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The Great Depression of 1929-33 and the current crisis
Makovská, Kristýna ; Sirůček, Pavel (advisor) ; Pavelka, Tomáš (referee)
This thesis addresses the subject of the Great Depression of 1929-1933 and the current crisis and finally compares the work of both themes. The introduction takes us to the 1920s and points out mistakes the developed countries committed and which led to a colossal collapse of the economy. The significant part of the work deals with the initial impact of the current crisis on the population in terms of social impact and introduces us to the macroeconomic indicators. It examines the causes that triggered the crisis. The work is based on the study of literature dealing with the Great Depression of the 1930s and the current crisis and processing of newspaper economics.
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Great Depression 1929–1933
Kořínek, Jan ; Sirůček, Pavel (advisor) ; Breňová, Lubomíra (referee)
In this Bachelor's Thesis I am focusing on the Great Depression of 1930s. This Bachelor's Thesis is mainly focused on the crisis in the United States of America, where the crisis was the deepest. The first part describes the successful economic period after the First World War, the so-called Golden Age that preceded the crisis. The second part focuses on the situation in the stock market during the Great Crash and the subsequent effort to solve the crisis by former President, Republican Herbert Hoover. The third chapter deals with the period of Democratic President Franklin Delano Roosevelt, in particular his plan New Deal and the Second World War.
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The concept of man in economics
Zeman, Jakub ; Sirůček, Pavel (advisor) ; Džbánková, Zuzana (referee)
The thesis discusses the concept of man in the standard economic thinking. It focuses on a critical evaluation of the selected fundamentals. It presents some possible alternative views which show deficiencies in axiomatics of the main currents of economic modeling. Emphasizing the interdisciplinary connections of knowledge about human thought and behavior the thesis is trying to suggest some directions for further development in the approach to human beings in economics to better reflect their defining natural characteristics. It also mentions some of the manifestations of these characteristics, which can be obtained by drawing on the knowledge of psychology, behavioral economics, neuroeconomics and other disciplines and which are inconsistent with standard models, because they lead to errors and irrationality, implicitly produce bounded rationality or attribute the constitutive importance during the formation of thought to completely different elements. In conclusion, the thesis passes to reflect the position of irrationality in the inner world of human's brain and also in the outside world - the economy.
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Selected aspects of cohesion policy of European Union
Janovský, Petr ; Sirůček, Pavel (advisor) ; Koderová, Jitka (referee) ; Janíčko, Pavel (referee)
This project is structured into three parts. The first one describes fundamental information about EU which serve as the base for the further analysis. It is focused on institutional framework of the Union and also freedom of movement for goods, services, persons and capital in the unique market. Except of the description of prime principles, there are as well outlined current failures and reforms which could solve them. Strategy of cohesion policy, its goals, tools and financial scope are explained in the text. The second chapter shows impacts of structural policy of EU on the Czech Republic economy. This article will be engaged in questions of structural funds redistribution through Operating programmes, net balance on financial transfers between the Czech Republic and the EU budget and the impact of this transfers on the Czech economic growth. The last theoretical part researches in addition to effects of cohesion policy also further important aspect of the european integration - participation in the unique market. General economic models as Solow model or 2x2 model are exploited and extended by aspects of integration. Subsequently there are researched impacts on allocation effectiveness and welfare of member countries. The purpose of the project is to map the process of sources redistribution in EU, show its uselessly huge administrative severity, consider about its effects and benefits and describe wider contexts of cohesion policy.
