Course detail

Macroeconomics 1

FP-mak1PAcad. year: 2026/2027

By completing the course, students will acquire the basic theoretical knowledge necessary to understand the mechanisms of the economy's functioning at the aggregate level. Emphasis is placed on understanding the key factors that affect the macroeconomic environment in both the short and long run, as well as their interrelationships.

Language of instruction

Czech

Number of ECTS credits

6

Assignment to study programme types

Bachelor's

Mode of study

Not applicable.

Guarantor

prof. Ing. Marek Zinecker, Ph.D.

Department

Department of Economics (ÚE)

Entry knowledge

General knowledge of economic thinking at the level of secondary school curriculum is assumed, as well as knowledge of mathematics as a tool for understanding and analysing economic phenomena.

Rules for evaluation and completion of the course

Student gets credit if he receives at least 16 points out of 30 possible points awarded for practical seminars. Points will be awarded for knowledge at seminars and final tests. 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. Students may request an oral verification.

Attendance at seminars is compulsory. Compulsory attendance is monitored by the teacher recording attendance at the beginning of each class.


The scale of the resulting classification:
(student may gain from exercise 30 points and max.70 points of the test, a total of 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

Attendance at seminars is compulsory. Compulsory attendance is monitored by the teacher recording attendance at the beginning of each class.

Attendance at lectures is optional.

Aims

The course aims to make the student understand the basic concepts, principles, and theories of macroeconomics. The acquired competencies also include an understanding of the most important factors affecting the macroeconomic environment in the short and long run and their interrelationships. The acquired knowledge will support the student in economic decision-making from the perspective of households, firms, and the government.

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

BAYEROVÁ, Vladimíra. Makroekonomie 1: studijní text pro denní a kombinovanou formu studia bakalářských studijních programů. Vydání 2., rozšířené a aktualizované. Brno: Akademické nakladatelství CERM, 2021. ISBN 978-80-214-5989-2. (CS)
HOLMAN, Robert. Ekonomie. 6. vydání. V Praze: C.H. Beck, 2016. ISBN 978-80-7400-278-6. (CS)
JUREČKA, Václav. Makroekonomie: 3., aktualizované a rozšířené vydání. Grada, 2017. ISBN 9788027102518. (CS)
MANKIW, N. Gregory. Principles of macroeconomics. 8th edition. Stamford: Cengage Learning, 2017. ISBN 978-1305971509. (EN)

Recommended reading

HOLMAN, Robert. Dějiny ekonomického myšlení. 4. vydání. V Praze: C.H. Beck, 2017. ISBN 978-80-7400-641-8. (CS)
KRUGMAN, Paul and Robin WELLS. Macroeconomics. 7th ed. Duffield: Worth Publishers, 2024. 656 p. ISBN 978-1319415907 (EN)
FRANK, Robert H., Ben BERNANKE, Kate ANTONOVICS and Ori HEFFETZ. Principles of Macroeconomics. Columbus: McGraw Hill, 2021. 544 p. ISBN 978-1264250318  (EN)

Classification of course in study plans

  • Programme BAK-EAM Bachelor's

    specialization BAK-EAM-UAD , 1 year of study, winter semester, compulsory, fundamental theoretical courses of the profile core
    specialization BAK-EAM-EP , 1 year of study, winter semester, compulsory, fundamental theoretical courses of the profile core

  • Programme BIT Bachelor's 2 year of study, winter semester, elective
  • Programme BIT Bachelor's 2 year of study, winter semester, elective
  • Programme BPC-IBE Bachelor's 3 year of study, winter semester, compulsory-optional

Type of course unit

 

Lecture

26 hours, optionally

Teacher / Lecturer

prof. Ing. Marek Zinecker, Ph.D.

Syllabus

1. Introduction to the course. Market and market mechanism.
2. Model AS-AD.
3. Measurement of economic performance, GDP.
4. Concepts of macroeconomic equilibrium.

5. Economic growth and the business cycle.
6. Money and the money market.

7. Inflation.
8. Labour market and changes in the market. 
9. Economic policy and its objectives. Fiscal policy. Instruments and effects of fiscal policy.
10. Monetary policy. Instruments and effects of monetary policy.
11. International trade theory. Balance of payments.

12. Foreign exchange rate mechanism.
13. Evaluating the effects of economic policy.

Exercise

26 hours, compulsory

Teacher / Lecturer

Ing. Vladimíra Bayerová, Ph.D.
Ing. Štěpán Franc
Ing. Petra Holendová

Syllabus

1. Introduction to the course. Market and market mechanism.
2. Model AS-AD.
3. Measurement of economic output, GDP.
4. Keynesian vs. Classical economic model.

5. Causes and phases of the economic cycle.
6. The money market and the money multiplier. Credit test (1).

7. Inflation and its measurement.
8. Labour market and changes in the market.
9. Types of fiscal policy and its applications
10. Types of monetary policy and its application.
11. Balance of payments. Credit test (2).

12. Foreign exchange rate mechanism.
13. Remedial credit tests

Expertise:
The student gains an understanding of key macroeconomic indicators such as GDP, inflation, unemployment, and interest rates. They will understand the functioning of economic cycles, the tools of fiscal and monetary policy, and their impact on the economy. The course provides skills to analyze the relationships between aggregate demand and supply and to understand the role of the central bank and the state budget in managing the economy.

Professional Competencies:

The student understands the fundamental principles of how a national economy functions. They are capable of interpreting macroeconomic indicators (GDP, inflation, unemployment, interest rates) and analyzing their interrelationships. They can assess the impact of economic policies (fiscal and monetary) on macroeconomic equilibrium. They are familiar with issues related to economic growth, the business cycle, and the role of the public sector in the economy.

Professional Skills:

The student is able to work with macroeconomic data, interpret it, and draw conclusions about the state of the economy. They can apply basic macroeconomic models (e.g., the aggregate demand and supply model) to real-world economic situations. They are capable of analyzing the effects of economic policy changes and proposing basic recommendations. The student can formulate and defend arguments related to the functioning of the national economy within a broader economic context.

Self-study

64 hours, optionally

Teacher / Lecturer

prof. Ing. Marek Zinecker, Ph.D.

Individual preparation for an ending of the course

40 hours, optionally

Teacher / Lecturer

prof. Ing. Marek Zinecker, Ph.D.