![]() Prof. Dr. Peter Schmidt |
Introduction
to ECONOMICS (Micro
& Macro
AWS) |
1 July 2022 |
Tentative Schedule:
Basic Material / Links:
|
No | week |
date | Unit - topics (Preliminary Schedule) | Material |
1 | 1 |
20
April |
Section I: Introduction - 10 Principles of Economics (Mankiw) [Reader] (In classs: Teamwork
about Mankiws
"Ten Principles of Economics" and part
from B. Obama "The Audaciy of Hope" (p. 176-184) (also see
the current debate
in the Economist) |
Teams: -
"Basic Concepts" |
2 | 1 |
21
April |
Basic
Concepts of Economics Chapter 1: Economics for Business |
- Hierarchy
of goals in market economies - "Wall Street" @ Wikipedia - See also the quotations of T. Friedman |
3 | 2 |
27 April | (no class, due to a faculty seminar) | Use the class time for your homework and preview next session: + Mankiw: "Problems and Applications" (see table below) Literature
Management System -> ZOTERO Important: -> please install the Zotero app and the Zotero Connector for your browser !! |
4 | 2 |
28 April We'll work with ZOTERO, please install the app and the Zotero Connector for your browser -> To access the databases from outside the university you need a VPN connetion |
(Presentation of the) possibilities of the University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases
Exercise:
For a term paper you need to use - and quote correctly of course
- different sources about the basic approaches / assumptions of Economics.
|
Let's Have a look around at the SuUB: University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases - EconLit ->
EconBiz.de -- Find
Economic Literature (Service des ZBW):
|
5 | 3 |
4
May |
topics of last sessions continued | |
6 | 3 |
5
May |
Chapter 1: Economics for Business | |
7 | 4 |
11
May |
Section
II: Understanding Markets |
Important: The test can only be taken IN CLASS (I'll take a participants list, please bring your student ID), if you take it from another place, it doesn't count. Topics
of test 1 (preliminary): Introduction, basic questions,
objectives (hierarchy of goals), 10 Principles of Economics, chapter 1
|
8 | 4 |
12 May presentation 3 +
Test 1 |
-
Chapter 2: Consumers in the Market Place -> ELASTICITIES (1) |
|
9 | 5 |
18
May |
-
Chapter 2: Consumers in the Market Place |
Presentations: -
"The Production Process" |
10 | 5 |
19
May presentation
4 |
topics of last sessions continued (Elasticities) -
we are _not_ going to discuss Chapter 3: Firms in the
Market Place -> only 3.2 and 3.3 (= won't be in a test) |
|
11 | 6 |
25
May presentation
5 (8:30) + Test 2 (9:30) |
- Chapter 4: Markets in Action |
Topics
of test 2 (preliminary): 10 Principles of Economics,
|
12 | 6 |
26
May |
(no class, national holiday) |
|
13 | 7 |
1 June - online presentation 6 |
Section III: Competition and Profitability - Chapter 5: Market
structure & Firm Performance (cont'd) - Chapter 6.
Strategic rivalry -> Oligopoy and Game Theory |
Bundeskartellamt
- Control
of abusive practices - Ban
on cartels Movie "A
beautiful Mind" about John
F. Nash: "the best result will come if
everyone does what is best for himself ... and the group" |
14 | 7 |
2 June - online - presentations 7 |
- Chapter 5: Market
structure & Firm Performance (cont'd) |
|
15 | 8 |
8 June - online - presentations 8 |
-
Chapter 5: Market structure & Firm Performance (cont'd) - Chapter 6. Strategic rivalry -> Oligopoy and Game Theory (No class
discussion of: |
Topics of test 3 (preliminary): Begg & Ward chapters
3 (only elasticity) to 5 |
>> | >> |
Raus
aus dem Klimanotstand – |
From Pandemic to Energy Crisis: Economy and Politics under Stress |
SHAPING THE TRANSFORMATION: EDUCATION, DIGITALISATION AND SUSTAINABILITY
Weitere Infos zum
Thema (in German): |
16 | 8 |
9 June - online - presentation 9 + Test 3 |
Section IV: mAcroeconomics - Chapter 9:
An introduction to the Macro Economy |
|
17 | 9 |
15
June |
- Chapter 9: An introduction to the Macro Economy - Chapter 10: Measuring Macroeconomic Variables and Policy Issues (FYI: chapters 11 and 12 are not part of this class) |
German National
Accounting @DeStatis: - Eurostat
with National
Accounts |
18 | 9 |
16 June
presentation 10 |
- Chapter 10: Measuring Macroeconomic Variables and Policy Issues Today we'll discuss National Accounting (GDP, ...) and afterwards ask ourselves: Is
GDP really an apt measure of Welfare -> Measuring WELFARE & SUSTAINABILITY |
|
19 | 10 |
22
June |
ECG Economy
for the Common Good (GWÖ): Doughnut
Economics (Ways to Think Like a 21st-Century Economist) OECD: "Beyond GDP" Joseph E. STIGLITZ, Jean-Paul FITOUSSIand Martine DURAND |
- 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" |
20 | 10 |
23
June + Test 4 |
Section
V: Macroeconomic Policy - History of economics
thoughts and policy |
Topics
of test 4: Begg & Ward chapters 6: Market structures, performance and
