers an in-depth exploration into the fundamental aspects and structures that underpin private law. Designed for students seeking to understand the legal frameworks governing private relationships, this course covers a range of critical topics. Through this course, students will gain a robust understanding of the principles and applications of private law, equipping them with the knowledge essential for legal professionals, as well as individuals interested in the legal aspects of private relations.

Subject syllabus:

1. Regulations and Basic Principles of Private Law
2. Natural and Legal Persons
3. Contractual and Legal Representation
4. Things and their Division
5. Legal Facts
6. Family Law
7. Absolute Property Rights
8. Law of Succesion
9. Contract
10. Security of a Debt
11. Obligations Arising of Juridical Acts
12. Obligations Arising of Torts

The main objective of the course is to acquaint students with the similarities and differences of contemporary European civil societies and to examine the role of cultural, social, and political factors in the processes of European public sphere formation within the process of European integration. In the first part stress will be laid on the description and interpretation of presently existing varieties of European civil societies. The course will help the students to understand the main historical roots of European plurality, i.e., the political, economic, and cultural processes that engendered this plurality. In the second part the pivotal theoretical concepts of civil society and public sphere will be discussed and applied to a transnational (European) level. The role of civil societies´ plurality in relation to the quest for a European civil society and European public sphere will be explored and examined.

Subject syllabus:

1. Examining European diversity
2. Defining Europe and the Concept of Nation in European Cultures (anthropological perspective)
3. Defining Europe and the Concept of Nation in European Cultures (historical perspective)
4. European Modernities
5. Models of Nation/Civil Society Formation
6. Central Europe and Post-communist Civil Societies
7. The Concept of Civil Society and the Public Sphere
8. Beyond the Nation State. Globalization as a Challenge to the Modern State
9. Civil Societies in Europe or European civil society?
10. European Identities as a Quest for a Positive Identity
11. Europe as the Sphere of Publics and Active Borders?
12. Europe – Community of Memory?

The course focuses on equipping students with the knowledge and skills necessary to manage and lead innovation within organizations. This course covers the dynamics of technological change, strategies for innovation management, and the integration of technology to achieve competitive advantage. Students will explore the processes of developing, implementing, and managing new technologies and innovations, including product and service innovation, open innovation, and digital transformation strategies. Through case studies, discussions, and practical exercises, students will learn how to foster an environment that promotes creativity, innovation, and sustainable growth in the face of rapid technological change.

Subject syllabus:

1. Introduction to Technology and Innovation Management: Key Concepts and Importance
2. Theories of Innovation and Technological Change
3. Managing Research and Development (R&D) for Innovation
4. Strategies for Technology Adoption and Diffusion
5. Intellectual Property Rights: Protection and Management
6. The Role of Entrepreneurship in Innovation
7. Open Innovation and Collaborative Technologies
8. Digital Transformation: Strategies for Managing Digital Innovation
9. Innovation Ecosystems and Networks
10. Managing Organizational Change for Technological Innovation
11. Sustainability and Innovation: Integrating Green Technologies
12. Future Trends in Technology and Innovation Management: Challenges and Opportunities

The aim of the course is the introduction of the basics of EU law to students, both by introducing the institutional law of the EU and the main areas of substantive EU law. Firstly, lectures will focus on supranational character of the EU, membership in the EU and its benefits, legal system, and judicial system. The course will help students understand specific character of the European Union as a unique entity. Most importantly, students will learn how to apply EU law in the Member States, how to invoke it before national courts and how to enforce it. Secondly, attention will be paid to internal market freedoms and competition law, i. e. the core of substantive law of the EU. The four freedoms – free movement of goods, persons, services and capital and payments - will be explained in more detail. The freedoms are closely linked with competition law because competition rules aim at protecting the internal market. Students will analyse case-law of the Court of Justice of the EU, solve practical cases, and discuss relevant issues to understand the importance of EU law to business.

Subject syllabus:

1. European Union between an international organisation and a federation, supranationality of the EU.
2. Membership in the EU and its benefits, rights and obligations of the Member States and the EU.
3. Competences of the EU, principle of conferral, exclusive, shared, coordinating, supplementing competences.
4. System of EU law – characteristics of EU law, legal sources, hierarchy of norms, primary law.
5. System of EU law – secondary law, other norms, Official Journal of the EU, EUR-Lex.
6. Principle of direct effect, principle of primacy, liability of Member States for damage caused by breach of EU law.
7. Judicial system of the EU, proceedings before the Court of Justice of the EU.
8. Internal market, free movement of goods.
9. Free movement of persons, EU citizenship.
10. Free movement of workers, freedom of establishment.
11. Free movement of services and capital and payments.
12. Competition law, cartels, abuse of dominant position.

The Bachelor's Thesis represents a culminating project for undergraduate students, marking a critical transition from theoretical learning to practical application within their chosen field. This capstone assignment requires students to demonstrate their ability to conduct independent research, synthesize academic theories, and apply these insights to address a specific question or challenge.

Through this process, students are expected to showcase their analytical, critical thinking, and problem-solving skills, culminating in a comprehensive document that reflects a deep understanding of their subject matter. The thesis not only serves as a testament to the student's academic proficiency but also as a stepping stone towards advanced studies or professional pursuits.