UCP:EKE13 Macroeconomics - Course Information

EKE13 Macroeconomics

Extent and Intensity

2/2. 5 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Petr Balcar, MSBE (lecturer)

Guaranteed by

Ing. Petr Balcar, MSBE
Katedra ekonomie a ekonomiky – University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

• Hospitality Management (Study in Czech) (programme UCP, BC) (2)

Course objectives

The EKE13-00-MIC course introduces basic economic categories and relationships among them to the students. It explains the most important principles of macroeconomics, economic growth, national and international economics and functioning of the market mechanism. The theory of financial markets, monetary and fiscal policy, inflation, unemployment, international markets, and economic development are also an important part of the course. The students will be using an analytical approach when solving both theoretical and practical problems related to economic processes in microeconomics.

The EKE13-00-MAC course is a theoretical follow-up of the Macroeconomics EK014. These two courses are aimed to be a basis for applied economics in Enterprise economics EKE003.
The follow up course on the master’s level is EKE113 Macroeconomics.

Objectives: Overview of the economic system, functioning of the market mechanism from the aggregate point of view on both national and international levels.

Competence: After passing the course the student should be able to analyze the basic economic processes within the economic system at the national and international economic levels, in particular market situations. This should contribute towards his social competences.

Skills: Passing the course should help the student feel comfortable in the real economic world at the level of national and international economics and the student should upon passing be able to solve basic economic tasks. This skill should be a basis for successful performance in the management positions at operational or middle management levels. The ability to analyze and evaluate the behavior of the entities under the existing macroeconomic conditions is the key of the course. After the relevant course seminars the student should be able to contribute to discussing theoretical problems and their application in the real economic life.

Syllabus

• 1. Macroeconomics: The Big Picture a. Growth of Real GDP and Business Cycles b. Price-Level Changes c. Unemployment d. Review and Practice
  
• 2. Measuring Total Output and Income a. Measuring Total Output b. Measuring Total Income c. GDP and Economic Well-Being d. Review and Practice
  
• 3. Aggregate Demand and Aggregate Supply a. Aggregate Demand b. Aggregate Demand and Aggregate Supply: The Long Run and the Short Run c. Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium d. Review and Practice
  
• 4. Economic Growth a. The Significance of Economic Growth b. Growth and the Long-Run Aggregate Supply Curve c. Determinants of Economic Growth d. Review and Practice
  
• 5. The Nature and Creation of Money a. What Is Money? b. The Banking System and Money Creation c. The Federal Reserve System, ČNB d. Review and Practice
  
• 6. Financial Markets and the Economy a. The Bond and Foreign Exchange Markets b. Demand, Supply, and Equilibrium in the Money Market c. Review and Practice
  
• 7. Monetary Policy and the Central Bank a. Monetary Policy principles b. Problems and Controversies of Monetary Policy c. Monetary Policy and the Equation of Exchange d. Review and Practice
  
• 8. Government and Fiscal Policy a. Government and the Economy b. The Use of Fiscal Policy to Stabilize the Economy c. Issues in Fiscal Policy d. Review and Practice
  
• 9. Consumption and the Aggregate Expenditures Model a. Determining the Level of Consumption b. The Aggregate Expenditures Model c. Aggregate Expenditures and Aggregate Demand d. Review and Practice
  
• 10. Investment and Economic Activity a. The Role and Nature of Investment b. Determinants of Investment c. Investment and the Economy d. Review and Practice
  
• 11. Net Exports and International Finance a. The International Sector: An Introduction b. International Finance c. Exchange Rate Systems d. Review and Practice
  
• 12. Inflation and Unemployment a. Relating Inflation and Unemployment b. Explaining Inflation–Unemployment Relationships c. Inflation and Unemployment in the Long Run d. Review and Practice
  
• 13. A Brief History of Macroeconomic Thought and Policy a. The Great Depression and Keynesian Economics b. Keynesian Economics in the 1960s and 1970s c. An Emerging Consensus: Macroeconomics for the Twenty-First Century d. Review and Practice
  
• 14. Economic Development a. The Nature and Challenge of Economic Development b. Population Growth and Economic Development c. Keys to Economic Development d. Review and Practice
  

Literature

required literature
• • Libby Rittenberg and Timothy Tregarthen, Principles of Macroeconomics, 2009, ISBN 13: 978-1-4533-3282-5 http://catalog.flatworldknowledge.com/bookhub/reader/5534

recommended literature
• • Vlček, Josef. Ekonomie a ekonomika. 2009. vyd. Praha: Wolters Kluwer, 2009. ISBN 978-80-7357-478-9. info
• • Samuelson, Paul A. - Nordhaus, William D. Economics. 2007. vyd. Praha: NS Svoboda, 2007. ISBN 978-80-205-0590-3. info
• • Mankiw, Gregory N. Principles of economics. 1999. vyd. Praha: Grada Publishing, 1999. ISBN 80-7169-891-1. info
• • Frank, H. R. - Bernanke, B. S. Ekonomie. 2002. vyd. Praha: Grada Publishing, 2002. ISBN 80-247-0471-4

Teaching methods

Course content: Presence study / Combined study (hours) Lectures - 26/15 Seminars - 26/0 Individual study - 78/115 Total - 130/130
Requirement for passing: Presence study / Combined study (weight in %) Written tests - 0/80 Oral exam - 100/20 Total - 100/100
Special conditions and details - min. 80% presence in seminars (pres.)

Language of instruction

English

Further comments (probably available only in Czech)

The course can also be completed outside the examination period.

• Enrolment Statistics (Summer 2012, recent)
  
• Permalink: https://is.ucp.cz/course/ucp/summer2012/EKE13