Economics & Statistics
Winter term 2017/18 - 15 January 2018
|
Economics & Statistics Winter term 2017/18 - 15 January 2018 |
Economics
II: Macroeconomics and Economic
Policy
-- Winter
Term 2017/18
BIM 3rd semester + International Students |
| Basic Information
Literature:
Student Platform Aulis:
Presentation: Preliminary Schedule: |
|
| No | week | date | presentation | Unit - topics (Preliminary Schedule) | Material |
| 1 | 1 | 03 Oct | - national holiday - | - How useful
is economics? ->
Nobel Laureate Daniel McFadden Warm-up
questions ;-) GapMinder
->"This
is Water" by David Foster Wallace: video,
text |
|
| 2 | 1 | Wed, 04 Oct | Review of Mankiw
principles 5-7 and 8-10 / Teamwork (MÜ): Most important objective:
|
-> Reader
BIM 2017 -> Overall economic equilibrium: 50th anniversary of the Magic Square - Eurostat
with National
Accounts |
|
| 3 | 2 | 10 Oct | 14 The National Economy: |
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. |
|
| 4 | 2 | Critiques of GDP
+++ OECD Berlin Centre – 15. Oktober 2015 +++ |
- What
if the common good was the goal of the economy? | Christian Felber |
TEDxVienna (ME s.b.) 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 ... The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report 2016: Sustainable Development in Germany", also see "Wie misst man Wohlstand?" |
||
| 5 | 3 | 17 Oct | (no pres. 15) |
Upturn Remains Robust – Amid Mounting Tensions Press release with Summary with Key Forecast Figures (PDF, 192 KB) |
  |
| 6 | 3 | 15 Macroeconomic Issues and Analysis: an Overview |
Annenberg
Video @ learners.org: |
||
| 7 | 4 | 24 Oct | 15 Macroeconomic Issues and Analysis: an Overview |
|
|
| 8 | 4 | pres. 16 | 15 Macroeconomic Issues and Analysis: an Overview Part E: Macroeconomics |
Annenberg
Video @ learners.org: |
|
| 9 | 5 | 31 Oct | - no class - | - national holiday - |
|
| 10 | 5 | 1 Nov | pres. 17 | 17 Short-run Macroeconomic Equilibrium |
Main
Source : European Central Bank ECB,
Educational
Sources: |
| 11 | 6 | 07 Nov | - no class - | - due to a business journey - |
|
| 12 | 6 | - no class - | - due to a business journey - |
||
| 13 | 7 | 14 Nov | 17 Short-run Macroeconomic Equilibrium |
|
|
| 14 | 7 | (15 Nov) | - no class - |
|
The Council of Economic Experts delivered the annual report 2017/18 to the German government. Towards a Forward-Looking Economic Policy" Please read the Executive summary of the Annual Report 2017/18 of the annual report 2017/18 (in German) of the German Council of economic experts |
| 15 | 8 | 21 Nov | pres.
18 |
Fiscal Policy and Balanced Budget Multiplier by Haavelmo (-Theorem) |
|
| 16 | 8 | pres. 19 | 18 Money and Interest Rates |
-> in the November-Blog I am specifically interested in your opinion about the parts of the learning portfolio: which are good, which might be replaced, do you see alternatives? Please keep in mind that less than 3 parts do not make a lot of sense. Should there be more self-responsibility of the students? |
|
| 17 | 9 | 28 Nov | pres. 20 | 18 Money and Interest Rates |
Please read Box 20.2 "Riding a Switchback" - The Liquidity Trap by Roger K. Strickland (YouTube) Some Videos "Fight
of the Century" / Fear
the boom and the bust |
| 18 | 9 | -- no class due to a re-accreditation meeting -- |
|
||
| 19 | 10 |
|
pres. 21 | 19 The Relationship between the Money and Goods Markets | Limits
to Growth The first university in Germany to create a Common Good Balance ... |
| 20 | 10 | pres. 22 pres. 23 |
20 Fiscal and Monetary Policy 21 Aggregate Supply, Unemployment and Inflation) Economic Policy issues |
Simulation Game TopSim Applied
Economics
- each team please select one contact person. I need the mobile phone numbers of these contact persons. |
|
| 21 | 11 |
|
- no class - | - due to illness - |
|
| 22 | 11 | - no class - | - due to illness - |
||
| 23 | 12 | 
19
Dec |
pres. 26 |
brief overview about: Workshop on Negotiation
skills |
YOUR questions about the topics discussed up to now: |
| 24 | 12 | pres. 24 pres. 27 |
25 The Balance of Payments and Exchange Rates
Simulation Game TopSim Applied Economics: |
You can (and should!) ask questions
about your team's/sectors's topics/decisions ... and why not enjoy: Deck the Halls with Macro Follies |
|
| 25 | 13 | 09 Jan |
Midterm Test | HAPPY new Year 2018! |
To
prepare you might want to work on the tasks for the Module Exercises
as well as the "Test your Knowledge" of the chapters on
http://media.pearsoncmg.com/intl/ema/ema_uk_he_sloman_econ_7e/pages/textbook_resources_index.htm
|
| 26 | 13 | Simulation Game TopSim Applied Economics | Simulation Game TopSim Applied Economics 1st round (= period 2) | ||
| 27 | 14 | 16 Jan |
- " - | - Feedback and discussion of 1st round (= period 2) | |
| 28 | 14 | Simulation Game TopSim Applied
Economics |
- periods 3 and 4 | ||
| 29 | 15 | 23
Jan |
- " - |
- Feedback and discussion of last rounds - period 5 |
|
| 30 | 15 | Short presentation about Keynesian policy during the financial crisis. | - " -
Review and conclusion 26 Global and Regional Interdependence 27 Economic Problems of Developing Countries Feedback and Review |
Video about economic approaches: "60 Second Adventures in Economics" Some Videos "Fight
of the Century" / Fear
the boom and the bust |
Module
exercise (ME): The
tasks of the module exercise normally refer to the topics discussed in the
last week(s). The numbers refer to the chapter in the textmook (Sloman:
"End of chapter questions").