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Theory of the Firm from the view of New Institutional Economics and some Aspects of Institutional Framework Quality in the Czech Republic
Vitík, Robert ; Sirůček, Pavel (advisor) ; Soukup, Jindřich (referee) ; Žák, Milan (referee) ; Mlčoch, Lubomír (referee)
This doctoral thesis presents the basic and the main developments of the theories of the firm rooted in Transaction Cost Theory (TCT). Since the article of Coase on the nature of the firm, this question has been elaborated by number of economists. In my point of view, I would like to introduce the last theory developed by the representative of the school called New Institutional Economics. The theory concentrates on the role of institutions. We distinguish institutions formal and informal. The formal are laws, constitution, regulations, contracts and other written rules. The informal don't require a written form and they represent informal restrictions such as rules of behaviour, conventions, traditions and habits. The main purpose of the institutions in their various forms is mainly to protect property rights, enforce voluntary contracts and establish the physical and regulatory infrastructure to facilitate economic activity. Generally, we can call them the rules of the game. They inform us about possible economic behaviour and give us basic restrictions in this sense. First -- the theoretical part of this thesis, we can find a simple model with human asset specificity based on TCT. The main proposition is that transactions with a high level of asset specificity are more probably internalised because the firm handles better such transactions compared to the market, even if asset specificity increases the cost of coordination in the firm. If the hierarchy, for example through the formation of routines, may enhance the efficiency compared to the market, we can modify the previous model. The model developed according to a Knowledge-based view assumes that asset specificity reduces transaction costs inside the firm and increases transaction costs on the market. In the conclusion of the theoretical part is discussed the reply on first formulate hypothesis if the TCT is still compatible with a newer Capability and Knowledge based view. In my opinion based on the presented arguments and views, both theories are compatible, they can answer more questions and explain more issues. The last step links the aforementioned theories into one Theory of firm boundaries. In the practical part of the thesis, I bring basic arguments about the institutional framework quality in the Czech Republic. These arguments rely on the latest studies of the international institutions such The Transparency International, The Heritage Foundation, The Kurtzman Group and mainly The World Bank. Studies reveal certain weak arrangements concerning for example the number of procedures when starting a business, complicated construction permits, rigidity of working hours, time-consuming and administrative demanding tax system, duration of judicial process which results in ineffective contract enforcement and mainly poor protection of property rights. Taking these disclosures into account we have to say that emergent transaction costs are enormous. These transaction costs influence negatively the competitiveness of the firms and the whole Czech economy. Therefore a negative response to the second hypothesis relating to the quality of the institutional framework in the Czech Republic.
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Psychological aspects of the theory of advertisement
Bahník, Štěpán ; Sirůček, Pavel (advisor) ; Džbánková, Zuzana (referee)
Present work describes two ways of application of psychological findings to economic theory of advertisement. Psychological findings may help with evaluation of different economic approaches of the study of advertisement. Evidence from psychology of persuasion is applied to the question, whether advertisement is used as a source of information. The work then inquires into the possibility, that advertisement can enhance utility. Summarized studies indicate, that it may indeed be so. During the inquiry, neuroeconomics is applied and it's basic methods are presented. The concluding part describes ramifications of chosen approach.
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Analysis of gross domestic product of the Czech Republic
Matela, Michal ; Pavelka, Tomáš (advisor) ; Sirůček, Pavel (referee)
The aim of this thesis is to analyze the evolution of the total gross domestic product of the Czech Republic from 2004 to 2009. This is the planting of GDP in the broader macroeconomic context. The work is divided into two parts, theoretical and practical. The theoretical part aims to acquaint the reader closer to the macroeconomic analysis, gross domestic product with its definition, the basic concepts necessary to understand the whole issue and the practical part of the real factors influencing its evolution.
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Predictors of current economic issues
Mlýnek, Jonáš ; Sirůček, Pavel (advisor) ; Nečadová, Marta (referee)
In 2007, the U.S. economy plunged into the deepest recession since 1930's. Later on problems poured into the rest of the world, which just as the U.S. lived in illusion that any slowdown is impossible. Despite widespread optimism, a few harbingers drew attention to unhealthy fundamentals. This thesis deals with the phenomenon of economic crises forecasting, focusing on the aforementioned recession. It aims at analyzing of the most discussed predictions and introducing their authors who were not only highly respected figures, but also less well-known economists. Nouriel Roubini, who became a symbol of economic forecasting, is discussed in closer detail. The analysis of his work focuses on the development, consistency and verification of his views. It also draws general conclusions on Roubini's predicting.
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