That's  me ;-)

Economics & Statistics

 Winter term 2020/21 -  June 2020
Economics II: Macroeconomics and Economic Policy -- Winter Term 2020/21
BIM 3rd semester + International Students

Basic Information

  • 'The assessment is a Learning Portfolio. Please klick here for the Assessment
  • Required parts of the Learning Portfolio will be discussed at the beginning of the semester.
  • Klick HERE for further information about the presentation
  • 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 18 December.

Literature:

Student Platform Aulis:

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



No
week
date * presentation Unit - topics (Preliminary Schedule) Material
1
1

(all dates are Mondays now as we don't know our class times yet)

02 Nov

preliminary dates !!

WHY Economics?
review and new aspects

Review of Mankiw principles 5-7 and 8-10 /
Economic dogmata: Theories - Markets - Governments - People

Let's talks about alternatives:
Teamwork (MÜ): Most important objective(s) - and its consequences:

 -> Reader BIM 2019 (to be updated in October)

Annenberg Video @ learners.org:
5. John Maynard Keynes

- How useful is economics? -> Nobel Laureate Daniel McFadden
- Why inequality matters | Nobel Laureate Joseph Stiglitz

2
1
   

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)
- Why it's time for 'Doughnut Economics' | Kate Raworth | TEDx
- www.kateraworth.com/
- Re-Writing (Neo-Liberal) Economics

Scientist for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook

Warm-up questions ;-)
-> Socrative, waiting for the teacher

GapMinder --> Factfulness (the book)
- http://www.gapminder.org/ignorance

- Rosling@Zeitgeist (2007)
- today Google Public Data Explorer

3
2
09 Nov  

Part D: Foundations of Macroeconomics
14 The National Economy
National Accounting; The circular Flow of Income

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

-> 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“

4
2
    pres. 15 

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

Critiques of GDP


+++ OECD Centre +++
----------------------------------------------
- How's Life? 2020: Measuring Well-being
- How`s Life? -- Germany
- OECD Better Life Index (map)

15 Macroeconomic Issues and Analysis: an Overview

- 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 ...
-> Report of the commission on the measurement of economic performance et social progress 2009
- Joseph Stiglitz - Problems with GDP as an Economic Barometer
- Amartya Sen: Beyond GDP, measures of welfare and sustainability (2/7 ..)

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
16 Nov pres. 16

15 Macroeconomic Issues and Analysis: an Overview

Balance of Payments:
- Current German BoP (German)
- OECD Stats

Part E: Macroeconomics
16 Macroeconomics Issues, Debates and Controversies

YOU are invited to participate: EFA-Symposium 2020

6
3
   

-- might be no class due to EFA-Symposium 2020 --

 

 On September 27 2019 the Joint Economic Forecast Autumn 2019 was published:

Upturn Loses Momentum – World Economic Climate Grows Harsher

Press release with Summary with Key Forecast Figures

    

7
4
23 Nov  pres. 17

17 Short-run Macroeconomic Equilibrium
Keynes
' Income-Expenditure Model

Annenberg Video @ learners.org:
5. John Maynard Keynes
- Data for Consumption Function @Destatis (open "Chain-linked volume data and contributions to growth" at end of page (+ incl. regression)
- Annenberg Video @ learners.org: 5. John Maynard Keynes

Example for the "Multiplier rounds"

8
4
    17 Short-run Macroeconomic Equilibrium
Keynes
' Income-Expenditure Model

Fiscal Policy and Balanced Budget Multiplier by Haavelmo (-Theorem)
 

-> 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?

