Economics
II: Macroeconomics and Economic
Policy
-- Winter
Term 2021/22
BIM 3rd semester + International Students |
Additional Information:
Basic Information
Literature
Student Platform Aulis
Preliminary schedule: (there may be changes to the schedule during the class; the exact dates will be published once the timetable is published) |
No |
week |
date | presentation | Unit - topics (Preliminary Schedule) | Prepare for this session: | Material & links |
On 14 October 2021 the Joint Economic Forecast Autumn 2021 was published: Crisis Is Gradually Being Overcome – Align Action with Lower Growth |
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1 |
1 |
20 Oct |
WHY Economics? Review of Mankiw
principles 5-7 and 8-10 / Most important OBJECTIVE(s) |
-> Reader Macroeconomics BIM 2021 Annenberg
Video @ learners.org: - Social
market economy (explainity® explainer video) and from
the KAS German National
Accounting @DeStatis: -> Overall economic equilibrium: 50th anniversary of the Magic Square (link unfortunately killed by Destatis) |
||
2 |
1 |
-- " -- | Part D: Foundations of Macroeconomics |
Module exercise / teamwork: Doughnut
Economics (Ways to Think Like a 21st-Century Economist) |
- Eurostat
with National
Accounts - What if the common good was the goal of the economy? | Christian Felber | TEDxVienna (ME s.b.) |
|
3 |
2 |
27 Oct | (no pres. 14) | 14 The National Economy:
Maximizing Welfare?
Human
Development Index HDI Alternative Economic Approaches Teamwork (MÜ): Most important objective(s) - and its consequences: |
---------------------------- " ----------------------------
(p)review=
|
- 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" |
4 |
2 |
-- " -- | (no pres. 15) |
Scientist for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook
15 Macroeconomic Issues and Analysis: an Overview |
Watch the following screencasts and find more information
in the text (book, chapter 15): For Module Exercise: Doughnut
Economics (Ways to Think Like a 21st-Century Economist) Economy of the Common Good (ECG) Read the ECG-text from Reader
Macroeconomics BIM 2021 (pages 51 ff) |
Warm-up
questions ;-)
GapMinder
--> Factfulness
(the
book) |
5 |
3 |
3 Nov | (no pres. 16) Test
1 |
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
|
6 |
3 |
-- " -- | Part E: Macroeconomics |
Annenberg
Video @ learners.org: |
Annenberg
Video @ learners.org: |
|
7 |
4 |
10 Nov | (no pres. 17) |
Today we'll discuss your findings of last week: - issues about the topics of chapter 15 - basic information from the video about the history of Keynesian thought
and then proceed with chapter 17: |
On Nov 11 2021 the Council of Economic Experts published its annual report 2021/22: SHAPING THE TRANSFORMATION: EDUCATION, DIGITALISATION AND SUSTAINABILITY
|
... Weitere
Infos zum Thema (in German): |
8 |
4 |
-- " -- | 17 Short-run Macroeconomic Equilibrium Keynes' Income-Expenditure Model |
- The Keynesian National Income Determination Model:
the 45° line (MP4
version) |
-> in the November-Blog I am specifically interested in your opinion about the parts of the learning portfolio: which are good, which might be replaced, do you see alternatives? Please keep in mind that less than 3 parts do not make a lot of sense. Should there be more self-responsibility of the students? Topics of
test 2 • Chapter
17: Keynesian Economics |
|
9 |
5 |
17 Nov |
|
17 Short-run Macroeconomic Equilibrium |
- Equilibrium in the Keynesian National Income Determination
Model: (a) W = J (MP4
version) |
Example for the "Multiplier rounds" |
10 |
5 |
-- " -- | Test 2 pres. 18 |
Fiscal Policy and Balanced Budget Multiplier by Haavelmo (-Theorem) |
- Deflationary and inflationary gaps (MP4
version) Teamwork about the annual report 2021/22 of Council of Economic Experts |
|
11 |
6 |
24 Nov |
|
chapter 17:
18 Money and Interest Rates |
After finishing chapter 17 we start with SHAPING THE TRANSFORMATION: EDUCATION, DIGITALISATION AND SUSTAINABILITY
|
Main
Source : European Central Bank ECB,
Educational
Sources: YOU are invited to attend the EFA-Symposium 2021 |
12 |
6 |
-- " -- | (no pres. 19) | 18 Money and Interest Rates |
- The supply of money: the creation of credit (MP4
version) - The supply of money curve (MP4 version) - The demand for money (MP4 version) - Equilibrium in the money market (MP4 version) |
Topics of our third test • Chapter 17: Keynesian
