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

Sa, 16 March 2019


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

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


- "Basic Concepts"
- Economics @ Wikipedia


Sa, 16 March 2019



- 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
. 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


Sa, 23 March 2019



Chapter 4: Markets in Action

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


Berlin, 19th April 2018
German Economy Booming – But Air is Getting Thinner

Press release with Summary and Key Forecast Figures


Sa, 23 March 2019


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.


    Review Microeconomics
-> What did we learn?

and your questions

 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"

  -- On April 23rd the "Memorandum" 2018 was published, check the links on the right (in German)

Arbeitsgruppe Alternative Wirtschaftspolitik - MEMORANDUM 2018

Preis der "schwarzen Null": Verteilungsdefizite und Versorgungslücken

Das MEMORANDUM 2016 wurde am 23. April 2018 veröffentlich; Hier können sie die Kurzfassung herunterladen.

Arbeitsgruppe Alternative Wirtschaftspolitik (auch: "Memorandum-Gruppe" bzw. "Memo-Gruppe") ->


Sa, 18 May 2019


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 IV: Domestic Macroeconomics

Chapter 9 : An introduction to the macro economy



Chapter 10: Measuring Macroeconomic Variables and Policy Issues

German National Accounting @DeStatis:
- Important economic indicators & publications
- current figures: "GERMAN ECONOMY 1st quarter 2017"
- GDP: 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 NNI and summary of National Income accounting

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

Current issues (in German) :
Arbeitsgruppe Alternative Wirtschaftspolitik - MEMORANDUM 2016
Europäische Union und Flüchtlingsmigration – Solidarität statt Chaos
Das MEMORANDUM 2016 wurde am 29. April 2018 veröffentlich; Hier können sie die Kurzfassung herunterladen.

- "Association of Three Leading European Economic Institutes" (sic): Economic Outlook and News
- Ifo Business Climate Germany


Sa, 22 June 2019



Chapter 10: Measuring Macroeconomic Variables and Policy Issues (brief overview)

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]

- Doughnut Economics (Ways to Think Like a 21st-Century Economist)
- Why it's time for 'Doughnut Economics' | Kate Raworth | TEDx
- 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

"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"



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


Sa, 29 June 2019



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

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

Key ECB interest rates and for an overview

Monetary policy: Inflation



International and Global Economics:

Data Sources:

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