NA_MaE Macroeconomics

University of Finance and Administration
Summer 2025
Extent and Intensity
2/1/0. 6 credit(s). Type of Completion: zk (examination).
Guaranteed by
doc. Ing. Jan Mertl, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Bc. Kateřina Konupková
Prerequisites
Completed N_MiE.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
The aim of the course is to explain inter-mediate macroeconomic concepts of both neoclassical and Keynesian approaches, that is to explain relationships among macroeconomic variables in the long run and in the short run.
Learning outcomes
Students will understand intermediate macroeconomic concepts for the long run and for the short run, including the quantity theory of money, IS-LM model, demand for money and Phillips curve.
Syllabus
  • 1. The costs of inflation and deflation. Effects on creditors, debtors and purchasing power. Hyperinflation.
  • 2. Long-run economic growth. Exogenous and endogenous growth.
  • 3. Theory of money and demand for money. The quantitative theory of money.
  • 4. Theories of the business cycle. Determinants of aggregate expenditure. AS-AD model.
  • 5. Short-run aggregate supply. Causes of nominal rigidities.
  • 6. IS-LM model. Macroeconomic equilibrium in the short run.
  • 7. Phillips curve. Macroeconomic analysis in short and long run.
  • 8. Fiscal policy. The crowding-out effect. Time lags.
  • 9. Monetary policy. Time lags.
  • 10. Exchange rate theories. The balance of payments.
  • 11. Mundell-Fleming model. Monetary unions. Optimum currency area theory.
  • 12. Foreign Trade. Barriers and sanctions. Economic integration and disintegration.
Literature
    required literature
  • MACH, Petr: Textbook of intermediate economics. Available in "study materials" in IS
    recommended literature
  • MACH, Petr. Textbook of Elementary Economics. Prague: VŠFS, 2019. ISBN 978-80-7408-193-4. info
    not specified
  • Sobel, R., Gwartney, J., Stroup, R., Macpherson, D.: Understanding Macroeconomics. 13th international ed. Mason, OH: South-Western Cengage Learning, 2011, ISBN 978-0-538-75620-4
  • MANKIW, G.: Macroeconomics. 7th edition. Worth publishers. New York 2010. ISBN 978-1-4292-1887-0
Teaching methods
Lectures and seminars on the full-time form of the study, and consultations on the combined form of the study.
Students should attend at least 75% of the seminars in the present form and at least 50%. Students on an individual study plan are not obliged to meet the condition of attendance.
The prerequisite of the study is knowledge the economics at the bachelor's level. The students without such knowledge are advised to learn from the book MACH, P.: Textbook of elementary Economics.
Assessment methods
The course is completed by credit and exam. Getting credit is a prerequisite for registration for the exam.
The student gains credit upon meeting these conditions:
1. Meeting attendance requirements
2. Passing the midterm credit test and the final credit test
with more than half correct answers
Tests are online in the IS
The exam is oral. The examiners will ask students about the key concepts published in the exam topics.
Language of instruction
English
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.
The course is also listed under the following terms Summer 2015, Summer 2016, Summer 2017, Summer 2018, Summer 2019, Summer 2020, Summer 2021, Summer 2022, Summer 2023, Summer 2024.
  • Enrolment Statistics (recent)
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