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Australia from the view of monetary policy in the context of singnificant changes in world economy
Fiala, Vojtěch ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
The Bachelor's Thesis aims to characterize the development of Australian economy since the turn of the past century when as a consequence of quick economic growth of the Asian region, the resource commodity prices , which had substantial impact on the Australian Terms of Trade, rapidly increased. The theoretical part is dedicated mainly to the Dutch Disease theory, which is often associated with that problem. Further, the development of the resource boom and its impact on the Australian dollar exchange rate, selected macroeconomic indicators and the ensuing structural changes in the economy, are analyzed. In the conclusion of the Thesis those changes are summarized and evaluated in relation to the theoretical part.
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Colonialism as a reason for the Dutch Disease in Africa and its implication to economic development and monetary policy
Bauerová, Eliška ; Šíma, Ondřej (advisor) ; Hába, Stanislav (referee)
The main aim of the Bachelor's Thesis is to focus on developing countries and their complicated way to longlasting economic growth and stability. With an example of Africa it is trying to explain that badly used official development assistance together with barely any export diversity of a country can lead to a problem called the Dutch Disease. The first two parts of the thesis describe the theoretical concept as well as historical and current development of the continent. The third part brings recommendations for future development and includes specific macroeconomic data which provide more information related to hypotheses.
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Selected macroeconomic effects of exchange rate appreciation
Šuhajda, Jerguš ; Šíma, Ondřej (advisor) ; Houštecký, Martin (referee)
This bachelor thesis is focused on the effects of exchange rate appreciation. The goal of this thesis is to describe and explain the effects of the exchange rate appreciation on the basis of following indicators: the development of the current account, investments, savings, export and import. The thesis is divided into a theoretical and a practical part. In the practical part, I will illustrate the basic principles and definitions of the exchange rate in general and describe various kinds of exchange rate systems. Secondly, I will closer characterize the balance of payment and examine the basic effects of exchange rate appreciation using the Kappler analysis. Consequently, I will depict the currency appreciation on a graphical chart with particular countries. I will also analyse the development of individual indicators in particular countries.
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Historical development of money in the Czech countries
Švábová, Jana ; Revenda, Zbyněk (advisor) ; Šíma, Ondřej (referee)
The objective of this bachelor thesis is to describe the monetary development of the Czech countries from barter to the tolar currency of the year 1620 in the political-economic context and to refer to the monarchs' politics as a means of obtaining money for his personal usage. The development of the Czech countries is also set in European context by highlighting the trade ties of our state with its surroundings.
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Precious metals as the monetary phenomenon in the history
Kašpar, Jan ; Revenda, Zbyněk (advisor) ; Šíma, Ondřej (referee)
The bachelor thesis focuses on the history of the precious metals in monetary economics. Firstly, a function of the precious metals in monetary standard is introduced together with related prerequisities for an economic development. The thesis deals merely with monetary standards connected mainly with gold and silver. In the next part, a historical period between years 1944 -- 1976 concerning monetary standards is depicted and also this period is assessed from the economic point of view. The final part of the thesis analyses contemporary precious metal market. The author starts with a basic description of the precious metal market and also with its current tendencies and subsequently proceeds to a practical use of the analysis in creating appropriate investment strategy.
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Significant economic events from perspective of U.S. balance of payments and its specifics
Trampota, Simon ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
The primary aim of this bachelor thesis is to acquaint the reader with the U.S. balance of payments, to become familiar with its specifics and then with its help to interpret the impact of key events. The thesis is divided into three main chapters. First chapter is focused on the theory of the balance of payments and its individual accounts. Second chapter deals specifically with the U.S. balance of payments. First the attention is paid to the overall development followed by a mention of the relationship between public debt and current account deficit. This chapter also includes the issue of the U.S. dollar in the position of the main reserve currency. Ending of this chapter is connected with the theme of global imbalances and the paradox of the U.S. net international investment position. The chapter three is made up of individual events, included are also their causes and consequences. The most space is devoted to the subprime mortgage crisis and financial crisis. The main purpose of the final chapter is to provide perspective on these events through the U.S. balance of payments.
