Course: Macroeconomics II

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Course title Macroeconomics II
Course code KEK/MA2PE
Organizational form of instruction Lecture + Lesson
Level of course Master
Year of study not specified
Semester Winter and summer
Number of ECTS credits 5
Language of instruction Czech
Status of course Compulsory, Compulsory-optional
Form of instruction Face-to-face
Work placements Course does not contain work placement
Recommended optional programme components None
  • Laboutková Šárka, doc. Ing. Ph.D.
  • Skála Marek, Ing. Mgr. Ph.D.
  • Blaschke Kotíková Sylvie, Ing. Ph.D.
  • Nedomlelová Iva, Ing. Ph.D.
Course content
Lectures: 1. Economic theories and models. Classical theory: general classical model. Money markets in the classic sense. Classical AD. 2. Keynesian theory: effective demand, consumption and investment. Keynes's theory of consumption in comparison with other selected approaches to consumption: model of intertemporal choice, life cycle theory and the theory of permanent income. Income - expenditure model. Liquidity preference theory. Determination of equilibrium production in the IS-LM model in closed and open economy. 3. The model IS-LM. Fiscal and monetary policy. 4. AD-AS model. Total Keynesian model - neoclassical synthesis. Past investments and liquidity trap. 5. Expectations in economics. Basic models of aggregate supply (models of the business cycle): monetarism, new classical theory, the new Keynesian theory. 6. Governmental sector and the state budget, curve BS and ways to cover budget deficits, public debt. 7. monetary policy regime, the concept of trinity unattainable, inflation targeting, quantitative easing. 8. Effects of fiscal and monetary policy in the AD-AS. 9. Open economy. Exchange rate - nominal and real. Balance of payments. Determination of the exchange rate. 10. The model IS-LM-BP. Mundell-Fleming model, fiscal and monetary policy. 11. Labour market and unemployment. Phillips curve and aggregate supply. Inflation 12. Supply and demand inflation. Curves SP and DG. Methods of inflation cure. 13. Economic growth. Selected theories of economic growth.

Learning activities and teaching methods
Monological explanation (lecture, presentation,briefing)
  • Class attendance - 56 hours per semester
Learning outcomes
The subject Macroeconomics II is shaped for engineer study programme. The course is focused on extending theoretical knowledge learnt at the bachelor course, at introducing the economic theories of most important macroeconomic schools, and at development of macroeconomic intellection.
Students obtain knowledge in given course in accordance with requirements and course programme.
Precondition: students have to pass succesfully courses of Macroeconomics I and/or Microeconomics I.

Assessment methods and criteria
Combined examination

Classified credit: Full-time study:Total of 18 points from five mini-tests (10 points) and final test (20 points). Possibility of one corrective test: test - gain of at least 18 points out of 30 (points from mini-tests are no longer included in the point gain). Classification of credit (percentage): 100 - 92 excellent A 91 - 85 excellent minus B 84 - 76 very good C 75 - 68 very good D 67 - 60 good E less failed
Recommended literature
  • CAHLÍK, T., M. HLAVÁČEK a J. SEIDLER. Makroekonomie. Karolinum. Praha, 2010. ISBN 978-80-246-1906-4.
  • GÄRTNER, M. Macroeconomics. Pearson Education. Harlow, 2016. ISBN 978-1-292-11520-7.
  • HORSKÁ, H. Moderní makroekonomie pro manažery II: pro kombinovanou formu studia. Škoda Auto Vysoká škola. Mladá Boleslav, 2011. ISBN 978-80-87042-39-7.
  • MACH, M. Makroekonomie II: pro magisterské (inženýrské) studium. 1. a 2. část. Melandrium. Slaný, 2001. ISBN 80-86175-18-9.
  • MANKIW, N. G. a M. P. TAYLOR. Macroeconomics. Cengage Learning EMEA. Andover, 2017. ISBN 978-1-4737-2536-2.
  • ROMER, D. Advanced Macroeconomics. McGraw-Hill Irwin. New York, 2006. ISBN 0-07-287730-8.
  • SOJKA, M. Dějiny ekonomických teorií. Praha, 2010. ISBN 978-80-87109-21-2.
  • SOUKUP, J., et al. Makroekonomie. Praha, 2018. ISBN 978-80-7261-537-7.

Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester