ECONOMIC THEORIES

Status: Required course

Period: Second year, First semester

ECTS credits: 6 + 2

Class hours: 45 class hours (45 lectures)

Language: Bulgarian

Requirements:

Prerequisites: completed courses in Micro- and Macroeconomics I

Course content

The course main focus is the evolution of economic doctrines from mercantilism to the most recent research areas in economics. The course traces the development of the concepts of wealth, value, market, equilibrium, competition. The focus is on the economic theories linked to neoclassicism and its evolution, and the ongoing debate with dirigisme (Keynesian and Neo-Keynesian economics) in economic theory and practice. Special attention is paid to monetarism as theory and practice. All trends in economic thought are reviewed and analyzed comparatively in their dynamics and an evaluation is made to what extent the basic paradigms and models of contemporary economic theories are applicable to the economic policy.

Course aim

The main course objective is to introduce students to the main fields of economic thought and their chief representatives, and to reinforce knowledge of basic economics categories used in different schools.