Economics & Statistics
Winter term 2020/21 - 10 February 2020
|
Economics & Statistics Winter term 2020/21 - 10 February 2020 |
ECONOMICS I -- Introduction to Economics, National Accounting
and Microeconomics -- EFA 3rd
semester WS
2020/21
|
This class
takes place online via
video conferences Basic Information
Literature
Interactive Participation
Preliminary schedule: (there may be changes to the schedule during the class) |
7th. ed.: |
| No | week | date | presentation | Unit - topics (Preliminary Schedule) | prepare for this session | Material |
1 |
1 |
02 Nov |
Introduction: Basic problems (In classs: Teamwork
about Mankiws
"Ten Principles of Economics" & |
- |
Reader
2020 -
Welcome.ppt |
|
2 |
1 |
05 Nov | PART
A: INTRODUCTION |
read 10 principles, prepare tasks for ME | - Hierarchy
of goals in market economies Please use the online resources, tests and case studies on the Sloman webpage (see above) |
|
3 |
2 |
9 Nov | (no pres. 1) | Mankiws
"Ten Principles of Economics"
Outlook
to Part D: in
MÜ part (see table below): |
We are going to finish the 10 principles of Economics that everyone has read! => please (p)review the "Board Pictures / pdf files" in our AULIS group Feel free to prepare questions! I assume that the first 3 market failures are clear (if not: ask), we will talk about the forth: "instabilities" Afterwards we are going to address the objectives / Hierarchy of goals in market economies and compare economic systems (chapter 1 of Sloman) |
Review:
Academic Literature & Library RefWorks: Example from another class: Corrected Version of a Reference List |
4 |
2 |
12 Nov | Teams
please prepare:
14 The National
Economy
|
We are going
to discuss chapter 14 Watch the following
screencasts: We'll discuss 14.2 the circular flow of income in class and derive the the (three ways of) measurment of the GDP (14.3) |
German National
Accounting @DeStatis: Important
economic indicators & publications
- GDP to NNY and summary of National Income accounting - Eurostat
with National
Accounts |
|
5 |
3 |
16 Nov | Topics of our
first test • Mankiw principles 1-7, esp. the Economic dogmata / Different viewpoints: Neo-Liberal <> Interventionists • Hierarchy of goals in (social) market economies • Chapter 14: Definitions about GDP, components * MC in the presentation * Simple calculation of GDP Basic ideas of the ECG (Economy of the common good) |
14 The National
Economy Critiques of GDP: SUSTAINABILITY Global
goals for sustainable development
+++ OECD
Centre +++ |
Today we'll finish our discussion of National Accounting (GDP, ...) and afterwards are going to ask ourselves: Is
GDP really an apt measure of Welfare Please watch the
following videos (before class!)
Other aspects of
Economic theory: - Economic
growth and the production possibility curve |
- What if the common good was the goal of the economy? | Christian Felber | TEDxVienna (ME s.b.) - How can countries measure the well-being of their citizens? (TED institute) "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 ... The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report 2016: Sustainable Development in Germany", also see "Wie misst man Wohlstand?" |
6 |
3 |
19 Nov | NO
CLASS 19. - 20. Nov ALL EFA students have to attend the -> |
Recovery Loses Momentum -Economy and Politics Still Shapedby the Pandemic |
 |
|
Current Issues |
|
|
Overcoming the Coronavirus Crisis
Together; Weitere Infos
zum Thema (in German):
|
|||
7 |
4 |
23 Nov | test
1 |
Critiques of GDP: SUSTAINABILITY Doughnut Economics (Ways
to Think Like a 21st-Century Economist) Scientist for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook |
Watch the following
screencasts and find more information in the text (book, chapter 15):
|
Review: (Contents_of7th_edition.doc)
-> EconomicsExamExamples_Micro.doc |
8 |
4 |
26 Nov |
Balance of Payments: |
- Aggregate
demand and supply and the price level German balance of payments in 2019: Please read page 17 and the "Major items of the balance of payments" p. 28 |
||
9 |
5 |
30 Nov |
PART B: FOUNDATIONS OF MICROECONOMICS 2: Supply and demand |
The
Demand Curve |
(just a reminder: there are many textbook-resources available online) --> Link to chapter 2 |
|
10 |
5 |
03 Dec | 2: Supply and demand (2.1 and 2.2) |
-- " -- |
|
|
11 |
6 |
07 Dec |
test 2 |
2: Supply and demand
3: Markets in Action -> Elasticity |
-
Elasticity: Introduction (mp4) |
Topics
of test 2: Objectives (as summarized in the “Hierarchy of goals” -> Magic square -> Calculations of unemployment rate Sustainability • Recommendations of the Stiglitz-report • ECG (Economy of the common good) Chapter 2 (Sloman) (chapter 2.1 and 2.2) |
12 |
6 |
10 Dec | Pres. 2 | 3: Markets in Action -> Elasticity | (we will not
dicuss supply elasticities explicitely, but this video might be helpful