Economics • Chapter 18: Money, Banks
and Interest rates |
13 |
7 |
1 Dec | pres. 20 |
18 Money and Interest Rates |
- Why
is inflation currently so high? (ECB November 2021) |
-
definitions
of monetary aggregates - MFI
information - Inflation |
14 |
7 |
-- " -- |
Test
3 |
|
|
- The
Liquidity Trap by Roger K. Strickland (YouTube) |
15 |
8 |
8 Dec |
|
---- " ---- 19 The Relationship between the Money and Goods Markets Economic Policy issues
20 Aggregate Supply, Unemployment and Inflation |
Economic Policy issues IS/LM model (ch. 19.3; 20.3)
|
Some Videos "Fight
of the Century" / Fear
the boom and the bust Simulation Game TopSim Applied
Economics
Simulation Game
TopSim Applied Economics - Introduction
by the lecturer |
16 |
8 |
-- " -- |
pres. 21 pres. 22 pres. 23 |
21 Fiscal and Monetary Policy:
22 Long-term Economic Growth
|
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | WTO: Economy for the Common Good Limits
to Growth |
17 |
9 |
15 Dec | pres. 24 |
23 Supply-side Policies |
chapter 19 The Relationship between the Money and
Goods Markets + IS/LM - a model of the macroeconomy
|
Some Videos "Fight
of the Century" / Fear
the boom and the bust Topics of test 4 • Chapter 18: Money, Banks
and Interest rates |
18 |
9 |
-- " -- | pres. 25 Test 4 |
Part F: The World Economy 24 International trade |
||
19 |
10 |
22 Dec | class is ONLINE, Zoom-link in AULIS
|
1) completing our discussion on: 19 The Relationship between the Money and Goods Markets + 20 Fiscal and Monetary Policy -> IS/LM model (chs. (18.4/5), 19.5; 20.4) |
IS/LM - a model of the macroeconomy Economic Policy issues |
Some
Videos "Fight of the Century" / Fear
the boom and the bust ... and why not enjoy: Deck the Halls with Macro Follies |
20 |
10 |
-- " -- | 2) presentations pres. 26 pres. 27
|
->
Evaluation:
(Workshop
on Negotiation skills |
3) Pre-presentations
Simulation Game TopSim
Applied Economics: |
You
can (and should!) ask questions about your team's/sectors's topics/decisions
(check their office hours or make appointments via email) The team grade for the simulation game results from your participation and engagement in the game, which is documented in the final presentation (end of January, see below). As the teams are relatively big, you can divide them so that some team members deliver the pre-presentation in December and others the final presentation in January. All team members that are listed in the ppt of the final presentation will be awarded the points for the simulation game (so if you team decides that you didn't participate enough and doesn't list your name there, you're not awarded any points for the games). |
21 |
11 |
12 Jan
|
HAPPY new Year 2022! We start with a general orientation and your questions Test
5 |
->
Evaluation:
|
Topics of test 5 |
|
22 |
11 |
-- " -- |
|
Simulation Game TopSim Applied Economics 1st round (= period 2)
Part F: The World Economy |
You have to be prepared = Simulation Game TopSim Applied Economics 1st round (= period 2) |
|
23 |
12 |
19 Jan | Individual Assessment "Green Economy". | - " - Analysis | - Feedback and discussion of results and experiences of the 1st round (= period 2) - period 3 |
|
24 |
12 |
-- " -- | Simulation Game TopSim Applied Economics - period 3 26 Global and Regional Interdependence 27 Economic Problems of Developing Countries |
- Feedback and discussion of last rounds | ||
25 |
13 |
26 Jan | Test
6
|
- "
- Analysis |
- period 4 Topics of test 6 |
|
26 |
13 |
-- " -- | Simulation Game TopSim Applied
Economics - period 4 |
- Feedback and discussion of last rounds | ||
27 |
14 |
2 Feb | - " - Analysis
Simulation Game TopSim Applied Economics Part F: The World Economy |
please upload your presentations until Tuesday 16:00 !!
Simulation Game TopSim Applied Economics
- Final presentations of teams: (~ 15 min) |
||
28 |
14 |
-- " -- | further |
Review and conclusion 26 Global and Regional Interdependence 27 Economic Problems of Developing Countries Feedback and Review |
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | Video about economic approaches: "60 Second Adventures in Economics" Some
Videos "Fight of the Century" / Fear
the boom and the bust |
Module
exercise (ME): The
tasks of the module exercise normally refer to the topics discussed in the
last week(s). The numbers refer to the chapter in the textmook (Sloman:
"End of chapter questions").
Parts
of the ME will take place doing the Simulation Game TopSim Applied
Economics, details will be discussed in class
|
Albatraoz |
Bravo |
Crucio |
Dauerstramm |
Echo |
Foxtrot |
|
Simulation Game | Firm 1 |
Firm 2 |
Bank 1 |
Bank 2 |
Advocacy
groups / CWA |
Government |
|
names of students |
Iliane Jana Kristina Leandra Nanella Natalia Sabina |
Cihan Clara Malin Melis Nina Sandra Zoe |
Melina |
Alexander Calvin Mats Nico Yasemin Tom |
Bentje Helen Luisa Marie Martha Paula |
Ahmad Elias Niklas Laslo Jascha Isabel Joyce |
|
1. week 20 October Teamwork (houses) 1 |
Read and discuss the
Joint Economic Forecast Autumn 2021 was published: Crisis Is Gradually Being Overcome – Align Action with Lower Growth |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP and present |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than
GDP and present |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than
GDP and present |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than
GDP and present |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than
GDP and present |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than
GDP and present |
2nd week 27 October Teamwork (houses) 2 |
Recall of Mankiw principles 5-7 and 8-10 (in class) (recall that you find the texts in the reader Economics I) Teamwork: Most important objective -> Doughnut Economics (Ways
to Think Like a 21st-Century Economist) |
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 |
House-Work to |
+ 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 of Economics | Presentation of another alternative approach of Economics | Climate change and economic development.
|
Climate change and economic development.
e.g.: - carbon taxes: how they work + their impact - ideas of scientists / fridays / Economists ... for future |
15-1 |
15-2 |
15-3 |
15-4 |
15-5 |
15-7 |
||
18 Nov Teamwork (houses): |
On Nov 11 2021 the Council of Economic Experts published its annual report 2021/22: 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 |
24 Nov in class | ALL teams please prepare EoC-question 1 (ch 17) = letters -> |
(a) 2 |
(b and c) 3 |
(d) 3 |
(e) 4 |
(f) 5 |
(g) 7 |
(t.b.a.) | Have a look at this exam (I'm aware that you don't know task 1 yet, nor 3-2 and 3-3 -- and of course your test will still only be 30 minutes) | task 2 but using: C = 1000 + 0.8 Y |
task 2 but using: C = 2000 + 0.9 Y |
3.1 (own research) | 4.2 in your own words (and perhaps some own research), don't use my ppt, we all know that. | 4.4 in your own words (and perhaps some own research) | 4.1 (own research) |
(t.b.a.) | All Teams please perform a regression
analysis for the consumption function for ... |
... the USA |
... France |
... Germany |
... England (/ GB) |
... Ireland |
... Spain |
(t.b.a.) | EoC-question chapter 18 + search the current conditions of the ECB: Main refinancing instrument, standing facilities, minimum reserve |
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(t.b.a.) | EoC-question chapter 20 We might do tasks together in class: MacroExamSoSe10.pdf |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
Pre-Presentation by teams or experts - Simulation Game TopSim Applied Economics |
later (t.b.a.) Critiques of GDP - Measuring Sustainable Development (See also the Joint Report for the |
In the Report of the "Stiglitz-Sen-Fitoussi commission" on the Report of the commission on the measurement of economic performance et social progress 2009 the authors deliver 12 recommendations. Each team 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 invited to refer to the more detailed part of the report or/and other sources. |
Recommendations 1 and 2 |
Recommendations 3 and 4 | Recommendations 5 and 6 | Recommendations 7 and 8 | Recommendations 9 and
10 |
Recommendations 11 and 12 |
Jan/Feb 2021 | Simulation Game TopSim Applied Economics - Presentations by the teams | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise |
Simulation Game TopSim Applied Economics |
we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | we'll play the simulation game during class time and in the module exercise | |
Simulation Game - Final Presentation | Final
Presentation |
Final
Presentation |
Final
Presentation |
Final
Presentation |
Final
Presentation |
Final
Presentation |
Final Test 2019 (40 minutes.- might incl.
MC questions)
- topics as discussed last week (Contents_of7th_edition.doc
-> Macro)
To prepare you might
want to work on the tasks for the Module Exercises as well as the "Test
your Knowledge" of the chapters on http://media.pearsoncmg.com/intl/ema/ema_uk_he_sloman_econ_7e/pages/textbook_resources_index.htm
- example from 2015/16 (30 minutes - recall that ours is 40 minutes)
Data Sources:
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)
Interesting Economics-related links (arranged by Christopher Langelage - in memoriam)
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