Course detail
Macroeconomics
FSI-HMKAcad. year: 2016/2017
The course focuses on the understanding of entire economy functioning. The relations among product, services and labour markets on one hand and assets of the given economy on the other hand are explained. Also dealt with is the influence on consumption, investments, inflation rate and unemployment, measurement of economic output and its long term growth, issues related to the economic cycle, fiscal and monetary policy as well as present economic problems. Also discussed are the modern economic theories and their methods of solution of key economic problems.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Learning outcomes of the course unit
Prerequisites
Co-requisites
Planned learning activities and teaching methods
Assesment methods and criteria linked to learning outcomes
The scale of the resulting classification
(max.30 from seminars, 70 points student from exam, total 100 points)
A: 90-100 points
B: 80-89 points
C: 70-79 points
D: 60-69 points
E: 50-59 points
F: less than 50 points
Course curriculum
2. Market, market mechanism. Types of market structures.
3. Aggregate supply, aggregate demand. Model AS-AD. Growth and decline in AD and AS, aggregate spending, the slope of the AS curve.
4. Measurement of economic output, GDP, GNP, national income.
5. The concept of macroeconomic equilibrium models - classical, Keynesian, Neokeynesian compromise.
6. Monetary aggregates, monetary theory, money multiplier, equilibrium changes in the money market.
7. Labour market, unemployment. Equilibrium in the labour market, unemployment, unemployment forms.
8. Inflation, types of inflation, inflation and unemployment.
9. The theory of the business cycle and economic growth.
10. Fiscal policy - state budget, public finance, built-in stabilizers, discrete measures, expansive and restrictive fiscal policy.
11. Monetary policy. Tools and objectives of monetary policy, expansive and restrictive monetary policy.
12. Macroeconomic goals, the effectiveness of economic policy, magic polygons, functions of the state in the economy.
13. Theory of international trade, external trade and monetary policy, free trade, protectionism, exchange rate development.
Work placements
Aims
Specification of controlled education, way of implementation and compensation for absences
Recommended optional programme components
Prerequisites and corequisites
Basic literature
KUČEROVÁ, V. Makroekonomie 1. Brno: CERM, 2013. 126 s. ISBN: 978-80-214-4798- 1.
Pontus Rendahl; Fiscal Policy in an Unemployment Crisis, The Review of Economic Studies, Volume 83, Issue 3, 1 July 2016, Pages 1189–1224, https://doi.org/10.1093/restud/rdv058 (EN)
SAMUELSON, P.A.; NORDHAUS, W.D. Ekonomie. 18.vyd. Praha: NS SVOBODA, 2010. 775 s. ISBN 80-205-0590-3. (CS)
Recommended reading
LIŠKA,V a kol. Makroekonomie , 2.vyd. Praha, Professional Publishing, 2004,928s., ISBN 80-86419-51-1
SOUKUP, J., POŠTA, V. a kol. Makroekonomie. 2. vyd. Praha: Management Press, 2010. 518 s. ISBN 978-80-7261-219-2.
Classification of course in study plans
Type of course unit
Lecture
Teacher / Lecturer
Syllabus
2. Market, market mechanism, disequilibrium market, inefficiency, the types of market structures.
3. Aggregate supply, aggregate demand, growth and decrease of AD and AS, aggregate expenditures, slope of the AS curve.
4. The measurement of the economic output, national product (GDP, GNP) and national income.
5. The macroeconomic equilibrium, classical, Keynesian and Neokeynesian models.
9. Economical growth, models of the economical growth, theory of the business cycle.
7. The money theory, money aggregates, money market.
8. Labour market, unemployment, money market equilibrium, the rate of unemployment, types of unemployment.
9. Inflation, types of inflation, relationship between inflation and unemployment.
10. Fiscal policy – state budget, public finance, expansionary and restrictive fiscal policy.
11. Monetary policy – monetary goals and tools, expansionary and restrictive monetary policy.
12. Macroeconomics goals, effectiveness of economic policy, magic n-square, the function of the state in market economy.
13. Theory of the international trade, external trade and monetary policy, free market, protectionism, development of exchange rates.
Exercise
Teacher / Lecturer
Syllabus
2. Market and market mechanism
3. Model AS-AD
4. Measurement of economic output
5. The two-sector keynesian model income-expenditure
6. The causes and phases of the economic cycle, the business cycle of the Czech Republic
7. The money market and the money multiplier
8. Labour market and changes in the market
9. Measurement of inflation
10. Types of fiscal policy and its applications
11. Types of monetary policy and the reasons for their application, the policy of the CNB
12. Balance of payments, exchange rates
13. Final test