114-0503/05 – Macroeconomics B (MAC B)

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
Year1Semestersummer
Study languageEnglish
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
MAH11 prof. Ing. Martin Macháček, Ph.D. et 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:

1. BARRO, Robert J., Angus CHU a Guido COZZI. Intermediate Macroeconomics. Cengage Learning, 2017. ISBN 978-1473725096. 2. BURDA, Michael a Charles WYPLOSZ. Macroeconomics – A European Text. 7th ed. Oxford: Oxford University Press, 2017. 624 p. ISBN 978-0198737513. 3. DORNBUSCH, Rudiger, Stanley FISCHER and Richard STARTZ. Macroeconomics. 13th ed. New York: McGraw-Hill Education, 2017. 640 p. ISBN 978-1259253409.

Recommended literature:

1. HALL, Robert E. a David H. PAPELL. Macroeconomics: Economic Growth, Fluctuations, and Policy. 6th edition. W. W. Norton and Company, 2005. 576 s. ISBN 978-0393975154. 2. HOOVER, Kevin D. Applied Intermediate Macroeconomics. Cambridge: Cambridge University Press, 2011. 940 s. ISBN 978-0521763882. 3. MANKIW, Gregory N. Macroeconomics. 9th edition. Worth Publishers, 2015. 608 s. ISBN 978-1464182891.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

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

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

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2019/2020 (N0312A050001) Public Economics and Administration P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0311A050012) Applied economics P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0311A050013) Applied Economics P English Ostrava 1 Compulsory study plan
2019/2020 (N0413A050014) Economics and Management P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0412A050005) Finance P English Ostrava 1 Compulsory study plan
2019/2020 (N0488A050004) Finance and Accounting P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner