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Lecturer(s)
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Švarcová Jena, doc. Ing. Ph.D.
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Kloudová Jitka, doc. Ing. Ph.D.
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Course content
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Lectures on Macroeconomics - Approach to Advanced Macroeconomics Theory -The Nature and Method of Economics, Basic ideological approaches to the economic theory, Economic aims and Economic Instruments of Measurement economic indicators. - Measurement the Cost of Living : Some Rules for Computing GDP, indicators GDP deflator and CPI Real GDP versus Nominal GDP Market system and the Circular Flow - Macroeconomic Model of Aggregate Demand and Supply. Actual versus Planned Expenditures Keynesian Cross Government/Purchases Multiplier Tax Multiplier Aggregate Supply according to Friedman and Lucas. -Monetarism. Theory of the Interest rate, Investment, and the IS Curve Money market and the LM Curve Simple Algebra of the IS and LM Curve Optimal Consumption , Investment and Inventory Behaviour. - Theory of Inflation, Deflation and addaptive and rational expectation. The Assumption of Constant Velocity Reasons of Inflation and its consequences - the Fisher Effects. -Unemployment and the Labor Market Instruments of Labor Demand and Labor Supply Wages, Minimum-wage Laws Patterns of unemployment - A Complete Model of the Macroeconomic Equilibrium, the Solving of economic Unbalance, Economic Stabilization and Structural Changes. Approaches to the Economic Policy - Fiscal Policy and economic theory Fiscal Policy and IS-LM Model The Resources of Government Expenditures, [Taxes, Credits] Anti-cyclical fiscal policy - State Budget surplus and State Budget Deficit State Budget Deficit and Public Debt State Budget Deficit and Inflation Different arts of Consolidation of State Budget Deficit - Monetary Policy Basic Differences between Keynesians and Monetarists Time Lags in the Fiscal and Monetary Policy Instruments of Monetary Policy [ Reserves, OMO and Discount rate ] - Open Market Economy Nominal and Real Exchange rate Small Open Economy under Fixed and Floating Exchange rate Small Complete Mundell- Fleming Model The Enlargement of Keynesian Model. IS-LM-BP Analysis. - Economic Growth and Economic Devlopment Causes of Growth Resources of Capital and Accumulation of Capital Golden Rule Level of Capital Business Cycle - Economic inequality Pareto`s Law Lorenz Curve and Gini Koeficient Significance of Measurement Income Inequality
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Learning activities and teaching methods
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Lecturing
- Participation in classes
- 18 hours per semester
- Home preparation for classes
- 40 hours per semester
- Term paper
- 20 hours per semester
- Preparation for examination
- 40 hours per semester
- Preparation for course credit
- 30 hours per semester
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| learning outcomes |
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| Knowledge |
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| explain the subject of macroeconomics, aggregation and interdependence of markets, static and dynamic macroeconomic models, with a long and short time horizon, in a closed economy and in an open economy. |
| explain the subject of macroeconomics, aggregation and interdependence of markets, static and dynamic macroeconomic models, with a long and short time horizon, in a closed economy and in an open economy. |
| describe macroeconomic expenditure models (two-sector, three-sector and four-sector) based on the Keynesian concept - consumption and savings, investments. Fisher's model of intertemporal choice; Modigliani's life cycle hypothesis and Friedman's permanent pension hypothesis. |
| describe macroeconomic expenditure models (two-sector, three-sector and four-sector) based on the Keynesian concept - consumption and savings, investments. Fisher's model of intertemporal choice; Modigliani's life cycle hypothesis and Friedman's permanent pension hypothesis. |
| clarify the concepts of the monetary base and monetary aggregates, the quantitative theory of money, the theory of inflation, deflation, the theory of adaptive and rational expectations, the Fischer equation of expected inflation. |
| clarify the concepts of the monetary base and monetary aggregates, the quantitative theory of money, the theory of inflation, deflation, the theory of adaptive and rational expectations, the Fischer equation of expected inflation. |
| describe the aggregates of the employment and unemployment rates, the theory of the natural rate of unemployment and its application in the Phillips curve (the relationship between inflation and unemployment) and Okun's law. |
