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The course will introduce students to the economic functioning of centrally planned economies and the reasons behind their collapse. It will cover the main challenges the countries faced when transforming to market economies and analyze policies that were available and applied through the transition, such as privatization, macrostabilization, approaches to sectoral reallocation, etc. We will explore the advantages and disadvantages of the policies and assess how well they fitted the specific conditions of various countries. We will evaluate to what extent the transition was successful in achieving its goal to establish market economies and to what extent it is still a work in progress.

Using this insight, we will try to understand the dynamics of current important economies with less textbook-like economic systems (China). We will use an interdisciplinary approach – i.e. to combine the introduction to selected institutional facts with relevant formal economic models and occasionally with an insight into quantitative methods which can be used on similar types of issues.

Main instructors of the course are Prague based (prof. Vilém Semerák and prof. Kresimir Zigic), while students of the Faculty of Economics, Business and Tourism, Split will be co-instructed by prof. Vlado Šimić from the Faculty of Economics, Business and Tourism, Split. The classes will be followed in the classroom at the Faculty of Economics, Business and Tourism, Split along with local instructor of the individual course.

Classes will start on November 1 and will last till December 10, 2021.

Take a look at the detailed syllabus of the course.

To take part at this course please fill in the electronic application (opens in new window) ! by October 15th, 2021 by 12:00 h (noon).

For all additional information contact us at cjelozivotno@efst.hr or call +385 21 430 651.