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Lecturer(s)
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Horáková Monika, Ing. Ph.D.
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Heinzová Romana, Ing. Ph.D.
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Course content
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BLOCK 1 - Introduction to the study of macroeconomics - neoclassical economics, Keynesian macroeconomics, macroeconomics and the economic crisis. - Measurement of macroeconomic quantities - product and its measurement, three approaches to measuring flows in the economy: production, expenditure and income method, national income, personal and disposable income, magic quadrilateral - inflation and its measurement, unemployment and its measurement, balance of payments and trade . - Macroeconomic balance - AD-AS model - models of economic balance, classical model of economic balance, Keynesian model of economic balance, aggregate and consumer demands and consumption functions, average and marginal propensity to consume, marginal propensity to save, determinants of consumption, expenditure multiplier. BLOCK 2 - 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. - 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. - 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. BLOCK 3 - 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. BLOCK 4 - 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 import. - International connections 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 - International Monetary Fund, World Bank Group, European Central Bank and Eurozone, 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
- Home preparation for classes
- 60 hours per semester
- Preparation for course credit
- 36 hours per semester
- Preparation for examination
- 36 hours per semester
- Participation in classes
- 18 hours per semester
- Home preparation for classes
- 36 hours per semester
- Preparation for course credit
- 36 hours per semester
- Preparation for examination
- 36 hours per semester
- Participation in classes
- 42 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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| 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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| Written examination |
| Written examination |
| Grade (Using a grade system) |
| Grade (Using a grade system) |
| Oral examination |
| Oral examination |
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Recommended literature
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ARNOLD, R. A. Macroeconomics, Thirteenth edition. United States: Cengage, 2019. ISBN 9781337617390.
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BRČÁK, L., SEKERKA, B., SEVEROVÁ, L., STARÁ, D. Makroekonomie. Makroekonomický přehled, 2. vydání. Plzeň: Aleš Čeněk, 2020. ISBN 978-80-7380-831-0.
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CASE, Karl E., Ray C. FAIR a Sharon M. OSTER. Principles of Macroeconomics. 12th Edition. Global Edition. Pearson, 2017. ISBN 978-1-292-15089-5.
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HEJDUKOVÁ, P. Veřejné finance - Sbírka příkladů a případových studií.. Praha: C.H.Beck, 2015. ISBN 978-80-7400-299-1.
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HOLMAN, R. Ekonomie. 6. vydání. V Praze: C.H. Beck, 2016. ISBN 978-80-7400-278-6.
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JUREČKA, V. a MACHÁČEK, M. Makroekonomie, 4. aktualizované a rozšířené vydání. Praha: Grada, 2023. ISBN 978-80-271-3635-3.
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KRUGMAN, P., R., WELLS, R. Macroeconomics. Fifth edition.. New York: Macmillan Education., 2018. ISBN 978-1-319-18195-6.
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MANKIW, N., G. Macroeconomics. Tenth edition.. New York: Macmillan international, higher education., 2019. ISBN 978-1-319-24358-6.
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MANKIW, N. G. Principles of Macroeconomics, 8th Edition. 2021. ISBN 978-1305971509.
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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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Odborná ekonomická periodika. Hospodářské noviny. Ekonom. Euro. Politická ekonomie. The Econom. .
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PARKIN, M. Macroeconomics. Fourteenth edition, Global edition. Harlow: Pearson, 2023. ISBN 978-1-292-43360-8.
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POŠTA, V. Makroekonomická analýza na příkladu české ekonomiky.. Praha: C.H.Beck, 2018. ISBN 9788074007200.
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ROJÍČEK, Marek, SPĚVÁČEK, Vojtěch, VEJMĚLEK, Jan a kol. Makroekonomická analýza. Teorie a praxe.. Praha: Grada Publishing, 2016. ISBN 978-80-247-5858-9.
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SCHILLER, B. R. Essentials of economics. 10th edition. Dubuque. IA: McGraw-Hill Education, 2016. ISBN 978-1259235702.
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SOUKUP, Jindřich; POŠTA, Vít; NESET, Pavel a PAVELKA, Tomáš. Makroekonomie, 4. aktualizované vydání. Praha: Management Press, 2022. ISBN 978-80-7261-596-4.
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VLČEK, J. Ekonomie a ekonomika. Praha: Wolters Kluwer ČR, 2016. ISBN 978-80-7552-190-3.
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VOLEJNÍKOVÁ, J. a kol. Makroekonomie I cvičebnice. Pardubice, 2021. ISBN 978-80-7560-344-9.
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