BPE_MAC1 Macroeconomics 1

Faculty of Economics and Administration
Spring 2013
Extent and Intensity
2/2. 8 credit(s). Type of Completion: zk (examination).
Teacher(s)
Renata Ivanova (lecturer)
Renata Ivanova (seminar tutor)
Guaranteed by
doc. Ing. Libor Žídek, Ph.D.
Department of Economics – Faculty of Economics and Administration
Contact Person: Ing. Bc. Bohdana Čechová
Supplier department: Department of Economics – Faculty of Economics and Administration
Timetable
Fri 12:00–13:35 S311; and Tue 26. 2. 16:20–17:55 P103
  • Timetable of Seminar Groups:
BPE_MAC1/01: Fri 13:45–15:20 S311; and Tue 26. 2. 18:00–19:35 P103, R. Ivanova
Prerequisites (in Czech)
! PEMAAI Macroeconomics I
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
The capacity limit for the course is 80 student(s).
Current registration and enrolment status: enrolled: 0/80, only registered: 0/80, only registered with preference (fields directly associated with the programme): 0/80
fields of study / plans the course is directly associated with
there are 29 fields of study the course is directly associated with, display
Course objectives
The course is devoted to applications and policy. The major objective of the course is to help students to understand recent developments in Macroeconomics. Over the semester, students will learn stylized facts of business cycle fluctuations, economic growth, and unemployment. Students will become familiar with macroeconomic data and will learn how to construct and use major macroeconomic statistics. We will analyze the issues of open economy such as gains from trade and implications of different exchange rate regimes. Finally, students will be familiarized with a scope of policies used to improve macroeconomic performance.
Syllabus
  • I. Introduction
  • Lecture 1 (Feb. 22nd). Introduction. Gross domestic product (GDP) and its components. National income accounting.
  • Reading: Textbook, Chapter 22.
  • II. The Economy in the Long Run: The building blocks of the Macroeconomy
  • Lecture 2. (Feb. 26th)*. Economic growth: Theory and policy. Lessons from the data
  • Reading: Textbook, Chapter 25.
  • Lecture 3. (March 8th). National income and its sources
  • Reading: Textbook, Chapter 23.
  • Lecture 4. (March 15th). Labor markets and unemployment
  • Reading: Textbook, Chapter 28.
  • Lecture 5. (March 22nd). Money and Inflation
  • Reading: Textbook, Chapter 29-30.
  • Lecture 6. (March 29th). The Open Economy
  • Reading: Textbook, Chapter 31-32.
  • MIDTERM EXAM (April 5th)
  • III. The Economy in the Short Run: Business Cycle Fluctuations
  • Lecture 7. (April 12th). The model of aggregate demand and aggregate supply
  • Reading: Textbook, Chapter 33.
  • Lecture 8. (April 19th). The Influence of monetary and fiscal policy on aggregate demand
  • Reading: Textbook, Chapter 34.
  • Lecture 9. (April 26th). Aggregate supply and the short-run trade-off between inflation and unemployment
  • Reading: Textbook, Chapter 35.
  • Lecture 10. (May 3rd). Macroeconomic policy debates
  • Reading: Textbook, Chapter 36.
  • Lecture 11. (May 10th). Government debt
  • Lecture 12. (May 17th). International financial crises
  • *Lecture 2 and Ex. Session 2 are rescheduled on February 26th, 2013 instead of March 1st, 2013. Please, note that it is a onetime change only.
Literature
    required literature
  • Textbook:
  • MANKIW, N. Gregory. Principles of economics. 4th ed. Mason: Thomson Higher Education, 2007, 896 s. ISBN 9780324224726. info
  • Any later editions of the above mentioned textbook you find in the library would do. Lecturer urges students to read the textbook in English rather than its Czech translation.
  • Additional materials:
  • Journal articles and handout will be announced and/or distributed during the class.
Teaching methods
There will be one lecture and one practical session per weak. A written midterm test, four problem sets as homework assignments, a term paper, and a written final exam. Students are encouraged to work on homework assignments in small groups of maximum 3 people. Each group submits only one hard copy of their solutions.

The material in the class is cumulative. The lecturer encourages students to keep up to date on a week-by-week basis. Trying to absorb all the concepts two days before exam is not a good strategy for success.


Assessment methods
Students´ grade for the course will be based on their performance on the following items:

20 % Midterm exam
15 % Homework
20 % Term project
40 % Final exam
5 % Class participation/Quizzes
100 % Total

ACADEMIC HONESTY

Cheating will not be tolerated and will be severely punished. No communication with fellow students or use of any materials (books, notes, or cheat sheets) during midterm test and final exam are allowed. You will get only one warning during an examination. A second warning will result in a failing grade for the assignment. No laptops or mobile phones are allowed during the midterm test and final exam.
Language of instruction
English
Further comments (probably available only in Czech)
Study Materials
The course can also be completed outside the examination period.
The course is taught annually.
General note: Nezapisují si studenti, kteří absolvovali předmět PEMAAI. Předmět je ekvivalentní předmětu BPE_MAE1.
Listed among pre-requisites of other courses
Teacher's information
http://is.muni.cz/el/1456/jaro2013/BPE_MAC1
The course is also listed under the following terms Autumn 2009, Spring 2011, Spring 2012, Spring 2014, Spring 2015, Spring 2017, Spring 2018, Spring 2019, Spring 2020, Spring 2021, Spring 2022, Spring 2023, Spring 2024, Spring 2025.
  • Enrolment Statistics (Spring 2013, recent)
  • Permalink: https://is.muni.cz/course/econ/spring2013/BPE_MAC1