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Course, academic year 2016/2017
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Intermediate Macroeconomics II - JEM178
Title: Intermediate Macroeconomics II
Czech title: Intermediate Macroeconomics II
Guaranteed by: Institute of Economic Studies (23-IES)
Faculty: Faculty of Social Sciences
Actual: from 2016 to 2017
Semester: summer
E-Credits: 6
Examination process: summer s.:
Hours per week, examination: summer s.:2/2, Ex [HT]
Capacity: unknown / unknown (unknown)
Min. number of students: unlimited
4EU+: no
Virtual mobility / capacity: no
State of the course: taught
Language: English
Teaching methods: full-time
Teaching methods: full-time
Is provided by: JEB115
Note: course can be enrolled in outside the study plan
enabled for web enrollment
priority enrollment if the course is part of the study plan
Guarantor: prof. Roman Horváth, Ph.D.
Ing. Tomáš Lichard, Ph.D.
Mgr. Nikoloz Kudashvili, Ph.D.
Teacher(s): prof. Roman Horváth, Ph.D.
Mgr. Nikoloz Kudashvili, Ph.D.
Mgr. Jan Mareš, Ph.D.
Class: Courses not for incoming students
Examination dates   Schedule   Noticeboard   
Annotation
Last update: prof. Roman Horváth, Ph.D. (23.10.2019)
This is the second part of the Macroeconomics course. At the intermediate level it presents and analyzes questions related to aggregate demand and supply, and short run fluctuations. Its core is the (simplified) IS-LM model. Within the frames of this model this course analyzes the possible drivers of short run fluctuations. It suggests the policy instruments and regimes that can mitigate those fluctuations. The course also provides examples that map theoretical arguments presented in the class to the current processes in the real world.

Upon successful completion of this course, students will be able to better understand the short run functioning of economic systems and discern the possibilities and limits of economic theories. Students will also be able to employ basic quantitative techniques to model aggregate economic phenomena.
Literature
Last update: Julien Pinter, Dr. (05.11.2019)

N. Gregory Mankiw (2015). Macroeconomics (9th Edition). Worth Publishers. 
Student resources are accessible at http://bcs.worthpublishers.com/mankiw7

Partly, we will also cover the update of this textbook that has an ambition to reflect the current global financial crisis:
Ball, L. and N.G. Mankiw (2011) A New Approach to Intermediate Macroeconomics, Worth Publishers.

Other reading may be assigned during the course of the semester.

Syllabus
Last update: Mgr. Nikoloz Kudashvili, Ph.D. (23.02.2021)

_______________________________________________________________________________

February 15 - 19  - no lecture, no seminars. The first lecture will take place on February 23.

Holiday [H]; Rector's day-off [R]; Dean's day-off (D)  in February - May 2021.

1. Friday, April 2, 2021        [H]

2. Friday, April 30, 2021      [D]

3. Monday, April 5, 2021      [H]

4. Wednesday, May 12, 2021   [R]

_______________________________________________________________________

Important dates [TBD]

Midterm 

Final Exam 1

Final Exam 2

Final Exam 3

Final Exam 4

 

Week 1 and 2:
Consumption - Keynesian consumption function; Fisher's model; Life cycle hypothesis; Permanent income hypothesis; Random walk;
Investment - Business fixed investment; Residential investment; Inventory investment.
Chapters 16 and 17 from Mankiw (2013), 17 and 18 from Mankiw (2010); 16 and 17 from Mankiw (2003)

Week 3:
Introduction to economic fluctuations - Aggregate demand and aggregate supply model; 
Chapters 10 from Mankiw (2013), Chapters 9 and 10 from Mankiw (2003, 2010)

Week 4 and 5:
Theory of aggregate demand; IS-LM model ; Aggregate demand II - Explaining fluctuations with IS-LM model; Changes in fiscal policy; Keynesian multiplier and the crowding out effect; Monetary policy in IS-LM model; IS-LM as a theory of aggregate demand.
Chapters 11 and 12 from Mankiw (2013), Chapter 11 from Mankiw (2003, 2010)

Week 6:
Aggregate demand in an open economy - The Mundell-Fleming model (IS*-LM* version); Efficiency of economic policies under floating and fixed exchange rate regimes; 

Chapters 13 from Mankiw (2013), Chapter 11 from Mankiw (2003, 2010)

 

Week 7: mid-term


Week 8:
Aggregate Supply - Sticky wage model; Lucas model; Sticky price model: Phillips curve.
Chapters 14 from Mankiw (2013), Chapters 12 and 13 from Mankiw (2003, 2010)

Week 9:
A dynamic model of aggregate demand and aggregate supply
Chapters 15 from Mankiw (2013), Chapter 14 from Mankiw (2010); [partly covered in Chapter 19 from Mankiw (2003)]

Week 10:
Stabilization policy.
Chapters 18 from Mankiw (2013), Chapter 15 from Mankiw (2010); Chapter 14 from Mankiw (2003) ; lecture slides

Week 11:
Government debt. Ricardian Equivalence. Effect of government debt and deficits on growth.
Chapters 19 from Mankiw (2013), Chapter 16 from Mankiw (2010) ; lecture slides

 

 

 

Lectures: Tuesday 18:30-19:50

Seminars: Groups 1 & 2

[Group 1] Wednesday     08:00-09:20

[Group 2] Thursday         17:00-18:20 

 

Lecture 1  - February 23    

Seminar 1 - February 24    [Group 1]

Seminar 1 - February 25    [Group 2]

 

Lecture 2  - March 2

Seminar 2 - March 3         [Group 1]

Seminar 2 - March 4         [Group 2]

 

Lecture 3   - March 9

Seminar 3 - March 10       [Group 1]

Seminar 3 - March 11       [Group 2]

 

Lecture 4  - March 16

Seminar 4 - March 17       [Group 1]

Seminar 4 - March 18       [Group 2]

 

Lecture 5  - March 23

Seminar 5 - March 24       [Group 1]

Seminar 5 - March 25       [Group 2] 

 

Lecture 6  - March 30

Seminar 6 - March 31       [Group 1]

Seminar 6 - April 1           [Group 2]

 

Lecture 7  - April 6

Seminar 7 - April 7           [Group 1]

Seminar 7 - April 8           [Group 2]

 

Lecture 8  -  April 13

Seminar 8 - April 14          [Group 1]

Seminar 8 - April 15          [Group 2]

 

Lecture 9  - April 20

Seminar 9 - April 21          [Group 1]

Seminar 9 - April 22          [Group 2]

 

Lecture 10  - April 27

Seminar 10 - April 28         [Group 1]

Seminar 10 - April 29         [Group 2]

 

Lecture 11 -  May 4

Seminar 11 - May 5            [Group 1]

Seminar 11 - May 6            [Group 2]

 

 
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