OPF:EVSNAMAB Macroeconomics - Course Information

EVSNAMAB Macroeconomics

Extent and Intensity

3/2/0. 6 credit(s). Type of Completion: zk (examination).

Teacher(s)

Dr. Ing. Ingrid Majerová (lecturer)
Dr. Ing. Ingrid Majerová (seminar tutor)

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

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

there are 7 fields of study the course is directly associated with, display

Course objectives

The aim of this course is to provide students with the necessary knowledge in a comprehensive way to enable their better orientation in a relatively complex area of international business and enable them to apply their knowledge of international markets and international marketing methods in practice. International marketer needs to know, analyze and respond to changes in the international environment and also needs to be able to successfully apply knowledge of specific marketing strategies that determine the success of international business.

Syllabus

• Keynesian Models
  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. Four-sector model import, export and net export function. Output Expenditure approach: equilibrium national income. Crowding out effect.
  Open Economy and Balance of Payment
  Characteristic of open economy. Trade balance and net capital outflow. Savings and investment in open economy. Prices for international transactions nominal and real exchange rate. Appreciation and depreciation. Balance of payment and its structure. Current account, capital and financial account, statistical discrepancy. Credit and debit flows in balance of payment.
  Model IS-LM, IS-LM- BP
  The current balance on goods market and the market of assets IS-LM model. The effectiveness of fiscal policy and monetary policy through the prism of IS-LM model. The effect of changes in the expected rate of inflation at the level of income in the economy. Effectiveness of fiscal and monetary policy through the prism of the IS-LM-BP in conditions of perfect mobility of capital and the system of fixed and flexible exchange rates.
  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. Dynamization of the model AS-AD. Fiscal and monetary policy in the case of the dynamic aggregate demand and aggregate supply curves.
  Business cycle theory
  Long-run and short-run determination of growth and business cycles. Characteristic of growth and business cycle. Theoretical approach to the business cycle classicals, keynesians and monetarists. Leading, coincident and lagging indicators of business cycles. Causes of fluctuations. The phases of business cycles. International aspects of business cycles.
  Economic Growth
  The factors of economic growth natural resources, investment in human capital, investment in capital goods and entrepreneurship. Costs and benefits of economic growth, the issue of welfare and environmental impact of economic growth. Opportunity costs of growth. Economic growth and possibility frontiers. Economic growth and convergence. Empirical cases of economic growth.
  

Literature

required literature
• ROMER, D. Advanced Macroeconomics. 4th edition. New -York: McGraw-Hill, 2012. ISBN 978-0073511375. info
• SNOWDON, B. and H. R. VANE. Modern Macroeconomics. New -York: McGraw-Hill, 2005. ISBN 1 84542 208 2. info

Teaching methods

Lecture with presentation in Power-point

Assessment methods

Grade

Language of instruction

English

Further comments (probably available only in Czech)

The course can also be completed outside the examination period.

Teacher's information

attendance in seminars 60 %, final combined exam

Activity	Difficulty [h]
Ostatní studijní zátěž	77
Přednáška	39
Seminář	26
Zkouška	40
Summary	182

• Enrolment Statistics (Summer 2019, recent)
  
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