Economics
| Kód | Zakončení | Kredity | Rozsah | Jazyk výuky |
|---|---|---|---|---|
| 32ME-P-ECON-01 | Z,ZK | 6 | 4P+1C | anglicky |
- Garant předmětu:
- Aliya Algozhina
- Přednášející:
- Aliya Algozhina, Petr Makovský
- Cvičící:
- Aliya Algozhina, Petr Makovský
- Předmět zajišťuje:
- institut ekonomických studií
- Anotace:
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This course combines selected topics from macroeconomics and microeconomics to give an outline of the main principles in economics working at a country, household, and firm level. In general, countries are governed to maximize welfare of their population by maintaining low inflation, high employment, and stabilizing short-run economic fluctuations. Households maximize their utility by consuming goods and supplying labor to firms. Firms maximize their profit by producing goods and demanding labor from households. The Macro section of this Economics course, therefore, provides an integrated view of macroeconomic theory by presenting an underlying model developed around a country's goods market, financial market, and labor market. It distinguishes the short-run and medium-run horizons by extending the baseline closed-economy setting with the open-economy specifics. In the long run, the Solow model as a fundamental economic growth framework is also covered. The Macro section is taught by Aliya Algozhina every week with no exercise sessions. The Micro section of this course focuses on consumption theory of a household, individual demand function, labor supply, theory of a firm, demand for inputs, cost minimization and profit maximization, perfect competition, monopoly, oligopoly, risk and uncertainty. This is taught by Petr Makovský every week with an exercise session every two weeks.
- Požadavky:
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In order to successfully pass the exam, you first need to pass test from the tutorials, which are mandatory.
Activity in lessons: 10 points; tutorial written test (50% required): 30 points; Microeconomics exam - written test: 30 points; Macroeconomics exam - written test: 30 points; Compulsory attendance min. 80% of tutorials.
The exam itself consists of two parts (micro and macro). It is possible to get a total of 100 points, while a student who gets 50% of the points is successful. The exam is written (possible retest is oral).
- Osnova přednášek:
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Macroeconomics section
Aggregate output (GDP), unemployment, and inflation
Goods and financial markets in a closed economy
The IS-LM model in the short run
Labor market and the Phillips curve in the medium run
The IS-LM-Phillips curve model
The facts of long run growth and the Solow model
Technological progress and the challenges of growth
Openness in goods and financial markets
The Mundell-Fleming model, Policy Trilemma, and exchange rate regimes
Microeconomics section
Optimal consumption choice theory
Individual demand function
Theory of the firm: technology choice, costs, revenues, and profit
Cost minimization, profit maximization
Perfect competition, monopoly, and oligopoly
Input market analysis, demand for inputs
Labor supply
Consumer and firm risk and uncertainty
Financial capital, market and government failures, asymmetric information
- Osnova cvičení:
- Cíle studia:
-
The goal is to enable students to analyze the rational behavior of households, firms, and not only past macroeconomic events but also those that unfold in the future by understanding the mechanisms behind aggregate relationships.
- Studijní materiály:
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Blanchard, O. (2021). Macroeconomics. England, Harlow: Pearson Education, 1-539.
Mankiw, G. (2022). Macroeconomics. New York: Worth Publishers, 11th edition, 1-557.
Nicholson, W., & Snyder, C. M. (2014). Intermediate Microeconomics and its Applications. Cengage Learning, 1-648.
- Poznámka:
- Rozvrh na zimní semestr 2024/2025:
- Rozvrh není připraven
- Rozvrh na letní semestr 2024/2025:
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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 Čt Pá - Předmět je součástí následujících studijních plánů: