B_MaE Macroeconomics

University of Finance and Administration
Summer 2023
Extent and Intensity
2/2/0. 7 credit(s). Type of Completion: zk (examination).
Guaranteed by
Ing. Petr Mach, Ph.D.
Department of Economics and Management - Departments - University of Finance and Administration
Contact Person: Bc. Kamila Procházková
Prerequisites
There are no prerequisites for this course. Students can pass the exam from the subject B_Mae only if they have passed the exam from the subject B_Mie.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The aim of the subject is to introduce students to macroeconomics at the undergraduate level. The students will be able, at the end of the course to:
- understand the meaning of basic macroeconomic indicators (GDP, inflation, the rate of unemployment)
- explain other macroeconomic terms (potential product, money, Phillips curve)
- understand macroeconomic equilibrium: how aggregate supply and aggregate demand are determined
- know the factors of long-term economic growth and short-term business cycle
- understand international macroeconomic terms (the exchange rate, external macroeconomic balance)
- understand the effects and limits of macroeconomic policies (fiscal and monetary policy)
- understand the advantages and disadvantages of international cooperation (international free trade, common currency ...)
Learning outcomes
Learning outcomes are determined by the aim of the subject. The students will be able after completing the course to:
- understand the meaning of basic macroeconomic indicators (GDP, inflation, the rate of unemployment)
- explain other macroeconomics terms (potential product, money, Phillips curve)
- understand macroeconomic equilibrium: how aggregate supply and aggregate demand are determined
- know the factors of long-term economic growth and short-term business cycle
- understand international macroeconomic terms (the exchange rate, external macroeconomic balance)
- understand the effects and limits of macroeconomic policies (fiscal and monetary policy)
- understand the advantages and disadvantages of international cooperation (international free trade, common currency ...)
Syllabus
  • 1. The Price level and inflation
  • 2. Output and unemployment
  • 3. Evolution of Money
  • 4. Money stock
  • 5. Quantity Theory of Money
  • 6. Aggregate demand and Aggregate supply
  • 7. Short-Run Aggregate Supply, Phillip's curve
  • 8. Says's Law of Markets, Keynes!s Consumption function
  • 9. Foreign Exchange, Balance of Payments
  • 10. Monetary Policy
  • 11. Fiscal Policy
  • 12. International cooperation
Literature
    required literature
  • WAWROSZ, Petr; HEISSLER, Herbert; HELÍSEK, Mojmír; MACH, Petr . Makroekonomie základní kurz. 1. vydání. Praha : Vysoká škola finanční a správní, o.p.s., 2012. 360 s. Edice EUPRESS. ISBN 978-80-7408-059-3.
  • WAWROSZ, Petr; HEISSLER Herbert; MACH, Petr 2012. Reálie k makroekonomii – odborné texty, mediální reflexe, praktické analýzy. Praha: Wolters Kluwer. ISBN 978-80-7357-848-0.
    recommended literature
  • Jurečka, Václav a kol. Makroekonomie. Praha: Grada.
  • MACH, Petr. Textbook of Elementary Economics. Prague: VŠFS, 2019. ISBN 978-80-7408-193-4. info
Teaching methods
Lectures and seminars on the present form of the study, consultations on the distant form of the study. Students should attend at least 75% of the lectures and seminars in the full-time form or 50 in the combined form.
Assessment methods
The subject is completed by earning the credit and passing the exam. Earning credit is a necessary condition for students to be able to take the exam.
The student earns credit by passing a midterm online credit test after the 5th lecture and a final online credit test at the end of the course.
The exam is oral.
Language of instruction
Czech
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Information on the extent and intensity of the course: 16 hodin KS/semestr.
Teacher's information
Petr Mach, PhD teaches microeconomics and macroeconomics in English, and Lobbying and Monetary theory and policy in Czech. Between 2014-17 Petr Mach served as a member of the European Parliament.
The course is also listed under the following terms Winter 2007, Summer 2008, Winter 2008, Summer 2015, Summer 2016, Summer 2017, Summer 2018, Summer 2019, Summer 2020, Summer 2021, Summer 2022.
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