B_EK_2 Economics 2

University of Finance and Administration
Summer 2026
Extent and Intensity
2/1/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Tomáš Kremr, Ph.D., LL.M. (seminar tutor)
Ing. Hana Lipovská, Ph.D. (seminar tutor)
doc. Radim Valenčík, CSc. (seminar tutor)
Guaranteed by
Ing. Petr Mach, Ph.D.
Department of Economics and Management – Departments – University of Finance and Administration
Contact Person: Mgr. Markéta Koliášová
Timetable of Seminar Groups
B_EK_2/cEKKV: each even Wednesday 14:00–14:44 KV308, each even Wednesday 14:45–15:30 KV308, H. Lipovská
B_EK_2/cFPPPH: each odd Tuesday 15:45–16:29 E007KC, each odd Tuesday 16:30–17:15 E007KC, T. Kremr
B_EK_2/cMMO: each even Wednesday 14:00–14:44 M14, each even Wednesday 14:45–15:30 M14, except Wed 15. 4. ; and Thu 16. 4. 14:00–15:30 M14, T. Kremr
B_EK_2/cMPH: each odd Thursday 14:00–14:44 E230, each odd Thursday 14:45–15:30 E230, T. Kremr
B_EK_2/c1EKPH: each even Tuesday 15:45–16:29 E306, each even Tuesday 16:30–17:15 E306, T. Kremr
B_EK_2/c2EKPH: each odd Thursday 12:15–12:59 E306, each odd Thursday 13:00–13:45 E306, T. Kremr
B_EK_2/pEKFMPPPH: Tue 10:30–11:14 E007KC, Tue 11:15–12:00 E007KC, T. Kremr
B_EK_2/pEKKV: each even Wednesday 10:30–11:14 KV308, each even Wednesday 11:15–12:00 KV308, each even Wednesday 12:15–12:59 KV308, each even Wednesday 13:00–13:45 KV308, H. Lipovská
B_EK_2/pMMO: each even Wednesday 10:30–11:14 M14, each even Wednesday 11:15–12:00 M14, each even Wednesday 12:15–12:59 M14, each even Wednesday 13:00–13:45 M14, except Wed 15. 4. ; and Thu 16. 4. 10:30–13:45 M14, T. Kremr
B_EK_2/vEKPH: Fri 13. 2. 17:30–19:00 E307, 19:15–20:45 E307, Fri 13. 3. 17:30–19:00 E307, 19:15–20:45 E307, Fri 27. 3. 17:30–19:00 E307, 19:15–20:45 E307, Fri 17. 4. 17:30–19:00 E007KC, 19:15–20:45 E007KC, H. Lipovská
Prerequisites
There are no prerequisites for this course. It is recommended to complete Economics 1 first
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 inflation and the rice level and make basic calculations
- understand economic growth and GDP including the business cycle
- understand the quantity theory of money and make basic calculations
- understand currency markets and exchange rates
- understand the basic ideas of fiscal and monetary policies
Learning outcomes
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
  • Seminars
  • 1. Calculation of the rate of inflation and the real GDP
  • 2. Understanding the process of the multiplication of deposits
  • 3. Calculations of the equation of exchange
  • 4. Keynes’s consumption function
  • 5. Calculations of the Exchange rate
  • 6. Calculations of deficit and the public debt
Literature
    recommended literature
  • 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 seminars in the full-time form or 50% of sessions 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 6th lecture and a final online credit test at the end of the course.
The exam is oral or written.
Language of instruction
Czech
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Teacher's information
Petr Mach, PhD. teaches microeconomics and macroeconomics, Lobbying, and Monetary theory and policy.
The course is also listed under the following terms Summer 2015, Summer 2016, Summer 2017, Summer 2018, Summer 2019, Summer 2024, Summer 2025, Summer 2027.
  • Enrolment Statistics (Summer 2026, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/summer2026/B_EK_2