Course syllabus U15-0117-B - Macroeconomics (FESRD - WS 2019/2020)

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The units forming the course syllabus:
1.Information lecture and seminar (allowance 2/2) (allowance 0/0)
a.Lecture 1: Basic information on the arrangement of lectures, syllabus of subject, acquaint of students with study materials, defining the conditions for obtaining credit and passing the exam from the subject.
b.Seminar 1: Basic information on the arrangement of seminars, testing the level of economic knowledge.

2.Basic concepts and key issues in macroeconomics (allowance 2/2) (allowance 0/0)
a.Lecture 2: Definition of macroeconomics. Subject and development _of macroeconomics. Macroeconomic objectives and instruments to achieve them. Implementation of macroeconomic objectives in practice.
b.Seminar 2: The performance of the Slovak economy in the main macroeconomic indicators. Working with database (SO SR - Slovstat, Eurostat, Regdat, Infostat).

3.Measuring the performance of the economy (Allowance 2/2) (allowance 0/0)
a.Lecture 3: Macroeconomic cycle. National economic aggregates and methods for their measurement. The problems of measuring economic performance.
b.Seminar 3: Gross domestic product and its method of calculation. Components and structure of GDP. Price indexes and their calculation (consumer price index, producer price index, GDP deflator). Derived aggregate indicators.

4.Aggregate supply and aggregate demand. Macroeconomic equilibrium. (Allowance 2/2) (allowance 0/0)
a.Lecture 4: Aggregate supply. Aggregate demand. Macroeconomic equilibrium (classical and Keynesian approach). Product gap and the inflation gap.
b.Seminar 4: Round table - The service sector and its macroeconomic characteristics.

5.Consumption, savings and investment. (Allowance 2/2) (allowance 0/0)
a.Lecture 5: Consumption, savings and investment. Investment multiplier.
b.Seminar 5: The relationship between disposable income and consumption and saving functions. Analysis of discounted flows and present value. Multiplier effect. Investment multiplier and accelerator. Foreign direct investment and determinants of FDI inflows.

6.Unemployment. (Allowance 2/2) (allowance 0/0)
a.Lecture 6: Labour market, the economic substance of unemployment, types of unemployment, its causes and effects, Phillips curve, the measurement of unemployment, employment policy and its instruments.
b.Seminar 6: Measurement of unemployment. Economic, social and psychological consequences of unemployment. Analysis of the state of employment / unemployment at regional and local level in Slovakia. Proposals for measures to ensure the activation of employment. Best practices from Slovakia and and from abroad - narrative approach (seminar paper).

7.Inflation. (Allowance 2/2) (allowance 0/0)
a.Lecture 7: Inflation. Types of inflation. Causes and consequences of inflation.
b.Seminar 7: Measuring inflation calculates inflation, price indices (CPI, PPI, IPD, the cost of living index). Inflation developments in the Slovak Republic. Options and tools anti-inflation policy.

8.Economic growth and business cycle. (Allowance 2/2) (allowance 0/0)
a.Lecture 8: Resources and measurement of economic growth. Models of economic growth. Economic cycle - characteristics, stages, causes and manifestations of the economic cycle.
b.Seminar 8: Calculation of growth coefficient and growth rates. Analysis of the causes of economic recession. Countercyclical policies.

9.Fiscal policy. (Allowance 2/2) (allowance 0/0)
a.Lecture 9: objectives, instruments and types of fiscal policy. A spending and tax multiplier. The effects of expansive and restrictive fiscal policy.
b.Seminar 9: instruments of fiscal policy in the Slovak Republic, in the EU and in the world and their impact on macroeconomic indicators. The impact of fiscal policy on the regional and local level. Development of and methodology to calculate the state budget balance. Liberalism and protectionism (Oxford debate).

10.Monetary policy. (Allowance 2/2) (allowance 0/0)
a.Lecture 10: Objectives, instruments and types of monetary policy. The effects of expansive and restrictive monetary policy.
b.Seminar 10: Tools of monetary policy in the Slovak Republic, in the EU and in the world and their impact on macroeconomic indicators. Analysis of the causes and impacts of the global financial crisis

11.Cash and cash market. (Allowance 2/2) (allowance 0/0)
a.Lecture 11: Development opinions on money. Forms of money. Monetary aggregates. Money creation. Money multiplier. Money market. Banking system.
b.Seminar 11: Presentation of individual semester project.

12.External economic relationships. (Allowance 2/2) (allowance 0/0)
a.Lecture 12: International Trade. Absolute and comparative advantage in international trade. Balance of payments. Balance of payments development in Slovakia. Exchange rate and foreign exchange market. Foreign economic policy (protectionism and free trade).
b.Seminar 12: Presentation of individual semester project.

13.Final lecture and seminar. (Allowance 2/2) (allowance 0/0)
a.Lecture 13: Summary, Exam.
b.Seminar 13: an evaluation of the seminars, evaluation of seminar work, granting the credit.

Last modification made by Ing. Martin Mastík, PhD. on 09/04/2017.

Type of output: