Subject: Macroeconomics I

 

Aims of the subject:

Students should be able to understand fundamental macroeconomic concepts. They will obtain a general overview on macroeconomic problems in Czech and world economies. It enables them to analyse and forecast macroeconomic environment changes as an important external factor. It could be both an opportunity and threat for further development of a firm.

 

Subject matter:

1. Introduction to macroeconomics

2. Macroeconomic product and income

3. Aggregate expenditures and product

4. Money

5. Aggregate demand and aggregate supply

6. Business cycles and economic growth

7. Unemployment

8. Inflation

9. Exchange rate

10. Balance of payments, foreign debt

11. Monetary policy

12. Fiscal policy

13. International trade and trade policy

 

Indicative references:

Hájek, L.: Economics – An Overview of Basic Concepts and Problems. Hradec Králové, Gaudeamus 2000

Samuelson, P. A. - Nordhaus, W. D.: Economics. 13th – 18th editions, New York, McGraw-Hill 1989, 1992, 1995, 1998, 2001, 2004

 

Further reading:

Abel, A. B., Bernanke, B. S.: Macroeconomics. 5th edition, Pearson Addison-Wesley 2004

Abel, A. B., Bernanke, B. S., Croushore, D.: Study Guide to Accompany Macroeconomics. 5th edition, Pearson Addison-Wesley 2005

Mankiw, N. G.: Principles of Economics. 3rd edition, South-West College 2003

Blanchard, O.: Macroeconomics. Upper Saddle River, Prentice Hall 2000, 2nd ed.

 

Economic journals:

Economist: http://www.economist.com/index.html

Czech Journal of Economics and Finance: http://www.financeauver.org/

Prague Economic Papers: http://www.vse.cz/pep/

 

Internet sources:

Czech Government: http://www.vlada.cz/

Czech National Bank: http://www.cnb.cz

Czech Statistical Office: http://www.czso.cz/

European Union: http://www.europa.eu.int

OECD: http://www.oecd.org