Předmět Macroeconomics 2 (MPE_AMA2)

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Materiál	Typ	Datum	Počet stažení

Cíl

At the end of the course students should be able to:-understand methods of measurement of macroeconomic indicators (GDP, inflation and unemployment) and apply these methods on data;- derive supply and demand for factors of production and explain how national income is distributed;- derive supply and demand for loanable funds;- interpret formation of equilibrium at market of factors of production, market of goods and services and loanable funds market, all in closed economy;- understand and explain quantity theory of money and relationship between interest rate and inflation (Fisher effect);- derive money demand and explain formation of equilibrium at money market;- explain cost of expected and unexpected inflation and cost of hyperinflation;- explain how banking system is working, including derivation of money multiplier;- derive model of loanable funds for small open economy;- give information about determinants of nominal and real exchange rate;- derive model for determination of equilibrium exchange rate and use it for analysis of economic policy;- define various types of unemployment and explain their determinants;- derive model of natural rate of unemployment;- derive and interpret Solow growth model with population growth and technology progress;- determine steady state and golden rule of capital accumulation in Solow model;- use Solow model for economic policy analysis;- sketch concepts of endogenous growth models;- explain differences between neoclassical growth model (Solow) and models of endogenous growth;- give basic facts about business cycles;- derive IS curve from model of Keynesian cross, calculate fiscal multipliers;- derive LM curve from theory of liquidity preference;- determine equilibrium in IS-LM model and derive aggregate demand (AD);- analyze impacts of monetary and fiscal policy on equilibrium in IS-LM model and AD curve;- derive Mundell-Fleming model (including derivations of IS* a LM* curves) for small open economy;- analyze effects of economic policy in regimes of fixed and floating exchange rate;- compare exchange rate regimes, evaluate their pros and cons;- derive short-run aggregate supply (AS), sketch basic theories;- analyze short-run fluctuation in AS-AD model;- describe Phillips curve;- explain differences between adaptive and rational expectations;- analyze desinflation policy for different kinds of expectations, calculate and interpret sacrifice ratio;- explain differences between active and passive economic policy, define inside and outside lags;- assess advantages and disadvantages of discretionary policy and policy that follows rules;- give overview of opinions on government debt;- give overview of theories dealing with consumption;- explain inter-temporal choice model and its modifications when interest rate changes and when borrowing constraint exists;- explain principles of life-cycle hypothesis and hypothesis of permanent income;Student will be able to explain above mentioned concepts in theory and also to apply them to problems from the real world. The aim of this course is also to prepare students for final state exam, to prove they are able to think like economists and are able to express their own opinion.

Osnova

1/ Macroeconomic data 2/ National Income 3/ Money and Inflation 4/ Open Economy 5/ Unemployment 6/ Economic growth I 7/ Economic growth II 8/ ISLM model 9/ Mundell-Fleming model 10/ Aggregate Supply and Phillips Curve 11/ Monetary and Fiscal Policy 12/ Consumption

Literatura

povinná literaturaMANKIW, N. Gregory. Macroeconomics. 8th ed. Houndmills: Worth Publishers, 2013. xxxvi, 623. ISBN 9781464121678. info

Požadavky

(! MKE_MAE2 Makroekonomie 2 ) && (! MPE_MAE2 Makroekonomie 2 ) && (! NOWANY ( MPE_MAE2 Makroekonomie 2 , MKE_MAE2 Makroekonomie 2 ))

Garant

doc. Ing. Zdeněk Tomeš, Ph.D.

Vyučující

Ing. Ondřej Krčál, Ph.D.