NE_PH_AMA Advanced Macroeconomics

NEWTON University
summer 2026
Extent and Intensity
2/1. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Lukáš Vartiak, PhD. (lecturer)
Ing. Lukáš Vartiak, PhD. (seminar tutor)
Guaranteed by
prof. Ing. PhDr. Ing. Vladimír Tomšík, Ph.D. et Ph.D.
Centre for International Programmes – International programmes – NEWTON University
Timetable
Wed 15:10–16:40 PH Učebna 12, except Wed 4. 3. ; and Wed 6. 5. 15:10–16:40 PH Učebna 12
  • Timetable of Seminar Groups:
NE_PH_AMA/01: each even Thursday 9:40–11:10 PH Učebna 12, except Thu 5. 3. ; and Thu 7. 5. 9:40–11:10 PH Učebna 12, L. Vartiak
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives

The aim of the course is to deepen and broaden the knowledge of macroeconomic theory at a contemporary level of knowledge and to understand the benefits and limitations of economic policies from the perspective of different schools of economic thought. The course introduces students to advanced macroeconomic concepts, including the functioning of an open economy in a globalised environment and the context for small open economies. The course includes more advanced analysis of the short-run and long-run effects of economic policy, a study of economic growth models and deeper aspects of unemployment and inflation.

Course Objectives:

  • to orient oneself in the problems of modern macroeconomic theory;
  • understand the implications of modern economic policy for the real economy;
  • be able to explain the empirics of economic fluctuations;
  • understand the causes and principles of economic growth models;
  • apply theoretical concepts to real economic policy problems in the contemporary globalized world;
  • understand the deeper aspects of unemployment and inflation;
  • acquire the ability to interpret economic phenomena, apply knowledge to real economic policy problems, and solve problems using macroeconomic theory.



Syllabus
  1. Introduction to advanced macroeconomics. Methods, indicators, topics, economic thinking.
  2. Theoretical and practical economic policy, its scope, objectives, effectiveness, lags.
  3. Keynesian model of determining equilibrium output. The theory of consumption.
  4. Fiscal and monetary policy in the LS-LM model.
  5. Determination of equilibrium output in an open economy.
  6. External equilibrium, balance of payments and the BP curve. IS-LM-BP model. Mundell-Fleming model.
  7. The concept of aggregate supply according to different schools of economic thought.
  8. Aggregate demand and its derivation. Extreme cases of aggregate demand.
  9. Fiscal and monetary policy in the AS-AD model according to different schools of economic thought.
  10. Models of economic growth. Assumptions, dynamics, economic consequences.
  11. Models of labour market functioning and their assumptions. Nominal and real rigidities, efficiency wages.
  12. Effects of inflation and deflation in the economy. Methods of treating inflation. Inflation and unemployment

The seminars focus on empirical analysis, application of macroeconomic theories and work with individual models, while the topics of the seminars correspond to the topics of individual lectures.

Assessment methods (in Czech)
Zápočet: (prez., dist.) průběžný zápočtový test (min. 50 % úspěšnost)
Zkouška (prez., dist.) závěrečný písemný test (min. 50 % úspěšnost)
Language of instruction
English
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