anyway - Elasticity: Price elasticity of supply (mp4) - Elasticity: Price elasticity and time (mp4)) - Incidence of taxation: The effect of indirect taxes on market price and quantity (mp4) - Incidence of taxation: Elasticity and the incidence of taxation (mp4) |
|
13 |
7 |
14 Dec |
Pres. 3 |
3: Markets in
Action -> Elasticity
PART C: MICROECONOMICS |
- Speculation
(mp4) - Utility
analysis: Utility (mp3) |
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 |
14 |
7 |
17 Dec
|
(no Pres. 4) | 4: Background to demand |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book (-> chapter 5) |
Topics of our third test (21 December) • chapter 2 complete |
15 |
8 |
21 Dec |
test 3 |
5: Background to
supply 5.1 -> 5.2 Production -> Costs ... - 5.5 Costs and Revenue |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | Review of old exams ... and why not enjoy: Deck the Halls with Macro Follies |
16 |
8 |
HAPPY new Year 2021! |
(no Pres. 5) | 5: Background
to supply |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
17 |
9 |
11 Jan | 5: Background
to supply |
Please watch the
relevant videos ("Audio animations") in the textbook
resources of our book: - Perfect competition: Introduction - Perfect competition: Short-run supply curve of the firm under perfect competition - Perfect competition: The industry supply curve under perfect competition |
||
18 |
9 |
14 Jan | 6: Profit maximising
under perfect competition and monopoly |
Please watch
the relevant videos ("Audio animations") in the textbook
resources of our book: |
Topics of our test 4 (18 January) • chapter 5: all parts that we discussed • chapter 6: 6.1 (overview) 6.2 PC: assumptions, profit maximizing quantity advantages and disadvantages |
|
19 |
10 |
18 Jan | Pres. 6 test 4 |
6: Profit maximising
under perfect competition and monopoly |
Please watch the
relevant videos ("Audio animations") in the textbook
resources of our book - Monopolistic competition - Monopolistic competition: long-run equilibrium - Oligopoly |
|
20 |
10 |
21 Jan | 7: Profit maximising under imperfect competition |
Please watch
the relevant videos ("Audio animations") in the textbook
resources of our book |
||
21 |
11 |
25 Jan | (no Pres. 7) | 7: Profit maximising
under imperfect competition Oligopoly -> Game Theory |
Please watch the
relevant videos ("Audio animations") in the textbook
resources of our book - Game theory - Price discrimination |
-
Movie "A
beautiful Mind" about John
F. Nash Bundeskartellamt
- Control
of abusive practices - Ban
on cartels |
22 |
11 |
28 Jan | (7) ... imperfect competition - Oligopoly -> Game Theory 8: Alternative theories of the firm |
Review / Repetition and questions - chapters 4-7 (and also 1 (Mankiw) - 3) |
|
|
23 |
12 |
01 Feb | Pres. 8 test
5 |
8: Alternative theories
of the firm |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
24 |
12 |
04 Feb | Pres. 9 | 9: The theory of distribution of income | Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
25 |
13 |
08 Feb | Pres. 10 | 10: Inequality, poverty and policies to redistribute incomes | Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
26 |
13 |
11 Feb | Indiv. Assessment: Coase Modell (no pres. 11) |
11:
Markets, efficiency and the public interest |
-> Evaluation: Please participate Please watch the relevant videos ("Audio animations") in the textbook resources of our book |
Topics of our test 6 (15
February) |
27 |
14 |
15 Feb | Pres. 12 test 6 |
12. Environmental Policy | Please watch the relevant videos ("Audio animations") in the textbook resources of our book | The German Statistical
Office (DeStatis) publishes Environmental
indicators and also an "Indicator
Report 2016: Sustainable Development in Germany". We discussed the
topics for the exam in class. The resulting file "Contents_of7th_edition
EFA Micro.doc" will be available in our AULIS group. |
28 |
14 |
18 Feb |
Really maximizing the Well-Being of all: "The Economy of the common good" (no
Pres. 13) |
Review,
questions + outlook: 13. Government Policy towards Business |
Review
and conclusion + YOUR questions Please watch the relevant videos ("Audio animations") in the textbook resources of our book |
Some Videos
"Fight of the Century" / Fear
the boom and the bust Videos about economic approaches: "60 Second Adventures in Economics" (Open University) |
review 2019 Climate change Critiques
of GDP:
|
Global
#WeekForFuture #ClimateStrike Planetary Emergency Plan (Club of Rome) 19 The Relationship between the Money and Goods Markets |
WTO: Economy for the Common Good |
Groups (Module exercise): The "Module
Exercise" takes place every week <45-90 minutes every week
integrated into our class on Mondays > 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.
