Course detail

Macroeconomics 2

FP-makKAcad. year: 2022/2023

Subject Macroeconomics 2 is the advanced form of the subject Macroeconomics, which is taught in bachelor study program. The goal is the enlargement of economic knowledge, mainly focused on macroeconomic theories. The main topics of the subject are aggregate indicators, the macroeconomic equilibrium including the models of economic equilibrium, the theory of the factor market, money market, business policy and actual economic questions.

Language of instruction

Czech

Number of ECTS credits

Mode of study

Not applicable.

Guarantor

prof. Ing. Marek Zinecker, Ph.D.

Department

Institute of Economics (ÚE)

Learning outcomes of the course unit

After finishing the course students should be able to understand theoretical basis and principles of economics, in context of contemporary problems.

Prerequisites

The knowledge of Macroeconomics, Microeconomics and Econometrics is expected.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course is a combination of the lectures and self-study. Lectures consist of an explanation of basic principles, methodology of the discipline, problems and their solutions.

Assesment methods and criteria linked to learning outcomes

Form of examination – written examination. The student can obtaim a maximum of 100 points.


The scale of the resulting classification:
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

Content:
The economy of the main stream
The money market, quantitative theory - neutrality of money
The theory of value, price, utility and costs, the marginal theory
The theory of capital, interest rates, savings, investment and investment multiplier
The international division of labour, theory of international trade, balance of payment, exchange rates theory and external equilibrium
The economic equilibrium, models AS–AD, IS–LM, Modigliani’s model, Mundell-Fleming’s model
The labour market, natural rate of unemployment, Phillips curve theories
The theory of business cycle, real and monetary cycles
The economics growth and the models of economics growth (Solow’s model of the economic growth, Cob-Douglas’s production function, theory of the endogenous growth)
Business policy, the business policy failures, reasons and solutions of the economics recessions
The theory of human capital, economics in relation to political and sociological questions

Syllabus of tutorials:
Introduction to the course, repeating the elementary macroeconomic knowledge
Quantity theory of money
Value theory, international trade
Market for loanable funds, money market, external equilibrum state
Exchange Rates
Model IS-LM

Work placements

Not applicable.

Aims

The main objective of the course is enlargement of macroeconomic knowledge and intensifying of students' abilities in understanding and solving of actual economics problems.

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

Control of students' attendance and results is fully in competence of the teacher.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

HOLMAN, R. Makroekonomie – středně pokročilý kurz. 1. vyd. Praha: C.H. Beck, 2004. 424 s. ISBN 80-7179-764-2.
HOLMAN, R. a kol. Dějiny ekonomického myšlení. 4. vyd. Praha: C. H. Beck, 2017. 576 s. ISBN 978-80-7400-641-8.

Recommended reading

MANKIW, G. Macroeconomics. 10th edition. New York: Worth Publishers, 2019. 656 p. ISBN 978-1-3191-0599- 0.
MANKIW, G. Principles of Economics. Cengage Learning, 9th edition, 2020, 864 p. ISBN 978-0-3570-3831-4.

Classification of course in study plans

  • Programme MGR-IM-KS Master's 1 year of study, winter semester, compulsory

  • Programme MGR-KS Master's

    branch MGR-UFRP-KS-D , 1 year of study, winter semester, compulsory
    branch MGR-ŘEP-KS , 1 year of study, winter semester, compulsory
    branch MGR-PFO-KS , 1 year of study, winter semester, compulsory

  • Programme MGR-SRP-KS Master's 1 year of study, winter semester, compulsory
  • Programme MGR-UFRP-KS Master's 1 year of study, winter semester, compulsory

Type of course unit

 

Guided consultation in combined form of studies

20 hod., optionally

Teacher / Lecturer

doc. Ing. Petr Rozmahel, Ph.D.

Syllabus

Úvod do Makroekonomie II, Ekonomie hlavního proudu, využití modelů v ekonomii, ekonomie krátkého a dlouhého období

Makroekonomické agregáty, Model AS-AD, národohospodářské identity

Chování ekonomiky v dlouhém období: rovnováha na trhu zboží a služeb: spotřeba a úspory

Chování ekonomiky v dlouhém období: rovnováha na trhu zboží a služeb: Investice (trh zápůjčních fondů)

Chování ekonomiky v dlouhém období: Trh peněz

Chování ekonomiky v dlouhém období: Otevřená ekonomika

Trh práce, nezaměstnanost, přirozená míra nezaměstnanosti

Dlouhodobý ekonomický růst. Solowův model, modely endogenního růstu, soudobá pojetí

Chování ekonomiky v krátkém období: keynesiánský model determinace produktu, model IS-LM

Chování ekonomiky v krátkém období: Model IS-LM, makroekonomická politika v modelu IS-LM. Odvození křivky AD

Chování ekonomiky v krátkém období: IS-LM model v otevřené ekonomice: Mundell-Flemingův model.

Chování ekonomiky v krátkém období: Agregátní nabídka – alternativní modely vysvětlení křivky AS

Phillipsova křivka, Hospodářská politika a Hospodářský cyklus