Prof. Dr. Peter Schmidt

.
Economics & Statistics

Springterm 2019


  ECONOMICS as a Business Environment (MBA/EAM)

Basic Material / Links:

   

Nr Date Teamwork tasks: please prepare (for the session) Unit / contents Material / Remarks / Exercises
1

Sa, 16 March 2019

morning

Team / Principle:
(teamwork in class- short presentations of 5 up to 10 minutes)
- content of your principles
- own examples

Teamwork in class
1. Mankiw Principles 1 - 3
2. Mankiw Principles 4 - 6
3. Mankiw Principles 7 - 8
4. Mankiw Principles 9 - 10
5. from B. Obama "The Audacity of Hope" (p. 178-185 for the teamwork)

Section I: Introduction

- 10 Principles of Economics (Mankiw) [Reader]
- Basic Concepts of Economics
- Goals in Economics and Economic Policy
- Economic systems and Hierarchy of goals

Teams:
1: Daina, Klemens, Thomas
2: Joana, Robert, Andres
3: Thomas, Jonas, Jens
4: Martial, Manon, Jannik
5: Niels, Pelle

Welcome.ppt

- "Basic Concepts"
- Economics @ Wikipedia
 

2

Sa, 16 March 2019

afternoon

 

- 10 Principles of Economics (Mankiw - review, esp. 5-7) [Reader]

Chapter 1: Economics for Business
(chapters refer to
"Economics for Business" by David Begg und Damian Ward)

Hierarchy of goals in market economies
- "Wall Street" @ Wikipedia

- See also the
quotations of T. Friedman

 

 

3 Fr, 22 March 2019

Team homework:
(please prepare presentation - short presentations = 5 up to 10 minutes are requested - thank you)

Mankiw: "Problems and Applications":
1. 13 - 15 + one story for 17
2
. 10 - 12 + one story for 17
3. 7 - 9 + one story for 17
4. 4 - 6 + one story for 17
5. 1 - 3 + one story for 17

Section II: Understanding Markets
- Chapter 2: Consumers in the Market Place

- Chapter 3: Firms in the Market Place (to be discussed whether we talk about this chapter)
Chapter 4: Markets in Action

review towards ... - "Wall Street" (1987 Wikipedia)
 

(chap. 3 - "The Production Process" )
see also the Excel file with some Figures from the book

4

Sa, 23 March 2019

morning

 

Chapter 4: Markets in Action

 
5

Sa, 23 March 2019

afternoon

Exam preparation: We can briefly discuss some exercise questions, that you can prepare if you want:
- Micro Exam (WS 06/07): tasks 2 and 3 (hints)

- MBA Exam (Oct 08): task 5 (here some (very few) hints to this exam)
- compute the CS and PS for the monopoly task
see also the Excel file with some Figures from the book

Section III: Competition and Profitability
Chapter 5: Market structure and Firm Performance
    Competition, Monopoly and the public interest.

 Movie "A beautiful Mind" about John F. Nash
- 'Beautiful Mind' mathematician John Nash killed in crash
- Famed 'A Beautiful Mind' mathematician John Nash, wife, killed in N.J. Turnpike crash
"Split or Steal" and "From Stealing to Trust"

6

Sa, 18 May 2019

morning

Exam (9:00-10:00): The topics covered will be discussed in class. "preview":

- Basic problems and concepts of Economics, goals, systems
- Mankiws Principles
- Begg/Ward:
- Microeconomics chap 1, 2, 4
(NO Macroeconomics chap 9 - 11 )

 

Example: exam MBA May2016 (and numerical results)
(only limited content - microeconomics)
 

 

 

Section III: Competition and Profitability
Chapter 5: Market structure and Firm Performance
    Competition, Monopoly and the public interest.

 

    Review Microeconomics
-> What did we learn?

and your questions

 

  --

Berlin, 4 April 2019
Joint Economic Forecast Spring 2019
Significant Cooling of the Economy – Political Risks High

Press release with Summary and Key Forecast Figures

  
  --

On April 29the "Memorandum" 2019was published, check the links on the right (in German)

Klimakollaps, Wohnungsnot, kriselnde EU

Arbeitsgruppe Alternative Wirtschaftspolitik - MEMORANDUM 2019

Klimakollaps, Wohnungsnot, kriselnde EU

Arbeitsgruppe Alternative Wirtschaftspolitik (auch: "Memorandum-Gruppe" bzw. "Memo-Gruppe") -> http://www.alternative-wirtschaftspolitik.de

7

Sa, 22 June 2019

morning

Discussion of the Joint Economic Forecast Spring 2019
Significant Cooling of the Economy – Political Risks High

 

 

 

 

 

 

 

 

 

 

 

Section IV: Domestic Macroeconomics

Chapter 9 : An introduction to the macro economy

 

Chapter 10: Measuring Macroeconomic Variables and Policy Issues

Measuring WELFARE & SUSTAINABILITY
- The Economy for the Common Good
- What if the common good was the goal of the economy? | Christian Felber (TEDxVienna) [up to 12:45]
- Common Good Matrix 5.0
- Workbook ECG Balance Sheet 5.0

- 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

 

Chapter 11: Expenditure and Fiscal Policy
History of economics thoughts and policy / Economic Theory and Policy:
- Keynesian Cross,
- Multiplier, Balanced Budget

- German Statistical Bureau - DeStatis
- current figures: "GERMAN ECONOMY 2018"
- GDP: What does the indicator describe? + How is the indicator calculated?
(In German: "Wichtige Zusammenhänge im Überblick".)
(sorry Links don't work at the moment as the Statistical Bureau closed half their webpage German National Accounting @DeStatis: and - Important economic indicators & publications)

- 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 NNI and summary of National Income accounting

Price index in Germany: (Statistisches Bundesamt)
- Price Kaleidoscope (Basket)
- Basket of goods and services and weighting pattern
 

"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 "How to measure well-being"

8

Sa, 29 June 2019

afternoon

 

Chapter 11: Expenditure and Fiscal Policy
History of economics thoughts and policy / Economic Theory and Policy:
- Keynesian Cross,
- Multiplier, Balanced Budget

Chapter 12: Money, Banking and Interest
- Money and the Banking system,
- Monetary Policy: the ECB

Further topics (see also material on the right side):
Macroeconomic equilibrium IS/LM-Model

Chapter 13: Inflation, Output and Economic Policy
Chapter 14: Supply Side Policies

Keynesian theory / application:
- Consumption Function
- Annenberg Video @ learners.org: 5. John Maynard Keynes

 

ECB homepage - definitions of monetary aggregates - MFI information - Inflation Monitor - see also: Leitzins.info
videos (YouTube channel): The History of the European Central Bank - Chapter 5: Monetary Policy Instruments -

Key ECB interest rates and Leitzinsen.info for an overview

Monetary policy: Inflation

Links:

International and Global Economics:

Data Sources:

Bremen University of Applied Sciences
Department of Business Studies
Economics & Statistics