That's  me ;-)

Economics & Statistics

 Winter term 2024/25 - 22 January 2025
ECONOMICS I -- Introduction to Economics, National Accounting and Microeconomics -- EFA 3rd semester WS 2024/25

Basic Information

  • The assessment is a Learning Portfolio. Please click here for more information about the Assessment and its parts 2024/25
    The tests take place at the end of the second block = Tuesday 11:15 (available until 11:45, work-time 20 minutes)
    .
    Please download the Reader 2024
  • Please recall: We formed 5 houses for the house cup (Kahoots) and groupwork in Module exercises and around 10 teams of 2-3 students presenting a case study about one chapter.
  • Click HERE for further information about the presentation 2024/25
    - please recall that we discussed how to find academic literature last semester: at the library databases like - EconLit, the OECD iLibrary, the Web of Science - also helpful is EconBiz at the ZBW. (VPN needed)!
    -> in order to prove that you used a literatur management system, you have to share your Zotero group with me (or another system)
  •  What makes a good presentation? (to be dicussed in class)
  •  The evaluation (grade) of the presentation will focus especially on this and on the discussions you start and moderate during or after your presentation.
  •   If you want to present an Individual Assessment it has to be proposed not later than 10 December - a written proposal of around 1/2 to 1 page is required, describing your planned topic, methodology / media and all sources used (including literature, AI, web sources ...).

Interactive Participation

Preliminary schedule:

  

No week date: presentation Unit - topics (Preliminary Schedule) Prepare for today ++  activities Material
-
all

Outlook:

Current
public
debates
about
economic
Policy
Issues

On Nov 13 2024 the Council of Economic Experts published its annual report 2024/25:

Addressing shortfalls,
modernising resolutely

Further information (in German):
- AI overview
- Prognosen für Konjunktur in Deutschland 2025 und 2026 (business insider)
- Übersicht: Konjunkturprognosen für Deutschland - Die Vorhersagen der Wirtschaftsschätzer (Tagesschau - April 24?

I expect you to follow the economic news!

One possibilty is Espresso, the Economist's daily news digest - as a student, you can subscribe for free
"Espresso gives me critical world updates in a quick 10 minute read. No more, no less" - "Listen anywhere - Easily fit Espresso into your day. Enjoy professionally read audio versions of articles." (both quotes from the webpage linked above)


Joint Economic Forecasts (english)

 On September 26, the Joint Economic Forecast Autumn 2024 was published:

German Economy in Transition – Weak Momentum, Low Potential Growth

No week date: presentation Unit - topics (Preliminary Schedule) Prepare for today ++  activities Material
1
1

15 Oct

 

 

 

WHY Economics?
What's it about?
What do you expect?

 

Section I: Introduction

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

Today _in_ class:

Most important OBJECTIVE(s)
Hierarchy of goals in (social) market economies:

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

Reader 2024

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

(ggf. Einstieg auf Deutsch mit EFA-Themen:
- eure Fragen
- Studienkommission
- Symposium
- bitte an der unverbindlichen Vor-Abfrage für die Auslandsstandort 2024/25 teilnehmen

2
1
16 Oct  

Basic Concepts of Economics

- Goals in Economics and Economic Policy

- Economic systems & Objectives of Economics / Economic Policy

Today _in_ class:

Most important OBJECTIVE(s)
Hierarchy of goals in (social) market economies
-> discuss the significance

 

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

- See also the
quotations of T. Friedman

houses: 
Homework for next week ( -> see
table below)

3
2
22 Oct

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

register to Kahoot using your (nick) name followed by the first letter of your house, e.g:
       Peter-G

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

Watch the two videos _before_ class

- Social market economy (explainity® video) and from the KAS
-> is that todays reality?


- "Wall Street" @ Wikipedia
:

- is greed good?
- Markets & Democracy

Lets look at one of our first models: The Production Possibility Frontier (Curve) PPF
- figure 1.1 + definition:
   
- PPF exlained
    - moving the PPF
which of Mankiws Principles do we find in this model?

