JEB102 - Principles of Economics II

Kredit: 6
Dotace: 2/2
Role předmětu: Anglicky
Bakalářský - vše
BEF - core
Semestr - letní
Prerekvizity: JEB101 - Principles of Economics I
Doporučené kurzy: JEB003 - Ekonomie I
JEB101 - Principles of Economics I
Garanti: Petr Janský , Ph.D.
Vyučující: Petr Janský , Ph.D.
Asistenti: PhDr. Tomáš Adam
Mgr. Hana Džmuráňová
Mgr. Jan Šolc
Rozvrh:
Novinky:
Literatura:
Popis: Principles of Economics II
Summer Semester 2015, JEB102
Charles University, Faculty of Social Sciences
This course introduces economic thinking and basic principles of macroeconomics for first-year economics students as well as for non-economists. Principles of Economics II is an introductory economics course with lectures and seminars for students of:
 Bachelor in Economics and Finance (mandatory course).
 Bachelor of Science in Economics (mandatory course, an alternative to Ekonomie II).
 International Economic and Political Studies and any other degree at Charles University with interest in economics or economic policy.
The course begins with the first lecture on Wednesday, 19th February at 8 am in room no. 314. The location of all lecture and seminar rooms is the Institute of Economic Studies.
Lectures and supervisor
Lecture Day Time Room Lecturer Contact
Principles II Wednesday 8:00-9:20 314 Petr Janský web, email

During the semester, there will be a number of guest lectures in combination with the standard lectures. The guest lecturers will provide insights on macroeconomic issues from their work in business, finance, research or the government.
Seminars and tutors
Seminar Day Time Room
1 Wednesday 14:00-15:20 109
2 Wednesday 15:30-15:20 105
3 Wednesday 17:00-18:20 105
Hana Džmuráňová (web, email), Tomáš Adam (web, email) and Jan Šolc (web, email) share the responsibility for the three seminars.
Furthermore, Hana and Tomáš are responsible for midterm and final exams. Jan is responsible for the topics of seminar presentations and for Aplia. Please do not hesitate to contact them in case you have questions related to these issues.

Readings
The course follows the material that is present in almost identical form in the following three textbooks (and also their earlier or later editions):
 Mankiw, N.G., Taylor, M.P.: Economics (2nd or 1st edition, the chapter numbers in the weekly schedule below relate to the 2nd edition of this textbook).
 Mankiw, N.G..: Principles of Economics (6th edition or earlier edition).
 Mankiw, N.G..: Principles of Macroeconomics (6th edition or earlier edition).
Students are encouraged to read the relevant chapters (listed in the weekly schedule below) in one of these textbooks. There are a number of copies of the Economics textbook available in the IES library (and some in the CERGE-EI library). Also please note that a number of other introductory economics texts provide almost equivalent service to the student as the above mentioned textbooks.
Requirements and assessment
Students attend lectures and seminars, which are organised for their benefit. Students are encouraged to provide constructive feedback during the semester so that teaching can be improved accordingly. Experience shows that there is a positive correlation between attendance at lectures and seminars and final grades.
This course offers two main alternatives for final examination. Students can decide either to fulfil assignments in an online Aplia system during the semester or to sit in for a final exam at the end of the semester. The final exam is a test with various questions such as problem sets and multiple choices and is an open book exam (you can have a textbook and any notes written by yourself). It is also possible to sit in for the final exam after trying Aplia (Aplia counts as the first attempt at a final examination). Aplia assignments are submitted on a weekly basis (more on how to purchase it is at the end of this syllabus). For both Aplia and the exam, the grading follows this simple rule: the total number of points received is divided by the maximum number of points that could have been received.
If students opt for the final exam, it accounts for 80% of their grade. If students opt for Aplia, Aplia accounts for 40% of their final grade. Additionally, they have to pass a midterm test in the second half of the semester, mainly to demonstrate their basic knowledge (a minimum of 50% of total points is required, but it the midterm’s results account for 40% of the final grade). The midterm test is based on lectures and seminars and it is a closed book exam with mostly multiple choice questions and short answers.
The remaining 20% are awarded on the basis of student teams’ performances in presentations at seminars (15%) and reviews’ of other team’s presentations (5%). At the beginning of the semester, students in each of the seminars are required to form teams of up to 5 members and prepare together a presentation on the macroeconomic situation in one country, for which they are all awarded the same grade. This presentation should not take more than 20 minutes and it should include the discussion of the country’s structure of GDP growth (both production and expenditure side), development of inflation and of labour market variables as well as assessment of monetary and fiscal policy. Countries are assigned to the following ten weeks: the Czech Republic (4.3.), the Slovak Republic (11.3.), Germany (18.3.), Spain (25.3.), Sweden (1.4.), USA (8.4.), China (15.4.), United Kingdom (22.4.), France (29.4.), Russia (6.5.). The group should assign one member to reserve the chosen topic by mailing it to Jan together with the names of the team members and preference for one of the three weekly seminars. The first-come, first-served principle applies. Recommended literature is the country reports provided by IMF available at http://www.imf.org/external/country/index.htm.
The grading is same for all students. Total values higher than 90% correspond to grade 1 (výborně in Czech), between 80% and 90% to grade 2 (chvalitebně), between 70% and 80% to grade 3 (dobře).
A brief summary of requirements and grading
Option Condition Grade
Aplia A minimum of 50% points at midterm exam Aplia (40% of the final grade), midterm (40%), team presentations (15%) and reviews (5%)
Final exam Final exam (80% of the final grade), team presentations (15%) and reviews (5%)



Weekly schedule
Week (Winter) Day (2015) Themes Economics chapters
1 18th February Measuring a Nation’s Income and course introduction 23
2 25th February Measuring the Cost of Living; a guest lecture by Pavel Hait
24
3 4th March Production and Growth; a guest lecture by - Petr Bouchal
25
4 11th March Saving, Investment and the Financial System and the Basic Tools of Finance; a guest lecture by Petra Kolouchová
26 + 27
5 18th March Unemployment and Its Natural Rate; a guest lecture by Aleš Chmelař
28
6 25th March The Monetary System; Money Growth and Inflation; a guest lecture by Matěj Turek
29 + 30
7 1st April Open-Economy Macroeconomics: Basic Concepts; A Macroeconomic Theory of the Open Economy; a guest lecture by Jiří Skuhrovec
31 + 32
8 8th April The Short Run Tradeoff between inflation and Unemployment; a guest lecture by Vilém Semerák
36
9 15th April Keynes and IS-LM Analysis; Aggregate Demand and Aggregate Supply; The Influence of Monetary and Fiscal Policy 33 + 34 + 35
10 22nd April The Financial Crisis 37
11 29th April Common Currency Areas and European Monetary Union 38
12 6th May Five Debates over Macroeconomic Policy 39


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