The course focuses on macro-level economic phenomena. Students will deepen their economic knowledge, exploring the questions of economic growth, development, and the interplay between economic factors, institutions, and social reality. The course covers concepts such as national income accounting, macroeconomic aggregates, fiscal and monetary policies, and open economy. The students will master foundational macroeconomic concepts and examine basic macroeconomic problems, appreciating how economic factors mesh with political and other considerations to shape society. By the end of the course, students should be equipped with the tools and frameworks necessary for an elementary understanding of macroeconomic phenomena.
Poslední úprava: Špecián Petr, Ing., Ph.D. (12.08.2025)
Cíl předmětu - angličtina
By the end of this course, students will be able to:
Understand the fundamental concepts of macroeconomics, including national income accounting, economic growth, unemployment, inflation, and the role of fiscal and monetary policies in stabilizing the economy.
Grasp the interconnections between microeconomic foundations and macroeconomic phenomena, with a focus on the role of institutions and organizations in shaping economic outcomes.
Evaluate the strengths and limitations of key economic indicators, such as GDP, and explore alternative measures of well-being and progress.
Gain basic orientation in the causes and consequences of economic growth and grasp the challenges and opportunities of globalization and economic integration.
Apply elementary macroeconomic reasoning to real-world issues and policy debates, while also considering the philosophical and political dimensions of economic questions.
Poslední úprava: Špecián Petr, Ing., Ph.D. (01.08.2025)
Podmínky zakončení předmětu - angličtina
Midterm Test (30%): A combination of multiple choice, analytical problem-solving questions and essay questions.
Final Written Exam (40%): A combination of multiple choice, analytical problem-solving questions and essay questions
Seminar Participation (10%): Active contribution to seminar discussions, successful participation in seminar quizzes.
Seminar Policy Debate and Reflection (20%): Students will participate in a team debate on policy issues and write short reflection papers, demonstrating their ability to apply macroeconomic concepts and tools to analyze real-world problems and evaluate policy trade-offs.
Poslední úprava: Špecián Petr, Ing., Ph.D. (12.08.2025)
Literatura - angličtina
The course is largely textbook-agnostic. Any renowned introductory macroeconomics textbook will do.
Poslední úprava: Špecián Petr, Ing., Ph.D. (01.08.2025)
Metody výuky - angličtina
AI Use Policy for This Course
Student Use of AI: You are encouraged to use AI tools as a supplemental resource to help you master macroeconomic concepts. Permitted uses include explaining theories (e.g., "Explain the Phillips Curve in simple terms"), brainstorming arguments for the policy debate, and proofreading your written reflection.
Use Limitations:
Using AI to generate answers to analytical problems or essay questions on the Midterm Test or Final Exam is strictly prohibited and constitutes academic misconduct.
For the Seminar Policy Debate and Reflection, you may use AI for research and preparation. However, the arguments you make in the debate and the analysis in your written reflection must be your own. AI cannot write the reflection for you.
Transparency Requirement: Your submitted Reflection Paper must include a short statement detailing which AI tools, if any, were used and for what purpose.
Instructor's Use of AI and Student Rights
For Teaching and Feedback: The instructor may use AI tools to prepare teaching materials and to provide feedback on student work.
Commitment to Academic Integrity and Privacy: Any use of AI by the instructor will be to supplement, not replace, personal evaluation. Student submissions will not be used to train AI models, and personal data will be protected at all times.
Students' Opt-Out Right: Students have the right to express their disagreement with their work being processed by AI tools for assessment or feedback. If you wish to exercise this right, you must notify the course instructor: either via an email sent before your submission, or as a disclaimer clearly visible in your written assignment. This request will be fully respected, and your work will be assessed manually without penalty. All other course requirements and evaluation standards remain identical for all students.
Poslední úprava: Špecián Petr, Ing., Ph.D. (22.09.2025)
Sylabus - angličtina
Week 1: The Macroeconomic Perspective
Macroeconomic aggregates
GDP: measurement approaches
GDP: limitations
Real vs nominal variables
Week 2: Loans, Banking & Financial Markets
Interest rates and credit markets
Financial intermediation
Week 3: Modern Monetary System
Functions and types of money
Central banking
Money creation process
Money multiplier
Week 4: Inflation
Measuring inflation
Causes and types of inflation
Quantity theory of money
Social costs of inflation
Week 5: Labor Markets & Unemployment
Labor force concepts
Types of unemployment
Inflation-unemployment tradeoff & the Phillips Curve
Week 6: Economic Growth I: Facts & Framework
Measuring growth
Sources of growth
Capital accumulation
Role of technology
Week 7: Economic Growth II: Development & Institutions
Productivity and living standards
Role of institutions
Development challenges
Week 8: Short-Run Fluctuations
Business cycles
Aggregate demand & supply
Multiplier effects
Expectations
Week 9: Fiscal Policy
Government spending & taxation
Budget deficits and debt
Automatic stabilizers
Week 10: Monetary Policy
Central bank tools
Transmission mechanisms
Policy rules vs discretion
Week 11: Open Economy
Exchange rate systems
Balance of payments
International capital flows
Policy trilemma
Week 12: Contemporary Challenges
Global financial crises
Climate change economics
Digital transformation
Future of macro policy
Poslední úprava: Špecián Petr, Ing., Ph.D. (01.08.2025)
