Neo-classical Macroeconomics - JEM023

• Title: Neo-classical Macroeconomics
• Guaranteed by: Institute of Economic Studies (23-IES)
• Faculty: Faculty of Social Sciences
• Actual: from 2007
• Semester: winter
• E-Credits: 6
• Examination process: winter s.:
• Hours per week, examination: winter s.:0/4, Ex [HT]
• Capacity: unknown / unknown (unknown)
• Min. number of students: unlimited
• 4EU+: no
• Virtual mobility / capacity: no
• State of the course: cancelled
• Language: English
• Teaching methods: full-time
• Teaching methods: full-time
• Note: priority enrollment if the course is part of the study plan
• Guarantor: prof. Ing. Milan Sojka, CSc.
• Co-requisite : JEM021

Annotation

English

Last update: RNDr. Luděk Sojka, Ph.D. (02.10.2006)

The aim of the course is to enhance understanding of development of the neoclassical macroeconomics since the times of its founding fathers until present on the bases of discussions of original papers and chapters of the most important books.

Students are required to write an essay of about 15 pages. This essay is the bases for evaluation of student`s achievements during the course (80 % of evaluation). Remaining 20 % are based on activity during the course (participation in discussions.

Czech

Last update: RNDr. Luděk Sojka, Ph.D. (02.10.2006)

Předmět podává seminární formou přehled o vzniku a vývoji soudobé neoklasické makroekonomie od jejích počátků v dílech hlavních představitelů předkeynesovské neoklasické ekonomie až do jejích současných podob.

Student vypracuje cca 15 stránkovou esej. Na základě této eseje (80 % hodnocení) a s přihlédnutím k aktivitě studenta v průběhu kursu (20 % hodnocení) je stanovena konečná známka.

Literature

Last update: RNDr. Luděk Sojka, Ph.D. (02.10.2006)

R. Backhouse: A History of Modern Economic Analysis. Oxford, Basil Blackwell 1985

Sh. Dow: Macroeconomic Thought. A Methodological Approach. Oxford, OUP 1985

Selected articles from economic journals and selected book readings.

Syllabus

English

Last update: RNDr. Luděk Sojka, Ph.D. (02.10.2006)

I. Quantity theory of Money in the Neoclassical tradition before Keynes

1. Irving Fisher

2. Alfred Marshall and the Cambridge tradition

3. Knut Wicksell

II. Neoclassical Renaissance

4. Don Patinkin and the theory of the real money balances

5. Lloyd Metzler: interest induced effect

6. Milton Friedman: revival of the quantity theory of money

7. Milton Friedman: the natural rate of unemployment

8. Karl Brunner, A Meltzer - taking fiscal policy in account

III. New Classical Macroeconomics

9. John Muth: the rational expectation hypothesis

10. J. R. Lucas: Understanding Business Cycles

11. Th. Sargent, N. Wallace: economic policy ineffectiveness hytothesis

12. F. Kydland, E. Prescott: real business cycles theory