Macroeconomics 1

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Code	Completion	Credits	Range	Language
18MAK1	Z,ZK	4	2+2	Czech

Vztahy:

The course 18MAK2 can be graded only after the course 18MAK1 has been successfully completed.

Garant předmětu:

Lecturer:

Tutor:

Supervisor:

Department of Software Engineering

Synopsis:

Macroeconomics I provides students with a fundamental theoretical basis for understanding how an economy works. It introduces main macroeconomic indicators, money market, macroeconomic equilibrium theory, fundamentals of open economy theory, inflation, unemployment, economic growth, economic fluctuations, basic macroeconomic models of IS-LM, AS-AD and their implications for economic policies. The learning outcomes of the course is to equip students with ability to analyze macroeconomic phenomena and their interconnections and subsequently to use them under the conditions of modern economic life.

Requirements:

Syllabus of lectures:

1. Introduction to macroeconomics.

2. Macroeconomic product and income.

3. Total expenditures and equilibrium level of income.

4. Money and money market.

5. Open economy. International trade. Exchange rate.

6. Unemployment.

7. Inflation.

8. Economic growth.

9. Aggregate demand and aggregate supply analysis, model IS-LM, model AS-AD. Phillips curve.

10. Bussiness cycle.

11. Monetary policy.

12. Fiscal policy.

13. International trade theory and policy.

Syllabus of tutorials:

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

1. Introduction to macroeconomics.

2. Macroeconomic product and income.

3. Total expenditures and equilibrium level of income.

4. Money and money market.

5. Open economy. International trade. Exchange rate.

6. Unemployment.

7. Inflation.

8. Economic growth.

9. Aggregate demand and aggregate supply analysis, model IS-LM, model AS-AD. Phillips curve.

10. Business cycle.

11. Monetary policy.

12. Fiscal policy.

13. International trade theory and policy.

Study Objective:

This course provides students with a theoretical basis of the functioning of the economy and the interrelationships of macroeconomic variables. The course enables them to understand the functioning of the economic system as a whole and to analyze monetary and fiscal policy in the context of contemporary economic thoughts.

Study materials:

Mandatory reading:

[1] Mankiw G. N.: Macroeconomics, 9e, New York: Worth Publishers, 2016.