Solow (1956) A Contribution to the Theory of Economic Growth
Nino Buliskeria, Ph.D.
Anotace -
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Feel free to contact Martin Janíčko at janicko@mnd.cz or Anna Drahozalová at Andulka.Drahozalova@gmail.com if you have any questions.
MIDTERM: The midterm exam will be held on Monday, November 11, at 6:30 pm in room O109 (the same room in which the lectures are held). No need to register but please bring your ID card with you.
The content of the exam will include the first six lectures and five seminars and the exam itself should last approximately 60 minutes. There will be only one term.
For those who are unable to attend for medical reasons and who provide a doctor's note to prove it, the weight of the final exam will be adjusted accordingly (to 90 per cent of the total).
This course offers an in-depth exploration of macroeconomic theory and its application to contemporary macroeconomic issues. Structured around key macroeconomic questions, the course seeks to provide students with a robust understanding of the forces shaping national and global economies. Key topics include:
• Economic Divergence: Why do significant disparities in wealth persist across countries? What drives economic growth in some nations while others remain trapped in poverty?
• Business Cycles: What are the underlying causes of economic fluctuations, and why do recessions occur? How do economic shocks propagate through the system?
• Labor Market Dynamics: Why is unemployment persistent in certain economies, and what factors prevent full employment? How do wages and labor market policies affect employment levels?
• Inflation: What are the root causes of inflation? How should inflation be managed, and what are the trade-offs between inflation control and other macroeconomic objectives?
• Open Economy Macroeconomics: How do international trade, capital flows, and exchange rates influence a country’s macroeconomic performance? What are the effects of global interconnectedness on domestic economic policies and outcomes?
• Policy Intervention: To what extent can policymakers influence macroeconomic outcomes? What tools are available, and how effective are they in stabilizing economies?
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (14.10.2024)
***********************************************************************************************************************************************************************
Feel free to contact Martin Janíčko at janicko@mnd.cz or Anna Drahozalová at Andulka.Drahozalova@gmail.com if you have any questions.
MIDTERM: The midterm exam will be held on Monday, November 11, at 6:30 pm in room O109 (the same room in which the lectures are held). No need to register but please bring your ID card with you.
The content of the exam will include the first six lectures and five seminars and the exam itself should last approximately 60 minutes. There will be only one term.
For those who are unable to attend for medical reasons and who provide a doctor's note to prove it, the weight of the final exam will be adjusted accordingly (to 90 per cent of the total).
This course offers an in-depth exploration of macroeconomic theory and its application to contemporary macroeconomic issues. Structured around key macroeconomic questions, the course seeks to provide students with a robust understanding of the forces shaping national and global economies. Key topics include:
• Economic Divergence: Why do significant disparities in wealth persist across countries? What drives economic growth in some nations while others remain trapped in poverty?
• Business Cycles: What are the underlying causes of economic fluctuations, and why do recessions occur? How do economic shocks propagate through the system?
• Labor Market Dynamics: Why is unemployment persistent in certain economies, and what factors prevent full employment? How do wages and labor market policies affect employment levels?
• Inflation: What are the root causes of inflation? How should inflation be managed, and what are the trade-offs between inflation control and other macroeconomic objectives?
• Open Economy Macroeconomics: How do international trade, capital flows, and exchange rates influence a country’s macroeconomic performance? What are the effects of global interconnectedness on domestic economic policies and outcomes?
• Policy Intervention: To what extent can policymakers influence macroeconomic outcomes? What tools are available, and how effective are they in stabilizing economies?
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (14.10.2024)
Cíl předmětu -
Students will dive into the core concepts of macroeconomics, gaining the knowledge and tools needed to explore and discuss crucial topics that shape economies. From understanding the forces driving inflation to uncovering the secrets behind economic growth and addressing external imbalances, this course will empower students to analyze and engage with the key challenges facing modern economies.
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
Students will dive into the core concepts of macroeconomics, gaining the knowledge and tools needed to explore and discuss crucial topics that shape economies. From understanding the forces driving inflation to uncovering the secrets behind economic growth and addressing external imbalances, this course will empower students to analyze and engage with the key challenges facing modern economies.
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
Podmínky zakončení předmětu -
50% of the grade: Final exam
40% of the grade: Midterm exam
10% of the grade: Problem sets
Pass: 51% of total points AND 50% of the final exam AND submission of at least three problem sets
Grading:
91-100% => A
81-90% => B
71-80% => C
61-70% => D
51-60% => E
0-50% => F
################### FINAL EXAM ######################
The final exam will take place in the exam period.
#################################################
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (17.10.2024)
50% of the grade: Final exam
40% of the grade: Midterm exam
10% of the grade: Problem sets
Pass: 51% of total points AND 50% of the final exam AND submission of at least three problem sets
Grading:
91-100% => A
81-90% => B
71-80% => C
61-70% => D
51-60% => E
0-50% => F
################### FINAL EXAM ######################
The final exam will take place in the exam period.
#################################################
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (17.10.2024)
Dornbusch, R., Fischer, S., & Startz, R. (2011). Macroeconomics (11th Edition). The McGraw-Hill Companies.
Supplementary:
Blanchard, O. (2021). Macroeconomics (8th Edition). Global Edition.
Papers (optional):
Solow, Robert. M. (1956). A contribution to the theory of economic growth. Quarterly Journal of Economics, 70(1), 65-94. Doi.org/10.2307/1884513.
Taylor, John B. (1993). Discretion versus policy rules in practice. Carnegie-Rochester Conference Series on Public Policy, 39, 195-214. Doi.org/10.1016/0167-2231(93)90009-L.
Rogoff, Kenneth. (2017). Dealing with monetary paralysis at the zero bound. Journal of Economic Perspectives, 31(3), 47-66. Doi.org/10.1257/jep.31.3.47.
DeLong, J. Bradford, & Summers, Lawrence H. (2012). Fiscal policy in a depressed economy. Brookings Papers on Economic Activity, 44(1), 233-297. Doi.org/10.1353/eca.2012.0010
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (26.09.2024)
Dornbusch, R., Fischer, S., & Startz, R. (2011). Macroeconomics (11th Edition). The McGraw-Hill Companies.
Supplementary:
Blanchard, O. (2021). Macroeconomics (8th Edition). Global Edition.
Papers (optional):
Solow, Robert. M. (1956). A contribution to the theory of economic growth. Quarterly Journal of Economics, 70(1), 65-94. Doi.org/10.2307/1884513.
Taylor, John B. (1993). Discretion versus policy rules in practice. Carnegie-Rochester Conference Series on Public Policy, 39, 195-214. Doi.org/10.1016/0167-2231(93)90009-L.
Rogoff, Kenneth. (2017). Dealing with monetary paralysis at the zero bound. Journal of Economic Perspectives, 31(3), 47-66. Doi.org/10.1257/jep.31.3.47.
DeLong, J. Bradford, & Summers, Lawrence H. (2012). Fiscal policy in a depressed economy. Brookings Papers on Economic Activity, 44(1), 233-297. Doi.org/10.1353/eca.2012.0010
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (26.09.2024)
Metody výuky -
The lecture is accompanied by the seminars.
Lecture - Occurs every Thursday, 17:00 -18:20 (Room O109; Martin Janíčko and Kamil Kovář)
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
Požadavky ke zkoušce -
50% of the grade: Final exam
40% of the grade: Midterm exam
10% of the grade: Problem sets
Pass: 51% of total points AND 50% of the final exam AND submission of at least three problem sets.
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
50% of the grade: Final exam
40% of the grade: Midterm exam
10% of the grade: Problem sets
Pass: 51% of total points AND 50% of the final exam AND submission of at least three problem sets.
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
Sylabus -
Academic year 2024-2025:
The first lecture of the first week takes place on October 3 (Thursday) at 5 pm (17:00).
1) The Science of Macroeconomics, Macro Data [Chapters 1 and 2]
2) National Income - Where It Comes From Where It Goes [Chapter 3]
3) Money and Inflation [Chapter 4]
4) Money and Banking System [Chapter 19]
5) Open Economy - Balance of Payments, Saving and Investment in Small Open Economy, Net Exports; Exchange Rate - Real and Nominal, Power Parity Purchase, Fixed Exchange Rate Regime [Chapter 5]
6) Unemployment - Labor Demand, Labor Loss, Job Finding, Natural Rate of Unemployment, Types of Unemployment [Chapter 6]
7) Economic Growth I - Solow Model, Capital Accumulation, Golden Rule of Capital, Population Growth [Chapters 7 and 8]
8) Economic Growth I - Solow Model, Capital Accumulation, Golden Rule of Capital, Population Growth [Chapters 7 and 8]
9) Economic Growth II - Progress in Solow Model, Policy to Promote Growth, Balanced Growth Path [Chapters 7 and 8]
10) Endogenous Growth Theory, Growth Accounting [Chapters 7 and 8]
11) Government Debt and Budget Deficits [Chapter 16]
12) Final exam
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (01.10.2024)
Academic year 2024-2025:
The first lecture of the first week takes place on October 3 (Thursday) at 5 pm (17:00).
1) The Science of Macroeconomics, Macro Data [Chapters 1 and 2]
2) National Income - Where It Comes From Where It Goes [Chapter 3]
3) Money and Inflation [Chapter 4]
4) Money and Banking System [Chapter 19]
5) Open Economy - Balance of Payments, Saving and Investment in Small Open Economy, Net Exports; Exchange Rate - Real and Nominal, Power Parity Purchase, Fixed Exchange Rate Regime [Chapter 5]
6) Unemployment - Labor Demand, Labor Loss, Job Finding, Natural Rate of Unemployment, Types of Unemployment [Chapter 6]
7) Economic Growth I - Solow Model, Capital Accumulation, Golden Rule of Capital, Population Growth [Chapters 7 and 8]
8) Economic Growth I - Solow Model, Capital Accumulation, Golden Rule of Capital, Population Growth [Chapters 7 and 8]
9) Economic Growth II - Progress in Solow Model, Policy to Promote Growth, Balanced Growth Path [Chapters 7 and 8]
10) Endogenous Growth Theory, Growth Accounting [Chapters 7 and 8]
11) Government Debt and Budget Deficits [Chapter 16]
12) Final exam
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (01.10.2024)
Požadavky k zápisu -
The students can choose from two courses:
1) This course, which is offered in English
2) Makroekonomie I, which is taught by Dr. Hlaváček in Czech.
Obviously, students who do not speak Czech should enrol in our course and students who speak Czech are free to choose which course they want to take. Please note, however, that students must decide within the first two weeks of the semester and enroll in SIS. Once they have chosen either the English or the Czech version of the course, they are advised to stick to their choice in the following semester.
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
The students can choose from two courses:
1) This course, which is offered in English
2) Makroekonomie I, which is taught by Dr. Hlaváček in Czech.
Obviously, students who do not speak Czech should enrol in our course and students who speak Czech are free to choose which course they want to take. Please note, however, that students must decide within the first two weeks of the semester and enroll in SIS. Once they have chosen either the English or the Czech version of the course, they are advised to stick to their choice in the following semester.
Poslední úprava: Janíčko Martin, PhDr. Ing., Ph.D. (25.09.2024)
