ESF:D_KE Quantitative Economics - Course Information

D_KE Quantitative Economics

Extent and Intensity

0/0. 5 credit(s). 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 11. 4. 12:50–16:00 P403, Fri 25. 4. 12:50–16:00 P403

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

there are 6 fields of study the course is directly associated with, display

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)

Study Materials
Information on completion of the course: Ukončit předmět vždy do konce zkouškového období
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

• Enrolment Statistics (Spring 2008, recent)
  
• Permalink: https://is.muni.cz/course/econ/spring2008/D_KE