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Economics
II: Macroeconomics and Economic
Policy
-- Winter
Term 2023/24
BIM 3rd semester + International Students |
Basic Information
Literature
Student Platform Aulis
Preliminary schedule: |
No |
week |
date | presentation | Unit - topics | Additional information | Material & Links |
all | all | current public debates about economic Policy Issues |
Overcoming sluggish growth – investing in the future Weitere Infos zum
Thema (in German): |
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1 |
1 |
18 Oct |
WHY Economics? Review of Mankiw
principles 5-7 and 8-10 /
Part D: Foundations of Macroeconomics |
Most important OBJECTIVE(s) Hierarchy of goals in (social) market economies
... or not? |
Welcome.pptx
& 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 |
19 Oct | Part D: Foundations of Macroeconomics |
(p)review= |
- Eurostat
with National
Accounts |
|
3 |
2 |
25 Oct |
(no pres. 14) |
14 The National Economy:
-> Critiques of GDP & Alternative Approaches
|
+++ OECD Centre +++ Human
Development Index HDI
- World
Economic Forum: What's Wrong with GDP? |
- 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 |
26 Oct | (no pres. 15) |
15 Macroeconomic Issues and Analysis: an Overview Unemployment: Price
Stability Balance
of Payments: |
Watch the following screencasts and find more information
in the text (book, chapter 15): - 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 * Basic ideas of the ECG (Economy of the common good) and Doughnut Economics
|
5 |
3 |
1 Nov |
|
Part E: Macroeconomics |
Annenberg
Video @ learners.org: |
- Data for Consumption
Function @Destatis (open "Chain-linked volume data and contributions
to growth" at end of page (+
incl. regression) |
6 |
3 |
2 Nov | Test
1 |
Alternative Economic Approaches Teamwork (MÜ): Most important objective(s) - and its consequences: Scientist for Future: Facts + Statements of Scientists + Sketchnotes + Skeptical Science Global Warming & Climate Change Myths + The Consensus Handbook |
For Module Exercise: Doughnut
Economics (Ways to Think Like a 21st-Century Economist) Economy of the Common Good (ECG) |
Warm-up
questions ;-)
GapMinder
--> Factfulness
(the
book) |
7 |
4 |
8 Nov |
pres. 17 |
Maximizing Welfare? Today
we'll finish our discussion of last week: |
Read the ECG-text from our Reader Economy of the Common Good (ECG) |
WTO: Economy for the Common Good Limits
to Growth |
8 |
4 |
9 Nov | pres. 16 |
... Weitere
Infos zum Thema (in German): |
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9 |
5 |
15 Nov | 17 Short-run Macroeconomic Equilibrium Keynes' Income-Expenditure Model |
- The Keynesian National Income Determination Model:
the 45° line (MP4
version) |
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10 |
5 |
16 Nov | Class takes place ONLINE, please find the Zoom-Link in AULIS
|
17 Short-run Macroeconomic Equilibrium |
- Equilibrium in the Keynesian National Income Determination
Model: (a) W = J (MP4
version) - Deflationary and inflationary gaps (MP4
version) |
Example for the "Multiplier rounds" Topics of test
2 • Chapter 17:
Keynesian Economics |
11 |
6 |
22 Nov |
---> Test 2 pres. 18 |
17 Short-run Macroeconomic Equilibrium
|
For today, everyone watches (in MÜ 21 Nov): Annenberg
Video @ learners.org: Today
we'll discuss your findings of (the history of) Keynesian thought: |
-> in the December-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?
YOU are invited to attend the EFA-Symposium 2023 |
12 |
6 |
23 Nov | class takes place @ the EFA-Symposium (Haus der Wissenschaft) (incl. EFA Praxisgespräche) |
17 Short-run Macroeconomic Equilibrium Keynes' Income-Expenditure Model Fiscal Policy |
|
|
13 |
7 |
29 Nov | pres. 19 |
Fiscal Policy and Balanced Budget Multiplier by Haavelmo (-Theorem) |
|
Topics of our third test • Chapter 17: Keynesian Economics • |
14 |
7 |
30 Nov |
Test 3 |
chapter 17: 17.3, 17.4
18 Money and Interest Rates |
- The
Liquidity Trap by Roger K. Strickland (YouTube) -
"What
is Inflation?", Basket of goods, HICP ... @ECB - The supply of money: the creation
of credit (MP4
version) |
Main
Source : European Central Bank ECB,
Educational
Sources: |
15 |
8 |
|
pres. 20 pres. 23 |
18 Money and
Interest Rates |
Monetary Policy -->
Economic Policy issues |
-
definitions
of monetary aggregates - MFI
information - Inflation Some Videos "Fight
of the Century" / Fear
the boom and the bust |
16 |
8 |
7 Dec |
pres. 21 pres. 22 FYI |
18 Money and
Interest Rates 19 The Relationship between the Money and Goods Markets Economic Policy issues
|
Please watch the relevant videos ("Audio animations") in the textbook resources of our book | |
17 |
9 |
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pres. 24 |
18 Money and Interest Rates 19 The Relationship between the Money and Goods Markets
Economic Policy issues |
---------------------------------------------------> |
Main
Source : European Central Bank ECB,
Educational
Sources: -
definitions
of monetary aggregates - MFI
information - Inflation Some Videos "Fight
of the Century" / Fear
the boom and the bust |
18 |