| describe the aggregates of the employment and unemployment rates, the theory of the natural rate of unemployment and its application in the Phillips curve (the relationship between inflation and unemployment) and Okun's law. |
| to clarify the degree of openness of the economy, fixed and flexible exchange rates and their effects in four-sector models, measurement and modeling of the state's balance of payments, the Marshall-Lerner condition. |
| to clarify the degree of openness of the economy, fixed and flexible exchange rates and their effects in four-sector models, measurement and modeling of the state's balance of payments, the Marshall-Lerner condition. |
| explain business cycles and macroeconomic equilibrium models IS-LM and AS-AD for a closed economy and for an open economy IS-LM-BP Mundell-Fleming model. |
| explain business cycles and macroeconomic equilibrium models IS-LM and AS-AD for a closed economy and for an open economy IS-LM-BP Mundell-Fleming model. |
| describe a long-run dynamic model: economic growth and its measurement. Sources of growth - R. Solow's growth model, catch-up effect of economically backward countries, Cobb - Douglas production function |
| describe a long-run dynamic model: economic growth and its measurement. Sources of growth - R. Solow's growth model, catch-up effect of economically backward countries, Cobb - Douglas production function |
| explain the goals and instruments of economic policy, especially monetary policy in the IS-LM model, and fiscal policy in the IS-LM model. |
| explain the goals and instruments of economic policy, especially monetary policy in the IS-LM model, and fiscal policy in the IS-LM model. |
| Skills |
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| assess the behavior of macroeconomic sectors, especially with the use of expenditure models |
| assess the behavior of macroeconomic sectors, especially with the use of expenditure models |
| evaluate whether the conditions for individual applied macroeconomic models are achieved in practice. |
| evaluate whether the conditions for individual applied macroeconomic models are achieved in practice. |
| calculate and evaluate the growth possibilities of the macroeconomy using the R. Solow model. |
| calculate and evaluate the growth possibilities of the macroeconomy using the R. Solow model. |
| use the advanced analytical tools of macroeconomics to describe and analyze real-world problems. |
| use the advanced analytical tools of macroeconomics to describe and analyze real-world problems. |
| assess the consequences of changing specific macroeconomic instruments in the government's economic policy. |
| assess the consequences of changing specific macroeconomic instruments in the government's economic policy. |
| teaching methods |
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| Knowledge |
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| Lecturing |
| Lecturing |
| assessment methods |
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| Grade (Using a grade system) |
| Oral examination |
| Written examination |
| Written examination |
| Oral examination |
| Grade (Using a grade system) |
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Recommended literature
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BACHANOVÁ, V., MUSIL, P., VYSTAVĚLOVÁ, L. Makroekonomie II cvičebnice. 2005. ISBN 80-210-3669-9.
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HOLMAN, R. Ekonomie. Praha: C.H. Beck, 2016. ISBN 978-80-7400-278-6.
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Jurečka, Václav a kol. Makroekonomie. Praha: Grada, 3. aktual. vyd., 2017. ISBN 978-80-271-0251-8.
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KRUGMAN, P.R., WELLS, R. Macroeconomics. New York: Worth Publishers, 2015. ISBN 978-1-4641-1037-5.
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MANKIW, N.G. Macroeconomics 8th ed.. Basingstoke: Worth Publishers/Palgrawe Macmillan, 2013. ISBN ISBN 978-1-4641-2.
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MANKIW, N.G., TAYLOR, M.P. Macroeconomics 3rd ed.. Andover: Cengage Learning, 2014. ISBN 978-1-4080-8197-6.
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ONDRČKA, Pavel. Rozšíření základů makroekonomické teorie. 2.upravené vydání, Zlín: UTB, 2006. 338 s. 2006. ISBN 80-7318-449-4.
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SCHILLER, B.R. Essenntials of economics. McGraw-Hill Education, 2016. ISBN 978-1259235702.
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SOUKUP, J. Makroekonomie. Dotisk 2., aktualiz. vyd.. Praha: Management Press, 2012. ISBN 978-80-7261-219-2.
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