Course: Macroeconomics

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Course title Macroeconomics
Course code EVS/NAMAB
Organizational form of instruction Lecture + Seminary
Level of course Master
Year of study not specified
Semester Summer
Number of ECTS credits 6
Language of instruction English
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Course availability The course is available to visiting students
  • TVRDOŇ Michal, doc. Mgr. Ing. Ph.D.
  • MAJEROVÁ Ingrid, Dr. Ing.
  • ŠPERKA Roman, doc. RNDr. Ing. Ph.D.
Course content
Keynesian Models Two- sector national model and equilibrium income. Consumption, investment and savings function. Output-Expenditure approach. Three sector model tax, consumption and government expenditure function. Aggregate expenditure function and equilibrium national income. Four-sector model import, export and net export function. Output Expenditure approach: equilibrium national income. Crowding out effect. Open Economy and Balance of Payment Characteristic of open economy. Trade balance and net capital outflow. Savings and investment in open economy. Prices for international transactions nominal and real exchange rate. Appreciation and depreciation. Balance of payment and its structure. Current account, capital and financial account, statistical discrepancy. Credit and debit flows in balance of payment. Model IS-LM, IS-LM- BP The current balance on goods market and the market of assets IS-LM model. The effectiveness of fiscal policy and monetary policy through the prism of IS-LM model. The effect of changes in the expected rate of inflation at the level of income in the economy. Effectiveness of fiscal and monetary policy through the prism of the IS-LM-BP in conditions of perfect mobility of capital and the system of fixed and flexible exchange rates. Model AS-AD Aggregate demand and its structure, characteristics of aggregate demand curve and its formalization. Influence of fiscal and monetary policy on shifts in the aggregate demand and aggregate supply curves. Dynamization of the model AS-AD. Fiscal and monetary policy in the case of the dynamic aggregate demand and aggregate supply curves. Business cycle theory Long-run and short-run determination of growth and business cycles. Characteristic of growth and business cycle. Theoretical approach to the business cycle classicals, keynesians and monetarists. Leading, coincident and lagging indicators of business cycles. Causes of fluctuations. The phases of business cycles. International aspects of business cycles. Economic Growth The factors of economic growth natural resources, investment in human capital, investment in capital goods and entrepreneurship. Costs and benefits of economic growth, the issue of welfare and environmental impact of economic growth. Opportunity costs of growth. Economic growth and possibility frontiers. Economic growth and convergence. Empirical cases of economic growth.

Learning activities and teaching methods
Lecture with presentation in Power-point
  • unspecified - 39 hours per semester
  • unspecified - 26 hours per semester
  • unspecified - 40 hours per semester
  • unspecified - 77 hours per semester
Recommended literature
  • ROMER, D. Advanced Macroeconomics. 4th edition. New -York: McGraw-Hill, 2012. ISBN 978-0073511375.
  • SNOWDON, B. and H. R. VANE. Modern Macroeconomics. New -York: McGraw-Hill, 2005. ISBN 1 84542 208 2.

Study plans that include the course