Prague offers business students a rare insight into a
post-communist economy

Sometimes it is easy to forget the implications that a major political change has on the economy. But nothing brings this home more readily than a visit to the Prague Stock Exchange and the recognition that it was shut for fifty years during the Communist regime and was not re-opened until 1993.

Indeed the suspension and rebirth of the Prague Stock Exchange is the cornerstone of the story of the transition of the country from a centrally planned economy to a free market model.

The issue of the transition and rebirth of the market economy is one that can also be explored at the Cerge Institute – one of the world’s top research institutes and a joint venture of Charles University in Prague and the Economics Institute of the Czech Academy of Sciences.

Its lectures on the current macroeconomic situation of the Czech Republic with a Q&A afterwards are very highly regarded by schools that have visited.

Meanwhile a visit to Skoda’s factory reveals, through an introductory film, the huge production facilities where cutting edge technology is used to achieve and enhance quality throughout the production lines.

For something totally different yet again there is… Tesco, not a name that is normally associated with the Czech Republic. But there is a really interesting tale here as in 2006 Tesco closed down five small distribution centres and replaced them with a new 67,000 square metre purpose-built facility in the north of Prague.

Two different forms of picking are deployed in the centre: selected slow moving items and high value products are picked by line, whereas fast movers are picked by store where staff use radio connected wearable computers to increase picking accuracy to 98.9%

Different again is a visit to the Pilsner Urquell brewery to explore the science behind the brewing process and logistics, while yet another alternative is the Czech Radio tour. This takes in the radio station and allows students to gain a detailed understanding of the way in which a major radio station works.

Moving on once again there is Bohemia Crystal. Here students can see the craftsmanship of the glasscutters and glassblowers in a low-tech, labour intensive production line. Students can also try glassblowing themselves and will appreciate how traditional industries can still play a vital part in the economic well-being of the country.

Of course, students will also welcome a break from tours directly related to their studies and Prague offers a multitude of distractions, including Prague Castle and St Vitus Cathedral, Historic Tram Sightseeing Tour, Museum of Modern & Contemporary Art, Veletrzní Palace and Barrandov Film Studios.

StudyTrips will work with you to create the itinerary you want, and you can see a typical school media studies visit to Prague by clicking here.

Alternatively for more information call us on 0845 026 4661 or email us at info@studytrips.co.uk