Study programmes / B-EPA Economic policy and administration / Macroeconomics I
Course code:MA1
Course title in language of instruction:Makroekonomie I
Course title in Czech:Makroekonomie I
Course title in English:Macroeconomics I
Mode of completion and number of credits:Exam (6 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, period A 2/1, period B 4/1; part-time, 16/0
(full-time, hours of lectures per week / hours of seminars per week; part-time, lectures per period / seminars per period)
Language of instruction:Czech
Level of course:bachelor
Semester:SS 2018/2019 - FBE
Name of lecturer:prof. PhDr. Kamil Fuchs, CSc. (supervisor)
Prerequisites:not Final Bachelor Exam
Aims of the course:Students should acquire knowledge on basic macroeconomic concepts. Emphasis is placed on understanding of economic mechanism. Students should identify short-run and long-run impact of specific factors affecting economic environment.
Course contents:
1.Introduction to Macroeconomics and Economic Activity (allowance 6/3)
a.Introduction to macroeconomics. Role of the state in the economy
b.Measuring the value of economic activity
c.Consumption, investments and equilibrium output

2.Money and Money Market (allowance 4/2)
a.Origin and development of money
b.Money demand
c.The banking system and money supply

3.Macroeconomic Equilibrium and Economic Growth (allowance 4/2)
a.AD-AS model
b.Macroeconomic equilibrium and economic growth
c.Business cycles

4.Inflation and its Consequences (allowance 2/1)
a.Concept of inflation in economics
b.Relation of inflation, macroeconomic output and unemployment

5.Open Economy (allowance 4/2)
a.Exchange rates and their macroeconomic effects
b.Balance of payments

6.Role of the State in the Market System (allowance 8/4)
a.Public budgets and taxes
b.State budget and effects of government expenditures
c.Monetary policy of central bank

Learning outcomes and competences:
Generic competences:
-ability to analyse and synthesize
-basic computing skills
-capacity to learn
-professional knowledge
-science and research skills
-skilled at utilizing and processing information

Specific competences:
-Student acquires basic knowledge for other economic courses (microeconomics and economic policy)
-Student can create graphic model of economic problem, solve the problem by suitable methods, interpret results
-Student is able to define basic economic terms and name elementary economic connections
-Student si able do deduce how selected factors affect the economy

Type of course unit:required
Year of study:Not applicable - the subject could be chosen at anytime during the course of the programme.
Work placement:There is no compulsory work placement in the course unit.
Recommended study modules:none
Assessment methods:Student need to pass an exam. The exam consists of written and oral part. Emphasis is placed on written part where students must obtain at least 50 % of maximum points to pass. Acquired points comprise the base for final evaluation: A (at least 90 %), B (80 %), C (70 %), D (60 %), E (50 %). If student doesn't acquire minimal needed points at written part, he/she must repeat the exam. In case of evaluation E, student must pass an oral examination. If other successful students want to improve their evaluation, they must attend the oral exam.
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture42 h16 h
     practice14 h0 h
     consultation10 h20 h
     preparation for exam72 h132 h
     preparation for regular testing30 h0 h
Total168 h168 h

Basic reading list
  • HOLMAN, R. Ekonomie. 5th ed. V Praze: C.H. Beck, 2011. 696 p. Beckovy ekonomické učebnice. ISBN 978-80-7400-006-5.
  • MANKIW, N G. Zásady ekonomie. 1st ed. Praha: Grada Publishing, 2000. 763 p. ISBN 80-7169-891-1.
Recommended reading list
  • JUREČKA, V. et al. Makroekonomie. 1st ed. Praha: Grada, 2010. 332 p. Expert. ISBN 978-80-247-3258-9.
  • MANKIW, N G. Principles of Economics, 6th edition. USA: South-Western Cengage Learning, 2012. 856 p. ISBN 978-0-538-45305-9.