That's  me ;-)

Economics & Statistics

 Winter term 2017/18 -  18 October 2017
ECONOMICS I -- Introduction to Economics, National Accounting and Microeconomics -- EFA 3rd semester WS 2017/18

Basic Information

  • First klick HERE for the Assessment.
  • It's a Learning Portfolio.
  • Required parts of the Learning Portfolio will be discussed at the beginning of the semester.
  • They might be subject to change / discussion during the semester.

Literature:

Student Platform Aulis:

Presentation:

Preliminary Schedule:
(there might (will) be changes to the schedule during the class)

7th. ed.:

No week date (week starting on ...) presentation Unit - topics (Preliminary Schedule) Material
1 1 03. Oct  

(national holiday)

 
2 1 04. Oct  

Introduction: Basic problems

(In classs: Teamwork about Mankiws "Ten Principles of Economics" &
Part from B. Obama "The Audacity of Hope" (p. 176-184)

Reader 2017

Welcome.ppt
"Basic Concepts"
Economics @ Wikipedia
 

3 2 10. Oct
 

PART A: INTRODUCTION
Mankiws "Ten Principles of Economics"
1: Introducing economics
Economic systems
Objectives of economic policy and political systems.
 

Hierarchy of goals in market economies
- "Wall Street" @ Wikipedia

- See also the
quotations of T. Friedman

Please use the online resources, tests and case studies on the Sloman webpage (see above)

4 2

11. Oct

14:30

(no pres. 1)

PART A: INTRODUCTION
Mankiws "Ten Principles of Economics"
1: Introducing economics
Economic systems
Objectives of economic policy and political systems.
 


Outlook to Part D:
Foundations of Macroeconomics

14 The National Economy
National Accounting, Concepts and Critiques of GDP 

------------------

Library presentation postponed, new date: t.b.a:
Presentation by Ms. Gaulke from the SuUB
review of the possibilities of the University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases and RefWorks

RefWorks: -> http://www.refworks.com (Gruppencode: RWUBremen)
RefWorks –Youtube-Channel | http://www.youtube.com/user/ProQuestRefWorks

- RefWorks information on the SuUB homepage
- RefWorks - short guide
- Modifying an Output Style (and Sharing)

in MÜ part:
Teams' Presentation of Mankiws "Ten Principles of Economics"
Introduction: Basic problems; economic systems

- Hierarchy of goals in market economies
- "Wall Street" @ Wikipedia

- See also the
quotations of T. Friedman

Please use the online resources, tests and case studies on the Sloman webpage (see above)

 

 

 

 

 



- EconLit
- OECD iLibrary: http://www.oecd-ilibrary.org/
- Web of Science: http://isiknowledge.com/wos

Additional tools
Write’N’Cite (short guide) - http://youtu.be/qObr6QoBh2c
OneLine/Cite View (alternative to Write’n’Cite) - https://www.library.ohiou.edu/find/refworks/oneline-citeview.html
RefGrab-It (web pages) - http://www.youtube.com/watch?v=25yPHGyx3T4

Example from another class: Corrected Version of a Reference List

      Current Macroeconomic issues:

 On September 28 2017 the Joint Economic Forecast Autumn 2017 was published:

Upturn Remains Robust – Amid Mounting Tensions

Press release with Summary with Key Forecast Figures (PDF, 192 KB)

 
5 3 17. Oct  

Outlook to Part D:
Foundations of Macroeconomics

 

14 The National Economy
National Accounting, Concepts and Critiques of GDP 

German National Accounting @DeStatis:
- Important economic indicators & publications
- current figures: "GERMAN ECONOMY (last) quarter"
(
In German: "Wichtige Zusammenhänge im Überblick")

IN FOCUS @ Destatis: Overall economic equilibrium: 50th anniversary of the Magic Square

-> Overall economic equilibrium: 50th anniversary of the Magic Square

- Eurostat with National Accounts
- Economic indicators at the OECD
- OECD iLibrary - The OECD's Online Library of Statistical Databases, Books and Periodicals (accessible from the campus net - or via VPN) OECD-report: „How's Life? November 2015: Measuring Well-being“

Other sources of data and information:
o U.S. Department of Commerce: www.commerce.gov        o Bureau of Economic Analysis: www.bea.gov
o Bureau of Labor Statistics: www.bls.gov         o Federal Reserve System: www.federalreserve.gov
o The World Factbook (CIA): www.cia.gov/library/publications/the-world-factbook        o For data on Europe, visit europa.eu (European Union home page) and
o the European Central Bank home page on www.ecb.int        o International sources include the
  - International Monetary Fund www.imf.org       - and the World Bank www.worldbank.org

6 3    

Presentation methods and strategies
(What makes a good presentation?)

