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The Decentralisation of the Urban Planning Process Demonstrated on Example of the Agglomeration of Brno
Tichý, Jan ; Májek, Jan (referee) ; Pavlovský, Tomáš (advisor)
This thesis focuses on the determination of main changes in the urban planning process to allow for a better and more effective urban design. It applies the work of the Austrian School of Economics on urban planning and regulations. It critically reviews current system of urban planning, it's hierarchy, decision-making process, the role of public, and the role of private ownership and investment. It aims to offer a solution for an improvement in various fields of urban development. Results of this work are applied on an example of the agglomeration of Brno.
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The role of bank loans to non-financial corporations in a business cycle
Kavalírek, Jan ; Mandel, Martin (advisor) ; Kovanda, Lukáš (referee)
The theoretical part of the thesis introduces Austrian theory of business cycles and analyses equilibrium of savings and investments together with the transmission mechanism between savings, deposits, loans and investments. The practical part of the thesis explores business cycle and credit cycle. It analyses an excessive loan expansion of commercial banks together with a excessively expansive policy of central bank. The thesis deals with a procyclical action of commercial banks and contemporary tools of central bank with their limited effectiveness. Furthermore, the thesis analyses the possible adjustments of monetary policy with the emphasis on the macroprudential policy and its individual credit indicators. The end of the thesis deals with the method of credit rationing and with the imbalance between demand and supply at the credit market of non-financial corporations, which is modelled using the technique of disequilibrium model.
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The Decentralisation of the Urban Planning Process Demonstrated on Example of the Agglomeration of Brno
Tichý, Jan ; Májek, Jan (referee) ; Pavlovský, Tomáš (advisor)
This thesis focuses on the determination of main changes in the urban planning process to allow for a better and more effective urban design. It applies the work of the Austrian School of Economics on urban planning and regulations. It critically reviews current system of urban planning, it's hierarchy, decision-making process, the role of public, and the role of private ownership and investment. It aims to offer a solution for an improvement in various fields of urban development. Results of this work are applied on an example of the agglomeration of Brno.
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(Non)Austrian General Theory of the Good
Ivanská, Barbora ; Špecián, Petr (advisor) ; Chmelová, Pavla (referee)
The thesis is concerned with the question whether the general theory of the good as formed by Carl Menger is in accordance with the methodology of the Austrian school of economics. The individual aspects of the general theory of the good contradicting the methodological subjectivism are identified using a theoretical analysis based on the initial characteristics of methodology and theory. The general theory of the good had become a part of Austrian paradigm despite some of its flaws. It is Mises's, Hayek's and especially Rothbard's ways of using this theory that are subjected to criticism in this thesis.
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Raising the minimum wage and the Austrian apriorism
Panýr, Jakub ; Špecián, Petr (advisor) ; Brožová, Dagmar (referee)
This thesis deals with a problem of a relationship between minimum wage and potential consequent unemployment. While solving it, I am trying to connect apriorism of the misesian branch of the Austrian school and a Bayesian approach. It will enable us to correct our subjective belief in certain hypothesis with regard to the new facts which may appear. Sentences of the Austrian school about a certain positive relationship between raising the minimum wage and unemployment of unskilled workers, based on claiming about a synthetic a priori character of these sentences, seems as not so convincing, after confrontation with the Bayesian epistemology and facts from other disciplines. Then I am trying to show, that refusing of a quantification of unique events seems to be wrong and not coherent with callings of the Austrian school for "realistic" foundaitons. The Austrian school may according to these findings give up its claim about unchallengeable certainty of its theories, and complement it with a healthy dose of this Bayesian approach.
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Causes of the economic crisis in the Eurozone according to the Austrian school of economics
Coritar, Jan ; Pavlík, Zdeněk (advisor) ; Voříšková, Barbora (referee)
The main objective of this bachelor thesis is an analysis of the economic crisis in the Eurozone. This analysis is based on the principles of the Austrian business cycle theory, which is different from the mainstream economics. This thesis examines the causes that led to the outbreak of the economic crisis and how adoption of the single currency led to increased economic division among member states. Subsequently, there is an examination of the impact of the crisis on the member economies and what does the present situation in Eurozone look like. In other words what are the main hurdles still hindering the rebalancing of the economic division among member countries and what are the latest measures taken by ECB.
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European debt crisis according to the Austrian School of Economics
Talian, Peter ; Pavlík, Zdeněk (advisor) ; Melcher, Ota (referee)
Debt crisis is at present a major problem not only in the eurozone or Europe but also in the whole world. This bachelor thesis deals with the origin of the debt crisis, explains current status and specific issues of PIIGS countries within the eurozone. Furthermore, it introduces the Austrian School of Economics, its history, main representatives and thier principles. In its third part this thesis interprets the Trade Cycle and the Credit Expansion Theory according to the Austrian School. The subject of this part of the thesis is to find the connection between the debt crisis and the theory. In the last part the thesis reflects on the possible ways the debt crisis is conducted or debated by the EU and speculates about the future of the eurozone. On the contrary to EU measures, there will be also Austrian debt crisis sollutions given.
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Causes, progress, consequences and another aspects of the global financial crisis 2008 in international comparison
Novotný, Martin ; Dočkal, Dalibor (advisor) ; Urban, Luděk (referee)
The subject of this thesis is the description of trends in economy during global financial crisis in 2008. The main object of this work is to find causes and especially to analyze the mortgage bubble in financial markets, panic, uncertainty and risk spreading to other sectors. This work analyzes many consequences, which have been caused by financial crisis on global economy. This thesis also focuses on evaluation of important institution's influence, such as investment banks, insurance companies and rating agencies on financial crises. There are used microeconomic and macroeconomic indicators to analyze financial markets and national economies of countries which were affected by the crisis. Also is analyzed if interventions of central bank and government were eligible. This issue is discussed in part which describes economic cycles from perspective of the Austrian school of economics.
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Monetary causes of the business cycle
Tůma, Aleš ; Koderová, Jitka (advisor) ; Havel, Jan (referee)
This thesis deals with the monetary theory of business cycles as presented by the so called Austrian school of economics. It analyzes the different economic effects of investments financed by saving as opposed to investments financed by credit expansion. It shows that in the latter case an unsustainable situation results in which economic actors try both to invest and to consume more at the same time, which is physically impossible. The result is recession and liquidation of malinvestments made during the boom. The thesis also provides an answer to critiques of the Austrian business cycle theory by proponents of the rational expectations hypothesis. Furthermore, a critique of traditional national income accounting measures, namely GDP, is put forward. These measures fail to adequately show the described cyclical changes in the economy's productive structure, e.g. the artificial boom and subsequent correction. Gross domestic revenue (GDR) is proposed as an alternative measure that adds the expenditure on intermediate products back to GDP. In the last part of the thesis GDR is calculated for the Czech economy.
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