Code:
Term:
ECTS credits:
Lessons per week:
Language:
Instructor:
Form of study:
Spring
6
90 + 90 min
Slovak + English
Brigita Schmögnerová lecture + seminar
The course builds on the basic knowledge of political science. Some prerequisite knowledge of elements of economics is welcome.
The course aims at providing students with knowledge of mutual interactions between economics and politics. At the end of the course student is supposed to demonstrate ability: 1. to integrate basic knowledge of economics and politics; 2. to identify economic interests hidden behind political decisions and political and ideological issues behind economic decisions of governments; 3. to demonstrate an ability to present credible arguments and discuss their conclusions in an environment which might not always be in an agreement; 4. to present their views in writing
The course will consist of two modules: Markets, governments & politics and Business & politics.
The first module will concentrate on economic- decision making at the different levels of governments: national, European and global and will try to develop an understanding how are their economic policies shaped by political ideologies and politics.
The second module will provide students with more in depth analysis how dominant economic interests represented by business interests are structured and how their affect government and every day life of society.

1. Introduction
Module I. Markets, governments & politics
2. Basics of economic theories: market & state
Classical and neoclassical economics. Marxism. Keynesianism. Monetarism. Neoliberalism.
Institutionalism.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters: 35
3.
Political ideologies and economic policies.
Liberalism. Conservatism. The New Right. Social democratism. Socialism. Communism. Third way.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters: 35
4. Markets & Government
Markets: commodity markets, financial markets, labour market. Market competition. Market institutions. Market failures. Regulation and supervision of markets: under-regulation and over-regulation.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters: 3
5. Public sector & Government
Public choice, public goods. Public/private provision of public goods. Government’s failure.
Re-inventing government. Public sector policies: public utilities, social policy, health care policy, housing policy, education policy, pension policy, labour- market policy.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters: 13, 15, 32
6. Public sector & Government (cont.)
7. Fiscal & monetary policy
Tax policy. Budgetary policy. Monetary policy. Policy mix.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters:16, 17, 33
8. European Economic and Social Model
Single market. Eurozone. European economic governance. Social cohesion: social security, public utilities, social dialogue.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters:26,34

9. Globalisation and global economic governance
Liberalisation of product, capital and labour markets. Winners and losers of globalisation.
Global economic governance. Global public goods. Climate Change and Sustainable development. Growth for poor.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: Chapters: 37, 40(B)
10. Financial and economic crisis and future of capitalism
Financial capitalism. Crisis response. Crisis prevention. Regulation and supervision of financial sector. Green recovery.
Module II. Business & politics
11.
Business & government
Corporation, corporatisation & corporatism. Organised business interests. Lobbying. Business in governments. Doing business with governments.
Financial sector and government.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: 20,25
12.
Business & society
Shareholder / stakeholder model. B & stakeholders. Business & (organised) labour. Business and NGOs. Business & community. B & environment. B & Good Governance. CSR & philanthropy.
Primary Readings: Paul A. Samuelson , William D. Nordhaus: 28, 29
13.
Business and European/global economic development and governance
Business and European/global norms and standards. Business and developing world.
14. Conclusion

Paul A. Samuelson , William D. Nordhaus: Ekonómia , Bratislava 1992
Module I.
Chapters from the following:
F.A.Hayek: The Road to Serfdom. (1944)
A. Giddens: Třetí cesta a její kritici. Mladá fronta, Praha 2004
P. Krugman: The Return of Depression. Economics and the crisis of 2008. Penguin Books, UK,
USA, 2008
B.Schmognerova: The European Social Model: Reconstruction or Destruction? FES,
J. Stiglitz: Freefall. Allen Lane, 2010
J. Stiglitz: Globalisation and its Discontents. W.W.Norton & Company, N.York, London 2002
Dokumenty EU, OECD, WB, UN, ILO, etc.
Programy vlád a politických strán.
Module II.
Chapters from the following:
Joel Bakan: The Corporation. Constable. London. 2005
G. Tett: Fool´s Gold. Little, Brown, UK 2009
Kapitoly z publikácií o korporáciách ( TESCO, IKEA, RYANAIR, WAL MART, ENRON, ARCELOR
MITTAL, etc.)
Module I.
D. Harvey: A brief fistory of neoliberalism. Oxford University Press. Oxford, N. York 2005
J. K. Galbraith: The Predator State. Free Press, N. York, London, ... 2008
A. Glyn: Capitalism Unleashed. Oxford University Press. Oxford 2006

R. Peston: Who runs Britain? Hodder, UK, 2008
R. G. Rajan and L. Zingulaes: Saving Capitalism from the Capitalists. Random House Business
Books, London 2004
P.I. O’ Rourke: On the Wealth of Nations. Atlantic Books, UK/USA 2007
J. Schumpeter: Capitalism, Socialism and Democracy. (1942)
J.Stiglitz: Making Globalization Work. Allen Lane/Penguin Books, 2006
J. R. Talbott: Obamanomics. Seven Stories Press. N. York, 2008
Bonn, 2005
Module II.
D.H.Chew, S.L.Gillan: Global Corporate Governance. Colombia University Press, N.York 2009
20% Active attendance at seminars, participation in debates, class preparedness
10% Written class preparation (questions and comments on respective text or a short reflection on the contents of previous lesson)
10% Presentation
10% Midterm test / task (e.g. elaboration of 1 out of 3 or 2 out of 5 given themes, at home / at the lesson)
30% Final test (overall written exam súhrnné preskúšanie vedomostí z celého kurzu písomnou formou)
20% Essay (min. 3 short essays for the 1st year / a longer essay of 7 to 10 pages for the 2nd and 3rd year)
Instructor is expected to provide a midterm evaluation.
A – excellent: 100-93%,
B – very good: 92-84%,
C – good: 83-74%,
D – satisfactory: 73-63%,
E – sufficient: 62-51%,
Fx – fail: 50-0%.
Passing a course assumes that student was not absent at more than 4 lessons.