Economics & Statistics
Winter term 2021/22 - 23 January 2022
|
Economics & Statistics Winter term 2021/22 - 23 January 2022 |
ECONOMICS I -- Introduction to Economics, National Accounting
and Microeconomics -- EFA 3rd
semester WS
2021/22
|
Additional Information:
Basic Information
Literature
Interactive Participation
Preliminary schedule: (there may be changes to the schedule during the class; the exact dates will be published once the timetable is published) |
7th. ed.: |
| No | week | date / week starts: | presentation | Unit - topics (Preliminary Schedule) | prepare for this session | Material |
Current Issues |
|
Joint
Economic MEMORANDUM
2021 |
Crisis Is Gradually Being Overcome – Align Action with Lower Growth
|
SHAPING THE TRANSFORMATION: EDUCATION, DIGITALISATION AND SUSTAINABILITY
Further information
about this topic (in German): |
||
1 |
1 |
18 Oct |
Introduction: Basic problems (In classs: Teamwork
(houses) about Mankiws
"Ten Principles of Economics" & |
(ggf.
Einstieg auf Deutsch mit EFA-Themen: - eure Fragen - Studienkommission - Symposium - wer noch nicht hat, bitte an der unverbindlichen Vor-Abfrage für die Auslandsstandort 2022/23 teilnehmen, Danke. |
-
Welcome.ppt |
|
2 |
1 |
-- " -- | PART
A: INTRODUCTION |
read 10 principles,
prepare tasks for ME (=Module Exercise) |
- Hierarchy
of goals in market economies Please use the online resources, tests and case studies on the Sloman webpage (see above) |
|
3 |
2 |
25 Oct | (no pres. 1) | Mankiws
"Ten Principles of Economics"
Outlook
to Part D: in
ME part (see table below): |
We are going to finish the 10 principles of Economics that everyone has read! => please review the Miro Board Feel free to prepare questions!
|
Review:
Academic Literature & Library RefWorks: Example from another class: Corrected Version of a Reference List |
4 |
2 |
-- " -- | Houses
please prepare:
14 The National
Economy
|
We are going
to discuss chapter 14 Watch the following
screencasts: We'll discuss 14.2 the circular flow of income in class and derive the the (three ways of) measurment of the GDP (14.3) |
German National
Accounting @DeStatis: Important
economic indicators & publications
- GDP to NNY and summary of National Income accounting - Eurostat
with National
Accounts |
|
5 |
3 |
1 Nov | 14 The National
Economy Critiques of GDP: SUSTAINABILITY Global
goals for sustainable development
+++ OECD
Centre +++
|
We are going to finish the 10 principles of Economics that everyone has read! => please review the Miro Board Today we'll discuss National Accounting (GDP, ...) and afterwards are going to ask ourselves: Is
GDP really an apt measure of Welfare ECG Economy
for the Common Good (GWÖ): Doughnut
Economics (Ways to Think Like a 21st-Century Economist) Other aspects of
Economic theory: |
- 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 ... The German Statistical Office (DeStatis) publishes Environmental indicators and also an "Indicator Report - Sustainable Development in Germany" + "Indicator Report 2021: Sustainable Development in Germany", OECD: "Beyond GDP" Joseph E. STIGLITZ, Jean-Paul FITOUSSIand Martine DURAND |
|
6 |
3 |
-- " -- | 15 Macroeconomic Issues and Analysis: an Overview Unemployment: Price
Stability Balance
of Payments: |
- Aggregate
demand and supply and the price level German balance of payments in 2020: Please read page 17 (18) and the "Major items of the balance of payments" p. 29/30 |
Topics
of our first test • Mankiw principles 1-7, esp. the Economic dogmata / Different viewpoints: Neo-Liberal <> Interventionists • Hierarchy of goals in (social) market economies • Chapter 14: Definitions about GDP, components * MC in the presentation * Simple calculation of GDP Basic ideas of Doughnut Economics |
|
7 |
4 |
8 Nov | test 1 The tests take place at the end of the second block = 15:30 (available until 16:00, work-time 20 minutes) |
Balance of Payments: |
- Aggregate
demand and supply and the price level German balance of payments in 2019: Please read page 17 and the "Major items of the balance of payments" p. 28 |
Review Introduction and National
Accounting - YOUR questions |
8 |
4 |
-- " -- | -- " -- |
(team
work during module exercise; It's not about a comprehensive presentation of the topics, but you are invited to tell the class about issues _you_ find interesting) |
(just a reminder: there are many textbook-resources available online) --> Link to chapter 2 |
|
9 |
5 |
15 Nov | *** This class (and only this one) will be ONLINE, Zoom Link will be in AULIS *** | PART B: FOUNDATIONS OF MICROECONOMICS 2: Supply and demand (2.1 and 2.2) |