|
|
Alpha |
Beta |
Gamma |
Delta |
Epsilon |
Zeta |
|
please prepare for: |
Names of students |
Elena Elisa Fatlind Finn |
Calvin Landry Mahyar Philip B. |
Amnit Kais Lucia Philip J. |
Melanie Tim Vanessa |
Fynn Lionel Madiyar |
Lan-Chi Mandy Phuong |
| 2 Nov (in class) | Mankiws
"Principles" & - presentation in class: |
1-2 |
3-4 |
5-6 |
7-8 |
9-10 |
Obama
text |
| 9 Nov | 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 |
| 16 Nov | 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 ! |
Critiques of GDP - Measuring Sustainable Development (See also the Joint Report for the |
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) |
| 30 November | Discussion of the "common good economy"
approach What
if the common good was the goal of the economy? |
Christian Felber (TEDxVienna) [up to 12:45] |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
| 7 December | tasks from last (2) week(s) | -- " -- |
-- " -- |
-- " -- |
-- " -- |
-- " -- |
-- " -- |
| 14 December | EoC Chapter 2 |
1 (recommended to ALL students) |
2 |
4 |
3 and 5 |
6- and 8 |
7 (recommended to ALL students) |
| 21 December | we'll do task 4 of VWL1-MicroExamWS11-12.doc in class EoC Chapter 3 |
3-1 |
3-4 |
3-5 |
3-6 |
3-7 |
3-8 |
| 11 January 2021 | In class: - 4.1 to 4.4 |
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 |
| 18 January | EoC Chapter 5 |
3 |
4 |
5 |
6 |
7 |
8 |
| NN | EoC Chapter 6 ALL students: question 1 |
2 |
3 |
4 |
5 |
6 |
7 |
| no homework, we'll
do exercises from chapter 6, tasks: 2, 3, 6 and 8 Additionally we will discuss task 6 from the Microeconomics WS 05/06 EFA 3 (90 min) |
all teams should please prepare the tasks | all teams should please prepare the tasks | all teams should please prepare the tasks | all teams should please prepare the tasks | all teams should please prepare the tasks | all teams should please prepare the tasks | |
| NN | no homework, we'll do exercises in class -> VWL1-MicroExamWS11-12.doc | 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 ;-) |
| NN | Review of old exams |
Review of old exams, e.g. the exam of Microeconomics WS 14/15 | |||||
| NN | YOUR questions |
Links:
Links:
- WIKIPEDIA,
the free Encyclopedia (english)
- Leo -
Online Dictionary
- odge.de: Online-German-English-Dictionary
Learning / Improving your English:
- See the tips on the web page of the "Fremdsprachenzentrum",
especially "Internet
Quellen", "Medien",
and "Englisch
in Bremen"
- Somewhat less actual are the English
Language Resources (ELR) web site of Hochschule Bremen (Bremen
university of applied sciences)
with many useful tips, among other things: "How
can I improve my English outside class?" (with tips for going out:
English Club ... and more).
- also useful a list of English radio stations: http://www.surfmusik.de/land/england.html
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:
"
On
October 14 2020 the Joint Economic
Forecast Autumn 2020 was published: 