Parts
of the ME will take place doing the Simulation Game TopSim Applied
Economics, details will be discussed in class
|
|
Alpha |
Beta |
Gamma |
Delta |
Epsilon |
 Zeta |
|
names of students |
|||||||
| Simulation Game | Firm 1 |
Firm 2 |
Bank 1 |
Bank 2 |
Advocacy
groups / CWA |
Government |
|
| 1. week Wed, 4 Oct (integrated in class) |
Review of Mankiw principles 5-7 and 8-10 (in class) Teamwork: Most important objective: |
||||||
2nd week |
+ What if the common good was the goal of the economy? | Christian Felber | TEDxVienna + Teamwork IN class about exercises on chapter 14 and basics of economic policy |
Discussion of the "common good economy"
approach - issues from video - your research - universities with common good balances |
Discussion of the "common good economy"
approach - issues from video - your research - universities with common good balances |
Discussion of the "common good economy"
approach - issues from video - your research - universities with common good balances |
Discussion of the "common good economy"
approach - issues from video - your research - universities with common good balances |
Discussion of the "common good economy"
approach - issues from video - your research - universities with common good balances |
Discussion of the "common good economy"
approach - issues from video - your research - universities with common good balances |
18 Oct. 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 invited to refer to the more detailed part of the report or/and other sources. |
1) Recommendations 1 and 2 |
1) Recommendations 3 and 4 | 1) Recommendations 5 and 6 | 1) Recommendations 7 and 8 | 1) Recommendations 9 and
10 -> next week |
1) Recommendations 11 and 12 |
| 25 Oct. | Teamwork about the Joint Economic Forecast Autumn 2017 was published: Upturn Remains Robust – Amid Mounting Tensions Press release / Summary with Key Forecast Figures (PDF, 192 KB) |
Inflation Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) |
Europe Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) |
Employment Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) |
International issues Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) |
Growth Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) |
Global Economy Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) |
| 01 Nov. | 15-1, 15-2 |
15-3, 15-4 |
15-5, 15-7 |
16-1 |
16-3, 16-4 |
16-5, 16-8 |
|
| 08 Nov | - no class - | ||||||
15 Nov (no ME) |
ALL teams please prepare EoC-question 1 (ch 17) = letters -> plus the homework for next week (=22 Nov) !! |
(a) 2 |
(b and c) 3 |
(d) 3 |
(e) 4 |
(f) 5 |
(g) 7 |
22 Nov |
The Council of Economic Experts delivered the annual report 2017/18 to the German government --Towards a Forward-Looking Economic Policy" Please read the Executive summary of the Annual Report 2017/18 of the annual report 2017/18 (in German) of the German Council of economic experts |
What are the three most important messages? Important results domestic economy |
What are the three most important messages? Monetary policy |
What are the three most important messages? Euro Area |
What are the three most important messages? Globalisation |
What are the three most important messages? Greenhouse gas reduction |
What are the three most important messages? Demography, structural change and the labourforce |
29 Nov (no ME due to a reaccreditation meeting) Do this task (in class) FOR NEXT WEEK |
All Teams please perform a regression
analysis for the consumption function for ... |
... the USA |
... France |
... Germany |
... England (/ GB) |
... Ireland |
... Spain |
| 06 Dec | Have a look at this exam (I'm aware that you don't know task 1 yet, nor 3-2 and 3-3 -- and of course your test will still only be 30 minutes) | task 2 but using: C = 1000 + 0.8 Y |
task 2 but using: C = 2000 + 0.9 Y |
3.1 (own research) | 4.2 in your own words (and perhaps some own research), don't use my ppt, we all know that. | 4.4 in your own words (and perhaps some own research) | 4.1 (own research) |
| 13 Dec | EoC-question chapter 18 |
||||||
| 20 Dec | EoC-question chapter 20 We'll do tasks together in class: MacroExamSoSe10.pdf |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
| Jan 2018 | Simulation Game TopSim Applied Economics - Presentations by the teams | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise |
Simulation Game TopSim Applied Economics |
we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | |
| Simulation Game - Final Presentation | Final
Presentation |
Final
Presentation |
Final
Presentation |
Final
Presentation |
Final
Presentation |
Final
Presentation |
Data Sources:
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)
Interesting
Economics-related links (arranged by Christopher Langelage - in memoriam)
-You
are visitor number:
On
September 28 2017 the Joint Economic Forecast Autumn 2017 was
published: 