Usa in the world economy
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USA in the World Economy. Doc. Ing. Tomáš Dudáš, PhD. Ing. Peter Reťkovský. Contact information. d oc. Ing. Tomáš Dudáš, PhD. Email: [email protected] Office hours - (D4.16) Monday 9 .00-1 1. 00 Tuesday 11 .00-1 3 .00. Course requirements. Active attendance ( max. 3 absentia)

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USA in the World Economy

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USA in theWorldEconomy

Doc. Ing. Tomáš Dudáš, PhD.

Ing. Peter Reťkovský


Contact information

  • doc. Ing. Tomáš Dudáš, PhD.

  • Email: [email protected]

  • Office hours - (D4.16)

    • Monday 9.00-11.00

    • Tuesday11.00-13.00


Course requirements

  • Active attendance (max. 3 absentia)

  • Written essay on an agreed topic (5-10 pages)


Course outline

  • Introduction

    • Course requirements

    • Economic development in the colonial era

  • 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

  • The birth of the modern American economy in the 19th century II

    • Industrial revolution

    • Birth of the modern corporations

    • USA – centre of innovations


Course outline

  • 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

  • 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

  • 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


Course outline

  • Crisis at the beginning of the 21st century

    • Reasons behind the crisis

    • Comparison with previous crises

    • Possible solution scenarios

    • Political implications

  • 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?

  • 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


Course outline

  • 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

  • Future of the US economy

    • Development scenarios

    • "Alternative histories" as seen from 2100

  • Conclusion and closing remarks


Early economic History of the USA

Ing. Tomáš Dudáš, PhD.


Start of the colonization of North America

  • Motives

    • Religious motives (Puritans)

    • Economic motives (profit)

    • Getting rid of criminals

  • Due to less developed technologies it was a very dangerous process

    • Lost colonies - "LostColonyofRoanoke” in North Carolina (1587-90)


Nations colonizing North America

  • Spain –New Mexico and California

  • Netherlands – New Holland

  • France – Nouvelle-France

  • Russia – Alaska

  • Great Britain– New England, Virginia, Carolina etc.


Economic aspect of the life in the colonies

  • First period – fight for survival

  • Agriculture

    • North – smaller family based farms

    • South – big plantations which used slave labor

  • Industry

    • Traditional crafts needed in the colonies

    • Shipbuilding


Population in the Colonies

  • Biggest cities

    • Philadelphia – 40 000 (1775)

    • New York – 25 000 (1775)

    • Boston – 16 000 (1775)

    • Charleston – 12 000 (1775)

  • Total population in 1790 – 3 929 000

    • European ancestry – 3 172 000

    • Other – 757 000


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