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CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2019/2020

Macroeconomics 2

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Code Completion Credits Range Language
18MAK2 Z,ZK 4 2+2 Czech
Lecturer:
Quang Van Tran (guarantor)
Tutor:
Quang Van Tran (guarantor)
Supervisor:
Department of Software Engineering
Synopsis:

Macroeconomics II extends theoretical knowledge acquired from Macroeconomics I of its students with the latest knowledge of contemporary macroeconomics. They are models of economic growth, especially those with an emphasis on the role of human capital and technological progress. Furthermore, it introduces students to modern principles of economic modeling, i.e., macroeconomic models derived from microeconomic behavior of subjects and economics and their rational expectations. It also provides students with modern knowledge of labor market modeling.

Requirements:

completion of Macroeconomics I

Syllabus of lectures:

1. Economic growth.

2. Solow-Swan's model of economic growth.

3. Ramsey's model of economic growth.

4. One-sector model of endogenous economic growth.

5. Two-sector model of endogenous economic growth.

6. Model of economic growth with expanding variety of intermediates.

7. Model of economic growth with increasing quality of intermediates.

8. Macroeconomic modeling.

9. New classical macroeconomics.

10. New Keynesian Macroeconomics.

11. Economic policy.

12. Equilibrium model of the labor market.

13. Analysis of labor market behavior.

Syllabus of tutorials:

The structure of exercises is identical to lectures. Exercises are focused on typical problems from each topic.

1. Economic growth.

2. Solow-Swan's model of economic growth.

3. Ramsey's model of economic growth.

4. One-sector model of endogenous economic growth.

5. Two-sector model of endogenous economic growth.

6. Model of economic growth with expanding variety of intermediates.

7. Model of economic growth with increasing quality of intermediates.

8. Macroeconomic modeling.

9. New classical macroeconomics.

10. New Keynesian Macroeconomics.

11. Economic policy.

12. The equilibrium model of the labor market.

13. Analysis of labor market behavior.

Study Objective:

This course extends the knowledge of the subject 18MAK1 by modern theories of economic growth and a new approach to modeling the economy and the labor market. Having taken Macroeconomics II, its student will be able to analyze the impact of various factors on economic growth and implications for appropriate economic policy. Furthermore, they should be able to derive, under given assumptions, the relevant model of the functioning of the economy and the labor market, and after that to infer important implications for practical economic policy.

Study materials:

Mandatory reading:

Jones, C. I., Vollrath, D.. Introduction to Economic Growth, 3e. New York: W. W. Norton & Company, 2013.

Recommended reading:

[2] Barro, R. J., Sala-i-Martin, X.. Economic Growth: Cambridge, Massachusetts, MIT Press, 2004.

[3] Galí, J.: Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton: Princeton University Press, 2008.

[4] Pissarides, C. A.: Equilibrium Unemployment Theory 2e, Cambridge Massachusetts: MIT Press, 2000.

Note:
Time-table for winter semester 2019/2020:
Time-table is not available yet
Time-table for summer semester 2019/2020:
Time-table is not available yet
The course is a part of the following study plans:
Data valid to 2019-09-15
For updated information see http://bilakniha.cvut.cz/en/predmet11370605.html