will be updated in April)

World Economic Outlook - IMF - July 2024:

Global growth broadly unchanged amid persistent services inflation

Spring Report 2025

Between hope and fear: Economic weakness and opportunities of the fiscal package, bureaucratic obstacles and structural change

• Press Release
• Executive Summary
• 1. US Trade Policy Burdens the Economy - Fiscal Package Provides Impulses

Joint Economic Forecasts (english)       ------>

 On April 10, the Joint Economic Forecast Spring 2025 was published:

Joint Economic Forecast Spring 2025: Geopolitical Upheaval Exacerbates Crisis – Structural Reforms Even More Urgent

Further information:
- AI overview (26 May 25)
- Prognosen für Konjunktur in Deutschland 2025 und 2026 (business insider - in German)

lido ...

1) Warm up

2) Economics

Section I: Introduction

- 10 Principles of Economics (Mankiw) -> Reader 2025

(in class: Teamwork about Mankiws "Ten Principles of Economics" and part from B. Obama "The Audaciy of Hope" (p. 176-184)

Reader 2025

- Welcome.ppt
- "Basic Concepts"
- Economics @ Wikipedia 
- Social market economy (explainity® explainer video)

Basic Concepts of Economics
- Goals in Economics and Economic Policy
- Economic systems & Objectives of Economics / Economic Policy

14 April

class is online!

(from today on we (houses) play a Kahoot quiz)

register to Kahoot using your (nick) name ending with the first letter of your house, e.g:
 Peter-G, Fatima.P ...

Basic Concepts of Economics
- Goals in Economics and Economic Policy
- Economic systems and Objectives of Economics / Economic Policy

Begg & Ward
Chapter 1: Economics for Business

-> EconBiz.de -- Find Economic Literature (Service of ZBW)
  - Guided Walk - Video-Course - Academic-Career-Kit - Guides:
     + "Write your best paper" – a guide to academic writing
          for economics and business students (PDF-Guide)
     + Guidelines: Search and Evaluate Scholarly Literature
     + Guidelines: Citation (APA style) [pdf; 280 KB]

- OECD iLibrary: http://www.oecd-ilibrary.org/
- Web of Science: http://isiknowledge.com/wos

15 April

class is online!

Principles 5-7 from:
10 Principles of Economics (Mankiw) -> Reader 2025

Literature Management System -> ZOTERO

- Zotero at SUuB, our library
- Links Link Uni Bremen, Studytools
- Quick start guide
- Zotero Tutorial (video)   Important: -> please install the Zotero app and the Zotero Connector for your browser !!

(Presentation of the) possibilities of the University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases

Exercise: For your case study / presentation* you need to use - and quote correctly of course - different sources about the basic approaches / assumptions of Economics and esp. your topic. (see table below)
             They have to be academic sources!

22 April

class is online!

Finishing:
10 Principles of Economics (Mankiw) -> Reader 2025

Begg & Ward
        Chapter 1: Economics for Business
  Section II: Understanding Markets  
        Chapter 2: Consumers in the Market Place

Presentations:

• Klick HERE for further information about the presentation
• What makes a good presentation?

- Chapter 2: Consumers in the Market Place
       ->   ELASTICITIES (1)

Please recall that for today Mankiws: "Problems and Applications" are due (see table below)

Important: The test can only be taken at the university (in the PC pool) (I'll take a participants list, you must bring a photo ID), if you take the test from another place, it doesn't count.
      Tests take place in the first 30 minutes of Tuesdays class = from 8:30-9:00 (test takes 20 minutes)
      Tests are open book but closed net - you won't have access to the internet (except AULIS) and use of any electronic devices and AI are strictly forbidden!

