Applied macroeconomics

  • Credits: 3
  • Ending: Examination
  • Range: 2C
  • Semester: summer
  • Year: 2
  • Faculty of Economics and Finance

Teachers

Included in study programs

Applied Economics

Teaching results

Teaching results:
The course is aimed to extend knowledge of macroeconomics and the application of macroeconomics to specific cases in the form of case studies or analysis of macroeconomic data based on the economic development in a particular case. The content of the course is to expand knowledge in the field of economic growth theories, consumption theories, unemployment, inflation, money market and monetary policy as well as fiscal policy and public debt analysis. Emphasis will be placed on the use of graphical solutions as well as on the use of mathematical apparatus in the analysis of economic situations/cases, the impact of changes in selected macroeconomic variables on other economic variables in model cases and the determination of arisen equilibrium. Also, students will be able to assess or to formulate justification for the measures taken in addressing selected macroeconomic situations/cases as well as to propose other measures to solve these situations/cases; and determine impacts of their solutions on other macroeconomic variables.
Knowledge:
- knowledge from different fields of macroeconomics and its relation to particular case studies and solutions
- gaining of knowledge from existing solutions of macroeconomics problems
- gaining of knowledge of the macroeconomics problems by the review of case studies related to content of the course
Skills:
- use different methods of economic research to solve the macroeconomics problems
- be able to assess the appropriateness of methods used, their application and suggest changes and modifications in research methods used in particular case studies
- use of suitable graphical solutions and apparatus for the explanation of the macroeconomic problems
Competences:
ability to assess macroeconomic situations, including impacts on other macroeconomic variables
ability to take measures or suggest alternative ways for solution of macroeconomic situations or problems
assess and demonstrate advantages and disadvantages of various solutions of macroeconomic problems or situation

Indicative content

Indicative content:
The course incudes themes that will be part of the seminar for one or for two week in case of more difficult and more complex topics.
Economic growth of the country, its determinants, differences in economic growth of countries. Application of economic growth theories to specific countries and determination of determinants of economic growth of a selected country.
Determinants of consumption and solving issues of regulation of household consumption by economic policy measures (e.g. measures to support household consumption).
Application of efficiency wage theory to relevant examples.
Application of Okun's law to a specific country. Evaluation of its validity.
Assessment of the Phillips curve and its validity in the selected country.
Analysis of the behavior of central banks in resolving financial crises and debt crises.
Evaluation and assessment of measures taken by central banks and data analysis of the results of taken measures.
Analysis of public debt of a selected country and its structure.
Assessing the sustainability of the country's debt and evaluating instruments to reduce public debt.

Support literature

Support literature:
Compulsory reading:
1. Romer, D. (2012). Advanced Macroeconomics. 4th ed. McGraw-Hill/Irwin.
2. Hoover K.D. (2012). Applied Intermediate Macroeconomics. Cambridge University Press.
3. Lisý, J. a kolektív. (2011). Ekonomický rast a ekonomický cyklus. Teoretické a praktické problémy. Bratislava: Iura Edition.
4. Dujava, D. – Lisý, J. – Přívarová, M. (2013). Makroekonomická rovnováha a nerovnováha: teoretické a praktické problémy. Bratislava: Iura Edition, člen skupiny Wolters Kluwer.
Suggested reading:
1. Yanushevsky, R. – Yanushevsky, C. (2018). Applied Macroeconomics for Public Policy 1st Edition. Academic Press.
2. Mankiw, G. N. (2019). Macroeconomics, 10th International Edition, MacMillan Publishers.
3. Dornbusch, R. – Fischer, S. – Startz, R. (2013). Macroeconomics. 13th ed. McGraw-Hill.
4. Burda, M. – Wyplosz, Ch. (2017). Macroeconomics. A European Text. 7th Edition. Oxford University Press.

Requirements to complete the course

Requirements to complete the course:
individual work, written work, continuous tests, written final exam:
- elaboration of assignments, tasks and activity at seminars 15 %
- elaboration and presentation of a case study 15 %
- elaboration and presentation of data 10 %
- result of the final written exam (case study, data analysis, application of theoretical knowledge, etc.) 60 %

Date of approval: 11.03.2024

Date of the latest change: 09.04.2021