Welfare in PC and momopoly, economic profit and 9 and 10 (parts discussed in class): Tagets of Economic Policy, GDP development, The Circular Flow of Income; Measurement of GDP |
21 | 11 |
29
June |
- Chapter 13: Expenditure
and Fiscal Policy |
|
22 | 11 |
30
June presentation
13 |
The Multiplier |
|
23 | 12 |
6
July |
Multiplier, Balanced
Budget (en) / Haavelmo-Theorem
(de) |
Topics
of test 5: Tagets of Economic Policy, GDP development, The Circular Flow of Income; Measurement of GDP (=review chapter 9/10) Alternative economic approaches (recommendations Stiglitz commission, ECG, Doughnut Economics) Begg & Ward chapter 13 (parts discussed in class) = Keynesian Cross, mulitplier |
24 | 12 |
7 July presentation
14 + Test 5 |
- Chapter 14: Money,
Banking and Interest *** Evaluation *** |
Main
Source : European Central Bank ECB,
Educational
Sources: - European Monetary Union explained - The European Centrag Bank (EU Parlament) - The History of the European Central Bank - 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 |
25 | 13 |
13
July |
- Monetary Policy: the European Central Bank ECB |
|
26 | 13 |
14
July presentation 15 |
Chapter 15: Inflation, Output and Economic Policy |
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". |
27 | 14 |
20
July
- online - |
Chapter 16: Supply Side Policies & Economic Growth |
Review and
conclusion + YOUR questions |
28 | 14 |
21 July - online - presentation 16 + Test 6 |
Chapter 16: Supply Side Policies & Economic Growth |
Video about economic approaches: "60 Second Adventures in Economics" |
Group: Date: |
All
students |
Alpha |
BWL-Justus |
Charlie |
Drizzy |
Erik |
Foxtrot |
|
Luca
Jan Marcel Paul Christoph Thorben Ali |
Lizz |
Luay Emirhan Arton Ghandi Mohamad Amadou Nilly |
Kea Marwa Malek Adam Shieaer Fatma Nadja |
Zoe Leon Adrian Emin Daniel Kenan Can Yasir |
Cécile Louis-Marie Angilique Tim Haifaa Patrick Henri |
|
20/21
April |
no tasks, but Mankiws "Principles" in class: - name and
describe your principles / text |
1-2 |
3-4 |
5-6 |
7-8 |
9-10 |
Obama-Text |
28
April |
Practise to use literature-databases (EconBiz,
EconLit)
properly: research 3-5 articles from academic journals |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
+
literature research: your chapter or |
5 May | Mankiw: "Problems and Applications": |
15-16 |
13-14
|
10-12 |
7-9 |
4-6 |
1-3 |
12 May | 2,3 |
4 |
5 |
6,7 |
8 |
9 |
|
19 May | -> 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 | |
-
no discussion of chapter 4 - |
1 |
2 |
3 |
4 |
5 |
6 |
|
2 June | 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) |
Exercise 3 |
|
... | Questions 13 and 12 | 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 | |
please prepare for 16 June | Please prepare
this task
about monopoly v. PC |
||||||
We might do some
old exam tasks in class together... Research the tasks
of the Bundeskartellamt: |
1. Merger control | 2. Ban on cartels | 3. Abuse control | 4. Public procurement | 5. Whistle-blower | 6. Leniency Programme | |
Exercise 2 a - e |
The same task as Team Alpha, but use the numbers for Germany |
Exercise 2 f - i |
The same task as Team Delta, but use the numbers for Germany |
Exercise 3 |
Refer to figure 9-11 (slide 20 of the ppt), the business cycle. Look at the business cycle for Germany for the last decade and find (or produce) a diagram. Describe the developments you find (boom, recessions, ...) | ||
please prepare for 23 June Critiques of GDP - Measuring Sustainable Development |
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 team is requested to present a brief (~ 5 to max 10 min.) summary of two recommendations --------> In the Executive summary each recommendation is described in one paragraph (p.7-18), but you also find more information in 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 |
question 8 |
questions 5 and 6 | questions 4 | question 3 | questions 1 and 2 | Exercise 2 | ||
All Teams please perform a regression analysis for the consumption function for ... (You might find data sources at the Statistische Bundesamt, ECB, IMF, ... There are also some links below. You should use a time series with as many observations as possible. The dependent variable is the final consumption of the households, the independent variable is the disposable income / or national income as a substitute) |
... the USA | ... France | ... Germany | ... England (/ GB) | ... Ireland | ... Spain | |
End of Chapter questions from Begg/Ward (chapter 11) + all students (individually!) please prepare exercise 2 |
questions 1,2 | questions 3,4 | questions 5,6 | questions 7,8 | questions 9,10 | questions 11,12 |
Links:
please let me know if links don't work ++ and especially if you youself
have a good tip for me and your classmates)
Data Sources:
Statistics: