Economics 1 - BIM 2. Semester

Economics & Statistics
Summer term 2019 - 16 January 2019

ECONOMICS I -- Introduction to Economics, Microeconomics -- BIM 2nd semester Summer Term 2019

Basic Information

First klick HERE for the Assessment. ("Learning Portfolio")
Required parts of the Learning Portfolio will be explained at the beginning of the semester.
They might be subject to change / discussion during the semester.
If you want to present an Individual Assessment it has to be proposed not later than 24 May 2019

Literature:

The course is based on the textbook of Sloman: Economics -> 9th edition !
7th, 8th and 10th edition are also ok - Links to Pearson-bookshop and catalogue).
Access material of the 7th edition on the book webpage. Here you find the Companion Website of the 10th ed.
To find other sources the University Library provides helpful tools: Economics & Business Studies.
Selected Resources - Faculty 1: International Business.
Data Bases (for example EconLit), OECD iLibrary), RefWorks, ...

Student Platforms Aulis & Socrative:

AULIS will be used for our internal communication and uploads of students.Our class group is:
Faculty 1: Business Sciences (School of Int. Business - SIB) Business Studies / Int. Management (BIM BA) BIM 2 - Microeconomics - summer term 2019
in class we will use Socrative for polls, quick quizzes etc. (room: pschmidt801)

About your Presentations:

Klick HERE for further information about the presentation
What makes a good presentation? -> MindMap 2016, older MindMap

Tentative schedule, also the presentation dates may be subject to changes!
Formally the class takes place for 6 classroom hours / week (4 c-hours of class and 2 c-hour module exercise).

