MA2 FBM BUT makP Acad. year 2018/2019 Winter semester 6 credits
Language of instruction
Rozmahel Petr, Doc. Ing., Ph.D. (FBM BUT)
Kučerová Vladimíra, Ing., Ph.D. (IE FBM BUT)
Pernica Martin, Ing., Ph.D. (IF FBM BUT)
Poláček Tomáš, Ing. (IE FBM BUT)
Subject specific learning outcomes and competences
Prerequisite kwnowledge and skills
Syllabus of lectures
- Mainstream of the economics theory.
- The theory of money and the money market, the quantity theory of money, the theory of neutrality of money.
- Unconventional instruments of monetary policy, quantitative easing.
- The theory of interest, savings, consumption, investment and investment multiplier.
- Market for loanable funds in a closed and an open economy.
- The theory of international trade, balance of payment, external balance of state and exchange rate mechanism.
- Net export function, Marshall-Lerner condition.
- Models of economic equilibrium, general markets equilibrium, model IS-LM for a small closed economy.
- Changes in the IS-LM model, complete Keynesian model.
- Mundell-Fleming model, IS-LM (IS-LM-BP) in a small open economy.
- The theory of business cycles, real and monetary cycles, economic growth and the models of economic growth (Solow's Growth Model, Cobb-Douglas Production Function, Endogenous Growth Theory).
- The balance of the labour market, the natural rate of unemployment, Phillips curve theories, human capital theory.
- Economic policy and economic policy failures, economy in speaking to political issues and sociological issues.
Syllabus of numerical exercises
- Introduction to the course, repeating the elementary macroeconomic knowledge.
- Quantity theory of money, transmission mechanism.
- Market for loanable funds.
- External equilibrum state, net exports and imports of capital, exchange rates.
- Model Keynesian cross and IS curve design.
- LM curve and IS-LM model for a small open a small closed economy.
The minimum attendance is 6 seminars.
The scale of the resulting classification:
(student may gain from exercise 30 points and max.70 points of the final exam, a total of 100 points for the subject)
A: 90-100 points
B: 80-89 points
C: 70-79 points
D: 60-69 points
E: 50-59 points
F: less than 50 points.
Course inclusion in study plans