9
5
30 Nov  pres. 18

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):
- Übersicht: Konjunkturprognosen für Deutschland - Die Vorhersagen der Wirtschaftsschätzer (Tagesschau)
- http://www.tagesschau.de/wirtschaft/jahresgutachten-bundesregierung-101.html

10
5
   

18 Money and Interest Rates
-> European Central Bank ECB

 Main Source : European Central Bank ECB, Educational Sources:
- The European Central Bank (ECB) - 9 Videos

11
6
07 Dec

pres. 19

18 Money and Interest Rates
-> European Central Bank ECB

- definitions of monetary aggregates - MFI information - Inflation
- ppt used in class
- leitzinsen.info
12
6
  pres. 20

19 The Relationship between the Money and Goods Markets

 

13
7
14 Dec

Climate change

Critiques of GDP:
ECG

Global #WeekForFuture #ClimateStrike
Climate week 25-29 November 2019
Global Strike 4 Future - November 29, 2019
(Germany: Tagesschau or Vorlesungen zum Klimaschutz an der Alanus Hochschule)

Planetary Emergency Plan (Club of Rome)

19 The Relationship between the Money and Goods Markets 

WTO:
- Carbon Pricing (World Bank), Carbon Pricing
- State and Trends of Carbon Pricing 2019
-
Report of the high-level commission on carbon prices

Economy for the Common Good
A Common Standard for a Pluralist World?
International Conference at Hochschule Bremen: Programme

14
7
  pres. 21

18 Money and Interest Rates
-> European Central Bank ECB

19 The Relationship between the Money and Goods Markets 
20 Fiscal and Monetary Policy:
IS/LM model
(ch. 19.3; 20.3)

Economic Policy issues
- Fiscal and Monetary Policy in the IS-LM model
- back to Schools of Economic Thought 

- The Liquidity Trap by Roger K. Strickland (YouTube)
- Please read Box 20.2 "Riding a Switchback"

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

15
8
21 Dec

pres. 22

Economic Policy issues
- Fiscal and Monetary Policy in the IS-LM model
- back to Schools of Economic Thought 

brief overview about:
21 Aggregate Supply, Unemployment and Inflation)
22 Long-term Economic Growth
23 Supply-side Policies
 

Simulation Game TopSim Applied Economics
Allocation of teams and roles -> see table below.
Please download, (print) and READ the material available in our AULIS-Group - and in your teams' dropbox directory!

Simulation Game TopSim Applied Economics - Introduction by the lecturer
- each team please select one contact person. I need the mobile phone numbers of these contact persons.

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

16
8
HAPPY new Year 2021!

pres. 23

 

22 Long-term Economic Growth

23 Supply-side Policies  

Limits to Growth
Wiki: First edition (1972), 2004 Limits to Growth: The 30-Year Update A synopsis to: Limits to Growth: The 30-Year Update- all by Dennis Meadows and others. Presentation of 2005.
- Talk by Dennis Meadows at the Population Institute (video part 1)
- Talk by Dennis Meadows at the Population Institute (video part 2 - start at 5.50)
 

The first university in Germany to create a Common Good Balance ...

17
9
11 Jan

pres. 24

Part F: The World Economy

24 International trade  

 
18
9
  pres. 25 25 The Balance of Payments and Exchange Rates 

 

19
10
18 Jan

 

pres. 26

 

 

25 The Balance of Payments and Exchange Rates 

 

Simulation Game TopSim Applied Economics:

 

 

 

 

Workshop on Negotiation skills
(preparation for the simulation game)

Simulation Game TopSim Applied Economics:
Pre-Presentation by teams
- (each team selects one expert for each sector, so that each expert group consists of 6 people NO expert teams ...)
  all teams present their sector
~10 Minute presentation to the whole group about:
o Who are you? Which is our role in the economy? What are our objectives?
o Which decisions need to be made?
o What effects are expected on your own sector?
o What effect do these decisions have for the economy as a whole?

You can (and should!) ask questions about your team's/sectors's topics/decisions (check their office hours or make appointments via email)
- companies: Prof. Dr. Stephan Form, Stephan.Form@hs-bremen.de
- banks: Prof. Dr. Carola Spiecker-Lampe, Carola.Spiecker-Lampe@hs-bremen.de
- CWS, government: Peter Schmidt,
Peter.Schmidt@hs-bremen.de

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).