No	week	date (week starts)	presentations (preliminary!)	Unit - topics (Preliminary Schedule)	Material
1	1	11 March 2018		Introduction: Basic problems - Objectives (of Economics / economic policy) Teamwork about Mankiws "Ten Principles of Economics" and a short excerpt from B. Obama "The Audacity of Hope" (p. 176-184) -> (p. 178-185 for the teamwork) -> all texts in this reader -> teamwork for next session: see table below	Organisational issues: schedule, assessments, online-learning Welcome.ppt "Basic Concepts" Economics @ Wikipedia!
2	1			Introduction: Basic problems; economic systems Introduction: economic systems Objectives of economic policy and political systems. -> Homework for next week: see table below	- Hierarchy of goals in market economies - "Wall Street" @ Wikipedia - See also the quotations of T. Friedman
3	2	18 March		Klick HERE for further information about the presentation What makes a good presentation? -> MindMap 2016, older MindMap Basic problems; economic systems	Don't forget to upload your expectations in time! (if you want to do so)
4	2		now we follow the chapter (numbers) of Sloman:	PART A: INTRODUCTION 1: Introducing economics Economic systems Objectives of economic policy and political systems. ( PART B: FOUNDATIONS OF MICROECONOMICS 2: Supply and demand )	Please use the online resources, tests and case studies on the Sloman webpage (see above)
5	3	25 March	Before we start: Please REGISTER to RefWorks, you have to use your university email (...@stud.hs-bremen.de) Please bring a laptop or tablet so that at least every two of you have access to a computer!	Presentation of the possibilities of the University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases by Ms. Ilka Gaulke Exercise: For a term paper you need concrete values (estimations) of the price elasticity of demand (perhaps in a specific region). It has to be academic sources! (There is not one correct answer. Hopefully the groups focus on different goods and so find different sources) RefWorks: - RefWorks @ SuUB - Youtube-Channel \| http://www.youtube.com/user/ProQuestRefWorks Learn RefWorks - Sharing and collaboration	- EconLit - OECD iLibrary: http://www.oecd-ilibrary.org/ - Web of Science: http://isiknowledge.com/wos Example from another class: Corrected Version of a Reference Lis
6	3		13:00-13:30 teamwork in class: Practise to use literature-databases (EconLit) properly: research 3-5 articles from academic journals for your presentation topic = find them, check contents (abstract) and if it fits / is helpfull add it to your RefWorks folder.	PART B: FOUNDATIONS OF MICROECONOMICS 2: Supply and demand (3: Markets in Action )	Please check whether the registrations to the presentations (-> AULIS) are correct - and let me know any changes as well as further registration. Please welcome guest (international) students into your teams ! - Klick HERE for further information about the presentation - What makes a good presentation? -> MindMap 2016, older MindMap - "Wall Street" @ Wikipedia - See also the quotations of T. Friedman
7	4	1 April (Hans-Diers-Symposium)	Pres. 2 Review of Monday's literature search	3: Markets in Action	External links: ERS Glossary, Price Elasticity of Demand, Commodity and Food Elasticities from USDA (e.g. Cross Price Elasticities of Demand), Excel-File with empirically measured Elasticities (xls 13 MB, zip 1,3 MB) from Defra
8	4			3: Markets in Action -> Elasticity
9	5	8 April	Pres. 3	3: Markets in Action -> Elasticity	(just a reminder: there are many textbook-resources available online) Topics of Midtern: will be discussed in class (review to 2018: Introduction, basic questions, objectives (hierarchy of goals), 10 Principles of Economics, chapters 1-3.1 - might be changed in our discussion today) -> EconomicsExamExamples_Micro.doc
10	5			PART C: MICROECONOMICS 4: Background to demand
		15.4. - 22.4.2019 EASTER BREAK	(version 2018 - will be updated when the new report is issued) Berlin, 19th April 2018 JOINT ECONOMIC FORECAST SPRING 2018 German Economy Booming – But Air is Getting Thinner Press release with Summary and Key Forecast Figures
11	6	22 April	Pres. 4	Review / Repetition and questions - chapters 1-4 (and Mankiw) YOUR questions 5: Background to supply	The production process Functions of Competition
12	6			5: Background to supply
13	7	29 April		Midterm Test (30 minutes)	Topics of Midtern will be discussed in class, see above -> EconomicsExamExamples_Micro.doc (Contents_of7th_edition.doc)
14	7	(??)	- no class -	- national holiday -
15	8	6 May	Pres. 5	5: Background to supply
16	8			5: Background to supply -> Profit Maximisation
17	9	13 May	Pres. 6	5: Background to supply -> Profit Maximisation 6: Profit maximising under perfect competition and monopoly
18	9			6: Profit maximising under perfect competition and monopoly	Bundeskartellamt - Control of abusive practices - Ban on cartels Information brochure: Effective cartel prosecution - Benefits for the economy and consumers Deutsche Bahn AG to make changes to ticket sales - do you like a coffee?
19	10	20 May	Pres. 7	6: Profit maximising under perfect competition and monopoly 7: Profit maximising under imperfect competition
20	10			7: Profit maximising under imperfect competition	Movie "A beautiful Mind" about John F. Nash "the best result will come if everyone does what is best for himself ... and the group" - "Split or Steal" and "From Stealing to Trust"
21	11	27 May	Pres. 8	Review marktet structures 7: Profit maximising under imperfect competition -> Game Theory	In memoriam of John F. Nash - 'Beautiful Mind' mathematician John Nash killed in crash - Famed 'A Beautiful Mind' mathematician John Nash, wife, killed in N.J. Turnpike crash
22	11	(??)	- no class -	- national holiday -
23	12	3 June		(8: Alternative theories of the firm) 9: The theory of distribution of income
24	12		Pres. 9	9: The theory of distribution of income
25	13	10 June		Part D Microeconomic Policy 10: Inequality, poverty and policies to redistribute incomes
26	13		Pres. 10	11: Markets, efficiency and the public interest
27	14	17 June	Pres. 11 Evaluation	12: Environmental Policy
28	14		Pres. 12 Pres. 13 (guest lecturer: Prof. Dr. Juan Montoro, Universidad de Valencia)	13: Governmental Policy towards Business Warm-up questions ;-) + review ++ and YOUR question -> Socrative, waiting for the teacher	Preview Economics II Please register for the presentations
29	15	24 June		Final Test (30 minutes) Evaluation	Topics of final test: to be further discussed in class!! Objectives (hierarchy of goals), 10 Principles of Economics, chapters 2, 3.1, 5, 6, (basic) parts of chapters 7 and following. (Contents_of7th_editionBIM_Final2017_30min.doc - to be further discussed in class) Additionally some of your review questions are relevant. -> EconomicsExamExamples_Micro.doc
30	15			13: Governmental Policy towards Business Feedback Discussion	Please remember: last BLOG! This should be a reflection of the class

The "Module Exercise" takes place every week. We formed 6 teams and every team / group is assigned tasks for the next session and is expected to present the results.
The module exercise is part of your individual workload, the lecturer won't deliver new information there; he will only moderate the sessions. The tasks of the module exercise normally refer to the topics discussed in the last week(s). The numbers in the table below normally refer to the chapter in the textbook (Sloman: "End of chapter questions" = EoC).
The exercises discussed in the module exercise show the topics of the test. If the students deliver results or approaches to the solution, we'll discuss the correct solution in class. If no approaches are presented, the task will not be discussed in class but nevertheless stay relevant for the test. TENTATIVE schedule:

Teams:

Date:
8

All students / photos

Alpha

Beta

Gamma

Delta

Epsilon

Zeta

names of students / pictures

Monday, 11 March 2019
Mankiws "Principles" & Obama text - presentation in class:
-> What's it about?