General topic: AI in our class
                                                      ->    
4
2
23 Oct  

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

Begg & Ward
Chapter 1: Economics for Business

 

* => if you didn'd do up to now, select your chapter

 

 

 

Today _in_ class:

-> Each presentation group researches and presents 5 academic literature sources for their topic (chapter). At least 2 of them have to be from journals that are not openly available in the internet

 

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

Recall our discussion from last semester:

Literature Management System -> ZOTERO
- Links Link Uni Bremen, Studytools
- Quick start guide
- Zotero Tutorial (video)   Important: -> please install the Zotero app and the Zotero Connector for your browser !!

- EconLit
-> EconBiz.de -- Find Economic Literature (Service of ZBW) - Research skills:
  - 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

5
3
29 Oct

For new students:
EXAMPLE Test
(last 20 minutes
in PC lab!!)


We will use the PC pools A 114 and A 130.
You must know your user ID and password for Aulis!
-> aulis.hs-bremen.de

You need a PHOTO ID

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

-> Homework to prepare:
- read chapter 2.2 and 2.3
+ find a real world example for a demand curve for a good of your choice (= reseach and put the actual curve into your Miro frame). Which sources did you use?
- Ask a LLM for a brief definition of Elasticity of demand.

Insert your results into your frame in the team Miro board

Important: The tests can only be taken IN CLASS (in the PC pool) - if you take it from another place, it doesn't count. (I'll take a participants list, you must bring your PRINTED student ID)
      Tests take place in the last 30 minutes of Tuesdays class = from 11:15-11:45 (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 is strictly forbidden - as is communication during the test!

For new students / internationals: Everyone has to register for the first time, which takes some time. We can do this together, contact me! You must do this before the first test; this is also possible online: further information can be found on this website under ‘Virtual PCs’.
You will not have internet access during the test. As the test is ‘open book’, you can save all the materials you want to use in your own AULIS directory.

6
3
30 Oct

 

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

Please recall that for today Mankiws: "Problems and Applications" are due (see table below) Topics of test 1 (preliminary): Introduction, basic questions, objectives (hierarchy of goals), 10 Principles of Economics / Begg&Ward chapter 1 - you find an expample of a (pre-) test in AULIS
7
4
5 Nov

Test 1 (last 20 minutes
in PC lab!!)


We will use the PC pools A 114 and A 130.
You must know your user ID and password for Aulis!
+ aulis.hs-bremen.de

+ a PHOTO ID

- Chapter 2: Consumers in the Market Place
       ->   ELASTICITIES
(2 sign - types of goods)

 

- Chapter 3: Firms in the Market Place

 

Presentations:

8
4
6 Nov

presentation 2

- Chapter 3: Firms in the Market Place ->  Homework to prepare:
- read chapter 3.1 and 3.2
Work on questions 1-4 (P 84)
- "The Production Process"
see also the Excel file with some Figures from the book
9
5
12 Nov


- Chapter 3: Firms in the Market Place - " -
+ tasks in the Miro board
 
10
5
13 Nov - Chapter 4: Markets in Action   -> in class:
->
task 3 of this exam
Topics of test 2 (preliminary): (still) 10 Principles of Economics,
Begg & Ward chapter 2 and 3
11
6
19 Nov

Test 2

- Chapter 4: Markets in Action   Second part of session 10 had to be cancelled because only 3 students remained in class after the break.
=> for 20 November you have to prepare the rest of chapter 3 and chapter 4
 
12
6
20 Nov presentation 3

Section III: Competition and Profitability

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

 

13
7
26 Nov

presentation 4

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

->  Homework to prepare:
- solve exercise 2 of chapter 4 (page 104/105)
- read chapters 5.2 and 5.3. Make a list of 5 examples (markets, concrete firms) for the four market structures
-> upload them to your Miro Team board
 
14
7

27 Nov

presentation 5

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

->  Homework to prepare:
- solve exercise 2 of chapter 4 (page 104/105)
- read chapters 5.2 and 5.3. Make a list of 5 examples (markets, concrete firms) for the four market structures
-> upload them to your Miro Team board
Topics of test 3 (preliminary): Begg & Ward chapters 2 (only elasticity), 3, 4 and the parts of ch. 5 discussed in class up to now)
15
8
3 Dec

Test 3

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

->  Homework to prepare:
- r
ead chapter 5.5 "Monopoly" - especially think about the advantages and disadvantages of monopolies for the public welfare.
-> What ist "creative destruction" about?

Let's practice the monopoy situation: Example of a final test (30 min) - task 2

16
8

4 Dec

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

----------- " ----------

 

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", "87,900" and "From Stealing to Trust"

17
9
   10 Dec

presentation 6

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

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?

18
9
11 Dec

presentation 7

*** Evaluation ***
please let me know, what you think about this class

- Chapter 7. Growth strategies
 

Information about the
-> Presentations and debates of one alternative economic approach by the houses in January
-> material in row 25

Examples: 1) do you like a coffee? 2) Bundesliga 3) cars & steel 4) Deutsche Bahn AG to make changes to ticket sales

19
10
     17 Dec

Test 4

- Chapter 8. Governing business

Topics of test 4:
Begg & Ward chapter 5: Market Structure, Performance, Profit and Welfare in PC and Monopoly.
Chapter 6: Imperfect Competition (oligopolies)

20
10
18 Dec

Section IV: Basics of MACROeconomics

- Chapter  9: An introduction to the Macro Economy

  Some Videos "Fight of the Century" / Fear the boom and the bust
- "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem
- Fight of the Century: Keynes vs. Hayek Round Two
and more information like "The Tale of the Dueling Economists".
Texts of the videos

... and why not enjoy: Deck the Halls with Macro Follies

21
11


HAPPY
new Year
2025
!

7 Jan

Section IV: Basics of MACROeconomics

- Chapter  9: An introduction to the Macro Economy

- Chapter 10: Measuring Macroeconomic Variables and Policy Issues

On Nov 13 2024 the Council of Economic Experts published its annual report 2024/25:

Addressing shortfalls,
modernising resolutely

Further information (in German):
- AI overview
- Prognosen für Konjunktur in Deutschland 2025 und 2026 (business insider)
- Übersicht: Konjunkturprognosen für Deutschland - Die Vorhersagen der Wirtschaftsschätzer (Tagesschau - April 24?)

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

- 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)

22
11

8 Jan

presentation 10

- Chapter 10: Measuring Macroeconomic Variables and Policy Issues

- GDP to NNY and summary of National Income accounting

- current figures: National Accounts at a glance (no longer published, so we have to look at this one from 2023 (p9) - and the current data in German: "Wichtige Zusammenhänge im Überblick")

23
12
14 Jan Reading week

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

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"

24
12
15 Jan Reading week - How can countries measure the well-being of their citizens? (TED institute)   Topics of test 5:
- Chapter 6: Oligopolies, Game Theory
- Chapters 9 and 10 - Tagets of Economic Policy, GDP: The Circular Flow of Income; Measurement of GDP, other macroeconomic issues
25
13
21 Jan

- current figures: National Accounts at a Glance 2023 (p9) - and the current data in German: "Wichtige Zusammenhänge im Überblick")

 

presentation 9

 

Test 5

 

 

 

 

 

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

Sustainable Development Goals - United Nations Development Programme

The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. The 17 SDGs are integrated — they recognize that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability.

26
13

22 Jan

14:30 room change to A 223

 

*** Evaluation ***
please let me know, what you think about this class
(until 17 January)

 

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

 

 

Presentations and Debates:

* Alfa: Islamic Finance/ Economy

* Bravo: Doughnut Economics

 

 

ECG Economy for the Common Good (GWÖ):
- What if the common good was the goal of the economy? | Christian Felber | TEDxVienna (basic idea up to minute 9:50)
-
ECG in 2:30 min
- ECG webpage - have a look around
[in German: . Gemeinwohl-Matrix 5.0,]
- The Common Good Product: CGP instead of GDP
- The Common Good Matrix
- Companies in different countries

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 FITOUSSIand 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

27
14
28 Jan

Results of you Evaluation - Thank you!

