Introduction to macroeconomics

Economics, its subject. Explaining the importance of macroeconomics and principles of working with models in economics. Introducing the evolution of macroeconomic indicators in the Czech Republic.

Business performance indicators

GDP and methods of its determining. Impact of price change on gross domestic product. GDP and GNI. Comparison of individual states according to business performance. Factors influencing prosperity in the society.

The income expense model

Learning the essential macroeconomic model describing equilibrium in produce in the short-term. The two-sector, three-sector and four-sector economy.

Money

Historical development of money. Importance of money. Analysing the possibilities of influencing the money supply in an economy. Factors affecting the money demand. The money supply and demand equilibrium. The impact of the price level on the currency market.

Aggregate demand and aggregate supply

The model of aggregate demand and aggregate supply. Diverse preconditions for the short- and long-term. The aggregate supply curve in the short- and long-term. The short- and long-term impact of aggregate demand and aggregate supply change.

Economic cycles and economic growth

Economic growth and its phases. Using current data for the Czech Republic. The main reasons for economic cycles. Economic growth as the growth of potential product. The main determinants of economic growth.

Unemployment

Economically active and inactive population, methodologies of unemployment rate determination. Causes of unemployment. Potential product and unemployment. Negative impact of unemployment. The government policy for employment. The current development in unemployment in the Czech Republic.

Inflation

The price level and the inflation rate. Various intensities of the inflation rate. Causes of inflation. The negative impact of inflation. Measures aiming at decreasing the inflation. The relation between the unemployment rate and inflation rate. The decrease of the price level.

The exchange rate

The nominal exchange rate and its changes. The currency market. Monetary arbitrage. The theory of exchange rate determination in the short- and long-term. The current development of the Czech koruna.

The balance of payments and foreign debt, international trade

Types and records of economic transactions between the population of the given country and foreigners. The trade balance and its development in the Czech Republic. Direct foreign investment and its development in the Czech Republic. Foreign debt of a country. Essential theories of international trade. Free trade and protectionism.

Monetary policy

Monetary policy of the central bank. The Czech National Bank and its position. The relation between the money supply and inflation. Various forms of monetary policies around the world. The efficiency of monetary policy in an open economy. The current data concerning the monetary policy in the Czech Republic.

Fiscal policy

The state budget and public budget. The state and public debt. Various forms of fiscal policies. The tax burden and economic performance. The efficiency of fiscal policies in an open economy. The current data concerning the budget and fiscal policy in the Czech Republic.