Lecturer(s)
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Horáková Monika, Ing. Ph.D.
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Hoke Eva, Ing. Ph.D.
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Heinzová Romana, Ing. Ph.D.
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Course content
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Topics: - Introduction to the study of macroeconomics - neoclassical economics, Keynesian macroeconomics, macroeconomics and the economic crisis. - Measurement of macroeconomic indicators - product and its measurement, three approaches to measuring flows in the economy: production, expenditure and income approach, national income, personal and disposable income, magic quadrilateral - inflation and its measurement, unemployment and its measurement, balance of payments and trade. - Monetary aggregates and the money market - functions and development of money, monetary aggregates, the equation of exchange and its applications, the equilibrium of the money market, the banking system, the money supply multiplier. - Macroeconomic equilibrium - AD-AS model - models of economic equilibrium, classical model of economic equilibrium, Keynesian model of economic equilibrium, aggregate and consumer demands and consumption functions, average and marginal propensity to consume, marginal propensity to save, determinants of consumption, expenditure multiplier. - Economic cycle and economic growth - economic balance and economic growth, economic strength and level of the country, sources and barriers to economic growth, economic cycle: phases, types and causes of the cycle, consequences of economic cycles. - Inflation - price level measurement, price indices, consumer basket, types of inflation, effects of inflation, original Philips curve, short-term and long-term Philips curve, modified Philips curve, Philips curve and inflation expectations. - Unemployment - unemployment rate, types of unemployment, natural rate of unemployment, consequences of unemployment. - International financial markets - currencies and foreign exchange, exchange rate, appreciation and depreciation, revaluation and devaluation, monetary system, purchasing power parity - Monetary policy - goals and instruments of monetary policy, expansionary and restrictive monetary policy and its effects, dilemma of the central bank. - Fiscal policy - instruments and objectives of fiscal policy, state budget, multiplier effect of state purchases and products and services, short-term and long-term effects of expansionary and restrictive policies, government debt, budget deficit and economic consequences of state debt. - International trade and external trade and monetary policy - reasons for international trade, consequences of international trade on economic processes, external trade and monetary policy, objectives and instruments of external monetary and trade policy, state protectionism in international trade, effect of tariffs, propensity to imports. - International context of the development of the Czech economy - economic benefits and costs of the Czech Republic's membership in the European Union and its bodies, economic trends in the development of economies - digital, shared and circular economy. - International financial institutions and their new role in the world economy - the International Monetary Fund, the World Bank Group, the European Central Bank and the Eurozone, the Organization for Economic Cooperation and Development. Economic security - international indebtedness, economic realities of selected countries, economic impacts of international conflicts.
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Learning activities and teaching methods
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Lecturing
- Participation in classes
- 42 hours per semester
- Preparation for course credit
- 36 hours per semester
- Home preparation for classes
- 36 hours per semester
- Preparation for examination
- 36 hours per semester
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prerequisite |
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Knowledge |
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Subject Macroeconomics builds on students' knowledge of Microeconomics. |
Subject Macroeconomics builds on students' knowledge of Microeconomics. |
learning outcomes |
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Students will learn basic macroeconomic concepts and relationships between them and understand the market behavior of economic agents in the context of macro-economic context. |
Students will learn basic macroeconomic concepts and relationships between them and understand the market behavior of economic agents in the context of macro-economic context. |
explain the nature of basic macroeconomic variables |
explain the nature of basic macroeconomic variables |
list the objectives and instruments of macroeconomic stabilisation policy |
list the objectives and instruments of macroeconomic stabilisation policy |
describe the effects of macroeconomic stabilisation policies on the national economy |
describe the effects of macroeconomic stabilisation policies on the national economy |
characterize the importance and impact of international trade on the economy |
characterize the importance and impact of international trade on the economy |
analyze the evolution of macroeconomic variables with implications for the national economy |
analyze the evolution of macroeconomic variables with implications for the national economy |
Skills |
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transfer theoretical knowledge into graphical and mathematical form |
transfer theoretical knowledge into graphical and mathematical form |
calculate basic macroeconomic variables |
calculate basic macroeconomic variables |
evaluate the impact of macroeconomic stabilisation policies on the national economy |
evaluate the impact of macroeconomic stabilisation policies on the national economy |
propose solutions to improve the macroeconomic reality in relation to the theoretical knowledge acquired |
propose solutions to improve the macroeconomic reality in relation to the theoretical knowledge acquired |
evaluate the evolution of the economy over time and compare it with the international environment |
evaluate the evolution of the economy over time and compare it with the international environment |
teaching methods |
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Knowledge |
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Lecturing |
Lecturing |
assessment methods |
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Grade (Using a grade system) |
Grade (Using a grade system) |
Oral examination |
Written examination |
Written examination |
Oral examination |
Recommended literature
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BEGG, D., FISCHER, S., DORNBUSCH, R. Economics. London: McGraw-Hill, 2005. ISBN 0-07-710775-6.
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DORNBUSCH, R., FISCHER, S., STARTZ, R. Macroeconomics. Boston: McGraw-Hill, 2004. ISBN 007-282340-2.
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Helísek, Mojmír. Makroekonomie pro bakalářské studium. 1. vyd. Slaný : Melandrium, 1997. ISBN 8090180159.
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Holman, R. Ekonomie. Praha : C. H. Beck, 2010.
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Holman, Robert. Makroekonomie : středně pokročilý kurz. 2. vyd. Praha : C.H. Beck, 2010. ISBN 978-80-7179-861-3.
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JUREČKA, V. a kolektiv. Makroekonomie. Praha: Grada Publishing, 2010. ISBN 978-80-247-3258-9.
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Kloudová, J. Makroekonomie - základní kurz. Eurokodex Bratislava, 2010.
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Kraft, Jiří. Světová ekonomika a ekonomická integrace. 1. vyd. Liberec : Technická univerzita v Liberci, 1998. ISBN 8070833238.
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MANKIW, N.G. Macroeconomics. New York : Worth Publisher, 1995. ISBN 0-7167-5237-9.
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Mankiw, N.G. Zásady ekonomie. Praha : Grada, 2000. ISBN 80-7169-891-1.
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Odborná ekonomická periodika. Hospodářské noviny, Ekonom, Euro, Politická ekonomie, Moderní řízení, The Econom.
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Rusmichová, L., Soukup, J., a kol. Makroekonomie : základní kurz. Slaný : Melandrium, 2002.
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Samuelson, P. A., Nordhaus, W.D. Ekonomie. Praha : Svoboda, 1995. ISBN 80-205-0192-4.
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Sojka, M., Konečný, B. Malá encyklopedie moderní ekonomie. Praha : Libri, 1999. ISBN 80-85983-78-8.
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VOLEJNÍKOVÁ, J. a kol. Makroekonomie I cvičebnice. Pardubice, 2021. ISBN 978-80-7560-344-9.
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WARD, D., BEGG, D. Student workbook for economics. London: McGraw - Hill Education, 2003. ISBN 0077103661.
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Wyplosz, Charles. Macroeconomics : a European text. 4th ed. Oxford : Oxford University Press, 2005. ISBN 199264961.
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