14 The National Economy
National Accounting, Concepts and Critiques of GDP 

 

+++ OECD Centre +++
-------------------------------------------------------------
How's Life? 2015: Measuring Well-being
How`s Life? 2016: Measuring Well-being Germany

OECD Better Life Index

- German National Accounting @DeStatis:
- Eurostat with National Accounts
- Source OECD - The OECD's Online Library of Statistical Databases, Books and Periodicals (accessible from the campus net - or via VPN) OECD-Bericht „How's Life? November 2013: Measuring Well-being“

- GDP to NNY and summary of National Income accounting

Debate at the Economist about GDP as a measure of welfare

"Monitoring economic performance, quality of life and sustainability" by the German Council of Economic Experts in association with the french Council of Economic Analysis - Joint Report 2010 requested by the Franco-German Ministerial Council to Chancellor Mrs. Angela Merkel and french President Nicolas Sarkozy (deutsche Übersetzung: Wirtschaftsleistung, Lebensqualität und Nachhaltigkeit: Ein umfassendes Indikatorensystem). This report (and request) was based on the ...
->
Report of the commission on the measurement of economic performance et social progress 2009

The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report 2016: Sustainable Development in Germany", also see "Wie misst man Wohlstand?"

7 4 24. Oct   15 Macroeconomic Issues and Analysis: an Overview

 

8 4     PART B: FOUNDATIONS OF MICROECONOMICS
2: Supply and demand
 
9 5 31. Nov   (national holiday)  
10 5   Pres. 2 2: Supply and demand
3: Markets in Action

 

11 6 07. Nov Pres. 3 3: Markets in Action -> Elasticity
Repetition and questions Part A and B
External links:
ERS Glossary,  Price Elasticity of Demand, Income Elasticity, Excel-File with empirically measured Elasticities (xls 13 MB, zip 1,3 MB) from Defra
12 6     PART C: MICROECONOMICS
4: Background to demand
 
13 7 14. Nov Pres. 4 4: Background to demand Review of old exams
14 7 Midterm test 5: Background to supply  
15 8 21. Nov   5: Background to supply  The production process 
16 8   Pres. 5

5.6 Profit Maximization
6: Profit maximising under perfect competition and monopoly

 
17 9 28. Nov   6: Profit maximising under perfect competition and monopoly  
18 9   Pres. 6 6: Profit maximising under perfect competition and monopoly
7: Profit maximising under imperfect competition

        30. Nov - 1. Dec..: ALL EFA students have to attend the -> EFA-Symposium 2017!!!!
19 10 05. Dec Pres. 7 7: Profit maximising under imperfect competition

20 10     7: Profit maximising under imperfect competition
- Movie "A beautiful Mind" about John F. Nash
- "Split or Steal" and "From Stealing to Trust"
21 11 10. Dec Pres. 8 (7) ... imperfect competition - Oligopoly -> Game Theory  
22 11    

Review / Repetition and questions - chapters 4-7 (and also 1 (Mankiw) - 3)

 Some Videos "Fight of the Century" / Fear the boom and the bust
- "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
- Fight of the Century: Keynes vs. Hayek Round Two
and more information like "The Tale of the Dueling Economists".
Texts of the videos

... and why not enjoy Deck the Halls with Macro Follies

23 12 19. Dec Pres. 9

8: Alternative theories of the firm

24 12     9: The theory of distribution of income  
25 13 09. Jan Pres. 10 9: The theory of distribution of income HAPPY new Year 2018! 
26 13     10: Inequality, poverty and policies to redistribute incomes  
27 14 16. Jan Pres. 11

Review, questions + outlook:

11: Markets, efficiency and the public interest

 Videos about economic approaches: "60 Second Adventures in Economics" (Open University)

 

28 14   12. Environmental Policy The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report 2016: Sustainable Development in Germany".
Just published: the OECD Better Life Index
29 15 23. Jan Pres. 12 & Pres. 13
13. Government Policy towards Business in ME: Review and conclusion + YOUR questions
Exam preparation - summary and questions
30 15   Final test

Review and conclusion + YOUR questions
Exam preparation - summary and questions

We'll discuss the topics for the exam in class. The resulting file "Contents_of7th_edition EFA Micro.doc" is available in our AULIS group.

