Course detail

Macroeconomics

FEKT-BPC-EK2Acad. year: 2020/2021

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

Czech

Number of ECTS credits

5

Mode of study

Not applicable.

Learning outcomes of the course unit

After finishing the course students should be able: To understand theoretical basis and principles of macroeconomics. To understand the functioning of the national economy mechanism and its equilibrium, interconnection of the national economy and the world economy and their influences on particular businesses and achieving key managerial objectives. To understand how the managerial tasks are being accomplished in the national economy. To work out analytic and synthetic managerial information related to the national economy and apply it when making key managerial decisions. To use critical and analytical way of thinking in the managerial processes underlying the operation and strategic development of business activity within national and world economy.

Prerequisites

Not applicable.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course contains of two-hour lectures that explain basic principles, problems and methodology of the discipline, and one-hour practical seminar. The practical exercises promote the practical knowledge of the subject presented in the lectures and also are concerned on handling numerical tasks.

Assesment methods and criteria linked to learning outcomes

Student gets credit if he receives at least 15 points out of 30 possible points awarded for practical seminars and fulfills a 75% participation in seminars. Points will be awarded for knowledge at seminars and final test, from which a student must obtain at least 10 points. The requirement to final examination is the knowledge of the course and obtained credit. The final exam is written (written test). It takes into account a comprehensive knowledge of macroeconomics, in all material respects. The maximum number of possible points is 70. Each student must obtain at least 35 points. In the overall assessment, the points of the seminars and examination are added.

Course curriculum

The subject content:
1. Introduction into macroeconomics – development of the macroeconomic theory.
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.
6. The monetary theory, monetary aggregates, money market.
7. Labour market, unemployment, money market equilibrium, the rate of unemployment, types of unemployment.
8. Inflation, types of inflation, relationship between inflation and unemployment.
9. Economical growth, models of the economical growth, theory of the business cycle.
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, effectivity 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.

Work placements

Not applicable.

Aims

The main objective of the course is to provide students with the knowledge of macroeconomics on the level required at higher education institutions of economic specialisation. Understanding of macroeconomic relations and connections, terms and necessary theoretical fundaments as well as understanding of possibilities and economic policy.

Specification of controlled education, way of implementation and compensation for absences

Control of students’ attendance and results is fully in competence of the teacher. The course-unit credit is conditional on elaboration, demonstration of knowledge and successful completion of a credit test.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

GROLIGOVÁ, I. a MANDELÍK, P. Makroekonomie. 3. vyd. Brno: VUT v Brně, 2007. 130 s. ISBN 978-80-214-3471-4. (CS)
SAMUELSON, P.A. a NORDHAUS, W.D. Ekonomie. 2. vyd. Praha: Svoboda, 1995. 1011 s. ISBN 80-205-0494-X. (CS)
HOLMAN, R. a kol. Ekonomie. 1. vydání. Praha: C. H. Beck, 1999. 726 s. ISBN 80-7179-255-1. (CS)
GROLIGOVÁ, I. a MANDELÍK, P. Makroekonomie. 3. vyd. Brno: VUT v Brně, 2007. 130 s. ISBN 978-80-214-3471-4. GROLIGOVÁ, I. a MANDELÍK, P. Makroekonomie. 3. vyd. Brno: VUT v Brně, 2007. 130 s. ISBN 978-80-214-3471-4. (CS)

Recommended reading

HOLMAN, R. a kol. Dějiny ekonomického myšlení. 2. vyd. Praha: C.H.Beck, 2001. 541 s. ISBN 80-7179-631-X. (CS)
HOLMAN, R. Makroekonomie – středně pokročilý kurz. 1. vyd. Praha: C.H. Beck, 2004. 424 s. ISBN 80-7179-764-2. (CS)
SCHILLER, B. R. Makroekonomie dnes. 1. vyd. Brno: Computer Press, 2004. 412 s. ISBN 80-251-0169-X. (CS)
SOUKUP, J., POŠTA, V. a kol. Makroekonomie. 2. vyd. Praha: Management Press, 2010. 518 s. ISBN 978-80-7261-219-2. (CS)
JUREČKA, V. a kol. Makroekonomie. 1. vyd. Praha: Grada, 2010. 332 s. ISBN 978-80-247-3258-9. (CS)

Elearning

Classification of course in study plans

  • Programme BPC-IBE Bachelor's 2 year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

Syllabus

1. Úvod do makroekonomie. Stručný nástin vývoje ekonomických teorií.
2. Trh, tržní mechanismus. Nerovnovážný trh, neefektivnost, typy tržních struktur.
3. Agregátní nabídka, agregátní poptávka. Růst a pokles AD a AS, agregátní výdaje, sklon křivky AS.
4. Měření výkonnosti ekonomiky, národní produkt, národní důchod.
5. Pojetí makroekonomické rovnováhy, modely - klasický, keynesiánský, neokeynesiánský kompromis.
6. Peněžní agregáty, teorie peněz, peněžní multiplikátor, změny rovnováhy na peněžním trhu.
7. Trh práce, nezaměstnanost. Rovnováha na trhu práce, míra nezaměstnanosti, formy nezaměstnanosti.
8. Inflace, druhy inflace, inflace a nezaměstnanost.
9. Ekonomický růst, modely růstu, teorie hospodářského cyklu.
10. Fiskální politika - státní rozpočet, veřejné finance, vestavěné stabilizátory, diskrétní opatření, expanzivní a restriktivní fiskální
politika.
11. Monetární politika. Nástroje a cíle monetární politiky, expanzivní a restriktivní monetární politika.
12. Makroekonomické cíle, účinnost hospodářské politiky, magické n-úhelníky, funkce státu v tržní ekonomice.
13. Teorie mezinárodního obchodu, vnější měnová a obchodní politika, volný obchod, protekcionismus, vývoj měnových kurzů.

Fundamentals seminar

13 hod., compulsory

Teacher / Lecturer

Syllabus

1. Úvod do předmětu
2. Trh a tržní mechanismus
3. Model AS–AD
4. Měření výkonu ekonomiky
5. Dvou-sektorový model důchod-výdaje
6. Trh peněz a peněžní multiplikátor
7. Trh práce a změny na tomto trhu
8. Měření inflace
9. Příčiny a fáze hospodářského cyklu, hospodářský cyklus ČR
10. Typy fiskální politiky a způsoby její aplikace
11. Typy monetární politiky a důvody jejich uplatnění, politika ČNB
12. Platební bilance, měnové kursy
13. Zápočtová písemná práce

Elearning