Course detail

Macroeconomics 2

FP-makPAcad. year: 2024/2025

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

6

Mode of study

Not applicable.

Guarantor

prof. Ing. Marek Zinecker, Ph.D.

Department

Institute of Economics (ÚE)

Entry knowledge

The course builds on knowledge from Macroeconomics, Microeconomics, and Econometrics. The student is proficient in understanding market principles, economic policies, and is well-versed in economic terminology and mathematical functions.

Rules for evaluation and completion of the course

Conditions for Awarding the Course Credit:

The student must earn at least 25 points out of a maximum of 50 points awarded during the semester:

- Written assignment – max. 25 points (min. 12.5 points) – 7th week

- Written assignment – max. 25 points (min. 12.5 points) – 12th week

If a student is unable to attend a scheduled assignment due to exceptional and justified reasons (especially medical), they must provide an excuse no later than 5 working days after the scheduled date.

Conditions for Passing the Exam:

The exam is a mandatory component of the course completion. It will be in written form, covering material from both lectures and exercises, as well as recommended self-study according to the course syllabus. The exam will include multiple-choice, open-ended, and closed-ended questions.

A student can earn up to 50 points on the exam and must achieve at least 50%, i.e., 25 points, to pass the exam successfully.

The final grade will be based on the sum of the points from the coursework and the exam. Thus, a student can earn up to 100 points in total, and the grade will be awarded based on the ECTS grading scale.

- Grade A: 100 – 90 points

- Grade B: 89 – 80 points

- Grade C: 79 – 70 points

- Grade D: 69 – 60 points

- Grade E: 59 – 50 points

- Grade F: less than 50 points

Course Completion for Students with an Individual Study Plan:

If a student has been granted an individual study plan, they must successfully complete the coursework by submitting written assignments provided by the instructor. The total number of assignments is 10, and they correspond to the course syllabus. The assignments must be submitted before the exam, as participation in the exam is not allowed without the course credit.

The exam is written, and the same rules apply as for the standard course completion.

Attendance at lectures and exercises is not monitored.

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

Study aids

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

HOLMAN, R. Makroekonomie: středně pokročilý kurz. 3. vydání. Praha: C.H. Beck, 2018, 480 s. ISBN 978-80- 7400-541-1. (CS)
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 Master's 1 year of study, winter semester, compulsory
  • Programme MGR-MEO Master's 1 year of study, winter semester, compulsory
  • Programme MGR-SRP Master's 1 year of study, winter semester, compulsory
  • Programme MGR-UFRP Master's 1 year of study, winter semester, compulsory

Type of course unit

 

Lecture

26 hod., optionally

Teacher / Lecturer

doc. Ing. Petr Rozmahel, Ph.D.

Syllabus

1. Mainstream of the economics theory.
2. The theory of money and the money market, the quantity theory of money, the theory of neutrality of money.
3. Unconventional instruments of monetary policy, quantitative easing
4. The theory of interest, savings, consumption, investment and investment multiplier.
5. Market for loanable funds in a closed and an open economy.
6. The theory of international trade, balance of payment, external balance of state and exchange rate mechanism.
7. Net export function, Marshall-Lerner condition
8. Models of economic equilibrium, general markets equilibrium, model IS-LM for a small closed economy.
9. Changes in the IS-LM model, complete Keynesian model
10. Mundell-Fleming model, IS-LM (IS-LM-BP) in a small open economy.
11. The theory of business cycles, real and monetary cycles, economic growth and the models of economic growth (Solow's Growth Model, Cobb-Douglas Production Function, Endogenous Growth Theory).
12. The balance of the labour market, the natural rate of unemployment, Phillips curve theories, human capital theory.
13. Economic policy and economic policy failures, economy in speaking to political issues and sociological issues.

Exercise

26 hod., optionally

Teacher / Lecturer

Ing. Jaroslav Krejčíř, Ph.D.
Ing. et Ing. Kateřina Procházková, Ph.D.

Syllabus

1. Introduction to the course, revision of basic macroeconomic knowledge.
2. The quantity theory of money, money market.
3. Transmission mechanism.
4. Theories of savings, consumption and investments, Keynesian cross.
5. Market for loanable funds in a closed and open economy.
6. Balance of payments, external balance of state and exchange rates.
7. Real exchange rate, net export function, Marshall-Lerner condition.
8. Model IS-LM in the three-sector economy.
9. Imbalance in the IS-LM model in a three-sector economy, non-price factors affecting the IS-LM model, the principle of derivation of the AD curve from IS-LM model.
10. IS-LM model for a small open economy, model IS-LM-BP.
11. Models of economic growth.
12. Labour market.
13. Credit written work.