9 |
14 Dec | Simulation Game TopSim Applied
Economics
Test 4 |
chapter 19 The Relationship between the Money and
Goods Markets + IS/LM - a model of the macroeconomy |
Economic Policy issues - Fiscal and Monetary Policy in the IS/LM model - recall the Schools of Economic Thought ... |
Simulation Game TopSim Applied
Economics
Topics of test 4 • Chapter 18: Money, Banks
and Interest rates |
19 |
10 |
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(pres. 26 -> January) (pres. 27 -> January) |
22 Long-term Economic Growth |
Some
Videos "Fight of the Century" / Fear
the boom and the bust ... and why not enjoy: Deck the Halls with Macro Follies |
|
20 |
10 |
21 Dec |
Pre-Presentation
|
Part F: The World Economy 24 International trade
(Workshop
on Negotiation skills |
|
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 |
12:00-14:20
(no class on Wed, 10 January) |
We start the game with a general orientation and your questions |
Simulation Game TopSim Applied Economics 1st round (= period 2) |
You have to
be prepared = Simulation Game TopSim
Applied Economics 1st round (= period 2) |
-> Schedule for our first round = P2 |
22 |
11 |
(no module exercise this Thur, 11 January in the afternoon) |
Individual Presentation: Inflation Test
5 |
- " - Analysis & Discussion Part F: The World Economy |
- Feedback and discussion of results and experiences of the 1st round (= period 2)
|
Topics of test 5 |
23 |
12 |
12:00-14:20 (no class on Wed, 17 January) |
***
Evaluation
*** |
Simulation Game TopSim Applied
Economics - period 3 |
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24 |
12 |
18 Jan |
(no Kahoot as no students attended Tuesdays class) presentation: pres. 26 |
- " - Analysis & Discussion 26 Global and Regional Interdependence |
- Feedback and discussion of last rounds | ***
Evaluation
*** please let me know, what you think about this class (until 19 January) |
25 |
13 |
24 Jan | "unfortunately, it has not been possible to complete the evaluation survey for the course “Economics II” within the degree programme BIM BA, due to the limited number of responses (fewer than 4)." |
Simulation Game TopSim
Applied Economics - period 4 |
Topics of test 6 |
|
26 |
13 |
25 Jan |
Test 6 16:15 pres. 22 |
- " - Analysis & Discussion 27 Economic Problems of Developing Countries |
- Feedback and discussion of last rounds | |
27 |
14 |
31 Jan | Final presentations of teams Simulation Game TopSim Applied Economics
|
please upload your presentations until Tuesday 16:00 !!
|
||
28 |
14 |
1 Feb | further topics / presentations |
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
|
Alfa
|
Bravo
|
Charlie
|
Delta
|
Elite
|
Firkytoodle
|
|
Simulation Game | Firm 1 |
Firm 2 |
Bank 1 |
Bank 2 |
Advocacy
groups / CWA |
Government |
|
names
of students |
Tatjana Sander |
Vanessa Beyza |
Christin Iker |
Sören Ocha |
Sofía Adriana |
Yasmin Lamin |
|
1. week Thu, 19/10 Teamwork (houses) 1 |
Read and discuss the Joint Economic Forecast Autumn 2023 |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP
and present Define questions that you find interesting for our class |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP
and present Define questions that you find interesting for our class |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP
and present Define questions that you find interesting for our class |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP
and present Define questions that you find interesting for our class |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP
and present Define questions that you find interesting for our class |
What are from your viewpoint the most important / most interesting findings of the report? Chose one indicator other than GDP
and present Define questions that you find interesting for our class |
House-Work to 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 |
House-Work to 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 |
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] |
Climate change and economic development.
e.g.: - carbon taxes: how they work + their impact - ideas of scientists / fridays / Economists ... for future |
Presentation of another alternative approach of Economics |
week 5 Thu, 16/11 Teamwork (houses): |
Overcoming sluggish growth – investing in the future Houses
Beta thru Foxtrot |
Compare the key findings of the GCEE On September 28, the Joint Economic Forecast Autumn 2023 was published: Purchasing
power returns ----------------------------------> |
Low potential output growth | Fragmentation and low liquidity of capital markets | Rising risk of poverty and stagnating lower incomes | Growing financing needs of the statutory pension scheme (GRV) | Insufficient national research data infrastructure in Germany + universities |
6
Tue, 21/11 7 Thu, 30/11 8 Tue, 5/12 9 Thu, 14/12 10 Tue, 19/12 11 Thu, 11/1 12 Tue, 16/1 13 Thu, 25/1 14 Tue, 30/1 |
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(t.b.a.) | 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 |
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)
-You
are visitor number: