Course detail

Economics 3

FP-ekotDAcad. year: 2020/2021

The course “Economics 3” deepens and extends knowledge of students from “Macroeconomics” and “Microeconomics”, in particular with regard to theoretical knowledge in relation to their application and modification in solving economic research questions. The contents of the “Macroeconomics” lessons include the theories of endogenous and exogenous economic growth and the real economic cycle, the theory of economic policy and its applications in the conditions of a small open economy, as well as the political and economic aspects of asserting economic policy. The section of “Microeconomics” provides a systematic analysis of the behaviour of two basic market entities (consumers and companies). Students will also learn about the theory of general equilibrium and issues related to decision making of economic entities in the conditions of risk and uncertainty.

Learning outcomes of the course unit

Students will understand advanced macro- and microeconomic theories in the context of the current development of the domestic and international economic environment and will be able to analyze the impact of external and internal economic phenomena and processes on the company. The acquired knowledge will thus contribute to the achievement of key management goals at a qualitatively higher level. Individual assignments on a selected topic will support the student in the ability to incorporate selected theories into the context of the Ph.D. thesis.

Prerequisites

The course builds on the knowledge of the courses Macroeconomics, Microeconomics, Econometrics on the master level. Students are familiar with advanced economic theories and are able to use mathematical tools in economic modeling.

Co-requisites

Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

SLANÝ, A. Makroekonomická analýza a hospodářská politika. Praha: C.H.Beck, 2003, 375 stran. ISBN 80-7179-738-3.
WIELAND, V., CWIK, T., MÜLLER, G., SCHMIDT, S., WOLTERS, M. 2012. A new comparative approach to macroeconomic modeling and policy analysis, Journal of Economic Behavior & Organization, 83(3), p. 523-541, https://doi.org/10.1016/j.jebo.2012.01.006.
HOLMAN, R. Makroekonomie: středně pokročilý kurz : sbírka řešených otázek a příkladů. Praha: C.H.Beck, 2013, ISBN 978-80-7400-485-8.
VARIAN, H. R. Intermediate Microeconomics with Calculus: A Modern Approach. New York: Norton and Company, 2014. ISBN 978-0-393-92394-0.
HEIJDRA, B. J. Foundations of Modern Macroeconomics. Oxford: Oxford University Press, 2009, ISBN 978-0-19-921069-5.
CREAL, D. D., WU, J. C., 2017. Monetary policy uncertainty and economic fluctuations. 58(4), p. 1317-1354. doi:10.1111/iere.12253
BLANCHARD, O., ILLING, G. Makroökonomie. Hallbergmoos: Pearson Deutschland GmbH, 2017, ISBN 978-3-86894-308-5.
HOŘEJŠÍ, B., MACÁKOVÁ, L., SOUKUP, J., SOUKUPOVÁ, J. Mikroekonomie. Praha: Management Press, 2018. ISBN 978-80-7261-218-5.
SOUKUP, J. Mikroekonomická analýza. Praha: Ecola, 2012. ISBN 978-80-861-7512-6.
MUÑOZ-GARCIA, F. Advanced Microeconomic Theory: An Intuitive Approach with Examples. MIT Press. 2017. ISBN: 978-0262035446.

Planned learning activities and teaching methods

The course includes lectures, where the theory and methodology of the discipline are explained. The assignment of the module supports the student in the ability to incorporate selected economic theories into the context of the Ph.D. thesis.

Assesment methods and criteria linked to learning outcomes

The exam includes an assignment on a selected topic methodologically related to the thematic focus of the Ph.D. thesis (30 points) and knowledge of the subject matter in the exam (70 points). The exam is combined (the oral part follows the written part). For successful completion of the course the student must obtain 75 points.

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

The course “Economics 3” deepens and extends knowledge of students from “Macroeconomics” and “Microeconomics”, in particular with regard to theoretical knowledge in relation to their application and modification in solving economic research questions. The contents of the “Macroeconomics” lessons include the theories of endogenous and exogenous economic growth and the real economic cycle, the theory of economic policy and its applications in the conditions of a small open economy, as well as the political and economic aspects of asserting economic policy. The section of “Microeconomics” provides a systematic analysis of the behaviour of two basic market entities (consumers and companies). Students will also learn about the theory of general equilibrium and issues related to decision making of economic entities in the conditions of risk and uncertainty.
The course content:
Theory of endogenous and exogenous economic growth and real business cycles
Theory of economic policy and its application in conditions of small open economy
Politico-economic aspects of application of economic policy
Systematic analysis of the behavior of two basic market participants (consumers and companies)
General equilibrium theory
Decision-making of economic subjects in conditions of risk and uncertainty

Aims

The main objective of the “Economics 3” course is to deepen and expand the knowledge of students gained through the study of Macroeconomics and Microeconomics within the Master study program regarding advanced economic theory in the context of contemporary development of the domestic and international economy, as well as to familiarize themselves with scientific methods and procedures for the respective area of research. The partial objective of the course is to develop the ability to apply the knowledge acquired in the context of enterprise management.

Specification of controlled education, way of implementation and compensation for absences

Student's participation in scheduled lessons is required. It is organized in blocks. Control of attendance is the responsibility of the teacher. Teaching is also in the form of consultations on the processing of individual written work.

Classification of course in study plans

  • Programme DSP-ŘEP-KS Doctoral, 1. year of study, winter semester, 0 credits, compulsory
  • Programme DSP-ŘEP Doctoral, 1. year of study, summer semester, 0 credits, compulsory
    , 1. year of study, winter semester, 0 credits, compulsory
  • Programme DSP-ŘEP-KS Doctoral, 1. year of study, summer semester, 0 credits, compulsory

Type of course unit

 

Lecture

20 hours, optionally

Teacher / Lecturer