N_BR_MA2_k Macroeconomics 2

NEWTON University
summer 2026
Extent and Intensity
0/18. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
doc. Ing. Milan Palát, Ph.D. (lecturer)
doc. Ing. Milan Palát, Ph.D. (alternate examiner)
Guaranteed by
prof. Ing. PhDr. Ing. Vladimír Tomšík, Ph.D. et Ph.D.
Centrum ekonomie a datové analytiky – Academic Department – NEWTON University
Timetable of Seminar Groups
N_BR_MA2_k/01: Sat 7. 3. 8:45–14:30 BR Učebna 01, Sat 28. 3. 8:45–14:30 BR Učebna 01, Sat 18. 4. 8:45–14:30 BR Učebna 01, M. Palát
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 knowledge of macroeconomic theory at the current level of understanding and to understand the benefits and limitations of economic policies from the perspective of individual schools of economic thought. Students will become familiar with advanced macroeconomic concepts, including the functioning of an open economy in a globalized environment and the implications for small open economies. The course includes a more advanced analysis of the short-term and long-term effects of economic policy, the study of economic growth models, and deeper aspects of unemployment and inflation.
Learning outcomes
After successfully completing this course, students will be able to address issues in modern macroeconomic theory, particularly in growth theory and business cycle theory, work with Ramsey, Solow, and Diamond models, explain the empirics of economic fluctuations, describe the impacts of modern monetary policy on the real economy, and work with New Keynesian economics models. Students will be able not only to explain the above concepts theoretically, but also to apply them to real economic and political problems in today's globalized world.
Syllabus
  • Introduction to advanced macroeconomics. Methods, indicators, topics, economic thinking.
  • Theoretical and practical economic policy, its scope, objectives, effectiveness, delays.
  • Keynesian model for determining equilibrium production. Theory of consumption.
  • IS-LM model. Fiscal and monetary policy in the IS-LM model.
  • Determination of equilibrium production in an open economy.
  • External equilibrium, balance of payments, and the BP curve. IS-LM-BP model. Mundell-Fleming model.
  • Concept of aggregate supply according to different schools of economic thought.
  • Aggregate demand and its derivation. Extreme cases of aggregate demand.
  • Fiscal and monetary policy in the AS-AD model according to different schools of economic thought.
  • Economic growth models. Assumptions, dynamics, economic consequences.
  • Labor market models and their assumptions. Nominal and real rigidities, efficiency wages.
  • The effects of inflation and deflation on the economy. Methods of treating inflation. Inflation and unemployment.
Literature
    required literature
  • MACH, M. 2001. Makroekonomie II pro magisterské (inženýrské) studium. Slaný: Melandrium. 367 s. ISBN 80-86175-18-9.
  • SOUKUP, J. a kol. 2022. Makroekonomie. Praha: Management Press. 550 s. ISBN 978-80-7261-596-4.
    recommended literature
  • HOLMAN, R. 2010. Makroekonomie: středně pokročilý kurz. Praha: C. H. Beck. 424 s. ISBN 978-80-7179- 861-3.
  • JUREČKA V. a kol. 2023. Makroekonomie. Praha: Grada. 384 s. ISBN 978-80-271-3635-3.
  • MANKIW, N. G. 2018. Macroeconomics. New York: Worth Publishers. 598 s. ISBN 978-1-429218870.
  • VLČEK, J. 2017. Makroekonomie a ekonomická analýza. Praha: Wolters Kluwer ČR. 232 s. ISBN 978-80- 7552-794-3.
  • ŽĎÁREK, V., SPĚVÁČEK, V., VEJMĚLEK, J., ZAMRAZILOVÁ, E., ROJÍČEK, M. 2016. Makroekonomická analýza – teorie a praxe. Praha: Grada. ISBN 978-80-247-5858-9.
  • TOMŠÍK, V. 2012. Ekonomie a zdravý rozum. Praha: Nakladatelství FRAGMENT. ISBN 80-245-0861-3.
  • HOLMAN, R. 2018. Makroekonomie: středně pokročilý kurz: sbírka řešených otázek a příkladů. Praha: C.H. Beck. 91 s. ISBN 978-80-7400-723-1.
Assessment methods

Credit: The condition for obtaining credit is successful completion of the ongoing credit test.

Exam: Final written test (minimum 50% correct answers).

Language of instruction
Czech
The course is also listed under the following terms summer 2025.
  • Enrolment Statistics (recent)
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