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Lecturer(s)
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Provazníková Romana, doc. Ing. Ph.D.
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Course content
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Determination of equilibrium production in two- sectors model. Determination of equilibrium production in three- sectors model. Market of goods and curve LM. Market of goods and curve IS. Market of money (assets) and curve LM. Model IS-LM and the efficiency of fiscal policy. The efficiency of monetary policy in model IS-LM. Net exports and the equilibrium on the market of goods and services in open economy. Payment bilance, curve BP, model IS-LM-BP and production equilibrium. Basic problems of exchange rate definition in the short run and long run. Devaluation (depreciation), current acount and level of income. Aggregate demand characteristic. Aggregate supply characteristic. Unemployment, inflation and Phillip´s curve. Open topic.
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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)
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Learning outcomes
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Macroeconomics II is the intermediate course of macroeconomic theory. It creates together with microeconomics II relatively independent part of theoretical economy which is necessary to understand theory and practice of economic policy. Stress is focused not only on understanding aggregate magnitudes and their quantification but as well on understanding the operating economy as a complex. Aim of the course: the emphasis in the course is stressed on analysis of problems with determination of equilibrium in production, content of aggregate demand and aggregate supply, characteristic of the labour market, unemployment and inflation, consumer and capital expenditure, criterion of choice of monetary and fiscal policy, problems conected with balance of payments, government debt and budget deficit and determination exchange rate problems.
Students can use the knowledges in macroeconomics areal, also in areas related with microeconomics, public economics etc. They will be able to formulate the opinions to economical problems solutions; to choose fit processes and methods for their solutions; to present the solutions and defend them.
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Prerequisites
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unspecified
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Assessment methods and criteria
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Oral examination, Written examination, Student performance assessment
Assignment: Three check tests during the seminars- minimum 60% from total amount of points. Alternative assignment: elaboration of project work according to individual task. Examination: Condition to make an exam is to have assignment. The exam is written, eventually completed by oral form- answering two questions selected by lot.
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Recommended literature
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Dornbush, R., Fisher, S. Macroeconomics. New York:McGraw Hill, 1990.
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Gartner, M. Macroeconomics, 2nd edition. 2006. ISBN 0-273-70460-5.
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SAMUELSON, P. A., NORDHAUS, W. D.:. Economics. New York: McGraw-Hill, 1985.
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