The solution of the exam we discussed in class has been updated as well

 

Groups (Module exercise): The "Module Exercise" takes place every week <45-90 minutes every week integrated into our class on Wednesdays> We formed 6 groups and every group is assigned tasks for the next session and is expected to present the results (=prepared at homework)
The module exercise is part of your individual workload, it isn't marked and the lecturer won't deliver new information; 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"). At the end of the module exercise there is room for general questions about the topics, terms, ... .

The exercises discussed in the module exercise are relevant for the exam. 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 exam.

Teams:

week/date:

 


All students /
photos

Alpha  
Beta  
Gamma  
Delta  
Epsilon  
Zeta

names of students / pictures

Berrit
Josie
Lars
Jan

Laura
Mareike
Jonas
Dominic

Maxime

Hürdes
Ezgi
Asli
Lin
Esar
Peer
Arne
Markus
Thomas
Igor
Eduard
Dominik
Abbdulah
Chrissy
Sebastian
Robin
Laura
04. Oct.

Mankiws "Principles" & - presentation in class:
-> What's it about?

1-2
3-4
5-6
7-8
9-10
Obama
11. Oct.

Mankiw: "Problems and Applications"
reminder: presentation by the teams (=homework)

Sloman p 29 (End of chapter 1 questions) 5 and 6
13-15
10-12
7-9
4-6
1-3
18. Oct.
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 !

25. Oct.

Critiques of GDP - Measuring Sustainable Development

(See also the Joint Report for the
Franco-German Ministerial Council: "Monitoring economic performance,
quality of life and sustainability
"), esp. the dashboard on p. 27

In the Report of the "Stiglitz-Sen-Fitoussi commission" on the "Measurement of economic performance and social progress" (2009) the authors deliver 12 recommendations. Each team is requested to present a brief (~ 5-7 min.) summary of two recommendations -------->

In the Executive summary (p.7-18) each recommendation is described in one paragraph but you are also requested to refer to the more detailed part of the report or/and other sources.

1) Recommendations 1 and 2

2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes)

(each team should present for a maximum of 10 minutes)

1) Recommendations 3 and 4

2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes)

(each team should present for a maximum of 10 minutes)

1) Recommendations 5 and 6

2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes)

(each team should present for a maximum of 10 minutes)

1) Recommendations 7 and 8

2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes)

(each team should present for a maximum of 10 minutes)

1) Recommendations 9 and 10

2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes)

(each team should present for a maximum of 10 minutes)

1) Recommendations 11 and 12

2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes)

(each team should present for a maximum of 10 minutes)

01. Nov

EoC Chapter 2
(=End Of Chapter questions)

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

1 (recommended to ALL students) 2 4 3 and 5

6- and 8

7 (recommended to ALL students)

08. Nov EoC Chapter 3
all students task 2 !
3-1 3-4 3-5 3-6 3-7 3-8
15. Nov EoC Chapter 4
+
task 4 from:
VWL1-MicroExamWS11-12.doc
 
4-8 4-7 4-6 4-2, 4-4 - use (own) illustrations for your answer 4-1 Describe the income and the substitution effect using figures like 4-16 to 4-18
22. Nov no homework, we'll do exercises in class -> VWL1-MicroExamWS11-12.doc (test of last semester)
Additionally we might discuss some tasks from the
Microeconomics WS 05/06 EFA 3 (English) (90 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 ;-)
29. Nov

EoC Chapter 5
ALL students: questions 1 & 2

3
4
5
6
7
8
06. Dec EoC Chapter 6
ALL students: question 1
2
3
4
5
6
7
13. Dec Review of old exams, e.g. the exam of last year. Microeconomics WS 14/15            
20. Dec Review of old exams            
Jan 2018 YOUR questions            

 

Top

Links:

 Quotations form the book of Thomas Friedman: "The World is flat":
- For some, particularly among the older generations, this was an unwelcome transformation. Communism was a great system for making everyone equally poor. In fact, there was no better system in the world for that than Communism. Capitalism made people unequally rich, and for some who were used to the plodding, limited, but secure Socialist lifestyle--where a job, a house, an education, and a pension were all guaranteed, even if they were meager--the fall of the Berlin wall was deeply unsettling. (p. 51/52)
- ... to some degree Mikhail Gorbachev's hapless efforts to reform something that was unreformable brought communism to an end. But if I had to point to one factor as first among equals, it was the information revolution that began in the early- to mid-1980s. Totalitarian systems depend on a monopoly of information and force, and too much information started to slip through the Iron Curtain, thanks to the spread of fax machines, telephones, and other modern tools of communication. (p 54)

-You are visitor number:


 
Hochschule Bremen
Fachbereich Wirtschaft
VWL und Statistik