Specialization: course opened to all study programs
Warrantor: doc. PhDr. Martin Bútora
Instructor: doc. Ing. Tomáš Dudáš, PhD. & Ing. Peter Reťkovský
Lecturing hours (weekly): 2
Credits: 3 ECTS
Date: Tuesday 5.00 - 6.30 pm
Room: C1.09
Working language: English
Evaluation: passed/not passed
Aim of the course: The aim of the course is to present the historical development, current state and the future of the US economy – the largest and most developed economy in the world. The first half of the course concentrates on the most important time periods of the American economy (the era of the robber barons, the roaring twenties and the great depression, Reagonomics, Clintonomics), while the second half describes the current structure and trends and the possible future scenarios.
Preliminary timetable of the course:
1. Introduction
- Course requirements
- Economic development in the colonial era
2. The birth of the modern American economy in the 19th century – I
- Birth of a nation
- Labor force and migration
- Development of the modern infrastructure
- Slavery and civil war
3. The birth of the modern American economy in the 19th century II
- Industrial revolution
- Birth of the modern corporations
- USA – center of innovations
4. The Roaring twenties, the great depression and the New Deal
- Birth of the modern consumer society
- Possible causes of the great depression
- FDR and the New Deal
5. The golden age of the US economy – 50s and 60s
- Baby boom and post war prosperity
- Changing society and economy
- Rise of the car culture
6. Stagflation, Reaganomics and Clintonomics
- Nixon and the end of the Bretton wood financial system
- Volcker and the inflation
- Reagan and the taxes
- Clinton and the dot-com bubble
7. Crisis at the beginning of the 21st century
- Reasons behind the crisis
- Comparison with previous crises
- Possible solution scenarios
- Political implications
8. Relations USA-EU, USA-Japan, USA-China
- US policy in the above regions
- US economic interests in EU, Japan and China
- Chinese economic interests in the USA
- Rivalry vs. alliance?
9. Relations USA-Mexico, USA-South America
- US policy in the above regions
- US economic interests in LA
- NAFTA
- Relationship of Latin America towards the USA
10. Comparison of the USA and the EU
- Comparison of social systems
- Comparison of health care
- Immigration
- Innovation
- Currency
- Fiscal and economic processes
- Implications and critical success factors
11. Future of the US economy
- Development scenarios
- "Alternative histories" as seen from 2100
12. Conclusion and closing remarks
