Course: Economic analysis and forecasting

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Course title Economic analysis and forecasting
Course code KEM/EKAP
Organizational form of instruction Lecture + Lesson
Level of course Master
Year of study not specified
Semester Winter and summer
Number of ECTS credits 7
Language of instruction Czech
Status of course Compulsory
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
  • Martinčík David, JUDr. Ing. Ph.D.
Course content
- 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

Learning activities and teaching methods
Individual study, Lecture, Practicum
  • Preparation for an examination (30-60) - 50 hours per semester
  • Presentation preparation (report) (1-10) - 4 hours per semester
  • Contact hours - 78 hours per semester
  • Graduate study programme term essay (40-50) - 50 hours per semester
professional knowledge
Prerequisite is knowledge of basic courses in economics, mathematics and statistics.
general eligibility
learning outcomes
professional knowledge
- 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
teaching methods
Individual study
Self-study of literature
professional skills
general eligibility
assessment methods
professional knowledge
Oral exam
Seminar work
professional skills
Seminar work
general eligibility
Oral exam
Recommended literature
  • ALLEN, R. G. D. Matematická ekonomie. Praha : Academia, 1971.
  • Friedman, Milton. Metodologie pozitivní ekonomie. Praha : Grada, 1997. ISBN 80-7169-521-1.
  • Holub, T.; Čihák, M. Teorie růstové politiky. Praha: Vysoká škola ekonomická, Národohospodářská fakulta, 2000. ISBN 80-245-0126-0.
  • HUŠEK, R. Ekonometrická analýza. Praha : Ekopress, 1999. ISBN 80-86119-19-X.
  • Hušek, Roman; Pelikán, Jan. Aplikovaná ekonometrie : teorie a praxe. Praha : Professional Publishing, 2003. ISBN 80-86419-29-0.
  • Obstfeld M., Rogoff K. S. Foundations of International Macroeconomics. The MIT Press, 1996.
  • Walsh, Carl E. Monetary theory and policy. 2nd ed. Cambridge : MIT Press, 2003. ISBN 978-0-262-23231-9.

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