 

 

 

Test 6

Presentations and Debates:

* Charlie: Wellbeing Economy

 

 

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
Karlheinz Ruckriegel

and many more ideas and topics please !

Topics of test 6:
- 10 Principles of Economics
- review chapters 2-6
-
Alternative Economic Approaches
28
14

29 Jan

 

presentation 8

Presentations and Debates:

* Delta Degrowth Economy

* Echo Economy of the Common Good

 

Outlook: Macroeconomics and Economic Policy

Fiscal and Monetary Policy:

- Chapter 13: Expenditure and Fiscal Policy
- Keynesian Cross & the Multiplier

- Chapter 14: Money, Banking and Interest
  - Money and the Banking system

 

 Main Source : European Central Bank ECB, Educational Sources:
- European Monetary Union explained
- The European Centrag Bank (EU Parlament)
- The History of the European (monetary) integration
- European Integration (ECB presentation used in class)
- Monetary Policy Instruments           (TARGET 2 = Trans-European Automated Real-time Gross Settlement Express Transfer System)
+
Definitions of monetary aggregates - MFI information - Inflation Monitor - see also: Leitzins.info

 

The "Module Exercise" takes place every week <45-90 minutes every week integrated into our class> We formed 5 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 tests. 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.

Houses:

Date:

All students

Alfa
Bravo
Charlie
Delta
Echo
 

Names of students:
please register in AULIS

Nela
Caro
Amela
Ashley

Thibaut

Arabie
Melissa
Ceyda
Liana
Xavier
Leo
Rafi
Mika
Tim
Siyuan
Bjarne
Julia
Maxi
Bowen
Rodrigo
David
Artur
Ali
Francesco
w1 - 16 Oct (in class)

Mankiws "Principles" & - presentation in class:
-> What's it about?
-> own example

1-3
4-6
7-8
9-10
Obama text

please prepare for:

;w2 - 23 Oct
->
w3 - 30 Oct

Mankiw: "Problems and Applications"
reminder: presentation by the houses (=homework) -> please upload your documents to AULIS

13-16

+ No. 17 ONE example !

10-12

+ No. 17 ONE example !

7-9

+ No. 17 ONE example !

4-6

+ No. 17 ONE example !

1-3

+ No. 17 ONE example !

(cancelled)

End of Chapter questions from Begg/Ward
(chapter 1) in class

 2,3
4
5
6,7
8
w4 - 6 Nov
End of Chapter questions from Begg/Ward
(chapter 2)
-> all students: Exercise 1 and 2

-> all students: Exercise 1 and 2

-> all students: Exercise 1 and 2

-> all students: Exercise 1 and 2

-> all students: Exercise 1 and 2 -> all students: Exercise 1 and 2
w5 - 13 Nov
End of Chapter questions from Begg/Ward
(chapter 3)
-> all students: Exercise 1 and 2 -> all students: Exercise 1 and 2 -> all students: Exercise 1 and 2 -> all students: Exercise 1 and 2 -> all students: Exercise 1 and 2
w6 - 20 Nov
 End of Chapter questions from Begg/Ward
(chapter 4)

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)

w7 - 27 Nov End of Chapter questions from Begg/Ward
(chapter 5)
 Question 10 + Explain, what "creative destruction" is about   Questions 8 and 9   Questions 6 and 7  Questions 4 and 5  Question 3, 1 and 2
...            
             
NN

Review of old exams

Example of a final test (30 min)

Review of old exams, e.g. the exam of Microeconomics WS 14/15        
NN YOUR questions          

 

Top

Links:

 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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Hochschule Bremen
Fachbereich Wirtschaft
VWL und Statistik