Master’s Program Major

The main objective of the Master’s degree program (major specialisation) in Modern Economic History is to prepare and educate professionally qualified economists who will possess a deeper understanding of economics and economic history within the broader context of the development of significant economic processes and events of the 20th century, with an emphasis on the development of selected major economies. A key strength of the program is the integration of economic and humanities disciplines, which provides a solid foundation for its interdisciplinary nature. Students will become familiar with the relevant contexts, specific features, and phenomena of the preceding period (the 19th century), the real economic developments at the beginning of the 21st century, and the interpretation of economic history within the broader context of political developments. The economic framework of the curriculum is primarily provided by advanced courses in macroeconomics and microeconomics. Graduates will thus be able to explain the main trends in the economic development of key countries, navigate modern economic theories, and interpret economic indicators in the context of long-term development trends.

Key Areas of the Graduate Profile

Professional Knowledge
Graduates can:

• explain the main trends in the economic development of key countries (regions, territories) since 1900, ‐ navigate modern economic theory and interpret economic indicators in the context of long-term trends,
• identify the impacts of global economic events on the economies and economic policies of the most significant states (regions, territories) after 1900, utilising in-depth knowledge of macroeconomics,
• characterise the main methodological approaches used in modern economic history,
• evaluate the connections between important economic and political events of the 20th century,‐ assess the specifics of Czechoslovakia’s (the Czech Republic’s) economic development within the broader context of political and economic developments in Central Europe.

Professional Skills
Graduates can:

• analyse and evaluate current economic processes and predict future developments based on their knowledge of historical economic developments (particularly in interwar and postwar Czechoslovakia),
• apply in-depth knowledge of macroeconomics and microeconomics in evaluating major economic trends and decisive economic events of the 20th century,
• independently interpret the causes and consequences of significant events in 20th-century economic history,
• evaluate the concepts and specifics of the economic policies of major countries in the 20th century within a broader context of identifying parallels and similarities with current global economic developments, and, based on an analysis of economic and historical processes in the 20th century, formulate economic policy recommendations for current economic developments,
• analyse the influence of the economic interests of major powers on actual political decisions in the 20th century.

Main Career Paths for Graduates

Thanks to their advanced knowledge of economics and economic history, graduates of the Modern Economic History program are prepared for specialised positions in economic analysis, economic policy formulation and evaluation, and strategic consulting in both the public and private sectors. They can work as economic analysts and experts in economic policy at key institutions such as the Ministry of Finance, the Ministry of Industry and Trade, the Czech National Bank, or in various government departments focused on economic and budgetary developments. In these institutions, they can contribute to the formulation of economic policies, analyse their impacts, and provide recommendations to support sustainable economic development. In state and public institutions, program graduates can hold positions as advisors in fiscal and monetary policy, for example, evaluating government budgetary measures, economic stimulus packages, or investment strategies. Thanks to a deeper understanding of historical economic processes and trends, they are qualified to provide analytical insights into the current economic situation and to propose effective solutions during economic crises or recessions.

In the private sector, graduates can find employment in economic and consulting firms, where they will apply their knowledge to provide consulting and analysis services for clients across various industries. They can work as economic consultants, providing analytical services in market forecasting, investment strategies, and financial risk. They can also find employment in banks’ analytical departments, where they will focus on predicting macroeconomic trends, evaluating investment opportunities, and analysing global market developments.

Within international organisations such as the European Union, the OECD, or the World Bank, graduates can hold expert positions focused on developing and coordinating economic policies to promote growth and stability within individual member states or regions. They can contribute to formulating recommendations and strategies to address macroeconomic challenges, such as unemployment and inflation, as well as to promote sustainable investment and innovation.

Thanks to the knowledge they have acquired in the field of economic research and analysis, graduates are also prepared for positions as researchers at economic and historical institutes, where they can conduct in-depth studies of economic cycles, research focused on the causes and effects of economic crises, and analyses of long-term trends in key economic indicators. They can also contribute to the creation of specialised publications and reports that will serve as a basis for economic decisions and strategic planning.

Overall, graduates of the Modern Economic History program will acquire skills that enable them to fill analytical, advisory, or managerial positions, both in the Czech Republic and internationally, and to contribute to the development of effective, long-term, sustainable economic policies.

Requirements: Completion of a bachelor’s degree. Information on the master’s program and the admissions process is available on the Faculty of Economics website (here).

Recommended duration of study: 4 semesters

The master’s program comprises 120 ECTS credits. The curriculum consists of the program’s major specialisation (a thematically coherent portion of the curriculum comprising 90 ECTS, culminating in state examinations in the field of study and in economics) and a minor specialisation (30 ECTS), selected by the student within the deadlines specified in the academic year schedule from a designated list of options.

Required courses for the major (57 ECTS credits total)

5EN401 Microeconomics II (6 ECTS)
5EN403 Macroeconomics II (6 ECTS)
5HD336 Economic and Political History of the Totalitarian Regimes (3 ECTS)
5HD404 Czechoslovak Economic History (1918-1992) (6 ECTS)
5HD408 Economic History of the World in the 19th and 20th Centuries (6 ECTS)
5HD414 Economic Development of the Far East after 1945 (4 ECTS)
5HD416 The Economic and Political History of Europe in the 20th Century (4 ECTS)
5HD500 Diploma Thesis Project (4 ECTS)
5HD507 Heuristics and Scholarly Writing (4 ECTS)
5HP405 Transformation processes in the Czech economy (4 ECTS)
5HP406 Economic theory of politics (4 ECTS)
5HP501 Macroeconomic Analysis (6 ECTS)