20
10
 

pres. 27

26 Global and Regional Interdependence

27 Economic Problems of Developing Countries

 
21
11
25 Jan

Simulation Game TopSim Applied Economics 

We don't have much time today => you have to be prepared =
- HANDBOOKs available (printed or pdf)
- KNOW your roles and tasks => we can start the negociations sooon
- at least one team member has the participant SORFTWARE INSTALLED on her/his computer (Windows!)
- make sure you use the DropBox APP on your computer (locally, not only in web-browser)

Simulation Game TopSim Applied Economics 1st round (= period 2)

22
11
    - " - - Feedback and discussion of results and experiences of the 1st round (= period 2)
23
12
01 Feb   Simulation Game TopSim Applied Economics
- period 3
24
12
   
- " -
- Feedback and discussion of last rounds
25
13
08 Feb   Simulation Game TopSim Applied Economics
- period 4
26
13
   
- " -

- Feedback and discussion of last rounds

we decided not to play period 5

27
14
15 Feb

 

Simulation Game TopSim Applied Economics

please upload your presentations until Tuesday 16:00 !!

Simulation Game TopSim Applied Economics - Final presentations of teams: (~ 15 min)
- basic results of your sector
- basic results for the economy as a whole
- what did you learn for your sector?
- what did you learn about Economics?
- what are advantages and disadvantages of the simulatioin game TopSim?
- do you recommend to use TopSim in future classes / what should be changed?
- ... (+ your own aspects!)
these questions are not a structure to be followed point after point but aspects that should help you to prepare your concluding presentation containing your "message" about the simulation game.

28
14
   

Review and conclusion
+ YOUR questions

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
- "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

 

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
Teams:

Date:

 


All students

Alpha  
Beta  
Gamma  
Delta  
Epsilon  
Zeta
  Simulation Game
Firm 1
Firm 2
Bank 1
Bank 2
Advocacy groups / CWA
Government

names of students

 

 


Carolin
Yannick
Sara
Laura L.
Lisa E.
Mert
Davronbek

Laura K.
Lara
Kira
Annalena
Arisa
Petchpraew
Julia
Lisa L.
Jasna
Nadine
Rebekka
Nurbek

Charlotte
Marcel
Simon
Lennart
Jonathan
Matze
Joschka
Felix
Viktoria
Luise
Miruna
Marie
Katja
Marcella
Meike
Imke
Floriane
Isabel
Maria
Yvanna
1. week
~2 November
(integrated in class)

Review of Mankiw principles 5-7 and 8-10 (in class)

Teamwork: Most important objective:
What if the common good was the goal of the economy? | Christian Felber (TEDxVienna) [up to 12:45]
Text from
Reader BIM 2019

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
~9 November

 

 

+ 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.
e.g.:
- carbon taxes: how they work + their impact
- ideas of scientists / fridays ... for future

Climate change and economic development.
e.g.:
- carbon taxes: how they work + their impact
- ideas of scientists / fridays ... for future

~16 November

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 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
~ 23 November 

Teamwork about the Joint Economic Forecast Autumn 2018 that was published
on September 2019 the Joint Economic

Upturn Loses Momentum – World Economic Climate Grows Harsher

Press release with Summary with Key Forecast Figures

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)

   
 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?
Do you agree?

Important results domestic economy

What are the three most important messages?
Do you agree?

Monetary policy

What are the three most important messages?
Do you agree?

Euro Area

What are the three most important messages?
Do you agree?

Globalisation

What are the three most important messages?
Do you agree?

Greenhouse gas reduction

What are the three most important messages?
Do you agree?

Demography, structural change and the labourforce

 

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 ...
(You might find data sources at the Statistische Bundesamt, ECB, IMF, ... There are also some links below)

... 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/Feb 2021 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

 

Top

Final Test 2019 (40 minutes.- might incl. MC questions)
- topics as discussed last week (Contents_of7th_edition.doc -> Macro)
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

- example from 2015/16 (30 minutes - recall that ours is 40 minutes)

Data Sources:

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)

 Interesting Economics-related links (arranged by Christopher Langelage - in memoriam)

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