The
Demand Curve |
|
10 |
5 |
-- " -- | -- " -- | 2: Supply and demand | - The Market Equilibrium | Topics
of test 2: |
11 |
6 |
22 Nov | 15:30 test 2 |
3: Markets in Action -> Elasticity |
-
Elasticity: Introduction (mp4) |
|
12 |
6 |
-- " -- | (no Pres. 2) |
3: Markets in Action -> Elasticity | (we will not
dicuss supply elasticities explicitely, but this video might be helpful
anyway - Elasticity: Price elasticity of supply (mp4) - Elasticity: Price elasticity and time (mp4)) - Incidence of taxation: The effect of indirect taxes on market price and quantity (mp4) - Incidence of taxation: Elasticity and the incidence of taxation (mp4) |
25. - 26. Nov
ALL EFA students have to attend the -> EFA-Symposium |
13 |
7 |
29 Nov |
Pres. 3 |
3: Markets in
Action -> Elasticity
PART C: MICROECONOMICS |
- Speculation
(mp4) - Utility
analysis: Utility (mp3) |
External links:
ERS Glossary, Price Elasticity of Demand, Income Elasticity, Excel-File with empirically measured Elasticities (xls 13 MB, zip 1,3 MB) from Defra |
14 |
7 |
-- " -- |
4: Background to demand |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book (-> chapter 5) |
Topics of our third test • chapter 2 complete |
|
15 |
8 |
|
Pres. 4 (no Pres. 5)
|
-- " -- (catching up) 5: Background to
supply |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book |
|
| 16 |
8 |
-- " -- |
15:30 |
5: Background
to supply |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
17 |
9 |
13 Dec |
5: Background
to supply |
Please watch the
relevant videos ("Audio animations") in the textbook
resources of our book: - Perfect competition: Introduction - Perfect competition: Short-run supply curve of the firm under perfect competition - Perfect competition: The industry supply curve under perfect competition |
Review of old exams |
|
18 |
9 |
-- " -- | 6: Profit maximising
under perfect competition and monopoly |
Please watch
the relevant videos ("Audio animations") in the textbook
resources of our book: |
Topics of our test 4 |
|
19 |
10 |
20 Dec |
Pres. 6 test 4 |
6: Profit maximising
under perfect competition and monopoly |
Please watch the
relevant videos ("Audio animations") in the textbook
resources of our book - Monopolistic competition - Monopolistic competition: long-run equilibrium - Oligopoly |
|
20 |
10 |
-- " -- | 7: Profit maximising under imperfect competition | Please watch
the relevant videos ("Audio animations") in the textbook
resources of our book |
... and why not enjoy: Deck the Halls with Macro Follies | |
21 |
11 |
10 Jan |
HAPPY new Year 2022! (no Pres. 7) |
7: Profit maximising
under imperfect competition Oligopoly -> Game Theory |
Please
watch the relevant videos ("Audio animations") in the textbook
resources of our book |
-
Movie "A
beautiful Mind" about John
F. Nash Bundeskartellamt
- Control
of abusive practices - Ban
on cartels |
22 |
11 |
-- " -- | (7) ... imperfect competition - Oligopoly -> Game Theory 8: Alternative theories of the firm |
Review / Repetition and questions - chapters 4-7 (and also 1 (Mankiw) - 3) |
• chapter
6: |
|
23 |
12 |
17 Jan | Pres. 8 test
5 |
8: Alternative
theories of the firm |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
24 |
12 |
-- " -- | Pres. 9 | 9: The theory of distribution of income | Please watch the relevant videos ("Audio animations") in the textbook resources of our book | Topics
of our test 6 whole chapter 6: incl. 6.3 Monopoly (Welfare effects) • general review: principal objectives of this class. Welfare: measurement and discussion at different topics of the class |
25 |
13 |
24 Jan | (no Pres. 10) test 6 |
(7)
... imperfect competition -
10: Inequality, poverty and policies to redistribute incomes |
----------------------------------->
Please watch the relevant videos ("Audio animations") in the textbook resources of our book |
-
Movie "A
beautiful Mind" about John
F. Nash Bundeskartellamt
- Control
of abusive practices - Ban
on cartels |
26 |
13 |
-- " -- | pres. 11 | 11:
Markets, efficiency and the public interest |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book |
|
27 |
14 |
31 Jan | Pres. 12 (recall: test 6 moved to 24 January) |
12. Environmental Policy | Please watch the relevant videos ("Audio animations") in the textbook resources of our book | The German Statistical
Office (DeStatis) publishes Environmental
indicators e.g.: We discussed the
topics for the exam in class. The resulting file "Contents_of7th_edition
EFA Micro.doc" will be available in our AULIS group. |
28 |
14 |
-- " -- | Pres.
13 Really maximizing the Well-Being of all: "The Economy of the common good" |
Review,
questions + outlook: 13. Government Policy towards Business |
Review
and conclusion + YOUR questions Please watch the relevant videos ("Audio animations") in the textbook resources of our book |
Some Videos
"Fight of the Century" / Fear
the boom and the bust Videos about economic approaches: "60 Second Adventures in Economics" (Open University) |
review 2019 Climate change Critiques
of GDP:
|
Global
#WeekForFuture #ClimateStrike Planetary Emergency Plan (Club of Rome) 19 The Relationship between the Money and Goods Markets |
WTO: Economy for the Common Good |
The "Module Exercise"
takes place every week <45-90 minutes every week integrated into our
class on Mondays > We formed 6 HOUSES which
are assigned tasks for the next session and is expected to present the results
(=prepared as joint homework)
The module exercise is part of your individual workload, it isn't marked
and the lecturer won't deliver new information; he will only moderate the
sessions. The tasks of the module exercise normally refer to the topics
discussed in the last week(s). The numbers in the table below normally refer
to the chapter in the textbook (Sloman: "End of chapter questions").
At the end of the module exercise there is room for general questions about
the topics, terms, ... .
The exercises discussed in the module
exercise are relevant for the exam. If
the students deliver results or approaches to the solution, we'll discuss
the correct solution in class. If no approaches are presented, the task
will not be discussed in class but nevertheless stay relevant for the exam.
|
|
Alfa |
Bravo |
Charlie |
Delta |
Echo |
Foxtrot |
|
| Names of students:
|
Sait |
Anton Gideon Ayite Konstantinos Tom |
Karen Ines Dilan Frida Tony |
Mirjeta Hauke Briseida Vinda Laura |
Tobi Lukas Dennis Nozomu Yesuonori Fatlind |
Ricardo Melany Lisa Greta |
|
| 18 Oct (in class) | Mankiws
"Principles" & - presentation in class: |
1-2 |
3-4 |
5-6 |
7-8 |
9-10 |
Obama
text |
please prepare for: 25 Oct
|
Mankiw:
"Problems and Applications" |
Sloman
p 29 (End of chapter 1 questions) 5 and 6 |
13-15 |
10-12 |
7-9 |
4-6 |
1-3 |
| 1 Nov | Mankiw:
"Problems and Applications" |
No. 17 ONE example ! | + No. 17 ONE example ! | + No. 17 ONE example ! | + No. 17 ONE example ! | + No. 17 ONE example ! | + No. 17 ONE example ! |
Critiques of GDP - Measuring Sustainable Development (See also the Joint Report for the |
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 house 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 requested to refer to the more detailed part of the report or/and other sources. |
1) Recommendations 1 and 2 2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) (each house should present for a maximum of 10 minutes) |
1) Recommendations 3 and 4
2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) (each house should present for a maximum of 10 minutes) |
1) Recommendations 5 and 6
2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) (each house should present for a maximum of 10 minutes) |
1) Recommendations 7 and 8
2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) (each house should present for a maximum of 10 minutes) |
1) Recommendations 9 and 10
2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) (each house should present for a maximum of 10 minutes) |
1) Recommendations 11 and 12
2) Select one macroeconomic indicator of your choice and briefly present the development of this indicator on 1 or 2 slides (up to 5 minutes) (each house should present for a maximum of 10 minutes) |
House-Work in class on |
+ Teamwork IN class about exercises on chapter 14 and basics of economic policy: |
Discussion of the "Economy of the
Common Good" approach What
if the common good was the goal of the economy? |
Christian Felber (TEDxVienna) [up to 12:45] |
Discussion of the "Economy of the
Common Good" approach What
if the common good was the goal of the economy? |
Christian Felber (TEDxVienna) [up to 12:45] |
Presentation of another alternative approach to Economics You can chose one you find interesting - take the examples in row 5 above as examples / suggestions, but you are free to chose your own. |
Presentation of another alternative approach to Economics You can chose one you find interesting - take the examples in row 5 above as examples / suggestions, but you are free to chose your own. |
Climate
change and economic development. More information for example: WTO: |
Climate
change and economic development. More information for example: Scientist for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook |
(postponed) |
