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Lecturer(s)
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Kovárník Pavel, JUDr. Ing. Ph.D.
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Course content
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construction of a dynamic structural model of economic forecasting rational expectations, Lucas critique, the time inconsistency of economic policy measures behavior of households, population growth behavior of firms price and wage rigidity exogenous and endogenous technological progress government and fiscal policy central bank and monetary policy open economy analysis of impulse responses maximum likelihood function Bayesian approach, Markov chain Monte Carlo (MCMC) estimates using Dynare
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Learning activities and teaching methods
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Individual study, Lecture, Practicum
- Preparation for an examination (30-60)
- 38 hours per semester
- Graduate study programme term essay (40-50)
- 40 hours per semester
- Contact hours
- 78 hours per semester
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| prerequisite |
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| Knowledge |
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| achieve knowledge of basic courses in economics, mathematics and statistics. |
| Skills |
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| distinguish the basic micro and macroeconomic approaches according their assumptions |
| interpret the values of micro and macroeconomic variables |
| Competences |
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| N/A |
| N/A |
| learning outcomes |
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| Knowledge |
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| explain the methodology of modern economic forecasting |
| explain advanced oeconomic models |
| Skills |
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| analyze the structure of economic forecasting models |
| formulate their own simple models |
| apply mathematical procedures for models solving |
| apply statistical methods for models estimation |
| interpret the results of models |
| Competences |
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| N/A |
| teaching methods |
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| Knowledge |
|---|
| Lecture |
| Practicum |
| Individual study |
| Self-study of literature |
| Skills |
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| Practicum |
| Competences |
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| Practicum |
| assessment methods |
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| Knowledge |
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| Oral exam |
| Seminar work |
| Skills |
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| Seminar work |
| Competences |
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| Oral exam |
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Recommended literature
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Costa, Celso José Junior. Understanding DSGE Models: Theory and Applications. Vernon Press, 2016. ISBN 9781622730384.
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Friedman, Milton. Metodologie pozitivní ekonomie. Praha : Grada, 1997. ISBN 80-7169-521-1.
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Gali, Jordi. Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications - Second Edition. Princeton, 2015. ISBN 0691164789.
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Holub, T.; Čihák, M. Teorie růstové politiky. Praha: Vysoká škola ekonomická, Národohospodářská fakulta, 2000. ISBN 80-245-0126-0.
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Hušek, Roman; Pelikán, Jan. Aplikovaná ekonometrie : teorie a praxe. Praha : Professional Publishing, 2003. ISBN 80-86419-29-0.
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Obstfeld M., Rogoff K. S. Foundations of International Macroeconomics. The MIT Press, 1996.
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Walsh, Carl E. Monetary theory and policy. 2nd ed. Cambridge : MIT Press, 2003. ISBN 978-0-262-23231-9.
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