Template-Type: ReDIF-Article 1.0 Author-Name: Dzintra Atstaja Author-Name-First: Dzintra Author-Name-Last: Atstaja Author-Email: dzintra.atstaja@ba.lv Author-Workplace-Name: BA School of Business and Finance Author-Name: Rozita Susniene Author-Name-First: Rozita Author-Name-Last: Susniene Author-Email: rozita.susniene@gmail.com Author-Workplace-Name: Kaunas University of Technology Author-Name: Marina jarvis Author-Name-First: Marina Author-Name-Last: jarvis Author-Email: marina.jarvis@ttu.ee Author-Workplace-Name: Tallinn University of Technology Title: The Role of Economics in Education for Sustainable Development; The Baltic States' Experience Abstract: There are often no easy answers to economics, environmental and sustainable challenges on the way to sustainable development. The relationship between education and sustainable development is complex. Education, raising awareness and modifying behaviour is one of the key elements to reduce the environmental impact of an ever-increasing population. Universities all over the world play a major role in the development and dissemination of ideas of sustainable development. This article identifies general trends in the implementation of education for economics and sustainable development into higher education in Latvia, Lithuania, and Estonia (hereafter the Baltic States). The purpose of this study is to explore to what extent and by which approach institutions of higher education in the Baltic States have been attempting to incorporate sustainability into the curricula, and what have been the results. The article consists of a research in which the first section is dedicated to scientific publications on sustainable development in Baltic States and Europe, the second section analyses the cooperation between the participants of the Baltic University programme, and the third section describes the results of a survey. The authors of the article have questioned the objective of the course as well as discussing its economic aspects, and consider whether an education on sustainable development includes a balance between nature, the economy, and society. Also, the current initiatives and practices of higher education institutions were as¬sessed. From this analysis it is possible to determine the elements of academic development that would most likely result in a change in educational development and delivery. Classification-JEL: Q01, A29 Keywords: economics, economy, education for sustainable development, teaching methods, Europe, Baltic States Journal: International Journal of Economic Sciences Pages: 1-29 Volume: 6 Issue: 2 Year: 2017 Month: November File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1267 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1267?download=1 Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:1-29 Template-Type: ReDIF-Article 1.0 Author-Name: Klara Cermakova Author-Name-First: Klara Author-Name-Last: Cermakova Author-Email: klara.cermakova@vse.cz Author-Workplace-Name: University of Economics in Prague Title: Brief History of Currency Separation ? Case study of Czech and Slovak Koruna Abstract: This paper aims at describing the process of currency separation of Czech and Slovak koruna and its economic and political background, highlights some of its unique features which ensured smooth currency separation, avoided speculation and enabled preservation of the policy of a stable exchange rate and increased confidence in the new monetary systems. This currency separation was higly appreciated and its scenario and legislative background were reccommended by the IMF for use in other countries. The paper aims also to draw conclusions on performance of selected macroeconomic variables of the two successor countries with impact on monetary policy and exchange rates of successor currencies. Classification-JEL: E44, E50, E52 Keywords: currency separation, exchange rate, monetary policy, economic performance, inflation, payment system, central bank Journal: International Journal of Economic Sciences Pages: 30-44 Volume: 6 Issue: 2 Year: 2017 Month: November File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1635 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1635?download=2 Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:30-44 Template-Type: ReDIF-Article 1.0 Author-Name: Marta Ferreira Dias Author-Name-First: Marta Author-Name-Last: Ferreira Dias Author-Email: mfdias@ua.pt Author-Workplace-Name: GOVCOPP, DEGEIT, University of Aveiro Author-Name: Silvia F. Jorge Author-Name-First: Silvia Author-Name-Last: F. Jorge Author-Email: sjorge@ua.pt Author-Workplace-Name: GOVCOPP, DEGEIT, University of Aveiro Title: Market power and integrated regional markets of electricity: a simulation of the MIBEL Abstract: We consider a partial equilibrium model where we study the integration of two oligopolistic markets that are not symmetric (in number of ?rms, in demand or market dimension). We present a simulation for the integration of the Iberian wholesale electricity market (MIBEL) and show how the exercise of market power will evolve with regional full integration. The simulation results show that, as expected, market power is lower after full integration. However, even after full integration, market power is still a feature of the market. There fore, the full bene?ts of liberalisation and integration are not seized by the consumers since wholesale prices persist to be higher than marginal costs. Classification-JEL: L94, L49, L11 Keywords: MIBEL, Market Power, Cournot Simulation Model Journal: International Journal of Economic Sciences Pages: 45-67 Volume: 6 Issue: 2 Year: 2017 Month: November File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1342 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1342?download=3 Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:45-67 Template-Type: ReDIF-Article 1.0 Author-Name: Pavlína Hejduková Author-Name-First: Pavlína Author-Name-Last: