D_KE Quantitative Economics

Faculty of Economics and Administration
Spring 2003
Extent and Intensity
0/0. Recommended Type of Completion: zk (examination). Other types of completion: z (credit).
Teacher(s)
RNDr. Dalibor Moravanský, CSc. (lecturer)
Guaranteed by
prof. Ing. Osvald Vašíček, CSc.
Department of Applied Mathematics and Computer Science – Faculty of Economics and Administration
Contact Person: prof. Ing. Osvald Vašíček, CSc.
Timetable
Fri 28. 3. 9:30–13:30 S307, Fri 4. 4. 9:30–13:30 S307, Fri 11. 4. 9:30–13:30 S307, Fri 25. 4. 9:30–13:30 VT314, Thu 15. 5. 13:10–16:00 S307, Mon 26. 5. 10:00–14:00 S307, Tue 17. 6. 14:00–17:00 S307
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
The purpose of the subject is to acquaint students with advanced tools of mathematical modelling of macroeconomic systems. The main theoretical concepts as the source of model structure will be reviewed. Presented attitudes will be illustrated in the form of case studies and models. Simultaneously, the main instruments of statistical identification, verification, simulation and prognostic projection will be presented. The emphasis will be put on the following major topics: Production function in micro-and macroeconomic environment including derived economic functions: cost, price, profit and demand formulations - properties and derivation, Hotelling - Shepard lemma. Examples of used non-linear forms (CD-function, ACMS-function, VES-function, TRANSLOG and other flexible functional forms). Technological progress and methods of its measurement. Estimates of parametres in the single-equation regressive models by both standard and variant techniques: linear (LS and LAD) and non-linear case; estimate of linear form or by the NLLS method. Multi-equation macroeconomic models with the interpretation of economic functions included: investment, consumption, monetary, import and export, character of variables and their operationalization. Possibility of variant specification. Methods of parametre estimates in multi-equation linear econometric models (2SLS or 3SLS and LIML). Structural, reduced and final form. Verification instruments of econometric estimate. Overall macroeconomic IS-LM models. Specification and quantification of real data. Alternative specifications of the growth models (Samuelson-Hicks model in full version). Assumptions of adaptive and rational expectations. Prediction of exogenous variables. Statistical evaluation of prediction capabilities of models. Model truthfulness in relation to data. Prognostic conditionality of statements. Prediction methods of exogenous variables (extrapolation, adaptive attitudes). Dynamical economic models. Quantification methods of time-dependent parametres systems. Contributions and stumbling blocks of this approach. Using the models for forecasting. Testing of constancy of parametres. Models with distributed lags. Problem of quantification. Estimate of lag duration. Macroeconomic models of selected economies. Illustrations and calculations using real data of the present economic environment. Model simulation.
Literature
  • CORNES, R. Duality and Modern Economics. Holland: North Holland P.C., 1992. info
  • ALLEN, R. G. D. Matematická ekonomie. Translated by Martin Černý. 1. vyd. Praha: Academia, 1971, 782 s. URL info
Language of instruction
Czech
Further comments (probably available only in Czech)
Information on completion of the course: Ukončit předmět vždy do konce následujícího semestru
The course can also be completed outside the examination period.
The course is taught annually.
General note: U oboru veřejná ekonomie pouze zápočet.
Information on the extent and intensity of the course: 24 hodin přednášek za semestr.
Information on course enrolment limitations: U oboru veřejná ekonomie - pouze zápočet
The course is also listed under the following terms Spring 2000, Spring 2001, Spring 2002, Spring 2004, Spring 2005, Spring 2006, Spring 2007, Spring 2008, Spring 2009.
  • Enrolment Statistics (Spring 2003, recent)
  • Permalink: https://is.muni.cz/course/econ/spring2003/D_KE