Economics
II: Macroeconomics and Economic
Policy
-- Winter
Term 2019/20
BIM 3rd semester + International Students |
Basic Information
Literature:
Student Platform Aulis:
Preliminary Schedule: |
No | week | date * | presentation | Unit - topics (Preliminary Schedule) | Material |
1 | 1 | 09 Oct | WHY Economics? Review of Mankiw
principles 5-7 and 8-10 / Let's talks about
alternatives: |
The EU must be rebuilt - for a real renaissance of democracy at all levels of political life -- A French-German Manifesto -- (text in pdf German-English) Reaganomics: a Historical Watershed - How useful is
economics? ->
Nobel Laureate Daniel McFadden |
|
2 | 1 | 10 Oct | Most important OBJECTIVE(s) What if the common good was the goal of the economy? | Christian Felber (TEDxVienna) [up to 12:45] 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 |
Warm-up
questions ;-) GapMinder
--> Factfulness
(the
book) ->"This
is Water" by David Foster Wallace: video,
text |
|
3 | 2 | 16 Oct | Part D: Foundations of Macroeconomics |
German National
Accounting @DeStatis: -> Overall economic equilibrium: 50th anniversary of the Magic Square - Eurostat
with National
Accounts |
|
4 | 2 | 17 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. |
|
5 | 3 | 23 Oct | Critiques of GDP
+++ OECD Centre +++ |
- 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 | 24 Oct | 15 Macroeconomic Issues and Analysis: an Overview |
Annenberg
Video @ learners.org: |
|
7 | 4 | 30 Oct | pres. 15 | 15 Macroeconomic Issues and Analysis: an Overview Balance of Payments: Part E: Macroeconomics |
|
8 | 4 | 31 Oct | NO class, northern holiday | On September 27 2018 the Joint Economic Forecast Autumn 2018 was published: Upturn Loses Momentum – World Economic Climate Grows Harsher |
|
9 | 5 | 06 Nov | 17 Short-run Macroeconomic Equilibrium |
Annenberg
Video @ learners.org: Example for the "Multiplier rounds" |
|
10 | 5 | 07 Nov | pres. 16 | 17 Short-run Macroeconomic Equilibrium Keynes' Income-Expenditure Model Fiscal Policy and Balanced Budget Multiplier by Haavelmo (-Theorem) |
|
11 | 6 | 13 Nov | The Council of Economic Experts delivered the annual report 2019/20 to the German government. DEALING WITH STRUCTURAL CHANGE
Weitere
Infos zum Thema (in German): |
||
12 | 6 | 14 Nov | pres. 17 | 18 Money and Interest Rates |
Main
Source : European Central Bank ECB,
Educational
Sources: |
13 | 7 | 20 Nov | pres. 18 |
18 Money and Interest Rates
|
-
definitions
of monetary aggregates - MFI
information - Inflation - ppt used in class - leitzinsen.info |
14 | 7 | 21 Nov | -- no class due to EFA-Symposium 2019 -- |
YOU are invited to participate: EFA-Symposium 2019 -> 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? |
|
15 | 8 | 27 Nov | Climate change Critiques
of GDP: pres. 19 |
Global
#WeekForFuture #ClimateStrike Planetary Emergency Plan (Club of Rome) 19 The Relationship between the Money and Goods Markets |
WTO: Economy for the Common Good |
16 | 8 | 28 Nov | pres. 20 |
18 Money and Interest Rates 19 The Relationship between the Money and Goods Markets Economic Policy issues |
- The
Liquidity Trap by Roger K. Strickland (YouTube) Some Videos "Fight
of the Century" / Fear
the boom and the bust |
17 | 9 | 04 Dec | pres. 21 pres. 22 |
Economic Policy issues brief overview about: |
Simulation Game TopSim Applied
Economics
Simulation
Game TopSim Applied Economics - Introduction
by the lecturer |
18 | 9 | 05 Dec | pres. 23 IA WTO |
22 Long-term Economic Growth 23 Supply-side Policies |
Limits
to Growth The first university in Germany to create a Common Good Balance ... |
19 | 10 | 11 Dec |
pres. 24 (1) |
Part F: The World Economy 24 International trade |
Preview
Final test: |
20 | 10 | 12 Dec |
Final Test |
Final Test (40 minutes.- might
incl. MC questions) - example from 2015/16 (30 minutes - recall that ours is 40 minutes) |
|
21 | 11 | 18 Dec |
pres. 25 pres. 26
|
25 The Balance of Payments and Exchange Rates
Simulation Game TopSim Applied Economics:
IA: Regina, Timon: Draghi and ECB
Workshop on Negotiation
skills |
Simulation
Game TopSim Applied Economics:
You can (and should!) ask questions
about your team's/sectors's topics/decisions (check their office hours