Hejduková Author-Email: pahejdu@kfu.zcu.cz Author-Workplace-Name: University of West Bohemia, Faculty of Economics Author-Name: Lucie Kureková Author-Name-First: Lucie Author-Name-Last: Kureková Author-Email: xkurl06@vse.cz Author-Workplace-Name: University of Economics in Prague, Faculty of Economics Title: INCOME INEQUALITY AND SELECTED METHODS OF ITS MEASUREMENT WITH THE USE OF PRACTICAL DATA FOR INTERNATIONAL COMPARISON Abstract: This study defines the possible approaches which are used for the measurement and comparison of income inequality. It discusses the usability of these approaches and points to selected indicators of income inequality at the level of international comparison and also identifies the factors that cause income inequality. The aim of this study is to describe the relationship between customary indicators of inequality and an alternative indicator. Data was used from nine European countries and two data sources were combined: the OECD and ESS. The final data set contained 16 686 observations. By verifying the compliance of relative frequencies, the difference between countries was demonstrated to the degree of agreement with the reduction in income inequality. The results of the test on the compliance of relative frequencies allowed us to consider the question of the monotonic trend of population relative frequency. It turned out that the rate of agreement to reduce the income gap with increasing income inequality increased. Classification-JEL: D30, D60, F60 Keywords: Approaches, Income, Inequality, Index, Measuring, Indicators, Factors Journal: International Journal of Economic Sciences Pages: 68-81 Volume: 6 Issue: 2 Year: 2017 Month: November File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1670 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1670?download=4 Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:68-81 Template-Type: ReDIF-Article 1.0 Author-Name: Gindra Kasnauskiene Author-Name-First: Gindra Author-Name-Last: Kasnauskiene Author-Email: gindra.kasnauskiene@ef.vu.lt Author-Workplace-Name: Vilnius University Author-Name: Karol Michnevic Author-Name-First: Karol Author-Name-Last: Michnevic Author-Email: kmichnewicz@yahoo.co.uk Author-Workplace-Name: Vilnius university Title: Contribution of increased life expectancy to economic growth: evidence from CEE countries Abstract: Population aging in a backdrop of growing life expectancy can be seen in many advanced economies, but the rapid pace of these demographic changes in Central and Eastern Europe (CEE) makes it a pressing issue for the region. We investigate these two phenomena and compare results with prior research to determine their separate and combined effect on output growth in a panel regression model using Eurostat data for the period of 1996 to 2013. Our findings point to increasing life expectancy having a negative effect on the economy and the share of the population in the 30-59 age range affecting it positively. The conclusions of our research demonstrate the utility of augmenting macroeconomic models with a demographics-sensitive component and the urgency of addressing the accelerating demographic decline in the region. Classification-JEL: E10, J10, J11 Keywords: demographics, life expectancy, population aging, economic growth, CEE countries Journal: International Journal of Economic Sciences Pages: 82-99 Volume: 6 Issue: 2 Year: 2017 Month: November File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1349 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1349?download=5 Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:82-99 Template-Type: ReDIF-Article 1.0 Author-Name: Tomislava Pavic Kramaric Author-Name-First: Tomislava Author-Name-Last: Pavic Kramaric Author-Email: tpavic@oss.unist.hr Author-Workplace-Name: University of Split, University Department of Professional Studies Author-Name: Marko Miletic Author-Name-First: Marko Author-Name-Last: Miletic Author-Email: mamiletic@oss.unist.hr Author-Workplace-Name: University of Split, University Department of Professional Studies Author-Name: Ivan Pavic Author-Name-First: Ivan Author-Name-Last: Pavic Author-Email: pavic@efst.hr Author-Workplace-Name: University of Split - Faculty of Economics Title: Profitability Determinants of Insurance Markets in Selected Central and Eastern European Countries Abstract: This paper analyses the influence of insurance company-specific, insurance industry-specific and macroeconomic variables on performance of insurance markets in selected Central and Eastern European countries. Specifically, the research covers insurance industry in Croatia, Slovenia, Hungary and Poland in the period 2010 ? 2014. Two performance variables were employed in the model, i.e. return on assets (ROA) and return on equity (ROE) while explanatory variables comprise of size measured on the basis of gross written premium, type dummy variable indicating life, non-life or composite insurance company, share of premium ceded to reinsurance, combined ratio, ownership variable indicating foreign or domestic ownership, age, organizational form dummy variable referring to joint stock companies or mutual and real GDP per capita growth. Employing static panel model results of the analysis reveal that variable age positively and significantly affect performance when measured with both ROA and ROE. Moreover, another variable that significantly influences performance in terms of ROE is real GDP per capita growth taking a positive sign. Classification-JEL: C23, G22, L25 Keywords: insurance companies, firm performance, international financial markets, panel data models Journal: International Journal of Economic Sciences Pages: 100-123 Volume: 6 Issue: 2 Year: 2017 Month: November File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1500 File-URL: https://iises.net/international-journal-of-economic-sciences/publication-detail-1500?download=6 Handle: RePEc:sek:jijoes:v:6:y:2017:i:2:p:100-123