The results are to be presented on Thursday, 15 March up to 10 minutes / team. Please prepare a file (doc, ppt) and upload it before class to our AULIS group.

1-2

3-4

5-6

7-8

9-10

Obama

18 March

Mankiw: "Problems and Applications"

Sloman p 29 (End of chapter 1 questions) 5 and 6

13-15

10-12

7-9

4-6

1-3

25 March

Mankiw: "Problems and Applications"

"

No. 17 ONE example !

"

No. 17 ONE example !

"

No. 17 ONE example !
+ No. 17 ONE example ! + No. 17 ONE example ! + No. 17 ONE example !

1 April

EoC Chapter 2 (=End Of Chapter questions of Sloman)

We are going to discuss questions 12 and 13 from the EconomicsExamExamples_Micro.doc

1 (recommended to ALL students)

2

4

3 and 5

6- and 8

7 (recommended to ALL students)

8 April
EoC Chapter 3

+ task 4 from:
VWL1-MicroExamWS11-12.doc

1; 2-a

3; 2-b

3; 2-c

4; 2-d

5; 2-e

6; 2-f

EASTER BREAK

...

EoC Chapter 5
ALL students: questions 1 & 2

3

4

5

6

7

8

EoC Chapter 6
ALL students: quest. 1

we might do tasks from:
VWL1-MicroExamWS11-12.doc (test of earlier semester) - Micro Exam (WS 06/07)

2

3

4

5

6

7

t.b.a.

we'll do exercises in class
-> Microeconomics WS 05/06 EFA 3 (English) (90 min)

Additionally we might discuss some tasks from: VWL1-MicroExamWS11-12.doc (Example of a final test (30 min)
all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-) all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-) all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-) all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-) all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-) all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)

Review and your questions You find some old exams here You find some old exams here You find some old exams here You find some old exams here You find some old exams here You find some old exams here

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Teams: Date: 8	All students / photos	Alpha	Beta	Gamma	Delta	Epsilon	Zeta
	names of students / pictures
Monday, 11 March 2019	Mankiws "Principles" & Obama text - presentation in class: -> What's it about? The results are to be presented on Thursday, 15 March up to 10 minutes / team. Please prepare a file (doc, ppt) and upload it before class to our AULIS group.	1-2	3-4	5-6	7-8	9-10	Obama
18 March	Mankiw: "Problems and Applications"	Sloman p 29 (End of chapter 1 questions) 5 and 6	13-15	10-12	7-9	4-6	1-3
25 March	Mankiw: "Problems and Applications"	" No. 17 ONE example !	" No. 17 ONE example !	" No. 17 ONE example !	+ No. 17 ONE example !	+ No. 17 ONE example !	+ No. 17 ONE example !
1 April	EoC Chapter 2 (=End Of Chapter questions of Sloman) We are going to discuss questions 12 and 13 from the EconomicsExamExamples_Micro.doc	1 (recommended to ALL students)	2	4	3 and 5	6- and 8	7 (recommended to ALL students)
8 April	EoC Chapter 3 + task 4 from: VWL1-MicroExamWS11-12.doc	1; 2-a	3; 2-b	3; 2-c	4; 2-d	5; 2-e	6; 2-f
	EASTER BREAK
...
	EoC Chapter 5 ALL students: questions 1 & 2	3	4	5	6	7	8
	EoC Chapter 6 ALL students: quest. 1 we might do tasks from: VWL1-MicroExamWS11-12.doc (test of earlier semester) - Micro Exam (WS 06/07)	2	3	4	5	6	7
	t.b.a.

	we'll do exercises in class -> Microeconomics WS 05/06 EFA 3 (English) (90 min) Additionally we might discuss some tasks from: VWL1-MicroExamWS11-12.doc (Example of a final test (30 min)	all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)	all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)	all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)	all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)	all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)	all teams should please look at the whole exam - we'll roll the dice which team presents which task ;-)
	Review and your questions	You find some old exams here	You find some old exams here	You find some old exams here	You find some old exams here	You find some old exams here	You find some old exams here