Macroeconomics

Relations:

It is not possible to register for the course 32BE-P-MACR-01 if the student is concurrently registered for or has previously completed the course 32BC-P-MACR-01 (mutually exclusive courses).

Course guarantor:

Aliya Baqyt

Lecturer:

Aliya Baqyt

Tutor:

Aliya Baqyt

Supervisor:

Institute of Economic Studies

Synopsis:

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. First, we pay greater attention to long-run issues (on which classicals and Keynesians have less disagreement). Second, we focus on the classical and Keynesian analyses of short-run fluctuations within a single overall framework, in which we show that the two approaches differ in their assumptions about how quickly wages and prices adjust. Where differences in viewpoint remain, we present and critique both perspectives. This balanced approach, including the open economy specifics, exposes students to all the best ideas in modern macroeconomics. The main textbook is Abel, Bernanke, and Croushore (2024). Blanchard (2021) and Mankiw (2022) can be used as well. This course has only lectures and no exercise sessions.

Requirements:

Midterm and non-cumulative final exams count for 35% each of a grade. In-class presentation of students contributes to another 20%, and the remaining 10% comes from weekly participation in answering questions and class discussions. Attendance at classes is expected to pass successfully the course.

Syllabus of lectures:

Introduction

- The measurement and structure of the national economy

Long-run economic performance

- Productivity, output, and employment

- Consumption, saving, and investment

- Long-run economic growth

- The asset market, money, and prices

Business cycles and macroeconomic policy

- Business cycles and the IS-LM/AD-AS model: a general framework for macroeconomic analysis

- Classical business cycle analysis: market-clearing macroeconomics

- Keynesianism: the macroeconomics of wage and price rigidity

Macroeconomic policy: its environment and institutions

- Unemployment and inflation

- Exchange rates, business cycles, and macroeconomic policy in the open economy

- Presentations by students on monetary and fiscal policy

Syllabus of tutorials:

Study Objective:

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 a monetary and fiscal policy analysis of a particular country they choose for their team research and presentation.

Study materials:

Abel, A. B., Bernanke, B. S., & Croushore, D. (2024). Macroeconomics. England, Harlow: Pearson Education, 1-685.

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

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

Course syllabus, lecture slides, papers for reading, links to relevant webpages and podcasts, a signing-up sheet for presentation, and points of students will be posted in Moodle.

Official websites of central banks: https://www.bis.org/cbanks.htm?m=59

The IMFs country pages: https://www.imf.org/en/countries

Public debt and treasury materials: https://www.publicdebtnet.org/pdm/useful-links/

Links to selected ministries or treasuries: https://www.mef.gob.pe/en/links-of-interest/422-home-english/news/2235-ministries-of-economy-finance-andor-treasury-of-the-world

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

Note:

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).

Time-table for winter semester 2025/2026:

	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
Mon
Tue	roomDEJ:209 Algozhina A. 12:30–14:00 (lecture parallel1) Dejvice
Wed
Thu
Fri

Time-table for summer semester 2025/2026:

Time-table is not available yet

The course is a part of the following study plans:

• B-EM-P prezenční studium od 22/23 (compulsory course)
• B0413P050061 Ekonomika a management (profesní studijní program) - počínaje od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ101 Marketing) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ102 Personální management) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ103 Řízení firemních procesů) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ104 Účetnictví) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ105 Manažerská informatika) od ZS 2023/2024 (compulsory course, compulsory elective course)
• B0413P050061 Ekonomika a management (OZ106 Obchodní podnikání) od ZS 2023/2024 (compulsory course, compulsory elective course)