114-0403/08 – Macroeconomics B (MAEB)
| Gurantor department | Department of Economics | Credits | 6 |
| Subject guarantor | prof. Ing. Zuzana Kučerová, Ph.D. | Subject version guarantor | prof. Ing. Zuzana Kučerová, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 1 | Semester | summer |
| | Study language | Czech |
| Year of introduction | 2019/2020 | Year of cancellation | |
| Intended for the faculties | EKF | Intended for study types | Follow-up Master |
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:
Recommended literature:
Additional study materials
Way of continuous check of knowledge in the course of semester
Písemný zápočet a písemná zkouška.
Zkouška je písemná v hromadně vypsaných termínech.
Pro studenty s ISP platí shodné podmínky.
E-learning
Other requirements
Study of recommended literature.
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.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction