EVSBAMAE Macroeconomics

School of Business Administration in Karvina
summer 2024
Extent and Intensity
2/2/0. 7 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Radka Kubalová, Ph.D. (lecturer)
Guaranteed by
prof. Mgr. Ing. Michal Tvrdoň, Ph.D.
Departament of Economics and Public Administration – School of Business Administration in Karvina
Contact Person: Dr. Ing. Ingrid Majerová
Timetable
Mon 13:05–14:40 A406
  • Timetable of Seminar Groups:
EVSBAMAE/01: Mon 14:45–16:20 A406, R. Kubalová
Prerequisites (in Czech)
FAKULTA(OPF) && TYP_STUDIA(B) && FORMA(P)
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives (in Czech)
The goal of course is to provide students with a broad overview of the aggregate economy. Students will become familiar with measures of economic performance and learn to use these indicators to evaluate current economic conditions. Students will learn the major perspectives on what determines performance of the overall economy and will learn to analyze impacts on the economy. Students will learn the key approaches to macroeconomic policy. They will develop skills to analyze impacts of policy actions and to evaluate the advantages and disadvantages of different policies. Given the ubiquity of coverage of macroeconomics in the national and local media, the course should feature an important “real world” component. In particular, instructors should make an effort to draw on recent periodicals and newspapers to discuss the applications of the theories and ideas to the real world.
Learning outcomes (in Czech)
Students will be able to:
1. Effectively express general economic concepts and the ability to think critically in written/oral form.
2. Locate and use information related to economics.
3. Demonstrate ability to integrate knowledge and ideas in a coherent and meaningful manner.
During the course students will learn how to:
1.Explain the measurement and importance of GDP, inflation, unemployment, money, and trade. Be able to describe the cause and effect of changes in all of these variables.
2.Read and explain the content of economic materials from a secondary source (newspaper, news, website etc.) Relate economic concepts to these real world events and critically evaluate the impact of economic policy.
Syllabus
  • 1. Introduction to macroeconomics
    The issue of macroeconomics, determinants and the economic cycle. Macroeconomic equilibrium. Types of inflation and unemployment and their mutual relations. Various kind of product and its measurement. The goal of macroeconomic policy.
    2. Keynesian models in closed economy
    Two-sector national model and equilibrium income. Consumption, investment and savings function. Output-Expenditure approach. Three sector model – tax, consumption and government expenditure function. Aggregate expenditure function and equilibrium national income.
    3. Keynesian model in open economy
    Characteristic of open economy. Four-sector model – import, export and net export function. Output Expenditure approach: equilibrium national income. Crowding out effect. Savings and investment in open economy. Balance of payment and its structure. Current account, capital and financial account, statistical discrepancy.
    4. Model AS-AD
    Aggregate demand and its structure, characteristics of aggregate demand curve and its formalization. Influence of fiscal and monetary policy on shifts in the aggregate demand and aggregate supply curves. Fiscal and monetary policy in the case of the aggregate demand and aggregate supply curves.
    5. Unemployment and Inflation
    Definition and types of unemployment (frictional, structural, cyclical, voluntary and involuntary...). Definition and types of inflation (desinflation, hyperinflation, hidden inflation etc.).
    6. Fiscal Policy
    The types and characteristics of fiscal policy. Public sector and budget. Deficits, surpluses and national debt. Fiscal policy in model AS-AD.
    7. Money and Monetary Policy
    Money and its role in economy. Functions of money and money 'creation'. Characteristics and types of monetary policy. Monetary policy in model AS-AD.
    8. Economic Growth
    The characteristic of economic growth. The factors of economic growth. Costs and benefits of economic growth, the issue of welfare and environmental impact of economic growth. Economic growth and possibility frontiers. Economic growth and empirical cases.
    9. Business cycles
    Long-run and short-run determination of growth and business cycles. Characteristic of growth and business cycle. The phases of business cycles. Causes of fluctuations. Leading, coincident and lagging indicators of business cycles. International aspects of business cycles.
Literature
    required literature
  • MANKIEW, N.G., 2017. Principles of Macroeconomics, 8th Edition. Stamford: Cengage Learning. ISBN 978-1305971509.
  • JONES, CH. I., 2016. Macroeconomics, 4th Edition. W. W. Norton & Company. ISBN 978-0-393-60248-7.
    recommended literature
  • SCHILLER, B. R. and GEBHARDT, K., 2015. The Marco Economy Today, 14th Edition. New York: McGraw-Hill. ISBN 978-1-259-29182-1.
  • CHIANG, E., 2016. Macroeconomics: Principles for a Changing World, 4th Edition. Worth Publishers. ISBN 978-1464186929.
  • WILLIAMSON, S. D., 2017. Macroeconomics. Pearson. ISBN 978-0134472119.
Teaching methods (in Czech)
Lectures
Class discussion
Teamwork and presentation
Homework
Assessment methods
Seminar activities (15 %);
Continuous assessment (55 %);
Group project with presentation (30 %);
Final oral examination
Language of instruction
English
The course is also listed under the following terms Winter 2021, Summer 2022.
  • Enrolment Statistics (recent)
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