Recall of Mankiw principles 5-7 and 8-10 (in class) (recall that you find the texts in the Reader 2021 -> Doughnut Economics
(Ways to Think Like a 21st-Century Economist) -> Reader
2021 |
Work
on the ideas of Doughnut Economics Combine your analysis with (Mankiws) principles 5-7 |
Work
on the ideas of Doughnut Economics Combine your analysis with (Mankiws) principles 5-7 |
Work
on the ideas of Doughnut Economics Combine your analysis with (Mankiws) principles 5-7 |
Work
on the ideas of Doughnut Economics Combine your analysis with (Mankiws) principles 5-7 |
Work
on the ideas of Doughnut Economics Combine your analysis with (Mankiws) principles 5-7 |
Work
on the ideas of Doughnut Economics Combine your analysis with (Mankiws) principles 5-7 |
| (postponed) | Discussion of the "common good
economy" approach What
if the common good was the goal of the economy? |
Christian Felber (TEDxVienna) [up to 12:45] |
Read
the text about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read
the text about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read
the text about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read
the text about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read
the text about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
Read
the text about "The Economy of the common Good" + present and discuss the THREE most important issues from your viewpoint + what are the functions of the CG balance? + describe some firms, universities and/or communities |
15 Nov Teamwork (houses): -> presentation on 22 November! |
SHAPING THE TRANSFORMATION: EDUCATION, DIGITALISATION AND SUSTAINABILITY work out
the key messages about your ------------> |
Compare the key findings of the GCEE
with those of the Joint
Economic Forecast Autumn 2021 (Research institutes 14
October 2021): Crisis Is Gradually Being Overcome – Align Action with Lower Growth |
ECONOMY: SUPPLY-SIDE BOTTLENECKS DAMPEN GROWTH |
NORMALISING FISCAL AND MONETARY POLICY AFTER THE CORONAVIRUS CRISIS |
CORONAVIRUS CRISIS, INCOME DISTRIBUTION AND OPPORTUNITIES IN EDUCATION |
PRODUCTIVITY: CORONAVIRUS CRISIS AND STRUCTURAL CHANGE |
GLOBAL CLIMATE CHANGE MITIGATION: FRAMEWORK AND POSSIBLE COURSES OF ACTION |
| 22 Nov (in class) |
EoC Chapter 2 ALL students: 1, 2 and 7 |
3 |
4 |
5 |
6 |
6 |
8 |
6 December together in class |
we'll do task 4 of VWL1-MicroExamWS11-12.doc in class EoC Chapter 3 |
3-1 |
3-4 |
3-5 |
3-6 |
3-7 |
3-8 |
| In class: - 4.1 to 4.4 |
4-8 |
4-7 |
4-6 |
4-2, 4-4 - use (own) illustrations
for your answer |
4-1 |
Describe the income and the substitution
effect using figures like 4-16 to 4-18 |
|
EoC Chapter 5 |
3 |
4 |
5 |
6 |
7 |
8 |
|
| EoC Chapter 6 ALL students: question 1 |
2 |
3 |
4 |
5 |
6 |
7 |
|
| no homework, we'll
do exercises from chapter 6, tasks: 2, 3, 6 and 8 Additionally we will discuss task 6 from the Microeconomics WS 05/06 EFA 3 (90 min) |
all houses should please prepare the tasks | all houses should please prepare the tasks | all houses should please prepare the tasks | all houses should please prepare the tasks | all houses should please prepare the tasks | all houses should please prepare the tasks | |
| NN | no homework, we'll do exercises in class -> VWL1-MicroExamWS11-12.doc | all houses should please look at the whole exam - we'll roll the dice which house presents which task ;-) | all houses should please look at the whole exam - we'll roll the dice which house presents which task ;-) | all houses should please look at the whole exam - we'll roll the dice which house presents which task ;-) | all houses should please look at the whole exam - we'll roll the dice which house presents which task ;-) | all houses should please look at the whole exam - we'll roll the dice which house presents which task ;-) | all houses should please look at the whole exam - we'll roll the dice which house presents which task ;-) |
| NN | Review of old exams |
Review of old exams, e.g. the exam of Microeconomics WS 14/15 | |||||
| NN | YOUR questions |
Links:
Links:
- WIKIPEDIA,
the free Encyclopedia (english)
- Leo -
Online Dictionary
- odge.de: Online-German-English-Dictionary
Learning / Improving your English:
- See the tips on the web page of the "Fremdsprachenzentrum",
especially "Internet
Quellen", "Medien",
and "Englisch
in Bremen"
- Somewhat less actual are the English
Language Resources (ELR) web site of Hochschule Bremen (Bremen
university of applied sciences)
with many useful tips, among other things: "How
can I improve my English outside class?" (with tips for going out:
English Club ... and more).
- also useful a list of English radio stations: http://www.surfmusik.de/land/england.html
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)
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