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Vývoj struktury devizového trhu se zaměřením na Hongkong a Singapur
Vu, Thi Lan Anh ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
Bachelor thesis analyses the development of the structure of the foreign exchange market. The theoretical part describes global foreign exchange market, its core and functions, subjects entering to the market and also the technique of performing operations. The empirical part focuses on the development of the foreign exchange market in Hong Kong and afterward this market is compared to the foreign exchange market in Singapore, which foreign exchange markets are the world's financial centres.
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Importance of sources of central bank liquidity during the financial crisis. The development of the lender of last resort function
Laga, Václav ; Brůna, Karel (advisor) ; Šíma, Ondřej (referee)
The aim of this thesis is to document the importance of liquidity resources of central banks during banking panics and financial crises and analysis of the development of LLR function. We examined three historical examples: the banking panic of 1866, the Great Depression and the current financial crisis, and we focused on the interaction between the demand for liquidity on the one hand and the supply of liquidity by central banks on the other. On the wide historical background we also analysed the changes in the function of LLR. We present that a restrictive monetary policy during financial market distortions may lead to further disturbances and cause serious recession. The analysis of the BoE during 1866 and of the FED between 2007 and 2009, on the contrary shows that the expansionary stance and considerably endogenous liquidity supply are able to reduce financial market's distortions and mitigate possible recession. Analysis of FED's reaction also indicated that should the LLR remain efficient, central banks must expand their instruments portfolio.
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Analysis of economy and conditions of electricity production by small water energy power station operator and solar-energy operator
Šíma, Ondřej ; Zeman, Karel (advisor) ; Petrášek, František (referee)
Production of electricity from renewable energy sources is very actual in present period by reason of badly adjusted parameters for future development in the area of renewable energy sources. These wrong economical decisions - inadequate financial support of the state, caused large development firstly of solar-energy power stations which has the consequence of raising of electricity price what negatively influences the end-customers, state budget and the whole national economy too. Interest of the topic emphasizes family ownership of two renewable manufacturing resources of electricity -- small water power station and solar-energy power station. In the theoretical part will be at first described all notions of relevance which refer to chosen topic, especially from area of economy, accountancy and energy industry. Then it will be characterized production of electricity from renewable resources, principles and instruments to supporting production of electricity from renewable energy sources with its economic impacts to national economy of the Czech Republic. The analytical part will compare legal environment and ways of financial support of two concrete power stations producing the electricity from renewable resources, i. e. small water power station and solar--energy power station, thereout will come comparison of both projects in light of basic economic parameters which are monitored within economy. In fine of this part will be monitored parameters of both projects analysed and mutually compared. The aim of this Bachelor work is analysis and comparison of production of electricity at two concrete power stations producing electricity from renewable resources, i. e. small water power station and solar-energy power station.
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Causes, course and consequences of present financial crisis and its effect on the Czech republic
Šíma, Ondřej ; Korbel, Jiří (advisor)
The bachelor thesis is focused on financial crisis which began almost three years ago in the USA when the real estate bubble burst. The main goal of this treatise is to explain the most important events that had happened before the burst and led to contemporary problems. It is written in a understandable way. However, everybody can obtain some useful information about crisis and discover that it has been happening on and off since the world became more smaller due to globalization. The thesis is divided into three central chapter. The first one shows us causes of the "big bang" on the american real estate market. It also describes very frequently used term securitization and policy of FED. Morever, we mention symbiotic relationship between China and the USA. The second part clarifies the situation after the burst and briefly refers to visible impacts that will influence our future. I would like to point out the importance of Sovereign Wealth Funds in next years. The last part concentrates on the Czech Republic. Our attention starts at the description of the Czech economy before the crisis, then we go on to crystallise the behavior of our currency CZK during year 2008. The Czech public finance come up at the end.
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