Study programmes / C-EM Economics and Management / Intermediate Macroeconomics
Course code:MA2
Course title in language of instruction:Makroekonomie II
Course title in Czech:Makroekonomie II
Course title in English:Intermediate Macroeconomics
Mode of completion and number of credits:Exam (5 credits)
(1 ECTS credit = 28 hours of workload)
Mode of delivery/Timetabled classes:full-time, 2/2; 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:master continuing
Semester:SS 2018/2019 - FBE
Name of lecturer:doc. Ing. Petr Rozmahel, Ph.D. (supervisor)
Prerequisites:Final Bachelor Exam and not REO
 
Aims of the course:The objective of the course is to develop knowledge of students at the level of Intermediate Macroeconomics. The course focuses on real economy analysis using short-term as well as long-term equilibrium models of the main stream economics. The course explains determinants of macroeconomic equilibrium applying the models of closed and open economy. The course also deals with the analysis and interpretation of macroeconomic policy impacts. The course aims at developing students' abilities to link and apply various theoretical approaches to real issues of contemporary economic development.
Course contents:
1.Introduction into Macroeconomics II (Intermediate macroeconomics) (allowance 2/2)
 
a.Fundamental terms and linkages
b.History of economic thought, Main stream economics

2.Long-run equilibrium models (allowance 8/8)
 
a.Goods and services market equilibrium: Consumption and saving functions
b.Goods and services market equilibrium: Investment and net export function
c.Money market, inflation
d.External equilibrium, balance of payments, exchange rate determinants

3.Long-run economic growth (allowance 4/4)
 
a.Solow neoclassical model
b.Endogenous growth model
c.Contemporary approaches

4.Short-run economy equilibrium models (allowance 10/10)
 
a.IS-LM model: Closed economy in a short run
b.Monetary and fiscal policy in the IS-LM model
c.Open economy, IS-LM-BP model, Mundell-Fleming model
d.Aggregate supply models
e.Phillips curve, inflation, unemployment
f.Business cycles

5.Macroeconomic policy (allowance 4/4)
 
a.Monetary policy
b.Fiscal policy

Learning outcomes and competences:
Generic competences:
 
-ability to analyse and synthesize
-ability to solve problems
-professional knowledge
-science and research skills
-skilled at utilizing and processing information

Specific competences:
 
-student can describe and explain neo-classical and Keynesian paradigm in macroeconomics
-student can determined the causes of individual economic phenomenon and suggect the solution with respect to main theoretical approaches
-student can explain the differences and economic policy recommendations of modern theoretical attitudes
-student can foresee the impact of external changes to economy from mainstream theoretical approaches
-student is able to interpret the impact of economic policy measures from view mainstream approaches

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:The internal students are obliged to pas two partial written tests, during the study periods. Reaching minimum at 25 points of the total 50 is required to at the credit. In case of failure students can resit (retake) the test. The course is completed by the final examination consisting of the written and oral parts. To pass the written exam, reaching the minimum at 25 points of the total 50 is required. The conditions of final examinations are identical for the external as well as internal students.
 
Learning activities and study load (hours of study load)
Type of teaching methodDaily attendanceCombined form
Direct teaching
     lecture28 h0 h
     practice28 h0 h
     consultation0 h16 h
Self-study
     preparation for exam50 h124 h
     preparation for regular testing34 h0 h
Total140 h140 h

Basic reading list
  • HOLMAN, R. Makroekonomie: středně pokročilý kurz. 2nd ed. Praha: C.H. Beck, 2010. 424 p. Beckovy ekonomické učebnice. ISBN 978-80-7179-861-3.
  • MANKIW, N G. Principles of Economics, 6th edition. USA: South-Western Cengage Learning, 2012. 856 p. ISBN 978-0-538-45305-9.
  • MANKIW, N G. Macroeconomics. 7th ed. New York, NY: Worth, 2009. 598 p. ISBN 978-1-4292-3812-0.
Recommended reading list
  • DORNBUSCH, R. -- FISCHER, S. -- STARTZ, R. Macroeconomics. 9th ed. Boston: McGraw-Hill/Irwin, 613 p. ISBN 0-07-282340-2.
  • BARRO, R J. Macroeconomics : a modern approach. Mason, OH: Thomson South-Western, 2008. 492 p. ISBN 978-0-324-54567-8.
  • BURDA, M C. -- WYPLOSZ, C. Macroeconomics: a European text. 6th ed. 2013. 573 p. ISBN 978-0-19-960864-5.
  • ŠEVELA, M. Makroekonomie II: středně pokročilý kurz. 2nd ed. V Brně: Mendelova univerzita, 2012. 202 p. ISBN 978-80-7375-609-3.