Recall:
* aulis.hs-bremen.de
* your university username + password
* photo ID

- Chapter 2: Consumers in the Market Place
       ->   ELASTICITIES (2)

Oil Is Hitting Its Highest Level in Months - WSJ 4.4.24

- Chapter 3: Firms in the Market Place

Presentation of the House-homework (Mankiw Applications)

Test 1 (8:30
@HSB; PC lab)

Recall:
* aulis.hs-bremen.de
* your university username + password
* photo ID

- Chapter 3: Firms in the Market Place

- Chapter 4: Markets in Action  

- presentation 2b (02.4-02.5 El)
- presentation 3a - 03.3

- Chapter 4: Markets in Action  

Test 2

presentation 3b - 03.6

Section III: Competition and Profitability

- Chapter 5: Market structure & Firm Performance
Competition, Monopoly and the public interest (welfare)

please recall that you have to prepare the self-test

19 May

- Chapter 5: Market structure & Firm Performance (cont'd)
Perfect Competition

Market Structure & Firm Performance in Türkiye
by Prof. Dr. Sule Aydeniz, Yeditepe University, Istanbul

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

- Chapter 5: Market structure & Firm Performance (cont'd) Competition, Monopoly and the public interest (welfare)

- Chapter 6. Strategic rivalry
-> Oligopoy and Game Theory

(together in class)
-> Answer the questions on our Miro board:
- compute the equilibrium (5 min)
- "how does MR look like?"

(houses) -> What are the most important market structures in today's economy?
Ask an AI, discuss the matter in your house. -> share your prompt, the answer and your conclusions in Miro

videos:
- review of Profit Max, analyzing revenue TR, TC and Profit

- Monopoly v. PC in a nutshell
- more ...

Test 3

Recall:
* aulis.hs-bremen.de
* your university username + password
* photo ID
Should there be an issue about your test, inform me via email on the same day!

- Chapter 5: Market structure & Firm Performance (cont'd) Competition, Monopoly and the public interest (welfare)

- Chapter 6. Strategic rivalry
-> Oligopoy and Game Theory

to practise (individually):
Economics 1 Micro-MIDterm-Exam_WS17_30min
Economics 1 Micro-FINAL-test_SoSe18_30min <- Monopoly

Movie "A beautiful Mind" about John F. Nash:     "the best result will come if everyone does what is best for himself ... and the group" (bar scene)
In memoriam: - 'Beautiful Mind' mathematician John Nash killed in crash

- The prisoner's Dilemma
- "Split or Steal" and "From Stealing to Trust"

- presentation 2a (02.1 - 02.3)

presentation 7

- Chapter 6. Strategic rivalry
-> Oligopoy and Game Theory

Information about the
-> Presentations and debates of one alternative economic approach by the houses in the last two weeks

(see below in the rows from 12 June on)

Topics of test 4:
Begg & Ward chapter 5: Market Structure, Performance, Profit and Welfare in PC and Monopoly.
Chapter 6: Oligopolies, Game Theory

presentation 6

presentation 8

Please register for the alternative approaches !

- Chapter 6. Strategic rivalry
-> Oligopoy and Game Theory

- Chapter 7. Growth strategies
- Chapter 8. Governing business

Bundeskartellamt - Control of abusive practices - Ban on cartels (Cartel prosecution)
Information brochure: Effective cartel prosecution - Benefits for the economy and consumers - Leniency Programme
Deutsche Bahn AG to make changes to ticket sales - do you like a coffee?

Examples: 1) coffee? 2) Bundesliga 3) cars & steel 4) Deutsche Bahn.

10 June

room change
D 206

Section IV: Basics of MACROeconomics

- Chapter  9: An introduction to the Macro Economy

-> Is GDP really an apt measure of Welfare?

Measuring "Welfare":
- Refer to current analyses and forecasts about the state of the (German) Economy:
ask an AI and refer to the links above
- which critiques of the GDP concept do you see? Are there alternatives?

- 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)

 *** Evaluation ***
please let me know, what you think about this class (until 27 June)

- Chapter 5: Market structure & Firm Performance (cont'd) Competition, Monopoly and the public interest (welfare), Creative Destruction

- Chapter 6. Strategic rivalry
-> Oligopoy and Game Theory

Section IV: Basics of MACROeconomics

- Chapter  9: An introduction to the Macro Economy

LAST day to register for the alternative approaches ! (Bravo missing ?)

