Macroeconomics

Garant předmětu:

Aliya Algozhina

Přednášející:

Aliya Algozhina

Cvičící:

Aliya Algozhina

Předmět zajišťuje:

institut ekonomických studií

Anotace:

This course provides the main macroeconomic concepts to understand how a country operates regarding its aggregate variables and equations describing its markets. Graphical representations of equilibrium conditions are extensively used for easy comprehension and flexibility. The canonical IS-LM (investment-saving, liquidity-money) model, characterizing the goods and financial markets in the short run, is extended by the labor market and thus by the Phillips curve in the medium run. In the long run, the Solow model as a fundamental economic growth framework is also covered. The open economy specifics related to exports-imports and exchange rates are presented within the famous Mundell-Fleming model, including the Policy Trilemma or Impossible Trinity concept. The main textbook is Blanchard (2021). Mankiw (2022) can be used as well. This course has only lectures and no exercise sessions.

Požadavky:

Midterm and non-cumulative final exams count for 35% each of a grade. In-class presentations of students contribute to the remaining 30%. Students may earn additional points through participation in answering questions occasionally asked by the lecturer within the themes of classes. Attendance at classes is expected to pass successfully the course.

Osnova přednášek:

Introduction

Aggregate output (GDP), unemployment, and inflation

The short run

Goods and financial markets

The IS-LM model

The medium run

Labor market and the Phillips curve

The IS-LM-Phillips Curve model

The long run

The facts of growth and the Solow model

Technological progress and the challenges of growth

The open economy

Openness in goods and financial markets

The Mundell-Fleming model, Policy Trilemma, and exchange rate regimes

Summing up

Presentations by students

Osnova cvičení:

Cíle studia:

The goal is to equip students with macroeconomic frameworks helpful to analyze not only past macroeconomic events but also those that unfold in the future by knowing the basic mechanisms behind them. The primary focus is to enable students to translate theoretical concepts into real-world applications. To bridge the gap between theory and practice, students will engage in an analysis of a country and its economy throughout the semester. As various topics are covered in class, students will research how those topics apply to a selected country and make presentations that showcase findings to the class.

Studijní materiály:

Blanchard, O. (2021). Macroeconomics. England, Harlow: Pearson Education, 1-539.

Mankiw, G. (2022). Macroeconomics. New York: Worth Publishers, 11th edition, 1-557.

Lecture slides, a signing-up sheet for presentation, and points of students will be posted in Moodle.

The IMF International Financial Statistics: https://data.imf.org/?sk=4c514d48-b6ba-49ed-8ab9-52b0c1a0179b.

The World Bank Open Data: https://data.worldbank.org/.

The European Central Bank Data Portal: https://data.ecb.europa.eu/.

UN Trade and Development (UNCTAD) statistics: https://unctadstat.unctad.org/datacentre/.

Poznámka:

Economies, like people, get sick high unemployment, recessions, financial crises, low growth. Macroeconomics is about why it happens, and what can be done about it. (Olivier Blanchard, 2021).

Rozvrh na zimní semestr 2024/2025:

	06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Po
Út
St	místnost DEJ:408 Algozhina A. 12:30–14:00 (přednášková par. 1) Dejvice Učebna
Čt
Pá

Rozvrh na letní semestr 2024/2025:

Rozvrh není připraven

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