114-0303/05 – Macroeconomics B (MAEB)

Gurantor departmentDepartment of EconomicsCredits6
Subject guarantorprof. Ing. Martin Macháček, Ph.D. et Ph.D.Subject version guarantorprof. Ing. Martin Macháček, Ph.D. et Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semesterwinter
Study languageCzech
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
BAD0012 Ing. Ondřej Badura
HLA31 Ing. Karel Hlaváček, Ph.D.
JAW127 Ing. Jan Janků, Ph.D.
LOK02 Ing. Aleš Lokaj, Ph.D.
MAH11 prof. Ing. Martin Macháček, Ph.D. et Ph.D.
MEL044 doc. Ing. Aleš Melecký, Ph.D.
SUL080 Ing. Monika Šulganová, Ph.D.
WRO25 Ing. Tomáš Wroblowský, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+2

Subject aims expressed by acquired skills and competences

- analyze the short-run, medium-run, and long-run macroeconomic phenomena and processes by formal models - compare the mainstream macroeconomic theories and identify their strenghts and weaknesses - explain the consequences of monetary and fiscal policies within competing macroeconomic models - calculate the equilibrium values of aggregate output, price level, interest rate and other variables and changes in these values in response to macroeconomic policies - contrast the closed economy models and open economy models with differing rate of capital mobility - evaluate the importance of alternative macroeconomic approaches and methodologies for generating social welfare

Teaching methods

Lectures
Seminars

Summary

The aim of the subject is to both deepen and expand students´ knowledge of macroeconomic phenomena acquired in the first year of their studies. The subject covers various areas of mainstream macroeconomic theory at the intermediate level. Unlike introductory macroeconomics ("Macroeconomics A") course, this subject strongly emphasizes microeconomic foundations of macroeconomic theories and thus requires sound knowledge of basic economic principles. Within the subject, neo-Keynesian, monetarist, new classical and new Keynesian doctrines are confronted and discussed.

Compulsory literature:

HOLMAN, Robert. Makroekonomie: Středně pokročilý kurz. 3. vyd. Praha: C. H. Beck, 2018. 480 s. ISBN 978-80-7400-541-1. MACHÁČEK, Martin a kol. Makroekonomie B – Soubor úloh ze středně pokročilé makroekonomie Ostrava: Vysoká škola báňská – Technická univerzita 2017. 108 s. ISBN 978-80-248-4012-3. SOUKUP, Jindřich a kol. Makroekonomie. 3., aktualizované a doplněné vyd. Praha: Management Press, 2018. 536 s. ISBN 978-80-726-1537-7.

Recommended literature:

JUREČKA, Václav a kol. Makroekonomie. 3., aktualizované a rozšířené vydání. Praha: Grada Publishing 2017. 368 s. ISBN 978-80-271-0251-8. MACH, Miloš. Makroekonomie II pro magisterské (inženýrské) studium. 1. a 2. část. 3. vyd. Slaný: Melandrium, 2001. 368 s. ISBN 8086175189. DORNBUSCH, Rudiger, Stanley FISCHER and Richard STARTZ. Macroeconomics. 13th ed. New York: McGraw-Hill Education, 2017. 672 p. ISBN 978-1259290633.

Way of continuous check of knowledge in the course of semester

Written credit test and written exam.

E-learning

Other requirements

Active participation in seminars.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. The IS-LM model. 2. Fiscal and monetary policies in the IS-LM model. 3. The augmented IS-LM model. 4. Static aggregate demand models. 5. The dynamic aggregate demand model. 6. Short-run aggregate supply models. 7. The macroeconomics of imperfect competition. 8. Unemployment and inflation. Phillips and Taylor curves. 9. Consumption, investment, and the business cycle. 10. The Solow-Swan model of economic growth. New growth theory. 11. The IS-LM-BP model. 12. Fiscal and monetary policies in the IS-LM-BP model. 13. Financial crises and their macroeconomic impacts. Tutorials: 1. Topical macroeconomic problems of the Czech Republic (discussion). 2. The IS-LM model. Fiscal policy multipliers. Monetary policy multipliers. 3. The IS-ALM model. Analysis of the changes in expected inflation and the maturity premium components. 4. Aggregate demand and aggregate supply. The Lucas model of aggregate supply. New Keynesian model. 5. Unemployment and inflation. Comparison of Phillips and Taylor curves. Adjustment process in the DAS-DAD model. 6. Economic growth accounting. Correlation analysis of the business cycle. 7. The IS-LM model with a real exchange rate. The IS-LM-BP model with perfect and imperfect capital mobility. 8. Accreditation test.

Conditions for subject completion

Conditions for completion are defined only for particular subject version and form of study

Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (N0311A050012) Applied economics EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0488A050004) Finance and Accounting EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0312A050001) Public Economics and Administration EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0413A050014) Economics and Management EKO P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0414A050001) Marketing and Business EK P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0688A050001) Information and Knowledge Management P Czech Ostrava 1 Choice-compulsory type B study plan
2019/2020 (N0312A050001) Public Economics and Administration EKO P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0311A050012) Applied economics EKO P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0413A050014) Economics and Management EKO P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0488A050004) Finance and Accounting EKO P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner