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National Repository of Grey Literature 1 records found  Search took 0.01 seconds. 
Measurement of development of business cycle according to the Austrian school of economics
 Svatoňová, Martina ; Svoboda, Miroslav (advisor) ; Mičúch, Marek (referee)
In the introduction of my work, I will focus on the presentment of the Austrian School and its main representatives. The work analyzes the Austrian business cycle theory, which is based on subjective utility theory and uses the knowledge of Austrian capital theory, monetary theory and the theory of prices. Austrian business cycle theory is based on the general economic theory. This theory suggests that the real interest rate is the market price. As a result of the change in this rate there is a variation in relative price which coordinates the time structure of production. The theory examines the production of higher order and lower order goods as well as the right to change the production of higher order goods to recognize the economic process which disrupts the structure of the economy. The main goal of this work is to identify the economic indicators which can be used to measure and predict the course of the business cycle in the conception of the Austrian school of economics. The theoretical findings are the basis of the practical part of this work. In this section I will try to answer the question whether the current economic crisis fits into the concept of the Austrian school of economics or not.
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