Course: Dynamic Macroeconomics in English

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Course title Dynamic Macroeconomics in English
Course code KEM/ADE
Organizational form of instruction Lecture + Tutorial
Level of course Master
Year of study not specified
Semester Summer
Number of ECTS credits 5
Language of instruction English
Status of course Compulsory-optional, Optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
  • Martinčík David, JUDr. Ing. Ph.D.
  • Lukáš Ladislav, Doc. RNDr. Ing. CSc.
Course content
- The Basic Solow Model - Savings in an OLG Model - Infinitely Lived Agents - Recursive Deterministic Models - Recursive Stochastic Models - Hansen's RBC Model - Linear Quadratic Dynamic Programming - Money: Cash in Advance - Money in the Utility Function - Staggered Pricing Model - Staggered Wage Setting - Financial Markets and Monetary Policy - Small Open Economy Models

Learning activities and teaching methods
Interactive lecture, Task-based study method, Textual studies, Practicum
  • Preparation for an examination (30-60) - 56 hours per semester
  • Contact hours - 39 hours per semester
  • Undergraduate study programme term essay (20-40) - 35 hours per semester
professional knowledge
The course supposes the knowledge of: Basic Microeconomics, Basic Macroeconomics, Mathematics and Statistics.
learning outcomes
Student is able to: - Explain the basic principles of dynamic macroeconomics, - Classify various dynamic theories according to their initial assumptions, - Solve and estimate selected dynamic models using Dynare toolbox.
teaching methods
Interactive lecture
Task-based study method
Textual studies
assessment methods
Combined exam
Seminar work
Recommended literature
  • Galí, Jordi. Monetary policy, inflation, and the business cycle : an introduction to the New Keynesian framework. Princeton : Princeton University Press, 2008. ISBN 978-0-691-13316-4.
  • Ljungqvist, Lars; Sargent, Thomas J. Recursive macroeconomic theory. 2nd ed. Cambridge : MIT Press, 2004. ISBN 978-0-262-12274-0.
  • McCandless, George T. The ABCs of RBCs : an introduction to dynamic macroeconomic models. Cambridge : Harvard University Pres, 2008. ISBN 978-0-674-02814-2.
  • Walsh, Carl E. Monetary Theory and Policy, 2 edition. The MIT Press, 2003.

Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Economics Business Economics and Management (2017) Economy 1 Summer
Faculty of Economics Business Economics and Management (2013) Economy 1 Summer
Faculty of Economics Project Management Systems (2013) Economy 1 Summer