Předměty

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)

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)

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)

The course is largely textbook-agnostic. Any renowned introductory macroeconomics textbook will do.

Recommended resources:

CORE Economy 2.0: Macroeconomics, https://core-econ.org/the-economy/macroeconomics
Mankiw, N. 2023. Principles of Economics. 10th edition. Cengage Learning.
Cowen, Tyler, and Alex Tabarrok. 2020. Modern Principles of Economics. Fifth edition. Worth Publishers.
Marginal Revolution University. Principles of Economics: Macroeconomics. https://mru.org/principles-economics-macroeconomics-0.

For specific recommendations, see Moodle.

Poslední úprava: Špecián Petr, Ing., Ph.D. (01.08.2025)

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)

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)