or make appointments via email) The team grade for the simulation game results from your participation and engagement in the game, which is documented in the final presentation (end of January, see below). As the teams are relatively big, you can divide them so that some team members deliver the pre-presentation in December and others the final presentation in January. All team members that are listed in the ppt of the final presentation will be awarded the points for the simulation game (so if you team decides that you didn't participate enough and doesn't list your name there, you're not awarded any points for the games). |
22 | 11 | 19 Dec | pres. 24 (2) |
25 The Balance of Payments and Exchange Rates | ... and why not enjoy: Deck the Halls with Macro Follies |
23 | 12 | 08 Jan |
HAPPY new Year 2020! |
Simulation Game TopSim Applied Economics |
We don't have much time today
=> you have to be prepared = Simulation Game TopSim Applied Economics 1st round (= period 2) |
24 | 12 | 09 Jan |
room change to D 106 | - " - | - Feedback and discussion of results and experiences of the 1st round (= period 2) |
25 | 13 | 15 Jan | Simulation Game TopSim Applied
Economics |
- period 3 | |
26 | 13 | 16 Jan | - " - |
- Feedback and discussion of last rounds | |
27 | 14 | 22 Jan |
Simulation Game TopSim Applied
Economics |
- period 4 | |
28 | 14 | 23 Jan |
- " - |
- Feedback and discussion of last rounds we decided not to play period 5 |
|
29 | 15 | 29
Jan |
-> start 13:30 !! ends 16:00 room change to D 106 |
Simulation Game TopSim Applied Economics | please upload your presentations until Tuesday 16:00 !!
Simulation Game TopSim Applied Economics
- Final presentations of teams: (~ 15 min) |
30 | 15 | 30 Jan | Review and conclusion 25 The Balance of Payments and Exchange Rates 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
|
|
Simulation Game | Firm 1 |
Firm 2 |
Bank 1 |
Bank 2 |
Advocacy
groups / CWA |
Government |
|
names of students
|
Hatim |
Katharina |
Merlin |
Timon Mika |
Julia |
Kevin |
|
1. week Wed, 9 Oct (integrated in class) |
Review of Mankiw principles 5-7 and 8-10 (in class) Teamwork: Most important objective:
|
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint |
Read the text
about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint |
2nd week |
+ Teamwork IN class about exercises on chapter 14 and basics of economic policy |
Discussion of the "common good economy"
approach based on your research. - what are the functions of the CG balance? - describe some firms, universities and/or commCG balances |
Discussion of the "common good economy"
approach based on your research. - what are the functions of the CG balance? - describe some firms, universities and/or commCG balances |
Presentation of another alternative approach of Economics | Presentation of another alternative approach of Economics | Climate change and economic development. |
Climate change and economic development. e.g.: - carbon taxes: how they work + their impact - ideas of scientists / fridays ... for future |
30 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 |
06 Nov | Teamwork
about the
Joint Economic Forecast
Autumn 2018 that was published Upturn Loses Momentum – World Economic Climate Grows Harsher |
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) |
13 Nov | 15-1 |
15-2 |
15-3 |
15-4 |
15-5 |
15-7 |
|
The Council of Economic Experts delivered the annual report 2018/19 to the German government --Towards a Forward-Looking Economic Policy" Please read the Executive summary of the Annual Report 2017/18 |
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 |
|
27 Nov | ALL teams please prepare EoC-question 1 (ch 17) = letters -> + search the current conditions of the ECB: Main refinancing instrument, standing facilities, minimum reserve |
(a) 2 |
(b and c) 3 |
(d) 3 |
(e) 4 |
(f) 5 |
(g) 7 |
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) | |
All Teams please perform a regression
analysis for the consumption function for ... |
... the USA |
... France |
... Germany |
... England (/ GB) |
... Ireland |
... Spain |
|
EoC-question chapter 18 |
|||||||
EoC-question chapter 20 We might 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 2020 | 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: