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Lecturer(s)
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Máslo Lukáš Augustin, Ing. Ph.D.
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Tučková Simona, Ing. Ph.D.
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Provazníková Romana, doc. Ing. Ph.D.
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Course content
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Determination of balanced production in the two-sector model. Determination of balanced production in the three-sector model. Goods market and IS curve, money market (assets) and LM curve, model IS-LM. The efficiency of fiscal and monetary policy in the IS-LM model. Net exports and balance in the market of goods and services in the open economy. Balance of payments, BP curve, IS-LM-BP model and balanced production. Basic problems of the exchange rate determination in a long and short period. Devaluation (depreciation), current account and level of income. Characteristic of aggregate demand and supply. Unemployment, inflation and Phillips curve. Business cycles and economic growth.
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Work with text (with textbook, with book)
- Home preparation for classes
- 18 hours per semester
- Contact teaching
- 52 hours per semester
- Preparation for a credit (assessment)
- 20 hours per semester
- Preparation for a partial test
- 20 hours per semester
- Preparation for an exam
- 40 hours per semester
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Learning outcomes
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The aim of the course is to acquaint the students with the picture of macroeconomics at the contemporary level and depth and provide the students with basic knowledge and methods of macroeconomics. The accent is put on the ability to use acquired knowledge not only at the theoretical level but also at various levels of the national economy.
After succesfull course attendance student has is able: to explain fundamental macroeconomics models which macroeconomic mainstream theories use; to explain how fiscal and monetary policy work in these models and characterises their efficiency; to describe how to open economy works and explain exchange rate theories; to explain relationship between unemployment and inflation and apply this knowledge for economic policy; has knowledge of basic theories of long-term growth. After succesfull course attendance student has is able: to analyse and evaluate contemporary economic development in particular country with evaluation of the main world economic changes on this economy. Student is able to defense his statement.
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Prerequisites
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The student knows the basic concepts of macroeconomics, is familiar with the calculation of output and income indicators; knows the multiplier principle; knows how to use the AD-AS model; knows macroeconomic policies and their instruments, is familiar with labour market and unemployment issues; understands the basic principles of exchange rate design and open economy.
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Assessment methods and criteria
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Oral examination, Written examination, Student performance assessment, Didactic test
The assignment is granted upon passing three written tests within seminars (2 tests, every 20 points, 1 test 60 points). For obtaining an assignment it is necessary to achieve 60 points. The examination is written, eventually oral.
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Recommended literature
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FROYEN, R. T.:. Macroeconomics Theories and Politics. New York: Prentice Hall, 2004.
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Holman, R. Makroekonomie, středně pokročilý kurz. Sbírka řešených otázek a příkladů. 2. vydání. Praha: C. H. Beck, 2018. ISBN 978-80-7400-723-1.
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Holman, R. Makroekonomie, středně pokročilý kurz. 1. vydání, C. H. Beck, 2018. Praha, 2018.
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MACH, M.:. Makroekonomie pro inženýrské studium. Slaný: Melandrium, 2003.
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PROVAZNÍKOVÁ, R., VOLEJNÍKOVÁ, J.:. Makroekonomie - Cvičebnice. Slaný: Melandrium, 2003.
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ROJÍČEK, M., SPĚVÁČEK, V., VEJMĚLEK, J., ZAMRAZILOVÁ, E. , ŽĎÁREK V. Makroekonomická analýza: teorie a praxe. Praha, 2016. ISBN 978-80-247-5858-9.
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SOUKUP J. a kol. Makroekonomie: Moderní přístup, 4. vydání, 2022. Praha: Management Press, 2022. ISBN 978-80-7261-596-4.
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