Economics & Statistics

22 January 2013

Section I: Introduction

- 10 Principles of Economics (Mankiw) [Reader]

(In classs: Teamwork about Mankiws "Ten Principles of Economics" and part from B. Obama "The Audaciy of Hope" (p. 176-184) (also see the current debate in the Economist)

Teams: 
Homework for next Monday (see table below)

Welcome.ppt

- "Basic Concepts"
- Economics @ Wikipedia 
- Centrally planned <-> Market Economy

Basic Concepts of Economics
- Goals in Economics and Economic Policy
- Economic systems and Objectives of Economics / Economic Policy- Chapter 1: Economics for Business

- Def_Elasticity
- 3_Types_of_Elasticities
- Matrix_Types_of_Goods

(ch. 2 Consumers surplus ...)

- Chapter 3: Firms in the Market Place 

- Chapter 4: Markets in Action 

- Chapter 5: Market structure and Firm Performance (cont'd)

Competition, Monopoly and the public interest (welfare).

Competition, Monopoly and the public interest (welfare).

(briefly finishing: Oligopoy and Game Theory
& Chapter 8. Governing business)

Section IV: Domestic MACROeconomics
Chapter 9 : An introduction to the macro economy

German National Accounting @DeStatis:
- Important economic indicators & publications
- Press release (August 2012): "Gross domestic product in 2nd quarter of 2012: moderate increase of +0.3%"
- current figures: "GERMAN ECONOMY 2nd quarter 2012"
- Gross Domestic Product: What does the indicator describe? + How is the indicator calculated?
(In German: "Wichtige Zusammenhänge im Überblick".)

- Eurostat with National Accounts
- Source OECD & ILibrary - The OECD's Online Library of Statistical Databases, Books and Periodicals (accessible from the campus net - or via VPN)

- GDP to NNY and summary of National Income accounting

•  Annenberg Video @ learners.org:
  5. John Maynard Keynes
• ECB homepage - videos - presentations - definitions of monetary aggregates - MFI information - Inflation Monitor - see also: Leitzins.info

 Measuring WELFARE
and SUSTAINABILITY

(see homework below)

"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 by the "Stiglitz-Sen-Fitoussi commission" 2009

The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report 2012: Sustainable Development in Germany", also see "Wie misst man Wohlstand?"

Video about economic approaches: "60 Second Adventures in Economics"

 Main Source : European Central Bank ECB, Educational Sources:
- videos and presentations
- definitions of monetary aggregates - MFI information - Inflation
- ppt used in class
- leitzinsen.info

 Happy new year to all of you !

MoneyMarket_Transmission_creation.jpg (photo from the board)

 Chapter 13: Inflation, Output and Economic Policy

(Chapter 14: Supply Side Policies)

• Joseph E. Stiglitz: "Globalization and Its Discontents"
  - Article of Stiglitz @american.prospect
  - Homepage Stiglitz
  - Joseph Stiglitz and Kenneth Rogoff discuss: Globalization and Its Discontents (World-Bank Video 63 Min.)
• www.gapminder.org

Names:

1-3

Question 2

Exercise 2 (a)

Question 3

Exercise 2 (b)

Question 6

Exercise 2 (c)

Question 8

Exercise 2 (d)

Question 9+10

Exercise 2 (e)

Exercise 3

We will do some old exam tasks in class together...
Microeconomics WS 07/08 EFA 3 (English) (60 ! min)
Microeconomics WS 06/07 EFA 3 (English) (60 ! min)
Microeconomics WS 05/06 EFA 3 (English) (90 min)
+ please read the article:

An Antitrust Brain Teaser for Google: (doc)
- What measures do antitrust authorities use to determine whether consumers are harmed by monopolies? Consider Google.
- Are consumers harmed if Google places information provided by its own companies at the top of search output (for example, Zagat's information when searching for restaurants)?

03 / 12  

Critiques of GDP - Measuring Sustainable Development

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 (~ 5-10 min.) summary of two recommendations -------->

In the Executive summary each recommendation is described in one paragraph - but you also find more information in the more detailed part of the report or/and other sources.

Recommendations 1 and 2

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. You should use a time series with as many observations as possible. The dependent variable is the final consumption of the households, the independent variable is the disposable income / or national income as a substitute)

End of Chapter questions from Begg/Ward (chapter 11)

+ all students (individually!) please prepare exercise 2