The formal requirements for the presentations are similar to those of the "big" presentations, except:
- still, a literature list is required, but the minimum ist only 4 academic sources without any minimum number of journals
- no literature appraisal required
- don't forget to deliver the complete sources for your approach (books, videos, webpages ...) (as usual: all in one list, alphabetically ordered)
- a research question showing your motivation / why you selected the approach is essential
- you have to initiate and moderate a class discussion, but no review questions are required

German National Accounting @DeStatis:
- Important economic indicators & publications (links unfortunately destroyed by Destatis)

- GDP to NNY and summary of National Income accounting

17 June

room change
D 206

- Chapter  9: An introduction to the Macro Economy

- Alternative Economic Approaches
- Measuring the Well-Being of countries
- YouTube search "measurement of well-being of countries"

 -> Is GDP really an apt measure of Welfare?

Measuring "Welfare":
ask an AI and discuss:
1) How is the concept of GDP used when trying to operationalize the concept of Welfare?
2) which critiques of the GDP concept do you see? Are there alternatives?
3) Refer to current analyses and forecasts about the state of the (German)

Now that we discussed National Accounting (GDP, ...) we'll ask ourselves:

Introductory videos:

- Brauchen wir Wirtschaftswachstum? (Do we need growth? - Arte, in German, English subtitles available)
- Können wir die Wirtschaft schrumpfen? (Can we shrink the Economy? - Arte, in German, English subtitles available)
- How can countries measure the well-being of their citizens? (TED institute)

Is GDP really an apt measure of Welfare
...quality of life, sustainable development ...?

-> Measuring WELFARE & SUSTAINABILITY

The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report - Sustainable Development in Germany" + "Indicator Report 2021: Sustainable Development in Germany"

Doughnut Economics (Ways to Think Like a 21st-Century Economist)
- Why it's time for 'Doughnut Economics' | Kate Raworth | TEDx
- more information on: www.kateraworth.com
- Re-Writing (Neo-Liberal) Economics

OECD: "Beyond GDP" Joseph E. STIGLITZ, Jean-Paul FITOUSSI and Martine DURAND

"Descentrar el producto interno bruto (PIB) - Bienestar, cuidados y tiempo" (Iliana Vaca Trigo y Camila Baron), también en ingles:
"Decentring GDP - Well-being, care and time" United Nations publication 2022

Presentations and Debates:

* Alfa: Human Development Index

* Bravo: GNH (Gross National Happiness)

* Charlie: SDGs

please upload your presentation - as usual - the day before up to 16:00 !

Test 6

presentation 9

Individual Assessment
- It's just water... or is it?

Alternative Economics Approaches

- Chapter 10: Measuring Macroeconomic Variables and Policy Issues

"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 and social progress 2009
- Joseph Stiglitz - Problems with GDP as an Economic Barometer
- Amartya Sen: Beyond GDP, measures of welfare and sustainability (2/7 ..) 

7 July

class is online!

Presentations and Debates:
 

* Delta Ecological economics

* Echo Doughnut Economics

* Foxtrot Economy of the common good

please upload your presentation - as usual - the day before up to 16:00 !

Other Alternative Economic Approaches

Fridays, Economists, Scientists ... for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook +
+ New Economics Foundation + (you can also check this list by ECG)

Degrowth – what's behind the economic theory and why does it matter right now?
Niko Paech: Grundzüge einer Postwachstumsökonomie

Economics of Happiness (Glücksforschung), e.g.:
Karlheinz Ruckriegel

and many more ideas and topics please

8 July

class is online!

Outlook: Macroeconomics and Economic Policy

More on Measuring Macroeconomic Variables and Policy Issues

Teamwork in class (10 minutes + 5 minutes presentation):
Current Macroeconomic situation
- A+B
Joint Economic Forecast Spring 2024 (March)
- C+D
Spring Report Council of Economic Experts (May)
- E+F
ifo Economic Forecast Summer 2024 (June)

-> AULIS group for the coming winter term 25/26
=> you will be able register for a chapter (some chapters will have to be presented twice, we discuss this in the winter term)

(the class / webpage of last year, refers to another book - so the time schedule for our class in the coming winter term is not yet available - it will be updated in September)